@MagpieLoans

MagPie is a permissionless lending protocol on Solana that allows users to borrow SOL against memecoins and tokenized stocks, with integration via Telegram.

The protocol claims 360+ SOL lent across 212 approved assets and features an AI agent (Pip) for credit scoring.

However, the account was just created in April 2026 (2 months old), and recent tweets mention a contract exploit (4.3 SOL lost), coordinated FUD, and wallet integration issues with Phantom blocking transactions due to being a new protocol.

Green flags: Working product on Solana mainnet with real loan volume (360+ SOL) · Novel use case combining memecoins, tokenized stocks, and AI agent credit scoring · Transparent on-chain data and protocol metrics · Small following (<3k) qualifies as early-stage

Red flags: Just experienced a contract exploit (June 7, 2026), even if minor · Brand new account (created April 2026, only 2 months old) · Phantom wallet blocking transactions due to new/untrusted protocol status · Mentions coordinated FUD and scam impersonation attempts · Permissionless lending on highly volatile memecoins presents significant risk · Anonymous team with no disclosed backing or audit information