Solana News Today: Kamino Launches Season 4 Rewards as $KMNO Holders Question Token Utility
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最新报道：Kamino launches Season 4 rewards with $5.1M KMNO distribution over three months, featuring boosted APYs but requiring six-month vesting. The platform replaced its opaque points system with transparent KMNO-locked rewards, enabling users to stake existing holdings for extra incentives. Kamino's TVL on Solana surged to $2.9B, surpassing competitors like Solend with 16.53M SOL locked, though KMNO faces criticism for limited utility—lacking governance or yield-generation features. Stablecoin APYs exceeding 20% require multi-year vesting until 2026. Meanwhile, Solana DeFi competition heats up as Jupiter Lend tests new protocols, pressuring Kamino to improve KMNO's practical value for sustained adoption.
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