1/ Welcoming @solsticefi to Kamino.

$eUSX is now available as collateral, powered by Solstice’s delta-neutral strategies yielding around 8% APY.

Earn Flares across $USX and $eUSX positions—exclusively on Kamino 🧵 2/ Solstice brings institutional-grade yield infrastructure to Solana.

Its delta-neutral engine has delivered consistent, market-independent performance with over $200M in TVL and a three-year positive track record, making USX the 5th largest stablecoin on Solana.

1/ Kamino Season 3 has concluded, and a total 350M KMNO will be distributed to users in May

This amounts to a ~$26M distribution, with a substantial benefit to users who staked KMNO throughout the season

Airdrop checker, S3 analysis, & S4 info below⤵️ 2/ As points are accrued via direct product usage, the best way to define KMNO allocations is as yield earned in addition to interest generated on the protocol

During Season 3, Kamino generated a total of $72.9M interest for users.

Thus, defined as yield earned in addition to the $72.9M interest generated, a 350,000,000 KMNO distribution translates to an additional $26M of yield at current prices.

Ultimately, then, a 3.5% distribution provides a 35.6% boost to yield generated on the protocol during Season 3

1/ Introducing Kamino Meta-Swap

Delivering the best price execution for any token swaps on @solana—aggregating across all major routes, while introducing a brand new RFQ system powered by @PythNetwork Express Relay

Now live at: swap.kamino.finance 2/ The vision is simple:

Kamino Meta-Swap enables extremely accurate pricing, extremely reliable swap execution, sourced across all possible routes, packaged into a single Swap UX

Kamino aggregates 5 routes & a wide searcher network, making it the largest aggregator on Solana

1/ Thanks to Kamino's unique oracle infrastructure, SOL Multiply positions are immune to LST price depegs

In short, users can boost their SOL APYs, without being affected by liquidity conditions on the network

This changes the game for SOL holders🧵 2/ LSTs on Solana have two price sources:

⚖️ Market Price

Determined by prices in liquidity pools on the network

These prices can depeg vs SOL if a severe sell-off event happens without deep enough DEX liquidity to support it

📈 Stake Rate Price

The price as determined by the SOL yield accrued via staking, and expressed in relation to SOL itself. As yield accrues via staking, the LST prices increases relative to SOL

These prices (sometimes referred to as the theoretical price) are not affected by liquidity conditions on the network, and are "up-only" vs SOL

1/ Introducing Kamino Swap

An intents-based exchange platform that will offer the best price execution at any size, for any token on Solana, powered by @PythNetwork

Zero slippage. Zero fees. Zero MEV.

Limit Orders are now live in open beta: swap.kamino.finance 2/ Kamino Lend is built with a relentless focus on risk management, of which the liquidation engine is a critical part

While working with Pyth to design a better liquidation UX, however, it became increasingly clear that the problem faced by Kamino went beyond Kamino itself

Full article:
gov.kamino.finance/t/introducing-…

1/ Kamino is going modular

In V2, the Market Layer will allow permissionless deployment of lending markets, enabling virtually endless possibilities for new markets, unique asset, and tailored risk parameters

A quick look at Kamino's new market primitive🧵 2/ The Market Layer can support a huge range of market types, even going as far as institutional or KYC'd markets

V2 massively expands what's possible on Kamino, and can enable aggressive scaling of the protocol without compromising on security🔒

Season 2 of Kamino Points is now live

More products, more boosts, and more rewards - Season 2 can become even bigger than Season 1

Season 2 will run for 90 days following the $KMNO launch

View the Points Hub: app.kamino.finance/points
Loyalty Boosts

All Season 1 users already see a loyalty boost in their Season 2 Points Hub. Loyalty boosts are awarded according to duration of usage in Season 1

The maximum boost is 10% - awarded if a wallet was active for the entirety of Season 1

KMNO Staking

$KMNO Genesis is fast approaching - and soon after, users will be able to stake their $KMNO, or $KMNO LP tokens, to earn further points boosts.

As has been the case for all Kamino initiatives thus far, longevity will again be heavily rewarded

More details will be revealed in the build-up to the $KMNO launch

$KMNO

Kamino Points Season 1 snapshot will be taken on March 31st, and will culminate in the Genesis Distribution of $KMNO in April

$KMNO Genesis is an important step in establishing the decentralized governance of Kamino Finance🧵 $KMNO holders will be able to participate in governance regarding various parts of Kamino

The scope of governance will increase over time as the protocol trends towards full decentralization

1/ Kamino Points is now live

You can now view & track your points in the Points Hub:

Welcome to the next chapter of Kamino Finance app.kamino.finance/points
2/ Using ANY product on Kamino earns points.

Borrow/Lend, Liquidity Vaults, Multiply and Long/Short. But some activities are more valuable than others👀

Default Point Rates:

- Kamino Lend Supply: 1 point per dollar per day
- Kamino Lend Borrow: 1 point per dollar per day
- Kamino Liquidity Vaults: 1 point per dollar per day

Launch Boosts:

- SOL, USDC, USDT, USDH Supply: 3 points per dollar per day
- SOL, USDC, USDT, USDH Borrow: 5 points per dollar per day
- Vault Boosts will follow soon

NOTE: All boosts count for Multiply and Long/Short - enabling far more points per dollar.

Full overview: docs.kamino.finance/kamino-points/…

1/ Kamino Liquidity is an automated LP product that delivers institutional-grade liquidity strategies to retail users - at the click of a button

Our Liquidity Vaults have revolutionized the UX for LPs in Solana DeFi🧵 2/ Kamino Vaults removes the friction from liquidity provision.

All Kamino vaults feature:

- Single-token deposits (Kamino swaps for you)
- One-click transactions (yes, with Ledgers too)
- Auto-compounding (never harvest LP fees & incentives again)
- Auto-rebalancing

gm.

1/ If you're here, you're obvs a big 🧠who traded Saturday morning cartoons for Crypto Twitter. Now you gotta help us figure out what this means:

AMM ≠ CLOB ≈ CLMM ≈ AMM ≠ CLOB

Grab your cereal, and let's go👇 2/ We still talking CLOBs vs. AMMs in 2023? Yes.

Huge differences between a central limit order book (CLOB)

and a constant product market maker (just AMM),

but the concentrated liquidity market maker (CLMM) is similar to both.

We kinda covered this:

https://twitter.com/Kamino_Finance/status/1628019210977742850

1/ Impermanent loss is a law of the markets, and it's not changing any time soon.

If you want to be a big-brain LP, you need know how IL works, and how to navigate it.

Hold on tight, and let's dive in👇 2/ wtf is IL?

Impermanent Loss occurs when you are providing liquidity for two tokens, and the market moves in such a way that you would have ended up with more $ value, had you simply held 100% of your capital in one, or the other token, instead of providing liquidity for both.

1/ kTokens can now be integrated into any DeFi protocol on @solana, and building out a reliable pricing mechanism for each kTokens has made this possible

So, how does kToken pricing work, and how is @switchboardxyz enabling it to be used across the ecosystem?

A 🧵 2/ Each kTokens contains two assets, and represents a user’s deposit into a Kamino Vault

In practice, if a user deposits into the $USDH - $SOL Vault, their funds are deployed into the $USDH - $SOL Whirlpool on @orca_so, & their kTokens consists of the 2 assets, typically ~50/50

1/ kTokens are live & ready for leverage on @solendprotocol

As Kamino’s first lending integration, Solend has onboarded 2 kTokens to the Kamino USDH Pool, allowing you to borrow any combination of $USDH, $USDC, $BTC, $ETH, $SOL & $mSOL

Kamino x Solend🧵
blog.kamino.finance/solend-adds-kt… 2/ Quick look at kTokens

kTokens are standard SPL tokens, representing the value a user deposited into a Kamino Vault. As Kamino vaults auto-compound fees & rewards from concentrated liquidity pools, kToken values grow over time, making them the ultimate yield-bearing collateral