Kamino Adds USDC Borrowing Against Backpack Tokenized Stocks
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Kamino now supports USDC loans backed by Backpack tokenized stocks, with borrowing capped at 40% of collateral value.
Kamino has opened a market where users can borrow USDC using Backpack tokenized stocks as collateral, according to The Defiant.
The borrowing limit is 40% of the collateral’s value. A position valued at $1,000 would therefore support a loan of up to $400 in USDC.
Outside US equity trading sessions, the market retains the most recent stock price rather than updating it continuously. That leaves collateral pricing tied to the last available equity price until trading resumes.
Source: The Defiant
