Kamino (@kamino): Sentora PYUSD Vault on Kamino

Sentora PYUSD Vault on Kamino Sentora's PYUSD vault is one of the clearest signs of growing stablecoin adoption on Kamino and across @solana. With over $420M in deposits and over $1M in interest generated, the vault highlights how curated lending strategies on the protocol are attracting real demand, combining deep liquidity with institutional-grade risk management to bring PYUSD deeper into DeFi. PYUSD's Growth PYUSD is a U.S. dollar-backed stablecoin issued by @PayPal. Since its expansion to Solana, PYUSD has grown rapidly across the ecosystem, with onchain supply increasing over 230% in the past six months alone. Much of that growth has come from expanding PYUSD's role as a productive asset, with the stablecoin increasingly being used in onchain financial markets where users can supply liquidity and earn yield, or borrow against collateral. Kamino has been central to this. With over $420M in deposits, the Sentora PYUSD vault accounts for roughly 50% of all PYUSD supply on Solana, making it one of the single largest venues for the stablecoin on any chain. Kamino: Core Lending Infrastructure on Solana Kamino enables the infrastructure that supports lending and borrowing, curated vault strategies managed by third-party risk managers, and programmable credit markets that allow institutions and users to access onchain liquidity on customizable terms. This product suite creates a flexible foundation for assets like PYUSD. Risk managers can spin up vaults with tailored allocation strategies, depositors earn yield through curated risk profiles, and borrowers access liquidity through Kamino's lending markets. Deep liquidity across the protocol means these markets can scale efficiently as demand grows. Sentora's PYUSD Vault @SentoraHQ serves as the risk manager for the PYUSD vault, responsible for defining the vault's allocation strategy and managing how deposited PYUSD is deployed across Kamino's lending markets. Users deposit PYUSD into the vault and earn yield from borrower interest and protocol incentives. Sentora handles the rest, allocating liquidity into lending markets where borrowers access PYUSD by posting approved collateral. The vault follows a balanced risk profile and is described as a conservative lending strategy designed to deliver superior risk-adjusted yields via allocation into highly liquid markets. Since its deployment in September 2025, the vault has generated approximately $1M in total interest for depositors, with $850K of that coming in the last 90 days alone, reflecting strong and accelerating demand. Here are the current vault metrics: Total Supplied: $421.84M Total Borrowed: $251.87M Utilization: 59.71% Supply APY: 5.14% (8.52% 90-day average) Incentives APY: 4.02% Weekly PYUSD Rewards: 325K PYUSD (~$325K) As PYUSD continues to expand across Solana's DeFi ecosystem, the Sentora vault offers one of the most straightforward ways for holders to put their stablecoins to work in a curated, risk-managed lending environment on Kamino. Kamino's vault infrastructure is open to third-party curators. Risk managers can deploy custom earn vaults, set their own allocation strategies, and earn revenue share through the protocol. Full documentation on vault deployment and SDK integration here: Kamino Documentation.