We are excited to announce that OneKey has officially and natively integrated the Kamino Main Market in App v5.20 to provide users with a deeper and more seamless experience within the Solana ecosystem.
About Kamino Finance Kamino is a leading DeFi protocol on Solana that pioneered the integration of Lending, Liquidity management, and leverage strategies. As one of the fastest-growing lending markets in the Solana ecosystem, Kamino is renowned for its automated liquidity strategies and superior user experience, designed to help users maximize capital efficiency and generate sustainable on-chain yields.
With this update, you can directly access Kamino’s core market features—safely lending and managing assets—without ever leaving your OneKey Wallet. Below is the detailed operation guide:
Open the OneKey App and tap "More" > "DeFi" on the home screen.
Tap "Borrow" to enter the Kamino Main Market page. Here, you can view supported assets along with their supply and borrow APY details.
Select the asset and amount you wish to supply (please note that you must supply assets as collateral before you can borrow) and sign the transaction to confirm.
Once completed, you will see your supplied "Net Worth" and "Net APY." You can now select the asset you wish to borrow in the "Borrow" section and tap "Borrow."
After tapping "Borrow," you will see the borrowable amount calculated based on your collateral and "Health Factor." Confirm the details and sign the transaction.
Once the transaction is successful, you can view your current "Health Factor" to monitor liquidation risk. You can tap "Repay" at any time to return the borrowed funds.
After repayment, you can choose to keep your assets supplied to earn interest, or tap "Withdraw" to retrieve your assets from the pool back to your wallet.
Frequently Asked Questions (FAQ)
Q1: What is the Health Factor, and how can I better manage risk?
A: The Health Factor is the core metric for measuring the safety status of your loan account.
Definition: It reflects the safety of your collateral value relative to your borrowed amount.
When Health Factor > 1: Your assets are safe.
When Health Factor < 1: Your collateral value is no longer sufficient to support the loan, and the liquidation process will be triggered automatically. Part or all of your collateral will be forcibly sold to repay the debt, and additional liquidation penalties may apply.
How can I better manage risk? When using Kamino for lending on OneKey, we recommend the following strategies:
Keep a "Safe Distance": It is recommended to maintain a Health Factor above 1.5 or 2.0. Since the crypto market is highly volatile, a sudden price drop (“flash crash”) could result in liquidation before you have time to replenish your collateral.
Watch High-Volatility Assets: If your collateral consists of tokens with high price volatility, please reserve a higher buffer for your Health Factor.
Adjust Promptly: In the event of a market downturn, increase your Health Factor by repaying part of the debt or supplying more collateral.
Q2: What are Platform Rewards, and how can I participate?
A: Platform Rewards are an exclusive incentive campaign jointly launched by OneKey and Kamino.
In addition to the standard yields from the Kamino protocol, users participating in this campaign have the opportunity to earn extra rewards.
How to participate? The criteria are very clear. You must meet the following three conditions simultaneously:
Specified Access: You must use the OneKey Client (updating to v5.20 is recommended) to perform the operations.
Specified Market: Enter the Kamino Main Market section.
Specified Action: Complete a USDC Borrow operation.
Only USDC borrows completed through the OneKey Wallet frontend will be counted toward the reward statistics for this joint campaign.
View campaign details and rules: Click here to view the full announcement (help.onekey.so)
Q3: There are several types of APY displayed. What are the differences?
In the Kamino market, yields consist of two parts: Base Interest and Extra Rewards. To help you understand your actual return, we categorize APY as follows:
Supply Side
Native Supply APY:
This is the yield generated by the interest paid by borrowers.
Example: You supply SOL, and a borrower borrows SOL and pays interest. This is the source of the Native Supply APY. This yield usually accumulates automatically in the same token you supplied (e.g., SOL).
Net Supply APY (Total APY):
This is your final projected total yield.
Formula:
{Net Supply APY} = {Native Supply APY} + {Reward APY}
Explanation: The Kamino protocol often distributes extra rewards (such as KMNO tokens or points) to suppliers. The Net Supply APY converts these extra rewards into a percentage and adds them in, representing the comprehensive return you can receive.
Borrow Side
Native Borrow APY:
This is the interest rate you must pay to suppliers.
Explanation: This is the direct cost of borrowing money. Excluding any rewards, this is the percentage of interest you need to pay annually.
Potential Net Borrow APY:
This is the actual borrowing cost you bear after deducting rewards (it may even result in a positive yield).
Formula:
{Potential Net Borrow APY} = {Native Borrow APY (Cost)} - {Reward APY (Income)}
Explanation: To encourage borrowing, the protocol sometimes distributes significant rewards to borrowers. If the value of the rewards is high, it may offset the interest you need to pay, thereby lowering the cost of borrowing.
Note: It is called "Potential" because the price of reward tokens fluctuates, so the final actual cost may vary with the market.