What is Magpie (MAGPIE)?
Magpie Capital is a permission-less lending protocol on Solana. The protocol allows users to deposit memecoin or tokenized-stock collateral and borrow SOL against it, with on-chain liquidation enforcement when collateral value falls below the loan threshold. The protocol includes an on-chain credit oracle that tracks wallet repayment history and adjusts loan-to-value caps, fees, and durations based on demonstrated borrower behavior. Borrowers with positive repayment history can access higher LTV caps and longer durations than first-time borrowers.
How does Magpie work?
The $MAGPIE token is the protocol's reward asset. Ten percent of every loan fee is distributed in SOL to $MAGPIE holders on a randomized five-to-ten-day cadence. Distributions occur as direct transfers to holder wallets and require no claim transaction. Tokens deposited as collateral within the protocol remain eligible for distributions. A paid agent API built on the x402 standard allows automated systems and AI agents to query protocol data and submit transactions without API keys. $MAGPIE launched on pump.fun in March 2026 with one hundred percent of supply allocated to the bonding curve.