Solana Lending Markets Face Strain as Kamino Finance USDC Utilization Hits 100%

The post says fallout from the KelpDAO rsETH hack pushed Kamino Finance (Solana lending protocol) to full USDC utilization, with multiple vaults reportedly above 95%.

SOL
USDC
RSETH

Summary

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Terms & Concepts
  • USDC utilization: A lending market metric showing how much supplied USDC has been borrowed; at 100%, no additional liquidity is readily available to borrowers.
  • Vault: A smart contract (self-executing blockchain code) pool that manages deposited assets under defined lending, borrowing, or yield strategies.
  • rsETH: A crypto asset linked to restaking (reusing staked assets for extra security or yield), referenced in the post as affected by the KelpDAO hack.