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2026-05-14 16:27:17

Anyone has any good theory of why @kamino ($170M) is getting more USDe loop than @JupiterExchange ($90M)?

My theory is interest rate curve. On Kamino the max borrow APY is being set to 2%, so as long as USDe APY is larger than 2%, you will never get liquidated.
In comparison, Juplend's max borrow APY for USDG is 10% during 100% utilization.

KMNO-8.84%

USDG0.04%

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