Kamino

Credit · KMNO

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Kamino Finance is a major Solana lending and liquidity protocol where markets and vaults are separated by asset, risk profile and strategy.

Solana-native lending with isolated/curated markets.

KMNO price

$0.0197

-0.2% 24h

Latest data · 15 min delay

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Research

Components, facts, FAQ, timeline, and tokenomics in one place

Main components (4)

Kamino Lend (K-Lend)

Kamino's core money market on Solana, letting users supply yield-bearing and blue-chip assets as collateral and borrow against them in non-custodial, over-collateralized markets. It is the largest lending protocol on Solana. The open-source klend smart contract underpins all borrow/lend activity, and V2 (launched May 2025) added modular market creation with customizable risk parameters, permissioned/KYC markets and fixed-rate borrowing.

Automated Liquidity Vaults

Kamino's original product (launched August 2022), providing automated concentrated-liquidity management on Solana AMMs (e.g. Orca, Raydium). Vaults auto-rebalance LP positions and compound fees so users can earn liquidity-provider yield without actively managing ranges. Kamino Earn Vaults extend this to curated lending strategies with conservative/balanced/aggressive risk tiers managed by firms such as Steakhouse Financial and Re7 Labs.

Leverage / Multiply

Products built on top of K-Lend that let users take leveraged, looped positions in a single click. Multiply loops a collateral asset (e.g. staked SOL, or the ACRED tokenized credit fund) to amplify yield exposure, while Long/Short margin leverage offers spot leverage trading with liquidation protections and typically lower fees than perpetual futures.

KMNO token

Kamino's native governance and rewards token on Solana, launched 30 April 2024 with a fixed maximum supply of 10 billion. KMNO governs the protocol (incentive programs, revenue disbursement, risk parameters) and is distributed to active lenders, borrowers and liquidity providers through seasonal reward campaigns and an initial Genesis airdrop.

Differentiator

Solana-native isolated/curated lending — a major cross-chain competitor, but metrics come from Solana programs/accounts rather than EVM contracts.

Organizational structure

Units & roles

Kamino Labs (Hubble Protocol team)
The team that builds and maintains the Kamino protocol, evolved from Hubble Protocol (founded 2021). Marius Ciubotariu is co-founder of Hubble and project lead of Kamino. The team is associated with a London base / British Virgin Islands entity.
Core development team
Kamino Foundation
The Kamino Foundation issued the KMNO governance token (announced March 2024, launched 30 April 2024) and stewards decentralized governance. KMNO holders vote on incentive programs, revenue disbursement, risk parameters and protocol operations via the Kamino governance forum (gov.kamino.finance).
Token issuer & DAO steward

Similarity to traditional finance products

How Kamino maps onto established TradFi structures, and where it diverges.

TradFi product	Similarity to Kamino	Key differences
Secured lending / money-market desk	Like a collateralized lending desk, Kamino Lend lets depositors earn yield on supplied assets while borrowers post collateral and pay floating (or, in V2, fixed) interest on loans.	It is fully on-chain, non-custodial and permissionless (aside from optional KYC markets), with liquidations executed automatically by smart contracts and no central credit officer, balance sheet or deposit insurance.
Private-credit fund access (Apollo ACRED)	Via the ACRED integration, Kamino gives users exposure to Apollo Global's private credit strategy, similar to buying into an institutional credit fund.	Access is tokenized under Securitize's regulated sToken framework on Solana and can be leveraged/looped or used as collateral through Kamino Multiply, whereas a traditional fund is illiquid and gated to accredited/institutional investors.