Nolus

Nolus is a spot margin protocol on Solana for traders who want leverage without the usual funding-rate and margin-call risks. Users open positions of up to 5x on SOL, BTC, ETH and other assets at a borrowing rate fixed for the life of the position, with no floating funding fees. Each position is backed by the real asset, which the protocol buys and holds in escrow rather than issuing a synthetic, and can be redeemed for the asset or settled in stablecoins.

When a position gets risky, Nolus trims it with partial liquidations instead of closing it outright, and its Market Anomaly Guard pauses liquidations when venue prices are dislocated, re-quoting and retrying instead of selling into a wick. In the October 2025 crash, about 81% of Nolus positions stayed open. Lenders earn the borrowing interest directly, with no token emissions, and deposits pause at target utilization so yield isn't diluted.

Nolus has been live since 2023 with no security incidents. It started as a Cosmos protocol trading through Osmosis, then moved to Solana on August 28, 2026, using Solray, its own IBC-to-Solana integration that runs positions across chains without a custodial bridge, with Phantom and Solflare connecting natively. The team of 15+ is led by Kamen Trendafilov, Gancho Manev and Ivan Kostov, and the protocol is part of Superteam Balkan.