Based on our commitment to continuing to grow and expand our offerings and services, we are introducing a new digital currency project, Kamino. Kamino is a tool that integrates liquidity, lending and borrowing, making participants earn yields on-chain.
This article details Kamino, its native token ($KMNO), operationality, tokenomics, and pertinence in the decentralized ecosystem. The decentralized asset has managed to capture a number of crypto enthusiasts.
What is Kamino?
Amidst the crypto bull season, several versatile digital currencies have emerged to promote the development of blockchain technology. Kamino is another digital asset that emerged to create liquidity and an easier way of earning yield on-chain. The project is dubbed the first Solana decentralized protocol that integrates lending, leverage, and liquidity into a single DeFi suite.
The protocol enables participants to borrow and lend to gain yields and stand a chance of borrowing against the collateral. Moreover, users embedded within the ecosystem can develop significant strategies and create leverage for liquidity in highly concentrated decentralized exchanges.
Kamino is a distributed ledger project pegged to Solana's network. This indicates that the transaction speed increases as the network can conduct more than 10,000 TP (transactions per second). Solana's proof-of-history consensus mechanism is also versatile and helps develop the new lending and borrowing platform.
Kamino has two pertinent primitives called Kamino lend and automated liquidity vaults. The automated liquidity vaults are regarded as the platform's premier products that facilitate the issuance of the tokens. These tokens (kTokens) are considered yield-bearing as they are allowed in the Kamino lend project.
The Kamino lends a primitive foundation for peer-to-peer borrowing to power complex financial products within the community with automation and leverage. It also functions as a matchmaker between lenders and borrowers. Through the unification program, Kamino Lend enables community members to gain the most market views and partake in all market cycles.
Additionally, the project offers products such as Multiply Vaults and Long/Short Vaults. Multiply Vaults is a one-click product that helps users secure leverage positions to increase their exposure to yield-gaining assets. This vault unifies K-lend mechanisms such as kToken and K-Lend, offering more significant yielding opportunities. On the other hand, the long/short vault is similar to perpetual future trading on different exchanges.
What is $KMNO?
$KMNO is the native token of the Kamino ecosystem. $KMNO acts as fuel for the community as it is used to conduct transactions within the platform. It also acts as a governance token as participants can become a decentralized autonomous organization (DAO). DAOs are members who participate in the project and can partake in platform changes. Moreover, users participating in the project's development are rewarded using the KMNO token.
According to the platform, the $KMNO airdrop is set to be released in phases over the coming months. The project members aim to release $KMNO during the 1st and 2nd quarter of 2024. Kamino plans to offer services such as voting on decentralized risk management protocol operations and controlling the KMNO programs for protocol users. The token also takes charge of revenue allocation.
According to the data on CoinEx, $KMNO has a total market capitalization of 326.59 million, a circulating supply of 32.65 million, and a total circulation of 1 billion tokens. Moreover, $KMNO is currently trading at 0.03266 USD at the time of writing.
Understanding KTokens and How It Works?
kTokens are referred to as the receipt tokens within the ecosystem. These tokens act as a symbol of value deposit within Kamino vaults. Every vault has its distinct kToken. Participants will accumulate their kTokens in their wallets when depositing them into the vault. These tokens (kTokens) showcase the values of auto-compounding inside the vaults. Therefore, this secures the project as Solana's first yield-bearing asset.
How to Buy and Trade $KMNO on CoinEx?
CoinEx is a universal digital currency exchange featuring over 1,200 tokens and more than 1,700 trade pairs. The digital exchange has a user-friendly platform that a newbie in the crypto airspace can easily navigate.
Below are the steps for purchasing $KMNO on CoinEx:
- Create an Account: Begin by signing up for a CoinEx account.
- Deposit Funds: Once you log in, deposit funds into your CoinEx account via any supported cryptocurrencies or deposit methods available on the exchange. With funds in your account, you can execute trades seamlessly.
- Navigate to the $KMNO Trading Page: After funding your account, navigate to the dedicated $KMNO trading page on CoinEx. A search box will help you locate $KMNO trading pairs on the spot trading page. Enter the term "KMNO" to find the associated trading pairs.
- Select a Trading Pair: Choose the trading pair KMNO/USDT to trade $KMNO against USDT (Tether).
- Specify the Purchase Amount: The next step is to specify the number of $KMNO you want to buy. You can buy them at the current market price or set a limit for your preferred buying price on the trading page.
- Execute the Trade: Once you have specified the amount, proceed to execute the trade. Confirm the details, and if they are satisfactory, submit the order.
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