Kamino, a decentralized finance (DeFi) platform on Solana, announced that its lending feature, Kamino Lend, has been officially verified by Osec. This marks the project’s fourth formal verification, reinforcing its claim as the “gold standard for safety and security in Solana DeFi.”
As per Kaminos X thread, the verification came after six months of work with Osec, where engineers tested Kamino’s main functions: deposit, withdraw, borrow, and repay. They confirmed that each function works correctly and keeps the system stable in all situations. Osec also verified that if a user’s position starts in good health, no action they take can make it unsafe.
Reinforcing trust through math and transparency
Kamino noted that this new verification adds to an earlier one by Certora, which confirmed that its lending system works correctly. Together, the two checks cover how Kamino is built and how it runs, creating a strong example for safe lending on Solana. Moreover, the post stated that since launching in September 2022, Kamino has operated without any security issues, bad debt, or hacks.
Kamino also said it has already gone through 18 security audits and runs on code that anyone can check publicly. On October 6, the platform also launched a $1.5 million bug bounty with Immunefi, giving security experts a chance to find and report any weaknesses in its system. Depending on the severity of the issue, researchers can earn up to 10% of the affected funds, with the highest rewards potentially reaching $1.5 million.
Expanding security frontiers
Kamino operated self-hosted bounties for three years before working with Immunefi, enhancing protocol safety. Through this new partnership, Kamino’s contracts will now be tested by one of the largest global security researcher networks. “Through this partnership, Kamino’s contracts are tested by the largest network of security researchers in the industry,” the announcement read.
According to CoinMarketCap, Kamino Finance is currently priced at $0.072693, with a 24-hour trading volume of $17.1 million. The token has declined 1.42% in the past 24 hours.
Kamino’s security checks and reward programs show its strong focus on keeping users safe and building trust in Solana DeFi.