KaminoRWA Loop13.76%
—
-2.54%
$167.4M
$15K
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Strategy overview
This Kamino Multiply strategy uses PRIME as collateral to borrow USDS, then converts the borrowed USDS into more PRIME. The loop can amplify PRIME yield, but it also increases liquidation risk.
- How it works:
- Your PRIME is supplied as collateral, USDS is borrowed against it, and the borrowed USDS is swapped back into more PRIME — repeated to reach the target leverage. You earn the supply yield on the full looped amount, minus the cost of borrowing USDS.
- What you hold:
- A leveraged PRIME collateral position with USDS debt managed inside the lending market.
- Who runs it:
- Kamino — live since 2022 · audited by 5 firms · no known incidents
Position details
- Liquidity Available
- $15K
- Max Leverage
- 8.3x
- Net APY at 8.3x
- 13.76%
- Collateral Asset
- PRIME — Max LTV 88%
- Debt Asset
- USDS — Liq LTV 91%
- Supply APY
- 6.33%
- Borrow APY
- 5.31%
- Utilization
- 98.4%
- Tokens
PRIMEcollateral–USDSdebt
Net APY by leverage over time. net = supply × leverage − borrow × (leverage − 1).
Elevated risk · Grade D
66/100
- Uses borrowed money, which magnifies losses — up to 8.3x leverage (liquidation at 91% LTV).
- Control over the protocol's code matters — upgradeable behind a multisig (threshold undisclosed).
- 98% of supplied liquidity is borrowed — when nearly everything is lent out, withdrawals can be delayed.
Strategy
- Strategy type80
Leveraged loop
- Leverage100
Up to 8.3x leverage (liquidation at 91% LTV).
- Yield source85
Yield comes from a leveraged position.
- Pool usage67
98% of supplied liquidity is borrowed.
- Pool size0
~$167.4M pool.
- Lock-up & yield stability22
30d APR volatility 5.4pp.
What can go wrong
- Liquidation: if your loan-to-value rises above 91%, the position is liquidated and you can lose collateral. Higher leverage sits closer to this line.
- Depeg: if USDS loses its peg, your effective LTV can spike and trigger liquidation even without a price drop in PRIME.
- Rate risk: the loop is only profitable while the PRIME supply yield stays above the USDS borrow cost — that spread can compress or turn negative.
The assets
What your deposit is held in, and how steady its value is.
PRIME
- Backing model10
PRIME: rwa-backed.
- Peg history · no data30
No peg history accrued yet (PRIME).
- Issuer size53
PRIME: ~$125.4M market cap.
- Exit liquidity20
PRIME: ~$7.8M DEX depth.
- Token age52
PRIME: live since 2025.
- Freeze authority35
PRIME: issuer can freeze token accounts.
These rows show PRIME. The overall score counts the weaker token on each measure.
About PRIME
Each asset in this position — what it is, how reliable it is, and any past depegs.
By Hastra. Yield-bearing token backed by tokenized real-world private-credit loans (home-equity/HELOC) via Figure's Democratized Prime lending pools. · Live since 2025
- ·Yield-bearing — price is designed to drift upward, so it has no fixed $1 peg.
- ·Price volatility: 0.04% (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
$1.3B 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