Kamino has launched a new market on Solana: eligible users can deposit tokenized stocks as collateral and borrow USDC directly.
The first batch includes just four assets: Micron, SK hynix, SpaceX, and SanDisk. In Backpack’s compliant structure, each asset is backed 1:1 by securities or interests in securities. The market is isolated, so a problem in one pool won’t directly spread to others. Allez Labs handles the lending terms and risk management.
I think this is a real step forward for tokenized stocks: before, they were just an on-chain certificate you held. Now they can actually be used as collateral to access liquidity. But tracking prices while stock markets are closed remains one of the biggest challenges.
If you held tokenized SpaceX, would you use it as collateral to borrow USDC for liquidity, or sell it outright for cash?
Follow me. Once this market has made it through its first stock-market closure, I’ll check whether collateral levels and liquidation performance look unusual.
$SOL $USDC
The first batch includes just four assets: Micron, SK hynix, SpaceX, and SanDisk. In Backpack’s compliant structure, each asset is backed 1:1 by securities or interests in securities. The market is isolated, so a problem in one pool won’t directly spread to others. Allez Labs handles the lending terms and risk management.
I think this is a real step forward for tokenized stocks: before, they were just an on-chain certificate you held. Now they can actually be used as collateral to access liquidity. But tracking prices while stock markets are closed remains one of the biggest challenges.
If you held tokenized SpaceX, would you use it as collateral to borrow USDC for liquidity, or sell it outright for cash?
Follow me. Once this market has made it through its first stock-market closure, I’ll check whether collateral levels and liquidation performance look unusual.
$SOL $USDC
