4 months ago
The laminitis of Aave downplayed Solana’s Kamino during an statement with the president of the Solana Foundation and the co-founder of Solana Labs astir decentralized wealth markets connected X.
Alex Svanevik, laminitis of Nansen, questioned the lack of Aave connected Solana, which presently boasts Kamino arsenic its largest wealth marketplace protocol.
According to DefiLlama data, Aave is disposable successful 13 blockchains arsenic of property clip and has amassed astir $19.6 cardinal successful full worth locked (TVL).
Kyle Samani, spouse astatine task superior money Multicoin Capital, commented Kamino, which is besides a wealth market.
Svanevik replied that Aave’s TVL is astir 10x larger than Kamino’s, and users would similar the erstwhile if they could usage it connected Solana. Kamino is the third-largest exertion connected Solana, with implicit $2.3 cardinal successful TVL.
Lily Liu, president of the Solana Foundation, said:
“But kamino is simply a amended product
Plus metrics contiguous are not metrics tomorrow.”
Considering her relation arsenic 1 of the astir important figures successful the Solana ecosystem, Liu’s reply offended immoderate enthusiasts.
Mats Olsen, co-founder of Dune, suggested that opening Solana to Aave would beryllium much due than comparing applications. Svanevik agreed with Olsen’s reply.
Stani Kulechov, laminitis of Aave’s parent radical Avara, commented connected Liu’s response:
“The authorities of Solana DeFi:
– Copycat Aave’s aged tech
– Slap a fractional baked UI
– Restrict besides UK users from utilizing it
– Solana instauration president calls it a amended product
Expect radical to bargain the bluff.”
Liu explained her imaginable bias arsenic the Solana Foundation cheers for “homegrown” applications. She besides called Kulechov’s reply an “outburst” to his followers.
Anatoly Yakovenko, co-founder of Solana Labs, joined the treatment comparing the applications’ gross alternatively of TVL.
Although Aave has implicit 8 times Kamino’s TVL, the Solana-based wealth marketplace registered $52 cardinal successful annualized gross compared to Aave’s $126.3 million.
Yakovenko added:
“TVL is simply a outgo of you can’t compression gross retired of it.”
Kulechov stated that the gross quality occurs due to the fact that Kamino takes a “bigger cut” from users’ fees. He compared the USD Coin (USDC) Reserve Factor of some platforms, with Kamino taking 5% much than Aave.
The Aave laminitis added:
“I conjecture determination isn’t capable contention yet connected Solana and users are paying terms for that.”
While Aave has the largest liquidity successful the wealth marketplace sector, precocious processing $210 cardinal successful liquidations aft the Feb. 2 crash, Kamino added tools to its interface to assistance america leverage their borrowing positions.
The station Aave laminitis downplays Kamino amid treatment with cardinal Solana figures appeared archetypal connected CryptoSlate.
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