Kamino's move to block users from refinancing through Jupiter Lend sparks controversy

According to ChainCatcher, citing The Defiant, Solana lending protocol Kamino has faced criticism for blocking users from transferring loans via Jupiter Lend’s refinancing tool. Kamino manually blacklisted the on-chain address of Jupiter Lend’s newly launched Refinance tool, preventing users from closing positions through that address.

Kash Dhanda, a core contributor at Jupiter, expressed dissatisfaction about this on X. Samyak Jain, co-founder of DeFi liquidity protocol Fluid, pointed out that Kamino directly added a verification mechanism to lock users, preventing them from moving to platforms with higher yields.

According to DefiLlama data, the total value locked in the Solana lending market is about $3.7 billion, with Kamino accounting for over 60% of the market share. However, its TVL has dropped from $3.71 billion in early October to $2.33 billion currently, a nearly 30% decline in two months. As of press time, neither party has publicly responded to the issue.