Advertise your product or service? Contact us on Discord.

Kamino Expands Helium Ecosystem Support with the Launch of Two New Helium Vaults

By: illustrious
April 26, 2023 3:22 PM EDT
Twitter Share

Kamino, a decentralized finance (DeFi) platform, has announced the addition of two new Helium vaults with $HNT rewards to its existing line-up. The launch of these vaults signifies Kamino's commitment to providing yield opportunities across the entire Helium ecosystem, encompassing $IOT, $HNT, and $MOBILE tokens. This comes after Helium's recent migration to the Solana network, which has opened up a world of smart contract possibilities and has introduced Helium users to Solana DeFi projects like Kamino.

Helium Vaults on Kamino: What You Need to Know

The two new Helium vaults introduced on Kamino are as follows:

  • $IOT - $HNT - 200 $HNT per week
  • $MOBILE - $HNT - 200 $HNT per week

These vaults enable Helium users to deploy their tokens for automated yield, thanks to Kamino's state-of-the-art vault technology. By automating the process, users can enjoy compounded yields and have their position ranges managed automatically.

How Kamino Vaults Work

Kamino vaults operate behind the scenes by deploying user tokens into a decentralized exchange (DEX) like Orca. In a traditional setting, users would need to manage their deposit ranges and harvest their earnings manually. With Kamino, these tasks are automated, making the entire process more efficient and user-friendly.

Growing Use Cases for Helium Tokens

At present, $HNT, $IOT, and $MOBILE tokens are utilized for governance and redemptions within the Helium ecosystem. As the network continues to expand, it is expected that more use cases will emerge for these tokens. Kamino's innovative vaults provide a new, automated use-case for all three tokens, making it the only platform to offer such a service.

Helium's Migration to Solana and Its Benefits

Helium's recent migration to the Solana network has brought several advantages, including improved user experience and a plethora of smart contract possibilities. This migration has also introduced Helium users to Solana DeFi projects like Kamino, further expanding the range of opportunities available within the ecosystem.

Conclusion

Kamino's launch of two new Helium vaults demonstrates its commitment to supporting the Helium ecosystem and providing innovative yield opportunities for users. As the Helium network continues to grow, Kamino will remain at the forefront of offering unique and automated use-cases for its users, solidifying its position as a leading DeFi platform within the space.

illustrious
Always experimenting.

Recent News

Loading...
banner image of nft

DRiP Hits Milestone: Surpasses 25 Million Collectibles

By: illustrious
August 14, 2023 5:03 PM EDT
DRiP has achieved a new milestone, surpassing its 25 millionth collectible. This feat underscores its unique approach to digital assets, emphasizing mass engagement over rarity. Leveraging Solana's efficiency and a creator-centric model, DRiP's influence in the NFT space continues to soar.
Loading...
banner image of nft

Solana's TVL Hits 2023 Highs at $325 Million

By: illustrious
August 12, 2023 3:53 PM EDT
Solana's 2023 TVL peaks, highlighting increased trust and adoption. Key drivers: innovative protocols, user-friendly platforms, key partnerships, and enhanced security. Its rise underscores Solana's growing DeFi dominance.

© 2023 SolanaFloor