Kamino has officially launched Kamino Lend V2, a transformative upgrade that introduces modular lending infrastructure to the high-performance blockchain. Announced today, V2 builds on the battle-tested V1 codebase to deliver a suite of advanced credit products, including automated lending vaults, margin leverage trading, and real-world asset (RWA) integration, positioning Kamino as a cornerstone for both institutional and retail growth in Solana’s DeFi ecosystem.
With $4 billion in assets under management (AUM), Kamino has solidified its reputation as Solana’s most trusted borrow/lend platform over the past two years. The launch of V2 marks a pivotal moment, enhancing the protocol’s ability to meet the rising demand for sophisticated credit solutions while maintaining its obsessive focus on risk management and security.
A Robust Foundation for Next-Generation Credit
Kamino Lend V2 leverages the proven V1 codebase, which has undergone 14 audits, formal verification, and facilitated billions in borrowing volume, making it the most robust borrow/lend platform on Solana. By preserving this codebase at the core of V2, Kamino ensures continuity and security, eliminating the need for users to migrate funds to new smart contracts. This approach underscores Kamino’s commitment to minimizing risk across its entire stack.
What Kamino Lend V2 Brings to Solana
Kamino Lend V2 introduces five core products and upgrades designed to redefine credit on Solana:
- Curated Earn Vaults: These automated lending vaults optimize yields across diverse markets based on user-selected risk profiles—Conservative, Balanced, or Aggressive. Managed by expert curators like Steakhouse Financial, Re7 Labs, Allez Labs, and MEV Capital, the vaults automatically rebalance deposits to maximize returns while adhering to specified risk mandates. The Earn Vault smart contract has been rigorously audited by Osec, Certora, Offside Labs, and Sec3.
- Pro Borrow UX: Kamino’s new Loan Dashboard provides a data-rich borrowing experience, offering real-time analytics for every position. Features include liquidation risk analysis, scenario simulations based on historical market events, interest tracking, and historical loan-to-value (LTV) data. This dashboard aims to bridge the gap between DeFi and traditional finance (TradFi) by equipping borrowers with sophisticated risk management tools.
- Modular Market Layer: Built on the V1 codebase, V2’s modular market infrastructure enables instant market creation with customizable risk parameters. This flexibility supports diverse use cases, including permissioned KYC markets, fixed-rate borrowing, custodial lending, and staked SOL as collateral. At launch, Kamino introduces 10 new markets with over $285,000 in monthly incentives, including partnerships with Marinade Finance, Solblaze, Sanctum, and others.
- Margin Leverage: Designed for users seeking cost-efficient, long-term leverage, Margin Leverage offers a classic trading interface with lower fees than perpetual futures platforms, yield on collateral, soft liquidations, and liquidation-protection features. It taps into Kamino’s deep liquidity pools, providing access to major pairs from day one.
- Kamino RWAs: Kamino is poised to lead the integration of real-world assets on Solana, starting with ACRED, a tokenized private credit fund from Securitize, in collaboration with Steakhouse Financial. V2’s modular infrastructure and leveraged-yield products via Kamino Multiply will unlock significant growth for RWAs, catering to institutional demand.
Powering Solana’s DeFi Evolution
Solana’s DeFi ecosystem is experiencing unprecedented institutional interest and asset issuance, driven by its high-speed, low-cost infrastructure. Kamino Lend V2 is uniquely positioned to meet this demand, offering a versatile platform that supports a wide range of assets, from stablecoins to yield-bearing derivatives and tokenized RWAs.
The protocol’s partnerships with industry leaders like Securitize, Steakhouse Financial, and Marinade Finance highlight its role as a catalyst for Solana’s growth. By introducing leveraged RWA yield loops and sophisticated market infrastructure, Kamino is paving the way for DeFi to compete with traditional financial systems.
A Commitment to Security and Transparency
Kamino’s obsessive approach to risk management is evident in V2’s development. The protocol has enhanced its risk dashboard and collaborated with external risk managers to provide robust tools, including loan risk notifications, stress testing, and penetration testing. The quadruple-audited Earn Vault smart contract and ongoing external audits further reinforce Kamino’s dedication to user safety.
What’s Next for Kamino
Kamino Lend V2 is now live on Solana’s mainnet, and users can explore its new features, including Earn Vaults, Margin Leverage, and the Loan Dashboard, via the Kamino platform. The protocol has teased plans to expand its RWA offerings and modular markets in the coming months, with additional assets and partnerships possibly on the horizon.
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