Kamino
Kamino reserve incentives: 7.72% APY
A Kamino lending vault does not hold your deposit itself — it spreads the capital across several underlying lending reserves chosen by the vault's curator. Some of those reserves are currently paying their own token incentives to attract lenders, and your share of them flows back to you through the vault. Because the vault rebalances between reserves as conditions change, this rate moves with the vault's allocation as well as with each reserve's own programme.