Kamino (@kamino): Q1 2026 Recap: What Kamino Shipped and Scaled.

Q1 2026 Recap: What Kamino Shipped and Scaled. Kamino closed Q1 with $2.93B in supply, $1.15B in borrows, and the largest RWA lending market in DeFi. RWA deposits more than doubled to $626M, growing ~107% QoQ. New user wallets grew ~41% QoQ. Price-adjusted supply and borrows both expanded. Q1 consisted of shipping more markets, asset types, and institutional integrations. Here's the full recap ⬇️ RWAs Scaled on Kamino If there was one defining theme of Q1, it was RWAs — as the fastest-growing, highest-conviction segment of the protocol. By March, PRIME (by @Figure + @HastraFi) had reached $570M — making it the single largest RWA market in all of DeFi. $250M borrowed. 3,653 active loans. The @maplefinance Market set consecutive all-time highs, growing from $240M to $450M across the quarter. @onrefinance — bringing reinsurance premiums onchain — crossed $100M. And in February, total RWA market size across Kamino crossed $1 billion on @solana. Total RWA Markets size on Kamino more than doubled, growing ~112% from $580M to over $1.2B across Q1. New Markets, New Asset Classes Q1 wasn't just about scaling existing markets. The product and asset offerings expanded meaningfully. USD1 (by @worldlibertyfi) went live on Kamino — a fully-backed, dollar-denominated stablecoin redeemable 1:1 for USD. The @SuperstateInc Market added USCC and CASH, bringing tokenized fund shares into Kamino as productive collateral for qualified investors. Then Galaxy ($GLXY) — a NASDAQ-listed public equity — launched in the Superstate Market. The first time a registered public equity has functioned as onchain collateral on Solana. Borrow USDC against GLXY while maintaining full equity exposure, 24/7. The @xStocksFi Market brought tokenized equities (QQQx, SPYx) into the lending stack with Multiply support up to 3.7× leverage, followed by xPoints for all xStock deposits on Kamino. fBTC integrated into the Main Market — the first BTC yield product on Solana through Bybit's On-Chain Earn, powered by Kamino's credit infrastructure. And new yield strategies shipped: Stable Loops enabled one-click stablecoin looping across Kamino's markets, and the RWA Vault launched with @Rockaway_X curating USDC deployment across PRIME, Huma, OnRe, and Solstice. Institutional and Vault Infrastructure Kamino, @Anchorage, and Solana Company announced a partnership to bring institutional collateral management to Solana. Marinade launched a USDC Vault built with Kamino's BuildKit, embedding lending yield natively in its app with strategies managed by RockawayX. @privy_io integrated DeFi vault access directly into its wallet infrastructure, powered by Kamino — routing deposits from trading platforms and fintech apps into lending strategies through Kamino vaults on Solana. @OneKeyHQ integrated Kamino's lending markets into its app through the BuildKit, enabling users to borrow directly from Kamino while maintaining full self-custody. Looking Ahead Onchain markets continue to expand as more assets flow through Kamino's credit markets — RWAs, tokenized equities, reinsurance premiums, institutional fund shares — with more on the horizon. The protocol grew by expanding what’s possible to lend, borrow, and collateralize. Q2 carries that forward — Fixed Rates, Order Limits, new assets, new markets, and new product integrations brought to Solana DeFi.