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

April 2026 Recap: What Kamino Shipped and Scaled. April was an interesting month for DeFi, but credit infrastructure continued to scale on Solana. $1.15B+ in deposits across 6 RWA markets, Whitelisted Reserves launched at the vault layer, and tokenized equities composability scaled with two-sided markets, and more shipped across the protocol. Here's the full recap ⬇️ RWAs Market Growth Continued April brought a full breakdown of the RWA business on Kamino: $1.15B+ in deposits across six dedicated markets — private credit, tokenized equities, reinsurance, and more, all running on Solana. The asset base behind onchain private credit on Kamino continued to expand, with the growth of HELOCs onchain and the expansion of tokenied auto loans coming soon to Solana. The yield case for RWAs got sharper, too. Stablecoin yields on the OnRe Market are outperforming both DeFi benchmarks and 3 month U.S. Treasuries. To strengthen growth and liquidity in the OnRe Market, monthly incentives were increased to $25,000: $18,750 in supply rewards and $6,250 in borrow rewards. The RockawayX RWA USDC Vault crossed $34M in deposits in ~2 months. Tokenized Equities Become a Two-Sided Market The xStocks Market crossed $25M in total market size in early April. Then the other side of the trade went live. USDC was added as collateral in the xStocks Market, enabling users to deposit USDC, borrow tokenized equities, and take directional positions against the underlying assets. Lenders supplying USDC earn yield from equity borrowers. Lenders supplying xStocks earn yield from USDC borrowers. A complete two-sided credit market for tokenized public equities, running 24/7. Whitelisted Reserves: Hardening the Vault Layer In April, Kamino introduced Whitelisted Reserves, an onchain allocation control enforced at the smart contract level, restricting vault funds to Kamino-whitelisted markets only. Solstice Market Continues to Scale The Solstice Market saw multiple updates through April. USDG went live as a supply, borrow, and multiply asset for eUSX, with $5K in weekly rewards for supply + borrow. Season 2 Flares went live later in the month, opening new yield routes: supply eUSX, USX, or USDG to earn Flares, or borrow against Exponent PT collateral (PT-USX and PT-eUSX maturing June 2026, plus eUSX). Data and Distribution Kamino went live on Blockworks Research, with 100+ charts covering lending markets, rates, RWAs, and vaults on Solana, making the protocol's underlying data accessible to analysts, allocators, and researchers. Check out the full @blockworksres dashboard here: https://blockworks.com/analytics/kamino/kamino-lending-markets Sunrise Listings on Kamino Swap Kamino Swap continued to expand as a launch venue for new tokens via @Sunrise_DeFi. In the last two weeks alone, $MEGA, $CHZ, $AAVE, $CHIP, and $BLEND all went live and verified on Kamino Swap. Looking Ahead April deepened Kamino's credit infrastructure across every layer: markets, vaults, assets, and tooling. That foundation sets up what's next: new products shipping, new markets opening, and new asset classes coming onchain.