Kamino Finance pivots to institutional on-chain credit market

Kamino Finance has appointed former Yieldstreet co-founder Michael Weisz as CEO and established a new headquarters in New York. The protocol is transitioning from a Solana-based DeFi lending platform to an institutional-focused on-chain credit market. While its PRIME market has attracted over $600 million in deposits in 107 days, the protocol's net revenue has declined significantly alongside Solana ecosystem activity. KMNO currently lacks a direct fee-sharing mechanism for token holders, making its potential as an independent RWA asset dependent on future tokenomics reforms and revenue growth from its RWA business.