KaminoRWA Loop17.93%
—
10.05%
$107.6M
$132K
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Strategy overview
This Kamino Multiply strategy uses syrupUSDC as collateral to borrow USDC, then converts the borrowed USDC into more syrupUSDC. The loop can amplify syrupUSDC yield, but it also increases liquidation risk.
- How it works:
- Your syrupUSDC is supplied as collateral, USDC is borrowed against it, and the borrowed USDC is swapped back into more syrupUSDC — repeated to reach the target leverage. You earn the supply yield on the full looped amount, minus the cost of borrowing USDC.
- What you hold:
- A leveraged syrupUSDC collateral position with USDC debt managed inside the lending market.
- Who runs it:
- Kamino — live since 2022 · audited by 5 firms · no known incidents
Position details
- Liquidity Available
- $132K
- Max Leverage
- 8.3x
- Net APY at 8.3x
- 17.93%
- Collateral Asset
- syrupUSDC — Max LTV 88%
- Debt Asset
- USDC — Liq LTV 90%
- Supply APY
- 5.24%
- Borrow APY
- 3.50%
- Utilization
- 85.1%
- Tokens
syrupUSDCcollateral–
USDCdebt
Net APY by leverage over time. net = supply × leverage − borrow × (leverage − 1).
Elevated risk · Grade D
63/100
- Uses borrowed money, which magnifies losses — up to 8.3x leverage (liquidation at 90% LTV).
- Control over the protocol's code matters — upgradeable behind a multisig (threshold undisclosed).
- syrupUSDC's backing carries more risk than plain cash reserves — crypto-backed.
Strategy
- Strategy type80
Leveraged loop
- Leverage100
Up to 8.3x leverage (liquidation at 90% LTV).
- Yield source85
Yield comes from a leveraged position.
- Pool usage10
85% of supplied liquidity is borrowed.
- Pool size0
~$107.6M pool.
- Lock-up & yield stability33
30d APR volatility 8.3pp.
What can go wrong
- Liquidation: if your loan-to-value rises above 90%, the position is liquidated and you can lose collateral. Higher leverage sits closer to this line.
- Depeg: if USDC loses its peg, your effective LTV can spike and trigger liquidation even without a price drop in syrupUSDC.
- Rate risk: the loop is only profitable while the syrupUSDC supply yield stays above the USDC borrow cost — that spread can compress or turn negative.
The assets
What your deposit is held in, and how steady its value is.
syrupUSDC
- Backing model35
syrupUSDC: crypto-backed.
- Peg history · no data30
No peg history accrued yet (syrupUSDC).
- Issuer size59
syrupUSDC: ~$82.2M market cap.
- Exit liquidity16
syrupUSDC: ~$11.0M DEX depth.
- Token age32
syrupUSDC: live since 2024.
- Freeze authority35
syrupUSDC: issuer can freeze token accounts.
These rows show syrupUSDC. The overall score counts the weaker token on each measure.
About syrupUSDC
Each asset in this position — what it is, how reliable it is, and any past depegs.
By Maple Finance. Yield-bearing USDC backed by Maple's over-collateralized loans to vetted institutional borrowers. · Live since 2024
- ·Yield-bearing — price is designed to drift upward, so it has no fixed $1 peg.
- ·Price volatility: 0.01% (30d).
Token notes & warnings
- Freezable — The authority's owner has the ability to freeze your token account, preventing you from further trading
- Mintable — The authority's owner has the ability to mint more tokens
The team and protocol behind this, and their track record.
Supplies your deposit into Kamino's lending reserves or automated vaults, where it earns interest from borrowers. Multiply positions loop your collateral against borrowed assets to amplify yield.
- Admin controls45
Upgradeable behind a multisig (threshold undisclosed).
- Exploit history0
No known exploits.
- Track record0
Live for ~50 months.
- Price feeds35
Single robust price feed (Scope).
- Scale0
$1.4B TVL — battle-tested at scale.
- Safety reserves · no data40
No disclosed treasury/insurance backstop.
- Bug bounty0
Live bug bounty up to $1.5M.
- Audits0
Audited (OtterSec, Sec3, Offside Labs, Certora, Ackee Blockchain).
How we rate risk
Stablecoin strategies get a 0–100 risk score (lower is safer) built from three areas — Protocol (audits, incident history, track record and admin controls), Strategy (leverage, lock-ups, pool size and yield source) and Asset (the token's peg record, backing, and exit liquidity) — weighted by strategy type — and the weakest area can push the overall number higher (riskier) on its own. The score maps to a grade: A ≤ 22, B ≤ 35, C ≤ 50, D ≤ 70, E above. Grades compare opportunities within our stablecoin catalog — an A is the strongest thing we list (blue-chip stablecoin lending), not a promise of safety. Live events (an active depeg, a reported exploit, a sharp deposit outflow) override the score immediately. Where we lack data, the factor says so and scores cautiously. Non-stablecoin opportunities are not rated. A comparison aid, not advice.
Risk levels are Akashi's own assessment to help you compare opportunities — not financial advice or a safety guarantee. Every DeFi position carries smart-contract and market risk.
Non-custodial · Akashi never holds your funds