THE LIQUIDITY LAYER OF SOLANA - KAMINO

Summary from the TLDR Crypto newsletter

Kamino offers automated liquidity vaults, leveraged exposure, borrowing and lending, and long/short trading. With $1.7B in TVL and over 30% of the Solana TVL market share, Kamino has shown strong growth and staying power, further evidenced by its partnership with PayPal. While currently trading at multiples similar to mature lending protocols, Kamino's rapid growth and ambitious roadmap suggest significant upside potential, though risks such as smart contract vulnerabilities, competitors, and regulatory issues remain.