Lightspeed The DeFi-Native Prime Broker | MacBrennan Peet
Feb 25, 2026
MacBrennan Peet, founder of Project 0 and Solana DeFi builder, explains a DeFi-native prime brokerage that unifies margin, credit, and risk across venues. He discusses unified balances and cross-venue borrowing. He explores automated on-chain strategies, flash-swap rebalances, and Project 0 Pay for spending without selling crypto.
AI Snips
Chapters
Transcript
Episode notes
DeFi Created Fragmentation That Needs Unification
- Blockchain promised composability but created capital and risk fragmentation because anyone can launch non-standard venues.
- Project 0 (P0) unifies scattered positions via a prime-broker-style layer that is permissionless and open to all users on-chain.
Self Custodial Intermediary Enables Unified Margin
- P0 inserts a self-custodial account between users and venues to enable unified margin and cross-venue borrowing without forcing custody changes.
- That account permits permissionless partial liquidations and lets users borrow holistically against assets spread across Camino, Jupiter, Drift, etc.
Customers Range From Yield Farmers To Basis Traders
- P0 serves both yield farmers who constantly move capital across venues and sophisticated traders running carry and basis trades.
- Example: you can long SOL on Camino and short SOL perps on Drift, capturing basis spreads that were previously impossible on Solana.