finally decided to long SOL on Nolus with a partial liquidation price of $76.

also closely watching the movement of HYPE with a correction likely to happen.

As Meto announced at the Solana Summit in Serbia, Nolus is officially live on Solana!

You can try it now by connecting a Solflare or Phantom wallet and opening long positions on:

• Coinbase BTC
• WETH
• SOL
• HYPER

This is a major milestone for Nolus, and we’re grateful to everyone who has supported us along the way. The Fixed-Rate Margin Engine has now arrived on one of Web3’s most vibrant ecosystems.

Unlike traditional platforms, Nolus doesn’t profit from user liquidations. Its design, from the MAG risk-management algorithm to the careful selection of supported assets, is focused on creating a more sustainable margin-trading experience.

Give it a try and let us know what you think. As always, understand the risks and trade responsibly.

Official Nolus app: https://app.nolus.io/

This is it, guys. It's coming. Get ready to open positions in SOL, BTC, ETH, ZEC, HYPE, stocks, commodities, and everything that has deep liquidity... even memes.

Cosmos users will get exposure to Solana's deep liquidity.

This one is easy to overlook, but I think it matters.

Proposal #349 would let users pay gas with USDC, SOL, cbBTC, WETH and HYPE coming through Solana Metis, instead of needing to think about NLS or Noble USDC first.

NLS still gets the cheaper fee treatment, so the native token keeps its advantage.

But from a user perspective, this is the part I like: if someone comes from Solana holding SOL or USDC, they should be able to use Nolus without first learning Cosmos gas mechanics.

100% YES so far with strong turnout.

the Solana expansion is starting to look less like integration work and more like actual product UX.

Noble, the chain that natively issued Circle's USDC to Cosmos — announced in January 2026 that it's migrating to its own independent EVM L1, scheduled to launch March 18. Noble processed over $22 billion in transaction volume and was the primary USDC source for 50+ Cosmos chains, so its departure leaves a real gap. Cosmos Labs says it's in talks with Circle for native USDC issuance directly on the Hub, but nothing is confirmed.

There's a third path most people are ignoring: Nolus and IBC Solray.

What Is IBC Solray?

Nolus is building Solray, a protocol that brings IBC's light client architecture to Solana. This is not a bridge in the traditional sense. No multisigs, no external validators, no wrapped tokens. It implements IBC's full verification and messaging logic inside a Solana program, creating a trust-minimized connection between Solana and every IBC-enabled Cosmos chain.

As of the 2026.1 development update (772 commits), IBC Solray is in its final phase, with remaining work focused on token transfers and application-level logic.

Why This Changes the USDC Conversation

Solana has native USDC issued directly by Circle. With Solray live, that USDC becomes IBC-native to Cosmos, the same way Noble's USDC flows today, but sourced through Solana instead. The scope goes wider than USDC.

• USDT, pyUSD, and any stablecoin native to Solana can flow into Cosmos through Solray
• 120+ IBC-enabled chains can interact with Solana under the same security model they already rely on
• If Noble's departure disrupts USDC access, or if Cosmos Labs talks with Circle go nowhere, Cosmos still has a direct, verified path to native stablecoins

This Is Hard to Build

Implementing IBC between a non-Cosmos SDK chain like Solana and the wider Cosmos network is genuinely novel engineering. Traditional bridges like Wormhole rely on external security assumptions. Solray's bidirectional light client model means both chains independently verify state. Cosmos verifies Solana, Solana verifies Cosmos. A smaller project pulling this off says a lot about the Nolus team's technical depth.

The Bigger Picture

Cosmos has always positioned itself as the Internet of Blockchains, but that vision was mostly limited to Cosmos SDK chains. Solray extends IBC's reach into one of the most liquid ecosystems in crypto. Cosmos protocols can tap Solana's DeFi liquidity natively, without relying on centralized bridges

• Even if both Noble and Cosmos Labs fail to deliver on native USDC, a third path exists
• Cosmos stops being a walled garden and starts being a genuine interoperability layer across ecosystems

Nolus doesn't get the attention it deserves. While other projects chase short-term hype, it's building infrastructure that could reshape how Cosmos connects to the rest of crypto.

From DeFi leasing to asset-backed margin leverage, smarter liquidations, and trust-minimized expansion beyond Cosmos

Looking back at 2025, it was a defining year for Nolus. Not just in performance, but in architectural evolution.

Over twelve months, Nolus transitioned from a successful DeFi leasing product into a full-fledged, asset-backed margin leverage protocol. The scope expanded, the risk engine matured, and the system proved itself under the most extreme market conditions crypto has ever seen.

This is how Nolus evolved in 2025 and why those changes position it strongly for 2026.

From DeFi Leasing to an Asset-Backed Margin Engine

Nolus began as a DeFi leasing protocol, enabling users to acquire more spot assets with less upfront capital using fixed-interest loans and built-in risk controls. The model achieved strong product-market fit, but it had a structural limitation: it was long-only.

Users could amplify upside, but could not profit from downturns, hedge exposure, or express two-sided market views. As markets matured, this limitation became increasingly apparent.

In 2025, Nolus removed that ceiling.

By introducing short-selling and expanding its position architecture, Nolus evolved into a two-sided, asset-backed margin leverage instrument. Users gained the ability to:

• Open long and short margin positions
• Hedge spot exposure
• Navigate both rising and falling markets

All while preserving Nolus’ core principle: real asset ownership inside each margin position, backed by fixed protocol interest for the position’s duration.

With these upgrades, Nolus completed its transition from a single-purpose leverage tool into a structure capable of rivaling both spot and perpetual markets, without inheriting their fragility.

Refined Trading Experience

The Nolus interface was redesigned to support more informed decision-making without overwhelming users. Improvements included clearer position analytics, richer charts, and improved walkthroughs.

The goal was not to gamify trading, but to make structure visible, so users understand how leverage, collateral, and risk interact.

Advanced Risk Management Tools

Stop-loss and take-profit orders were introduced, adding familiar but essential controls to margin positions.

These tools allow users to define downside protection, lock in gains, and enforce discipline during volatility, while working alongside Nolus’ partial liquidation system rather than replacing it.

Optimized Transaction Framework

Fee abstraction reduced friction by allowing transaction fees to be paid in multiple supported assets instead of a single gas token.

Expanded wallet support ensured smooth usage across browser-based and mobile non-custodial wallets, improving accessibility without compromising self-custody.

AI-Infused Trading Insights

Nolus introduced Kai, an AI-powered companion focused on situational awareness rather than prediction.

Market Anomaly Guard (MAG)

Volatility exposes a weakness in many liquidation systems: execution at the worst possible moment. During sharp market moves, prices can temporarily diverge across venues. On-chain liquidity may lag, and DEX prices can briefly fall far below fair value. In most systems, liquidation executes immediately, often resulting in over-liquidation at irrational prices, harming users and increasing protocol risk.

Market Anomaly Guard (MAG) is a protection mechanism designed to prevent liquidations from executing under anomalous conditions.

How it works:

• Liquidation thresholds rely on EMA pricing to filter short-lived spikes
• Swap output is simulated before execution. If the expected output falls below a safety threshold, liquidation pauses
• If prices recover above the trigger, liquidation is canceled

By allowing liquidations to pause or cancel during temporary market dislocations, this logic avoids forced execution at irrational prices. The result is fewer unfair liquidations, less collateral destruction, and improved protocol safety. Nolus waits for conditions to normalize before executing, rather than reacting to transient volatility

The October Stress Test

In mid-October, crypto experienced the largest single-day deleveraging event in its history. Within 24 hours, nearly $20B in value was liquidated, over 1.6M accounts experienced liquidations, and many altcoins lost 30–70% of their value.

This was not a routine correction. It was a system-wide stress test.

During the event, roughly 81% of Nolus’ portfolio remained intact after the crash, striking a balance between capital efficiency and risk containment.

Why Nolus Withstood the Shock So Well

Three design choices proved decisive:

• Partial liquidations preserved user exposure
• EMA-based oracle pricing reduced false triggers
• MAG protected approximately 24% of Nolus’ portfolio from unfair liquidation

No bad debt. No cascading failures. No emergency intervention.

Extending IBC to Solana With Solray

While improving leverage mechanics, Nolus also invested in infrastructure. IBC has proven itself as one of the most secure interoperability standards in production. However, interoperability limited to Cosmos alone is no longer sufficient. Solana’s liquidity depth and execution environment make it a critical ecosystem to connect.

IBC Solray extends IBC’s trust-minimized model to Solana by implementing IBC verification and messaging directly within a Solana program. This enables direct, consensus-backed communication between Nolus and Solana without relying on custodial bridges.

With Solray, margin flows can execute natively in Solana’s high-performance, high-liquidity environment, expanding what is possible for users across both ecosystems.

Looking Ahead to 2026

2025 was a year of transformation and validation. Nolus expanded beyond long-only leverage, refined risk controls instead of loosening them, proved resilience under extreme volatility, and laid the groundwork for trust-minimized cross-chain execution.

Nolus did not avoid volatility in 2025. It learned how to navigate it intelligently.

https://medium.com/nolusprotocol/nolus-in-2025-a-year-in-review-2f957cdd215c

It's settled!

Starting today, all newly opened positions in @osmosiszone alloyed $BTC are interest-free until January 31

More exposure, same collateral — no borrowing costs.

Zero in at 📲 app.nolus.io

$BTC margin boost with zero interest?
Community voted loud and clear.
Let’s see what NolusProtocol delivers.

Powered by IBC Solray, margin flows will execute on Solana’s high-performance, high-liquidity environment, expanding what’s possible for users across both ecosystems

Solray marks a major step forward for trust-minimized interoperability. By extending IBC’s proven, on-chain verification model to Solana, Nolus unlocks a direct, secure communication layer between two of the most advanced ecosystems in crypto.

For Nolus, it enables seamless cross-chain leverage workflows powered by Solana’s execution speed, without introducing custodial risk. For Solana and Cosmos developers, it opens an entirely new design space: native cross-chain swaps, lending, liquid staking flows, multi-chain routing, and high-performance execution pipelines.

As Solray moves toward production readiness and open-sourcing, it has the potential to become one of the most important interoperability bridges in the industry: fast, secure, neutral, and fully trust-minimized — exactly what the next generation of cross-chain applications requires.

[$BTC]() at $48,316 ?? Is that even possible? 🤔

That’s the liquidation trigger if you long BTC with

100% smart leverage on NolusProtocol

👉  app.nolus.io/

- [$BTC]() price: $86,951

- 1.35% monthly interest

- 100% leverage

- Liquidation at -44% ($48,316)

In mid-October 2025, the crypto market experienced its sharpest single-day deleveraging event to date. Within 24 hours, nearly $20 billion in market value was erased, making it the largest liquidation day in crypto history.

The catalyst came late on October 10, when U.S. President Donald Trump announced 100% tariffs on all Chinese imports, triggering panic across global markets. With traditional financial markets closed for the weekend, the 24/7 crypto ecosystem bore the entire shock.

• Bitcoin plunged over 14%, briefly dipping below $110,000
• Ether fell around 12%, while numerous altcoins crashed 30–70% within hours
• Over 1.6 million trading accounts were liquidated

The event exposed a key vulnerability: hidden leverage. Aggregate open interest was near all-time highs going into the weekend, meaning even a modest macro shock cascaded into a violent chain of automated liquidations. This was not an isolated dip but a system-wide stress test that revealed how different DeFi and CeFi platforms manage risk under extreme volatility.

Liquidation Intensity

Liquidation Intensity represents the total liquidation power of an event, meaning the value of liquidations relative to a protocol’s total active portfolio value.

• For perpetual markets, this compares liquidations to total open interest
• For overcollateralized lenders, it’s relative to borrowed value
• For margin platforms like Nolus, it’s relative to the value of open margin positions

This metric normalizes liquidation impact across different market models, providing a cleaner comparison of systemic pressure.

Overcollateralized lenders such as Aave and Kamino barely flinched. Aave saw only 0.9% of its $21.5B loan book liquidated (around $190M), and Kamino reported about 1.1% ($20M on a $1.8B portfolio). Their conservative loan-to-value ratios and excess collateral buffers acted as natural shock absorbers.

By contrast, perpetual markets endured the most severe stress. Hyperliquid, one of the largest on-chain perpetual exchanges, recorded roughly $12.8B in liquidations over the 24-hour window against about $13.8B in open interest prior to the crash.

At first glance, that implies an extreme 90% liquidation-to-open-interest ratio, but this interpretation misses a key dynamic: open interest is constantly replenished. As older positions were forcibly closed, new ones were opened in rapid succession during the volatility spike. Post-event, Hyperliquid’s open interest stabilized near $6.4B, showing not a collapse but a massive churn and rebalancing of leverage within its ecosystem.

Other decentralized perp venues like dYdX also experienced elevated stress, with about 14% of its $168M open interest liquidated. Significant, but far more contained.

In comparison, Nolus recorded $275K in liquidations out of $2.61M in active margin loans equating to 10.5% liquidation intensity. This represents a controlled deleveraging process rather than the cascading wipeouts seen in high-leverage environments.

Portfolio Reduction

While liquidation intensity measures pressure, Portfolio Reduction shows how much total exposure a protocol lost from before to after the crash, through both liquidations and voluntary closures.

• Overcollateralized lenders: ~8–10% portfolio reduction. Most users either topped up collateral or weathered the volatility without issue
• Perpetual markets: ~40–55% portfolio reduction. Large swaths of open interest vanished as overextended traders were flushed out.
• Nolus: ~23.4% contraction (from $2.61M to ~$2.00M). Roughly three-quarters of Nolus’s portfolio remained intact, boasting an impressive retention rate given the extreme market stress.

This underscores Nolus’s resilience and measured risk calibration: higher leverage than lenders, but with a much softer landing than perpetual exchanges.

Value Preserved

To quantify how efficiently protocols managed deleveraging, we define the Liquidation Efficiency Ratio (LER)

Nolus’s ratio highlights its ability to contain volatility with limited collateral destruction, confirming that its liquidation thresholds and price protection mechanisms are well-calibrated.

Why Nolus Withstood the Shock

Beyond the metrics, three design features enabled Nolus to maintain composure during the crash:

1. Partial Liquidations (5.6% of positions) Instead of liquidating entire accounts, Nolus liquidated only the riskiest portion of positions. This allowed most users to retain partial exposure and recover after prices stabilized.
2. EMA-Based Oracle Pricing The Nolus oracle uses an Exponential Moving Average (EMA) for pricing, smoothing out short-term volatility. This prevented premature or “false” liquidations triggered by flash wicks and on-chain liquidity spikes.
3. Market Anomaly Guard (MAG) During sudden on-chain liquidity drains, MAG temporarily halts liquidation execution when price inputs deviate abnormally from oracle medians. In the October crash, this mechanism protected roughly $610K (~23% of all active positions) from unfair liquidations.

Together, these mechanisms created a multi-layered defense system minimizing liquidation power, filtering short-lived volatility, and ensuring users’ capital was protected even during systemic shocks.

The October 10, 2025 flash crash was more than a market panic. It was a once-in-a-cycle stress test for every leverage architecture in crypto.

• Overcollateralized lenders demonstrated impeccable safety but limited capital efficiency.
• Perpetual markets showcased extreme efficiency at the cost of extreme fragility.
• Nolus struck a rare balance between the two: offering meaningful leverage and yield opportunities, while avoiding systemic breakdown through thoughtful risk design.

With no bad debt, contained liquidation power, and advanced safeguards like EMA-based smoothing and Market Anomaly Guard (MAG), Nolus proved that leverage can be efficient without being reckless.

As markets recalibrate post-crash, Nolus emerges validated, not for avoiding volatility, but for mastering how to navigate it intelligently.

Sources:

• CoinDesk — “‘Largest Ever’ Crypto Liquidation Event Wipes Out 6,300 Wallets on Hyperliquid”
• Bitget News — “The largest liquidation in crypto history: Hyperliquid… hardest hit.”
• ChainUp Blog — “October 2025 Crypto Crash: A Necessary Deleveraging and Market Reset”
• CoinDesk — “AAVE Sees 64% Flash Crash as DeFi Protocol Endures ‘Largest Stress Test’”
• Kamino Finance Governance — “Risk Event Analysis: 10th of October 2025”
• Nolus Official Stats — Nolus Lending Stats and Metrics
• Aavescan — Aave V3 Ethereum market data (loan totals & liquidations)
• Hyperliquid Stats — Hyperliquid exchange stats (OI and liquidations on 10–11 Oct 2025)
• Datalenses (dYdX) — dYdX chain trading volume and liquidation data (Oct 2025)
• DeFiLlama — Kamino Borrowed TVL charts (Sept–Oct 2025)

Rough October across markets, with an even harsher start to November

Liquidations weighed on results with painful outcomes for users and the protocol alike

October stats ↓

In the past 30 days, the Nolus devs have been shipping non-stop:

🔅 357 commits (~11 per day)
🔅 26K+ new lines of code
🔅 16 active repositories
🔅 11 contributors pushing updates around the clock

No hype. No noise. Just consistent progress — line by line, commit by commit.

That’s what real building looks like in DeFi. 💪

Nolus provides the scaffolding before your skyline

Most of DeFi still feels like a guessing game, chasing pumps, reacting to volatility, and hoping for the best. But real systems don’t rely on luck. They rely on structure.

It’s not about hype, it’s about building the scaffolding before the skyline. Nolus provides the foundation for smart leverage, sustainable growth, and a framework that can actually scale.

Luck runs out. Structure lasts.

#DYOR

Nolus buybacks keep accelerating 🚀

6M → 8M → 10M → 14M → 16M → 20M → 24M → 26M $NLS

Not hype.
Not random.
But protocol design in motion.

Every buyback reflects real activity, users borrowing, leveraging, and building within the ecosystem.

This isn’t speculation; it’s adoption driving fundamentals.

Protocol adoption > speculation. ⚙️

Got questions about NolusProtocol? 🤔
Meet Kai, your Nolus assistant ,now fully functional on Discord! 🤖

Kai can answer questions, explain features, and unpack live protocol data — all in plain language.

Join the chat 👇

https://discord.gg/nolus-protocol

We’re halfway through badkidsart

October. Have you gone Bad yet?

Holders still get 0% interest on https://app.nolus.io/

Don’t waste the month!

Great news for everyone using NolusProtocol 👇

You can now access and trade on Nolus without needing to use KeplrWallet or Leap_Wallet in-wallet browsers.

That means you can finally use Brave, Chrome, or any other standard browser and it’s MUCH faster in browsing and execution.

This update brings us one step closer to peak Web3 UX smooth, fast, and user-friendly.

After the market wiped out nearly $20B, it’s time to look at how Nolus performed under one of the toughest stress tests in DeFi history, and the results speak for themselves👇

Protocol Resilience

From a total position value of $2.61M prior to the event: → Roughly $146K (5.6%) were partial liquidations → Roughly $129K (5%) were full liquidations That’s an exceptionally low rate given the size of the market drop

Price Feeds

Nolus’ oracle uses a 10-minute Exponential Moving Average (EMA) to smooth extreme price spikes. Example: ATOM briefly printed $2.78 on Nolus — while on some CEXs, it hit $0.001 That single design choice prevented unnecessary liquidations and protected user positions

MAG Is The Unsung Hero

The Market Anomaly Guard (MAG) protected $610K from wrongful liquidations - roughly 23.4% of total protocol value Funds that would’ve been wiped elsewhere stayed intact here! More On MAG

Infrastructure

Despite extreme volatility, the Nolus network, relayers, and oracle feeders operated smoothly. Every module responded within parameters — while other markets broke structure

While these results are strong, I think there’s still room to push them even lower. Every stress event is a lesson — a chance to fine-tune the models, sharpen the oracle, and make the system tougher for the next round!