Solana's Two Leading Lending Protocols Clash, Foundation Steps In to Mediate
Jupiter Lend and Kamino, the two leading lending protocols on Solana, are embroiled in a public dispute over Jupiter’s “risk isolation” claims. The conflict began when Jupiter promoted its lending product as having isolated risk between pools, but critics—led by Kamino—argue Jupiter’s design actually allows cross-contamination through rehypothecation (reusing collateral across pools).
Kamino’s co-founder publicly accused Jupiter of misleading users, prompting community backlash. Jupiter later deleted earlier promotional content and acknowledged the description was inaccurate. The debate centers on differing interpretations of “risk isolation,” with Jupiter defending its model as a balance between safety and capital efficiency.
Multicoin Capital, a Kamino investor, escalated the situation by accusing Jupiter of incompetence or intentional deception. In response, the Solana Foundation urged both sides to collaborate rather than compete internally, highlighting the larger opportunity in expanding the DeFi lending market overall.
The clash reflects growing tension as Jupiter Lend rapidly gains market share in a shrinking TVL environment, turning former allies into rivals in Solana’s competitive lending landscape.
Odaily星球日报12/08 05:09
