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What is Kamino Finance (KMNO)?
Kamino Finance is a DeFi protocol on the Solana ecosystem that combines three core elements: Lending, Liquidity, and Leverage to create a powerful and user-friendly decentralized financial product suite for all user types. The project was initially developed to simplify liquidity provision and auto-compounding on DEXs using Concentrated Liquidity Market Maker (CLMM) models, before expanding into lending and leveraged products.
With a TVL exceeding $1.3 billion in the first three months of 2024, Kamino has become one of the fastest-growing DeFi protocols on Solana, recognized by the community as a next-generation protocol serving both individual and institutional users.
How does Kamino Finance work?
Kamino operates on a peer-to-pool lending model, with the K-Lend infrastructure playing a central role. K-Lend uses a Unified Liquidity Market system and Elevation Mode mechanism to enhance capital efficiency and leverage capabilities.
Users can deposit assets into lending pools for lending, or borrow assets by collateralizing other assets - including LP tokens (kTokens). All loans are managed through an intuitive dashboard with risk data and real-time loan details.
Kamino also integrates Multiply and Long/Short Vault products, allowing users to open leveraged positions with just one click. Everything is packaged in a modern UX interface, supporting analysis, risk simulation, and automated asset management.
Kamino Finance Products
Kamino Swap
Kamino has just launched Kamino Meta-Swap, an advanced asset exchange platform on Solana that goes beyond a typical aggregator. The highlight of Meta-Swap is the Active Simulation Mechanism – an exclusive algorithm that helps determine the most accurate price for users, eliminating phantom quotes and failed transactions. Each time a user places an order, the system simulates all possible exchange routes in real-time, selecting the route with the best and most feasible exchange rate.
Additionally, Kamino has integrated a new RFQ (Request For Quote) system based on Pyth Express Relay, allowing users to receive competitive quotes with 0 fees, 0 slippage directly from liquidity providers. Kamino Meta-Swap is setting a new standard for swap experience on Solana – faster, more accurate, and more optimized than ever.
Multiply Vault
Allows users to use leverage when staking assets like JitoSOL, bSOL, mSOL,… Users can achieve leverage up to x5. Multiply leverages K-Lend to borrow assets and reinvest in the initial position, creating an automatic loop.
Kamino Lend (K-Lend)
It is the core lending infrastructure of Kamino. Allows users to borrow and lend assets with high leverage through the Elevation Mode mechanism – grouping highly correlated assets (such as SOL and liquid staking tokens) to optimize LTV up to 95%. K-Lend also supports LP token collateral and automatic liquidation management.
Long/Short Vault
Allows users to open Long or Short positions with assets like SOL using simple leverage. Kamino automatically collateralizes, borrows assets, and swaps to simulate futures experience without requiring a CEX.
Automated Liquidity (Liquidity Vaults)
The protocol provides liquidity vaults for CLMM DEXs, with auto-rebalance and auto-compound features. Users receive kTokens and can use kTokens as collateral in Kamino Lend.
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