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The largest 400 by capital, of 3,677 open across every venue we read, agent-managed or not. The rest are on a plan, or in the API.Note 17
Concentration
A share of vaults_valued, open vaults we can put a size on, less the few we read as holding nothing, which have no share of capital to take. That is fewer than the open count in the header, and the difference is vaults whose underlying we cannot price rather than vaults that are not there.
Concentration, deeper
The same money as the ring above, cut at twenty-five instead of six. Shaded by rank, light to dark, because these are sizes rather than identities.
These sit far down a list ordered by capital, because the levered books are the small ones. Sort the To liq. column to bring them to the top, or read them ranked on distance to liquidation. A vault showing a dash is unmeasured, not safe: the venue reported no liquidation price on any position we can see.
| # | Earning from | ||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Kamino pyUSD–USDCHmj82e48X9…UiGm | Kamino | Solana | — | — | unknown | no model declared | — | $16.69M | <0.1%never at scale | 0.0% | 0.94 | 0.2% | — | — | — | 40d | no quote0.03% in 30d | consistent93 | — | — | — | — | 11% | D |
| 2 | Kamino USDG–USDCByPbo7yGcs…mBdu | Kamino | Solana | — | — | unknown | no model declared | — | $10.51M | <0.1%never at scale | 0.0% | 0.87 | 0.1% | — | — | — | 40d | no quote0.00% in 30d | consistent93 | — | — | — | — | 11% | D |
| 3 | Kamino SyrupUSDC–USDCC7HgBuY7AG…j5zv | Kamino | Solana | — | — | unknown | no model declared | — | $10.06M | 0.2%never at scale | 0.0% | 15.56 | 0.1% | — | — | — | 40d | no quote0.13% in 30d | consistent93 | — | — | — | — | 11% | D |
| 4 | Kamino SOL–JITOSOL solana · CyggXdHCntzqDU5w…ggXd | Kamino | Solana | — | — | unknown | no model declared | — | $6.17M | 10.2%never at scale | 9.4% | 2.22 | 62% | — | — | — | 40d | no quote12.02% in 30d | consistent93 | — | — | — | — | 11% | D |
| 5 | Kamino USDu–USDCDzGJLoq3Fn…w5FG | Kamino | Solana | — | — | unknown | no model declared | — | $3.77M | <0.1%never at scale | 0.1% | 0.21 | 0.2% | — | — | — | 40d | no quote0.01% in 30d | consistent93 | — | — | — | — | 11% | D |
| 6 | Kamino hyUSD–USDCFB6QYfn5Xt…yNLb | Kamino | Solana | — | — | unknown | no model declared | — | $2.71M | 0.2%never at scale | 1.0% | 1.26 | 1.3% | — | — | — | 40d | no quote0.15% in 30d | consistent93 | — | — | — | — | 11% | D |
| 7 | Kamino MPLX–SOL8VqeQzBtVo…QVrW | Kamino | Solana | — | — | unknown | no model declared | — | $2.52M | 34.6%never at scale | 10.6% | 5.86 | 92% | — | — | — | 40d | implausible34.89% in 30d | consistent93 | — | — | — | — | 11% | D |
| 8 | Kamino USDG–ONyc2cV6oNLjDq…fE8b | Kamino | Solana | — | — | unknown | no model declared | — | $2.04M | 0.2%never at scale | 0.0% | 7.18 | 0.2% | — | — | — | 40d | no quote0.15% in 30d | consistent93 | — | — | — | — | 11% | D |
| 9 | Kamino USDG–USX45bdcbekD6…hWt2 | Kamino | Solana | — | — | unknown | no model declared | — | $1.99M | >-0.1%never at scale | 0.0% | -0.23 | 0.1% | — | — | — | 40d | no quote-0.01% in 30d | consistent93 | — | — | — | — | 11% | D |
| 10 | Kamino KMNO–USDC2C5FyRDjmy…3p49 | Kamino | Solana | — | — | unknown | no model declared | — | $1.84M | 27.1%never at scale | 14.9% | 6.29 | 64% | — | — | — | 40d | implausible30.63% in 30d | consistent93 | — | — | — | — | 11% | D |
| 11 | Kamino SOL–JITOSOL solana · NvRxr65QgwaBQzzM…Rxr6 | Kamino | Solana | — | — | unknown | no model declared | — | $1.52M | 10.2%never at scale | 9.4% | 2.23 | 62% | — | — | — | 40d | no quote12.08% in 30d | consistent93 | — | — | — | — | 11% | D |
| 12 | Kamino JITOSOL–SOL4Zuhh9SD6i…6oSD | Kamino | Solana | — | — | unknown | no model declared | — | $1.30M | 10.2%never at scale | 9.4% | 2.22 | 62% | — | — | — | 40d | no quote12.04% in 30d | consistent93 | — | — | — | — | 11% | D |
| 13 | Kamino USDG–xBTC79aWx9BoMB…CFkv | Kamino | Solana | — | — | unknown | no model declared | — | $1.23M | 4.7%never at scale | 5.0% | 2.35 | 26% | — | — | — | 40d | no quote3.54% in 30d | consistent93 | — | — | — | — | 11% | D |