Banx

Banx was a peer-to-peer lending protocol on Solana. Users borrowed SOL against NFTs and, in its later versions, against tokens. Its loans had no fixed term and no price-triggered liquidation. Banx grew out of Frakt, one of Solana's early NFT projects.

As of 25 October 2026, Banx appears to be inactive. Its banx.gg website and docs no longer resolve. DefiLlama marks its URL as dead and has tracked its TVL at zero since early May 2026. Its X account has not posted in the past year. We found no formal shutdown announcement, so the exact closing date is unknown. Treat what follows as a record of what Banx was, not a recommendation to use it.

Is Banx still working?

No. Every sign we checked on 25 October 2026 says it has stopped:

• Website and docs offline. banx.gg, www.banx.gg and docs.banx.gg all failed to resolve in DNS from two separate fetchers. Other .gg domains resolved normally at the same time.
• TVL at zero. DefiLlama's Banx data flags the project's URL as dead. Its tracked TVL fell from about $15,000 to zero in early May 2026 and has stayed there.
• No social or code activity. The @banx_gg account has not posted in the past 12 months. The team's GitHub organisation shows its last frontend update in April 2025.
• Token barely trading. On 24 October 2026, our token data showed the BANX token with under $50 of daily volume and no tracked liquidity.

An old copy of the app frontend is still hosted at banx-ui.vercel.app. A hosted frontend can outlive the team behind it, so it is not a sign that the protocol is maintained. Anyone who still has a loan, offer or staked position should check it on-chain and should not deposit new funds.

How Banx NFT loans worked

Banx described itself as the only perpetual P2P NFT lending protocol on Solana, in its Jupiter LFG launchpad submission of February 2024.

Borrowers pledged an NFT and took a SOL loan from a lender's offer. Loans had no expiry date. Interest built up only while the loan was open, and the borrower could repay at any time.

Banx did not use a price oracle. A fall in an NFT's floor price did not liquidate a loan on its own. A lender who wanted their SOL back sold the loan to another lender or called it. That opened a refinancing auction. The NFT went to the lender only if nobody stepped in to refinance. The app summed this up as "no expiration, no price liquidation."

Banx token loans, Multiply and vaults

The last version of the app frontend shows Banx had grown beyond NFTs. It offered token-backed borrowing, including USDC markets, and a "Multiply" feature for leveraged yield. Lenders could use curated vaults for passive yield, set their own offers, or buy existing loans on a loans market. A rewards leaderboard and staking for Banx NFTs and BANX sat alongside these.

BANX token and Banx NFTs

BANX was meant to share the protocol's revenue. In February 2024 the team said all protocol revenue went to people who staked BANX. The token was due to launch at the end of March 2024. Holders of the older FRKT token could swap it for BANX.

CoinMarketCap lists a total supply of 15 billion BANX. Nearly all of it is in circulation.

Banx also had its own NFT collection. Holders could stake these NFTs in the app for rewards. They replaced Frakt's older NFTs when the project rebranded in late 2023.

Who Banx was for

Banx suited Solana NFT holders who wanted to borrow SOL without selling. It also suited lenders happy to judge what an NFT was worth on their own.

Today it is not a sensible choice for anyone. The site is offline, the money has left, and there is no sign of a team.

Banx risks: open loans, staked positions and BANX

• No working official interface. With banx.gg offline, users have no supported way to manage loans or offers. A leftover frontend or a direct program call may work, but nobody appears to maintain either.
• Unattended loans. Under Banx's design, a lender who calls a loan can take the NFT if no one refinances it. With few or no active lenders, a called loan is much less likely to find a refinancer.
• Program control unknown. Our records hold no Banx program addresses, so we could not check who controls program upgrades. Without a team in place, that authority may sit with keys nobody is watching.
• Illiquid token. BANX has close to zero trading volume and no tracked liquidity. The revenue it was meant to share depends on a protocol that no longer appears to earn any.

We found no public audit report for Banx in the sources we checked.

Banx alternatives for NFT lending on Solana

Sharky SHARK$0.00062-1.0% lets you borrow against NFTs on Solana. It launched in 2022, and its site was still up in October 2026. Rain.fi offers loans against both tokens and NFTs. Check that either one is still busy before you deposit. Our list of lending apps on Solana covers the active options.

Banx team and history

The Frakt team built Banx. Its co-founders were Timur Samoylov (CEO) and Vedamir Efanov (CTO). In February 2024 the team said it had 13 full-time staff.

The team made some claims in its Jupiter submission. It said it had earned $3.3 million since 2021. It said deposits peaked at 250,000 SOL in July 2022. It also said Banx won about 23% of Solana NFT loans within three months of relaunching in November 2023. Nobody has checked these figures independently.

DefiLlama shows TVL declining through 2025 and reaching zero in May 2026.