Kamino Holds $4B as Solana Lending Tops $4.26B

Total deposits in Solana’s lending markets reached $4.26 billion, according to a new dashboard that also shows Kamino Finance holds more than $4 billion of that total.

The dashboard displays live data on deposit flows, utilization rates and cross-protocol integrations across Kamino, Jupiter and other Solana lending services. It shows which protocols receive deposits, how much of those deposits are being lent out, and where capital moves between services.

Kamino published a security page that lists its audit history and formal verification partnerships. Formal verification uses mathematical proofs to confirm that smart contract code performs as written.

DeFi Development Corp., which trades under the ticker DFDV, announced it has signed a letter of intent to integrate its liquid staking token, dfdvSOL, into Kamino’s lending markets and Multiply Vaults. Under the letter of intent, holders of dfdvSOL would be able to use the token as collateral for borrowing or to leverage it for additional yield. The agreement remains at the LOI stage; both parties indicated they may explore further integrations tied to real-world assets.

Separately, RockawayX introduced a Real World Asset Vault on Kamino designed to generate yield from stablecoins and real-world assets. The vault targets a market-neutral strategy intended to produce returns without relying on sustained crypto price increases.

Kamino’s share of deposits means the majority of Solana lending deposits are concentrated in a single protocol. The dashboard provides a real-time view of where deposits are parked and how protocols are being used.

Market participants will watch whether the DFDV integration advances beyond the letter of intent and how the addition of real-world asset strategies on Kamino affects deposit composition and lending activity on Solana.