Kamino

Kamino combines a Solana lending market with automated vaults that manage concentrated-liquidity LP positions for you, trading some control and fee upside for not having to actively rebalance a CLMM position yourself. On the lending side it works like other Solana money markets; on the vault side it automates the active management that CLMM positions on protocols like Orca or Raydium otherwise require.

What it’s for

On the lending side, supply an asset to earn yield from borrowers, or post collateral to borrow. On the vault side, automated strategies handle range rebalancing, which suits users who want CLMM-style yield without monitoring positions themselves.

Fees

Lending-side rates float with supply and borrow demand for each market, same as any Solana money market — check the app for current rates. Automated vaults typically take a performance and/or management fee on top of the underlying pool’s swap fees; check the specific vault’s fee disclosure before depositing.

Pros and cons

• Pro: removes the manual-rebalancing burden of running a CLMM position yourself.
• Pro: multiple isolated lending markets let you choose a risk tier rather than one blended pool.
• Con: vault strategy logic is an extra layer of smart-contract complexity on top of the underlying AMM it manages positions in.
• Con: an aggressive rebalancing strategy in volatile markets can underperform a manually managed, more conservative range.

Track record

Kamino has grown into one of the larger lending and liquidity-management protocols on Solana, with multiple isolated lending markets for different risk profiles. As with any protocol offering automated strategies, the vault’s rebalancing logic is an additional layer of complexity on top of the underlying pools it manages positions in.

Risk considerations

For the lending side, standard lending risks apply — see our lending and liquidation risk guide. For automated vaults, you’re trusting both the vault’s strategy logic and the underlying AMM contracts it deploys into; a bug or an aggressive rebalancing strategy in volatile markets can cost more than manually managing a wider, more conservative range yourself. Understand which specific vault strategy and risk tier you’re using before depositing meaningful capital.