Kamino
Credit · KMNO
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
Risks identified
- Network
Kamino is entirely Solana-native. A Solana network outage, congestion or halt (Solana has experienced multiple downtime incidents) can prevent liquidations, oracle updates, deposits and withdrawals, potentially leaving positions unmanageable or under-collateralized during volatility.
- Oracle
K-Lend relies on Kamino's Scope oracle aggregation layer and underlying price feeds (e.g. Pyth/Switchboard). Stale, manipulated or mispriced feeds — especially for thinner Solana collateral or LP/liquid-staking tokens — could cause faulty liquidations or allow bad debt to accrue.
- Collateral
Kamino accepts yield-bearing and less-liquid Solana collateral (liquid-staked SOL, LP tokens, and tokenized RWAs like ACRED). Depegs, liquidity crunches or redemption gating on such collateral can outpace liquidations and create protocol bad debt.
- Smart Contract
Despite ~20 audits and no critical findings to date, Kamino's klend, vault, farms, scope and LIMO programs are complex Solana smart contracts; a bug or exploit in any component, or in the automated leverage/Multiply logic, could lead to loss of user funds.
- Governance
The KMNO token controls incentive programs, risk parameters and revenue disbursement. Concentrated token holdings or governance capture could push through risk-parameter or market-listing changes that favor insiders or introduce unsafe collateral.