Provider at a glance
- Category
- Lending & Borrowing
- Entity
- All 2 Kamino products
- Official website
- kamino.com
Independent rankingchecked How it works
Details
Scored 74 out of 100 under methodology 2026.10.18, from the evidence read in September 2026.
Kamino Lend
Lending market on Solana
Lending & Borrowing
#5 Overall
Ranked #5 of 8 lending & borrowing in the published ranking
74
ChainChoice Score
The ChainChoice Score, shown against 100: published scores run from 41 to 99.- High evidence confidence
Is Kamino Lend right for you?
Right for you if these matter most
- Contagion between markets9/10, the category best
Look elsewhere if these come first
- Liquidation price6/10 here; Euler V2 scores 7
- Who sets your rate8/10 here; Compound scores 9
- Loss record published7/10 here; Euler V2 scores 8
Not yet tested for your country. Markets it lists: Global.
to test where you can use it.
The rank above is the published one, the same for every reader. Find my best crypto lending platform shows where it lands for you.
What will Kamino Lend cost you?
Not priced on this basis
- Amount borrowed
- $10k
How safe is Kamino Lend?
- Evidence: verified4 of 4 criteria rest on quoted, sourced receipts. Read September 2026.
- LicenceMiCA (EU): no register record on file here.
Alternatives to Kamino Lend
Compare all 4- 4Euler V23 points above · stronger on liquidation price (7 against 6)77
- 6CompoundLevel on score · stronger on who sets your rate (9 against 8)74
- 7Fluid (Instadapp)1 point below · weaker on contagion between markets (8 against 9)73
For your setup
Find out if Kamino Lend fits you
The rank above is the published one — the same for every visitor. Answer the category's questions and this section shows where Kamino Lend lands for you, which criteria your answers weight up, and which stated needs the record does or does not meet. The published rank stays beside it.
- A few questions
- No account required
- Ranking-blind: no commercial input
- Personalised in under 60 seconds
Find my best crypto lending platformNothing is inferred from clicks, popularity or commercial value.
Why this rank
Why Kamino Lend ranks #5
Each strength is read from evidence on a 0–10 ladder and weighted as the published methodology states. The 32 objective points these produce (23.7 here) sit inside the score; availability, friction, trust record and measured data add the rest. Best in this ranking on 1 of 4.
4 published criteria · Σ weight 100
CriterionWeightStrength · 0–10ScoreContrib.MedianBestRankEvidence
326+6.146.59#5/8Loading evidence…
248+6.149.010#6/8Loading evidence…
249+6.918.09#1/8Loading evidence…
207+4.487.09#4/8Loading evidence…
Hairline = best in this ranking · tick = its median · a missing bar is "not scored", never zero
Margin−3behind Euler V2, #4
RobustnessOne point from changingacross a one-point change to each of its 4 criterion scores, the re-run scores 72–76 and ranks #5–#7
Evidence4 of 4 scored4 quoted, 4 with a source link
What would move the rank
Each line is the ranking run again with one of Kamino Lend’s criterion scores changed and every other value held: the smallest whole-point change on that criterion that moves its rank, and where the re-run puts it. Up to 4 climbs and 3 falls are listed, smallest change first. Nothing here is a forecast.
What price gets you liquidated, and how far can it drift? 6 → 8 on its ladder · passes Euler V2+278#5 → #3
Has it lost lender money before, and did it publish it? 7 → 10 on its ladder · passes Euler V2+378#5 → #3
What price gets you liquidated, and how far can it drift? 6 → 5 on its ladder · Compound passes it−172#5 → #7
Who sets your rate — a utilisation curve or a curator? 8 → 7 on its ladder · Compound passes it−173#5 → #7
If one market goes bad, how much of yours goes with it? 9 → 8 on its ladder · Compound passes it−173#5 → #7
Smallest climb: “What price gets you liquidated, and how far can it drift?” 6 → 8 passes Euler V2, #4.
Strengths
1 from the score dataWhere it leads
Best for readers who weight
- If one market goes bad, how much of yours goes with it? — 9/10, the category best
Tradeoffs
3 from the score dataWhere it trails
Not for readers who put first
- What price gets you liquidated, and how far can it drift? — 6/10 against a category best of 9/10
- Who sets your rate — a utilisation curve or a curator? — 8/10 against a category best of 10/10
- Has it lost lender money before, and did it publish it? — 7/10 against a category best of 9/10
Record watch-outs
- Do not read the docs as the product, and do not read 'independent' as independent. Kamino's documentation is a well-written four-market story sitting on top of a 37-market, 171-vault surface, and on both occasions a docs number could be checked against Kamino's own protocol, the docs lost. The fee page prints 'SOL | SOL/BTC Market | 11%' and 'USDC | SOL/BTC Market | 15%' while Kamino's own API returned protocolTakeRate 0.15 and 0.10 on those reserves on 2026-08-17, and 0.15 and 0 on 2026-09-28 -- eight reserves across six SOL/BTC rows checked on 2026-08-17, every one wrong, in both directions, and this is the number that decides what share of your interest you never receive. Worse, https://kamino.com/docs/risk/safeguards/auto-deleverage still tells you the forced-unwind mechanism 'has not been activated to date' while Kamino's own governance forum dated and sized it twice: the December 2025 monthly report (published 2026-01-09) records 'the activation of ADL on December 18, 2025', '$138k' of debt cleared, 'zero bad debt and a median liquidation bonus of 0.47% of position size'. The mechanism that can march your LTV down on a 72-hour clock at a 50bp floor penalty is live, has been used, and on 2026-09-28 the safeguards page still said otherwise, more than nine months after that activation. Third: the monthly risk report that is Kamino's best disclosure asset closes 'This report represents independent risk analysis by Allez Labs for the Kamino Finance community' -- and Allez Labs curates Kamino's HYPE market and runs five Kamino vaults, two of which that same report reviews. Treat it as informed curator commentary, not as an external audit. Practical consequence: price this venue off the API and the gov forum, not the docs -- https://api.kamino.finance/kamino-market/{market}/reserves/{reserve}/metrics/history gives the actual borrowCurve, LTV, liquidation threshold and take rate per reserve. But note the curve is a shape, not a quote: the live borrow APY cannot be reproduced from the published curve using the docs' own interpolation formula, and the gap on SOL was a stable 22-24% across five sampled dates. And accept the one thing no Kamino surface will give you: which upstream feed prices your reserve, and the spot-vs-TWAP divergence threshold that decides whether a manipulated price closes your position, are per-reserve config fields published for no market -- knowable only by pulling the on-chain config yourself.
Competitive position
Where Kamino Lend leads and where it trails
Rank on every objective dimension among the rows scored on it. A criterion in the top third of its pool is listed as a lead, the bottom third as a trail; the middle is neither. Popularity, size and commercial terms are not dimensions.
Availability#1 / 814.0 of 20 · constant here
Published criteria#5 / 817.8 of 30 · best 20.4
Friction#1 / 82.7 of 10 · constant here
Trust record#1 / 83.2 of 8 · constant here
Measured data#1 / 88.3 of 18 · constant here
Where Kamino Lend leads
- If one market goes bad, how much of yours goes with it?#1 / 8
Where it trails
- Who sets your rate — a utilisation curve or a curator?#6 / 8
Closest alternatives
The 3 nearest rows by score
Nearest by published score in either direction. Each card states the criteria on which the two rows differ and the cost difference under the same scenario inputs; the compare arithmetic below shows why the higher one ranks higher.
Compound#6 of 8 · score 74 · same score
Kamino Lend leads on
- If one market goes bad, how much of yours goes with it?9 vs 7
Compound leads on
- Who sets your rate — a utilisation curve or a curator?9 vs 8
- Has it lost lender money before, and did it publish it?8 vs 7
Largest single reason Kamino Lend is ahead: published criteria (+0.3 display points).Scenario cost: Compound has no verified pricing for this scenario.
Fluid (Instadapp)#7 of 8 · score 73 · 1.0 point behind
Kamino Lend leads on
- If one market goes bad, how much of yours goes with it?9 vs 8
Fluid (Instadapp) leads onNo scored criterion
Largest single reason Kamino Lend is ahead: published criteria (+1.6 display points).Scenario cost: Fluid (Instadapp) has no verified pricing for this scenario.
Euler V2#4 of 8 · score 77 · 3.0 points ahead
Kamino Lend leads onNo scored criterion
Euler V2 leads on
- What price gets you liquidated, and how far can it drift?7 vs 6
- Has it lost lender money before, and did it publish it?8 vs 7
Largest single reason Euler V2 is ahead: published criteria (+3.1 display points).Scenario cost: Euler V2 has no verified pricing for this scenario.
Against the leader
81 vs 74 · gap 7.0Why Venus ranks above Kamino Lend
The compare workspace's arithmetic applied to these two rows. Each dimension's share of the gap is its weight × the difference, on the displayed scale — it reproduces the displayed gap of 7.0 to within rounding.
DimensionThisVenusGap share
Availability · 23% weight · constant here14.014.0same
Published criteria · 35% weight17.820.4−6.8, worse
Friction · 12% weight · constant here2.72.7same
Trust record · 9% weight · constant here3.23.2same
Measured data · 21% weight · constant here8.38.3same
Published criterionThisVenusPoints
What price gets you liquidated, and how far can it drift? · w3269−3.07, worse
Who sets your rate — a utilisation curve or a curator? · w2489−0.77, worse
If one market goes bad, how much of yours goes with it? · w2497+1.54, better
Has it lost lender money before, and did it publish it? · w2079−1.28, worse
Net7481−7.0
Your scenario
Kamino Lend is not priced for this scenario
Interest on what you borrow at the published rate. Variable rates move; excludes origination and liquidation penalties. Change an input and every figure recomputes from the published rate; the published rank does not move.
interest/yr · default scenario — set your own
Amount borrowed · your input$10k
Rate read from the provider’s published pricing ↗ on 28 September 2026.
interest/yrCost is stated as interest/yr in USD; it is never a yield, never annualised, and it does not enter the score.
Not priced on this basis
Under the default inputs · USDCategory median and cheapestNot statedOnly 1 of 8 rows publish a comparable price; a median and a cheapest row need at least 3.
7 of 8 rows in this ranking have no verified rate for this scenario and are absent from the median, not counted as free.
Evidence
Evidence read 28 September 2026
One row per published criterion: the page each strength was read from, its source type by domain, the reading date and whether the file and the published table agree. Open a row for the quote and the receipt.
4 of 4 cells scored
Score evidenceVerified4 of 4 criteria reconstruct from receipts
4 of 4 criteria reconstruct from a quoted, sourced receipt equal to the published strength.Public receiptsReading…4 quoted with a source URL
The receipt file has not been read yet.Evidence confidenceHighcoverage and corroboration, never freshness
4/4 criteria scored, with 4 dated sources quoted.RobustnessOne point from changingrank #5 to #7 across one-point re-runs
Whether the position holds when one criterion score is changed by one point and the ranking is run again. It is always a re-run of the ranking, never an estimate.The newest evidence read on the platform is 3 November 2026; this category's reading is older. The scores stand as read on 28 September 2026.
Reading the evidence ledger…
CriterionSourceTypeReadFreshnessStatusReceipt
What price gets you liquidated, and how far can it drift?strength 6 · weight 32Report an error—28 September 2026*
Unknown
No reading date is recorded for this cell or its category.No receipt
A strength is published but no quote or source page is on file for it.Who sets your rate — a utilisation curve or a curator?strength 8 · weight 24Report an error—28 September 2026*
Unknown
No reading date is recorded for this cell or its category.No receipt
A strength is published but no quote or source page is on file for it.If one market goes bad, how much of yours goes with it?strength 9 · weight 24Report an error—28 September 2026*
Unknown
No reading date is recorded for this cell or its category.No receipt
A strength is published but no quote or source page is on file for it.Has it lost lender money before, and did it publish it?strength 7 · weight 20Report an error—28 September 2026*
Unknown
No reading date is recorded for this cell or its category.No receipt
A strength is published but no quote or source page is on file for it.How you can lose money here, and what the ranking scores
- Control failure (Kamino Lend 8/10): a key or vote changes the rules, freezes or mints.Scored by Who sets your rate — a utilisation curve or a curator? · 24%
- Oracle failure (Kamino Lend 6/10): a wrong price or outcome liquidates or settles a position.Scored by What price gets you liquidated, and how far can it drift? · 32%
- Insolvency failure: the firm or issuer that owes you cannot pay.Scored by If one market goes bad, how much of yours goes with it? · 24% (Kamino Lend 9/10)Scored by Has it lost lender money before, and did it publish it? · 20% (Kamino Lend 7/10)
Not assessed by this ranking: Contract failure, Regulatory failure, Execution failure, Exit failure. A high place says nothing about these; the Methodology tab says what each means.
Facts
facts, not scoresWhat the record publishes
- Pricing
- Kamino charges borrowers no account fees; the cost is interest plus any liquidation penalty, and lenders give up a protocol spread. The Borrow fees page (https://
kamino .com /docs /products /borrow /fees, fetched 28 September 2026): "There are no deposit fees, withdrawal fees, or origination fees on Kamino Borrow." and "The only costs to borrowers are interest on outstanding debt and, if applicable, liquidation penalties on unhealthy positions." The same page prints a protocol-spread table ("SOL SOL/BTC Market 11%", "USDC SOL/BTC Market 15%", "USDT SOL/BTC Market 15%") that the live protocol does not match: Kamino's own API on 28 September 2026 returned protocolTakeRate 0.15 for SOL, 0 for USDC and 0.1 for USDT in the SOL/BTC Market. Treat the table as out of date. Rates float on each reserve's curve, so no fixed APY is quoted.Kamino Lend — official pricing page ↗ · 28 September 2026 - Prices published in
- USDKamino Lend — official pricing page ↗ · 28 September 2026
- Licences held
- Not published
- Compliance level
- partial
- Regulatory note
- Not published
- Supported chains
- Solana
- Markets served
- global
- Primary markets
- Not published
- Restricted markets
- Not published
- Operating limits
- Not published
- Availability note
- Permissionless Solana program with no vendor-published country list and no KYC gate on the lending or vault products; anyone holding a Solana wallet can transact against the klend program directly. No jurisdiction restriction could be READ on a Kamino surface: https://
kamino .com /terms, https:// app .kamino .finance /terms and https:// kamino .com /legal /terms all resolve to the same 6,092-byte client-rendered shell that returns only 'Loading Kamino' to a plain fetch -- identical, byte for byte, to the shell served at https:// kamino .com / itself (all four re-checked 17 August 2026). Any geoblocking or restricted-jurisdiction clause in the terms is therefore recorded as UNREAD, not as absent. One product in the family is explicitly not permissionless in the same way: Kamino Institutional Yield routes through an SPV. https:// kamino .com /docs /products /institutional-yield /structure names the supervisors of the lending operations -- 'Cayman Islands Monetary Authority (CIMA)' for Commodity Yield and 'Financial Market Authority (FMA), Liechtenstein' for Digital Assets Yield -- and a depositor 'Signs Loan Agreement'. The sentence 'The depositor's legal relationship is with the SPV.' is printed on https:// kamino .com /docs /products /institutional-yield /risks, and the same product family states the limit of that supervision plainly -- https:// kamino .com /docs /products /institutional-yield: 'The SPV, the Kamino Institutional Yield vaults, and Kamino are not licensed, registered, or supervised by CIMA, the FMA, or any other financial regulator.' No licence or registration is asserted for Kamino itself. That is a different buyer and a different product from the money market scored here.
Legal entity on file: Kamino, placed in 2 products. Only confirmed entities are shown; nothing is inferred from the brand name.
If something goes wrong with Kamino Lend: where to complain, and where to report a scam
Loading the routes for your country.
How this page is reviewed
Reviewed means this product in this category was read against its sources on or after that date; every ranked category is re-read at least every 45 days. Models research, extract and parse. A deterministic engine ranks. Every quote passes an adversarial refute pass.
Accountable for this review: Mathias Siemonsmeier, Founder.
How we review · Review calendar · Corrections log · How we make money
History
What the record carries
Changes to published ranks are recorded in a ledger; every step and its cause is listed on the rank-history page. The entries below begin with the current verified snapshot, then the methodology versions whose changes applied to this category, newest first.
10 methodology entries
- 28 September 2026Current verified snapshot · methodology 2026.10.18Score 74, #5 of 8. 4 of 4 criteria scored. History starts here; earlier values are not interpolated.
- 11 October 2026
2026.10.9No live feed or market rate moves a score- fixed Lending and borrowing: the borrow rate leaves the fee term, which now scores every protocol alike, so the category ranks on its four published criteria. Venus, first on those criteria, moves from #7 to #1; Spark stays #2; Morpho moves from #1 to #3 and Compound from #8 to #6.
- fixed Exchanges: the fee term reads each exchange's taker fee from the catalog instead of a table dated 1 April. Kraken (0.80 %) moves from #6 to #9 and Gemini (1.20 %) from #10 to #11; Coinbase, Luno, Bitvavo and VALR each move up one place, and Bybit stays #1.
- removed Staking: a yield no longer stands in for a staking provider's missing commission. No published score moves.
- added /methodology/live-data publishes which numbers may move a score; on every build a test fills each live feed with extreme values and fails if a single score moves.
- 10 October 2026
2026.10.8When nothing serves your country, the list shown for reference is the published ranking · platform-wide- fixed The reference list shown when nothing serves your country is the published order with the published scores, and a build check now fails any such list out of that order or with a score the ranking does not publish.
- fixed The explorer prints an overall rank only for a row the published ranking holds; a country entrant such as Coinbase Commerce for US merchants shows no overall rank.
- changed Published orders do not move. Country results change only where nothing serves the country: in India bill pay keeps Bitcoin Well first and now shows Strike second, as published; 35 such runs across all categories and countries now match the published list exactly.
- 10 October 2026
2026.10.6A criterion you require re-scores the rows that meet it · platform-wide- changed The explorer sends each criterion you require, at any band, as fit_required with your other answers; region, licence, chain and fact filters stay filters. On /best, a required criterion joins For you as a marked preference does, which needs your country; Overall stays the published ranking, filtered.
- added Every published criterion has a golden case as the explorer sends it (require:<criterion>), so the order a requirement gives is replayed and gated as the published order is, and a change to it needs an entry here.
Methodology 2026.10.18, the same published run every visitor sees · receipt lending_borrowing:kamino:2026.10.18:57a5bb9ffe4f
Are you Kamino Lend? Reply to this verdict, or send evidence, ask for a correction or claim the listing. Every message gets a public ticket number; none of it changes a rank unless a public page or a signed statement supports it.