Kamino's move to block users from refinancing through Jupiter Lend sparks controversy

2025-12-04 01:56:35

According to ChainCatcher, citing The Defiant, Solana lending protocol Kamino has faced criticism for blocking users from transferring loans via Jupiter Lend’s refinancing tool. Kamino manually blacklisted the on-chain address of Jupiter Lend’s newly launched Refinance tool, preventing users from closing positions through that address.

Kash Dhanda, a core contributor at Jupiter, expressed dissatisfaction about this on X. Samyak Jain, co-founder of DeFi liquidity protocol Fluid, pointed out that Kamino directly added a verification mechanism to lock users, preventing them from moving to platforms with higher yields.

According to DefiLlama data, the total value locked in the Solana lending market is about $3.7 billion, with Kamino accounting for over 60% of the market share. However, its TVL has dropped from $3.71 billion in early October to $2.33 billion currently, a nearly 30% decline in two months. As of press time, neither party has publicly responded to the issue.

KMNO3.79%

JUP3.52%

FLUID3.24%

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