The Backpack Market supports cross-collateral borrowing, so several stocks can back one USDC loan. - @AllezLabs, the market’s curator, gives each stock its own borrowing limit - Your loan’s limit is the total across your stocks, so a price rise in any one of them adds to how much you can borrow. - If the loan reaches its liquidation point, the stock with the lowest liquidation LTV is sold first This means you can borrow against your @backpackonchain stocks together, in one loan with one borrowing limit

A PT (principal token) from @ExponentFinance, like @onrefinance's PT-ONyc, redeems for $1 of ONyc on its maturity date. Before maturity, a PT's market price moves with demand for fixed yield Kamino values PT collateral from a set yearly discount that shrinks in a straight line to $1 at maturity, and is not valued by the market price Market swings leave your borrowing limit unchanged, so you know exactly how your collateral value and LTV will move until maturity

Following continued monitoring of the ongoing Binance situation, borrowing has resumed in the SOL/BTC Market. While borrows were paused, the team monitored onchain activity to assess any risk to the market or users. We found no immediate risk, and Kamino remained unaffected throughout. Deposits, withdrawals and repayments continued to process normally.

All markets will be onchain. First slowly, then it will feel like it’s happening all at once. The efficiency, costs of capital, distribution and growth, and net new opportunities to deploy risk capital w liquidity are pulling all types of use cases on chain. @kamino @solana are ushering in a wave of new assets and liquidity onchain.

Binance's initial investigation suggests that the security incident may involve a compromised DevOps engineer’s laptop, which allowed an attacker to gain access to a service container and submit unauthorized withdrawal transactions. We have found no evidence of any wallet private key leak. We will share a detailed technical post-mortem once the investigation is complete and the facts are fully verified. The estimated total impact sits at around $6.3B. We have worked with blockchain partners to freeze affected assets, with ~$3 billion frozen on-chain so far. Binance will cover all losses from the SAFU fund and the company’s funds. User funds are safe. We will also publish an updated Proof of Reserves once the remediation is complete. As an immediate precaution, Binance has: - temporarily suspended deposits and withdrawals while security checks are completed; - revoked the affected address authorisation; - engaged law enforcement and blockchain intelligence partners to trace and recover funds. Our teams are working around the clock to resolve this issue safely and thoroughly. We are working closely with our law enforcement partners to confirm the identity of these criminals and bring them to justice. Please rely only on official Binance channels for updates. Please feel free to contact Binance Customer Support if you have any further questions.

Kamino has been in a war room since the first rumours of the Binance hack, before anything was confirmed. We checked our major collateral assets with their issuers and our partners. So far, we see no exposure to the hack and no backing issues. We blocked the attacker’s SOL wallet from using Kamino's infrastructure within 5 minutes of identifying it. As a precaution, we have also paused on chain borrowing on the SOL/BTC market. We expect to resume shortly.

Kamino can confirm that it is currently unaffected by the ongoing Binance situation Out of an abundance of caution, we have temporarily paused borrowing in the SOL/BTC Market We are actively monitoring the situation and are in communication with various partners. Any further updates will be communicated solely here on Kamino’s official Twitter account

When a Backpack stock pays a dividend, your balance increases automatically @BackpackOnchain reinvests each dividend into more of the stock by raising a multiplier on the token - The multiplier is built into Token-2022, so supporting wallets show your balance times it - Kamino Swap and Lend both read it, and every reinvested share counts as collateral in the new Backpack Market curated by @AllezLabs This means you can borrow USDC against a Backpack stock and keep receiving its dividends, automatically as extra shares in your collateral balance without having to manually reinvest.

Sunrise brought Backpack’s stocks to @Solana, now they're collateral on Kamino Swap into SpaceX, Micron, SK Hynix or SanDisk, borrow USDC against them in the Backpack Market, curated by @AllezLabs Onchain via @sunrise, issued by @BackpackOnchain 24/7 stock trading Zero fees

I wanna meet @AllezLabs LPs! Who’s coming to London for Breakpoint next month? I got my @Backpack on, lots of liquidity available to borrow against your stocks on the @kamino Market.

bullish on tokenized equities! if you're supplying USDC into @kamino's new @Backpack market, the risk to watch is the stock moving while the oracle is asleep. You can now borrow USDC against tokenized MU, SKHY, SPCX and SNDK, at 30-40% of collateral value. Over weekends the price holds at the last close while the market stays open 24/7. So the liquidator inherits the whole reopen gap G plus slippage s in one print, and the LT is only solvent if LT × (1 + bonus) × (1 + i) ≤ 1 − G − s At LT 60 that's ~8pp of margin, and a 40% LTV can take a ~33% drop before liquidation. My guess is the first parameter change here comes around an earnings print, not a weekend.

85.7% of tokenized stock market cap follows the stablecoin model A U.S. asset held in custody, distributed globally on public blockchains, with clear economic benefits for multiple stakeholders At $4.63B, it matches stablecoins in early 2020, before their market cap grew 64x

Why does Kamino isolate its lending markets? In a shared lending pool, one new listing changes the risk for every lender in the pool, because an issue with any single collateral asset can reach everyone's deposit. On Kamino, each market is isolated, with its own collateral set, borrowing limits, price feeds and curator. Today's new Backpack Market puts that into practice: @BackpackOnchain stock tokens list against USDC with borrowing limits of up to 40% set and monitored by @AllezLabs New assets get rules built for how they behave, and as a lender on Kamino you only back the collateral in the market you choose

Some of the most popular stocks are now available as collateral on @Kamino via @Backpack Securities. The RWA story of the year has been equities coming on chain and benefiting from the composability of DeFi - keep watching the space 👀