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      Jupiter Lend Surpasses Kamino as Solana's Leading Lending Protocol

      Jupiter Lend has officially overtaken Kamino Lend to become the largest lending protocol on the Solana blockchain, as of October 6, 2026. This shift follows a significant 28.1% increase in deposits, primarily driven by stablecoin investments, bringing Jupiter's total deposits to approximately $2.6 billion and loans to $1.08 billion. The rapid growth is notable for a platform that was publicly launched just over a year ago in August 2025.

      Data from DefiLlama indicates that Jupiter's total value locked (TVL) stands at around $1.411 billion, while Kamino's TVL is slightly lower at $1.403 billion. Despite Jupiter's lead in TVL, Kamino continues to generate higher revenue, earning approximately $4.82 million in fees over the past month compared to Jupiter's $3.77 million. This indicates that while Jupiter has attracted more deposits, Kamino's operations are currently more profitable per dollar of TVL.

      Jupiter's ascent can be attributed to its integration within the Jupiter Exchange, a major trading hub on Solana, allowing users to trade and lend seamlessly on a single platform. The recent Lend v2 upgrade introduced features that enhance user experience by enabling simultaneous earning of lending yields and decentralized exchange (DEX) swap fees. Meanwhile, Kamino, which once had a TVL exceeding $2 billion, has struggled to regain that level amidst ongoing competition and public disputes over design choices with Jupiter.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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