Kamino is a decentralized finance (DeFi) protocol built on the Solana blockchain, and KMNO is its native token. It was first created to give users the easiest possible way to provide liquidity and earn yield on-chain.
Its one-click, auto-compounding concentrated liquidity strategies became some of the most popular LP products on Solana. That early success laid the foundation for the broader protocol Kamino is today.
Today Kamino combines lending, liquidity, and leverage into a single DeFi product suite. Users can supply assets to earn interest, borrow against collateral, or use leveraged strategies.
Its liquidity vaults automatically rebalance concentrated liquidity ranges and reinvest fees. Because lending and liquidity are linked, features such as using LP positions as collateral can be combined within one platform.
Data provided by CoinGecko
KMNO launched in April 2024 with a fixed total supply of 10 billion tokens. Tokens are released gradually under a set vesting schedule, and as of late 2026 more than half of the total supply is reported to be in circulation.
KMNO is used for protocol governance and connects to ecosystem reward programs through staking. Kamino integrates with many Solana DEXs, oracles, and liquid staking tokens, serving as a core piece of liquidity infrastructure in the ecosystem.
Commonly cited strengths include its integrated lending and liquidity tools, ease of use through automated strategies, and Solana's fast, low-cost transactions. It also has a long operating history as one of Solana's major DeFi protocols.
At the same time, users face risks such as smart contract bugs, oracle failures, liquidations during sharp market moves, and impermanent loss in concentrated liquidity. Scheduled token unlocks can change circulating supply, so understanding the mechanics and risks before use is important.
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