AKASHI

Kamino Lend — USDG (SOL/BTC Market)

KaminoKaminoPoints

4.44%

Current APY

5.42%

7D avg

5.19%

30D avg

$38.6M

TVL

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Lower risk · Grade A

20/100

  • Control over the protocol's code matters — upgradeable behind a multisig (threshold undisclosed).
  • Where the return comes from adds risk — yield comes from over-collateralized lending.
  • Bad price data can trigger wrongful liquidations — single robust price feed (Scope).

Strategy

risk 22/100
  • Strategy type20

    More complex strategy type.

  • Leverage0

    No leverage.

  • Yield source45

    Yield comes from over-collateralized lending.

  • Pool usage25

    91% of supplied liquidity is borrowed.

  • Pool size2

    ~$38.6M pool.

  • Lock-up & yield stability10

    30d APR volatility 3.5pp.

What can go wrong

  • Withdrawals can be delayed when the market is near full utilization — your funds are lent out until borrowers repay.
  • Yield is variable, not fixed, and can drop as borrowing demand falls.
  • A bad-debt event in the market (a borrower's collateral can't cover their loan) can affect all suppliers.

The assets

risk 12/100

What your deposit is held in, and how steady its value is.

USDG
CGCMC
  • Backing model10

    USDG: fiat-backed.

  • Peg history8

    USDG: worst recorded peg deviation informs this score (2 recorded event(s)).

  • Issuer size10

    USDG: ~$2.7B market cap.

  • Exit liquidity5

    USDG: ~$32.4M DEX depth.

  • Token age31

    USDG: live since 2024.

  • Freeze authority35

    USDG: issuer can freeze token accounts.

About USDG

Each asset in this position — what it is, how reliable it is, and any past depegs.

USDGGlobal DollarStablecoin
Low Risk
CGCMC

By Paxos. Regulated dollar stablecoin issued by Paxos (Global Dollar Network), backed by cash and short-term US Treasuries. · Live since 2024

  • ·Worst deviation from $1 peg: 0.24% (tracked window).
  • ·Held its peg 99.8% of the time.
Peg adherence (7d): 99.5%Worst deviation (7d): 0.073%DEX liquidity: $32.4M
Audited: Yes — Attestations

Past depeg events

  • ▼ $1.65 · 2025-01-30 — 65.44% above peg, recovered source
  • ▼ $1.30 · 2025-01-30 — 29.61% above peg, recovered source
Show all 5
  • ▼ $0.93 · 2025-02-28 — 6.80% below peg, recovered source
  • ▼ $1.05 · 2024-11-21 — 5.38% above peg, recovered source
  • ▼ $1.05 · 2024-11-27 — 4.99% above peg, recovered source
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Token notes & warnings

  • Permanent delegate — This token's owner has the ability to control this token, even if it is in your wallet
  • Freezable — The authority's owner has the ability to freeze your token account, preventing you from further trading
  • Mutable transfer fees — This token's transfer fees can be updated by the owner
  • Mintable — The authority's owner has the ability to mint more tokens

Who runs it

KaminoKaminoXDocsDefiLlama
risk 23/100

The team and protocol behind this, and their track record.

Supplies your deposit into Kamino's lending reserves or automated vaults, where it earns interest from borrowers. Multiply positions loop your collateral against borrowed assets to amplify yield.

  • Admin controls45

    Upgradeable behind a multisig (threshold undisclosed).

  • Exploit history0

    No known exploits.

  • Track record0

    Live for ~50 months.

  • Price feeds35

    Single robust price feed (Scope).

  • Scale0

    $1.2B TVL — battle-tested at scale.

  • Safety reserves · no data40

    No disclosed treasury/insurance backstop.

  • Bug bounty0

    Live bug bounty up to $1.5M.

  • Audits0

    Audited (OtterSec, Sec3, Offside Labs, Certora, Ackee Blockchain).

How we rate risk

Stablecoin strategies get a 0–100 risk score (lower is safer) built from three areas — Protocol (audits, incident history, track record and admin controls), Strategy (leverage, lock-ups, pool size and yield source) and Asset (the token's peg record, backing, and exit liquidity) — weighted by strategy type — and the weakest area can push the overall number higher (riskier) on its own. The score maps to a grade: A ≤ 22, B ≤ 35, C ≤ 50, D ≤ 70, E above. Grades compare opportunities within our stablecoin catalog — an A is the strongest thing we list (blue-chip stablecoin lending), not a promise of safety. Live events (an active depeg, a reported exploit, a sharp deposit outflow) override the score immediately. Where we lack data, the factor says so and scores cautiously. Non-stablecoin opportunities are not rated. A comparison aid, not advice.

Risk levels are Akashi's own assessment to help you compare opportunities — not financial advice or a safety guarantee. Every DeFi position carries smart-contract and market risk.

Non-custodial · Akashi never holds your funds