Kamino is a Solana DeFi application that combines lending and borrowing, managed Earn vaults, leveraged Multiply positions, automated concentrated-liquidity vaults, token swaps and limit orders. Its Portfolio view brings together positions, net value, rewards and transaction history for the connected wallet.
| Your task | Relevant product | Main check |
|---|---|---|
| Lend through a vault | Earn | Curator, assets, fees and withdrawal liquidity |
| Borrow against assets | Borrow | Interest and loan-to-value ratio (LTV) |
| Leveraged exposure | Multiply | Leverage, liquidation and transaction costs |
| Provide pool liquidity | Liquidity | Range, assets and strategy |
| Exchange assets | Swap | Quote, route and total received |
What you can do with Kamino
- Earn: deposit one supported token into a curator-managed vault that allocates capital across Kamino lending reserves.
- Borrow: supply assets, use eligible deposits as collateral and borrow through variable- or fixed-rate products.
- Multiply: open and manage leveraged positions through borrowing and swaps completed in an atomic transaction.
- Liquidity: use vaults that automate token ratios, fee reinvestment and range rebalancing for concentrated-liquidity positions.
- Swap: route market swaps across external venues or place limit orders at a specified rate.
Kamino also documents Institutional Yield products with separate structures, agreements and risk disclosures. Their availability and requirements may differ from the protocol’s standard onchain lending markets.
Quick decision
- Useful for: Solana users who want to manage lending, borrowing, leveraged positions, automated liquidity or swaps from one interface.
- Less suited to: users seeking non-Solana execution, guaranteed returns, principal protection or products without smart-contract, curator or liquidation risk.
- Account required: no separate user account is documented for the standard application.
- Wallet required: yes. A compatible Solana wallet, the assets required for the selected action and enough SOL for network fees are needed.
- Main limits: rates, caps and vault allocations can change; withdrawals can depend on reserve liquidity; leveraged and borrowed positions can be liquidated; fees vary by product or curator; and some services are unavailable in restricted jurisdictions.
Review the live market, vault or transaction parameters before signing, because static rates and limits can become outdated.
Understand product-specific costs
Borrow has no deposit, withdrawal or origination fee, but debt incurs interest and unhealthy positions can incur liquidation penalties. Curator fees on Earn vaults can include performance and AUM fees or a withdrawal penalty. Multiply documents a 0.001% flash-loan fee on opening, adjustment and closing. Swap has no platform fee; network, route and price-impact costs remain separate.
Fixed rates and liquidity strategy
A fixed borrowing rate is fixed for a term, not forever. New fixed-rate loans default to automatic rollover; an unsuccessful rollover can lead to collateral-funded auto-repayment. An early repayment penalty can apply in the first term. Review these conditions before opening or renewing a loan. Liquidity automation also depends on the selected strategy: a fixed-range vault does not necessarily rebalance like a dynamic one.