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What is Kamino Finance?
Kamino Finance is a decentralized finance protocol that operates on the Solana ecosystem, enabling debt issuance, borrowing, and trading.
Kamino Finance incorporates a host of financial applications, including debt issuance, borrowing, liquidity provision, beta-phase multiply, and leveraged transactions.
Borrowing: By providing liquidity on the platform (which is used as collateral), users can borrow in accordance with the dollar equivalent at that time. This loan is repaid at an annual interest rate.
Lending: By providing liquidity on the platform, users can earn interest returns at the annual percentage rate offered.
Multiply (Beta): Users set a multiplier on the platform and invest sol or liquid-staked assets. They are then provided a loan through JitoSol and earn APY returns at your multiplier rate. The application also includes various tools, such as a risk simulator.
K-Lend:
Kamino lends or K-lend is a dApp that combines the advanced liquidity provider features of high-infrastructure liquidity lending platforms like Aave, Curve, and Uni. It forms the basis of Kamino 2.0.
K-lend aims to combine various features such as an advanced risk management mechanism (benefiting from Oracle), eMode technology used in Aave v3 (customized leverage mechanism), a single pool liquidity system, and protected collateral in the K-lend dApp.
Airdrop and Token Allocation
As of the writing of this article, Kamino has a TVL of 135 million dollars and is the fifth largest in the Solana network. Kamino, which came to the agenda with an airdrop and stirred up the Solana ecosystem with its partnership with Jito and having no circulating tokens, has brought up airdrop questions.
On November 28th, Kamino announced a scoring system on their Medium page and will soon disclose the details and requirements of this system. Assuming that this scoring will be like other lending platforms (Marginfi and JTO);
- Staking SOL or another supported asset on the platform
- The amount of time and stake amount on the platform
- Borrowing and lending
- Generating TX at different times
- Referral points
These conditions can be set, and after these conditions, your rank is determined, and if there will be an airdrop, the amount of token that will be given to you can be given under these conditions.
It is hard to predict this amount at this stage but JTO distributed 10% of the supply. Generally, projects distribute 5% to 10% of supply through airdrops. Presuming a token market cap of approximately 350M dollars, we could consider a 35M dollar airdrop.
Kamino Finance Team
While there isn’t sufficient information about the team, we can see that there are 13 employees on LinkedIn and only four profiles are open. Although the team is not often on camera, they are active on Discord and have made various posts regarding the project.
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