marginfi (Project 0)
66 Lean match C+LSTs are prime collateral; lending markets turn staked SOL into credit. Helius earned $8K in revenue over 30 days; marginfi (Project 0) earned $3K in revenue over 30 days.
Liquid Staking
Helius
- Revenue, 30 days $8K
- Fees, 30 days $393K
- Daily vs month ago -34.7%
- Revenue, 1 year $107K
- X followers 75.8K
Sources: DefiLlama fees and revenue, @Helius on X, helius-labs/photon on GitHub, Official site
Scores
Investment target 29 Likely pass F and Foundation support 50 Toss-up D
| Input | Value | Weight | What it measures | |
|---|---|---|---|---|
| Revenue strength | 26 | 35% | Percentile of 30-day revenue among Solana projects (log scale) | |
| Momentum | 10 | 25% | 1-month change in revenue (fees if no revenue), -50% maps to 0, +100% to 100 | |
| Value to Solana | 63 | 20% | Percentile of 30-day fees paid by users, a proxy for transactions and priority fees the project drives | |
| Developer velocity | 32 | 10% | Percentile of 30-day commits across linked public repos | |
| Reach | 14 | 10% | Percentile of X followers among tracked accounts | |
| Public infrastructure | 100 | 20% | 100 when the project is core client, tooling, oracle, bridge or staking infrastructure (Foundation score only) |
Analysis Scores are computed by Ecosystem IQ from the inputs above. They rank projects against each other and are not investment advice.
Key people
| Name | Role | Source |
|---|---|---|
| mert | CEO, Helius (per X bio) | @mert on X |
| i-am-bert | Engineer: 3 commits to helius-labs/photon in the last 30 days | helius-labs/photon commits |
Suggested partners
Solflare
65 Lean match C+Wallet-native staking defaults send SOL to an LST. Helius earned $8K in revenue over 30 days; Solflare has no DefiLlama revenue listing but 262K followers on X.
Development
| Repository | Commits, 30 days | Stars | Latest release |
|---|---|---|---|
| helius-labs/photon | 3 | 112 | none |
Upcoming events
- Nov 16, 2026: SOL Calling: Solana Breakpoint Happy Hour (London)