PRESS RELEASE. August 30, 2022 – Hubble Protocol, home of the USDH stablecoin, has launched Kamino Finance: the first concentrated liquidity market maker (CLMM) optimizer of its kind on the Solana blockchain.
Kamino Finance will launch on Orca's next-generation decentralized exchange. Users can earn higher yields by simply depositing crypto into vaults that are linked to Orca’s liquidity "whirlpools".
Kamino Finance capitalizes on the benefits of CLMM's which reduce slippage, facilitate larger trades and narrow the price range at the users can provide liquidity.
Kamino automatically adjusts positions to ensure they are in the best range to capture the highest fees and provide deep liquidity. This eliminates common problems for CLMM liquidity providers (LPs). Kamino also automatically adds CLMM fees to users' LP positions. This increases yields as the position sizes increase.
Marius Ciubotariu is the co-founder and CEO of Hubble Protocol. He says that managing profitable LP positions was notoriously difficult because of the complexities posed CLMMs, the increased risk for impermanent losses when prices swing the wrong direction, as well front-running bots – both of which are common on Ethereum.
Kamino can provide LPs with higher yields, maximum capital efficiency and lightning-fast throughput thanks to the Solana Blockchain. This fully realizes CLMMs' potential. We hope that Kamino will help DeFi to embark on a new period of explosive growth in the Solana DeFi ecosystem.
Kamino will instead of providing LPs with the CLMM NFT, he will provide them with a fungible token LP token as a receipt for deposit. This LP token can serve as collateral for Hubble's censorship resistant stablecoin USDH. It can then be used to transact in Solana deFi or to earn additional yield.
Hubble will construct the first Kamino vaults above Orca's concentrated liquidity swirlpools. Vaults for stable-asset and fixed-asset pairs will be available at launch. Future vaults will add additional vaults.
Milan Patel is Head of Business Development at Orca. He says that by building on Whirlpools Hubble has made it easy for liquidity providers to gain the benefits of concentrated liquidity, without constant rebalancing. Hubble's Kamino project shows how Orca's concentrated liquidity can be easily harnessed and used by all protocols.
About Hubble Protocol
Hubble Protocol allows the Solana DeFi Community to borrow USDH, which is a crypto-backed stablecoin and censorship-resistant. Users can create USDH by depositing a variety of bluechip crypto tokens, such as SOL and BTC, ETH and liquid staking tokens, like mSOL and stSOL. Additionally, they can acquire a growing list of assets.
USDH can be used across multiple protocols in the Solana DeFi ecosystem for transacting and earning yield. The Hubble team is currently working on a roadmap to improve the USDH borrowing platform and launch new products and services like Kamino that will bring long-term and real value to DeFi.
About Kamino Finance
Kamino Finance, an automated market-making system that uses concentrated liquidity and DEXs, is built on Kamino Finance. This protocol maximizes CLMM liquidity through the use of Solana's superior speed and cost to rebalance positions, as well as auto-compound fees and rewards for users.
Kamino is an automated product that uses quantitative analysis and modeling to guide users to market opportunities. It requires very little or no expertise to use. Kamino allows LPs to "set it and forget it" and maximize their earned fees while minimizing IL.
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By: Bitcoin.com
Title: Hubble Protocol Launches Kamino Finance to Optimize Yields for Liquidity Providers on Solana
Sourced From: news.bitcoin.com/hubble-protocol-launches-kamino-finance-to-optimize-yields-for-liquidity-providers-on-solana/
Published Date: Tue, 30 Aug 2022 17:00:58 +0000
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