rio: extract from 2025-03-05-futardio-proposal-should-sanctum-use-up-to-25m-cloud-to-incentivise-inf-sol-li.md
- Source: inbox/archive/2025-03-05-futardio-proposal-should-sanctum-use-up-to-25m-cloud-to-incentivise-inf-sol-li.md - Domain: internet-finance - Extracted by: headless extraction cron (worker 5) Pentagon-Agent: Rio <HEADLESS>
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entities/internet-finance/kamino.md
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entities/internet-finance/kamino.md
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---
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type: entity
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entity_type: company
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name: "Kamino"
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domain: internet-finance
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status: active
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website: "https://app.kamino.finance"
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tracked_by: rio
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created: 2026-03-11
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---
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# Kamino
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## Overview
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Kamino is a Solana-based DeFi protocol providing managed liquidity vaults for concentrated liquidity AMMs. Kamino vaults automatically rebalance LP positions and have captured >95% of xSOL-SOL liquidity on Solana AMMs, indicating strong product-market fit for managed vault strategies over manual LP management.
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## Timeline
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- **2025-03-05** — Sanctum selects Kamino to manage INF-SOL liquidity incentives, citing Kamino's dominance in LST-SOL liquidity (>95% market share) and INF-SOL vault's historical outperformance of HODL strategy
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- **2025-03-08** — Sanctum's [[sanctum-use-25m-cloud-incentivise-inf-sol-liquidity]] passes, delegating dynamic APY management to Kamino team for up to 2.5M CLOUD incentive budget
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## Relationship to KB
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- [[sanctum]] - liquidity management partner
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- Demonstrates concentrated liquidity vault product-market fit on Solana
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- Validates thesis that users prefer third-party managed positions over manual LP management
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---
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type: entity
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entity_type: decision_market
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name: "Sanctum: Use up to 2.5M CLOUD to incentivise INF-SOL liquidity via Kamino Vaults"
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domain: internet-finance
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status: passed
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parent_entity: "[[sanctum]]"
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platform: "futardio"
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proposer: "proPaC9tVZEsmgDtNhx15e7nSpoojtPD3H9h4GqSqB2"
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proposal_url: "https://www.futard.io/proposal/6mc1Fp6ds8XKA2jMzBDDhVwvY6ZCGg6SNqvHy4E6LS7Q"
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proposal_date: 2025-03-05
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resolution_date: 2025-03-08
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category: "treasury"
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summary: "Treasury allocation of up to 2.5M CLOUD tokens to incentivize INF-SOL liquidity through Kamino managed vaults with 20% initial APY dropping to 15%"
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key_metrics:
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budget: "2.5M CLOUD tokens"
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target_tvl: "$2.5M"
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initial_apy: "20%"
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ongoing_apy: "15%"
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expected_duration: "6 months minimum at target TVL"
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tracked_by: rio
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created: 2026-03-11
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---
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# Sanctum: Use up to 2.5M CLOUD to incentivise INF-SOL liquidity via Kamino Vaults
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## Summary
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Sanctum's CLOUD-003 proposal allocated up to 2.5M CLOUD tokens to incentivize INF-SOL liquidity through Kamino managed vaults, offering LPs 20% APY initially (first month) then 15% ongoing, targeting $2.5M TVL with dynamic APY management by Kamino team based on TVL and CLOUD price fluctuations.
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## Market Data
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- **Outcome:** Passed
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- **Proposer:** proPaC9tVZEsmgDtNhx15e7nSpoojtPD3H9h4GqSqB2
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- **Platform:** Futardio (Autocrat v0.3)
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- **Proposal Account:** 6mc1Fp6ds8XKA2jMzBDDhVwvY6ZCGg6SNqvHy4E6LS7Q
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- **DAO Account:** 5n61x4BeVvvRMcYBMaorhu1MaZDViYw6HghE8gwLCvPR
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- **Created:** 2025-03-05
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- **Completed:** 2025-03-08
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## Rationale
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INF (Sanctum's infinity pool token) demonstrates strong performance, slightly underperforming the best LST but outperforming mSOL and jitoSOL. However, INF-SOL liquidity depth is insufficient for large depositors and for INF to become the liquidity nexus for all LSTs on Solana. The proposal targets Kamino vaults specifically because >95% of existing xSOL-SOL liquidity on AMMs comes from Kamino managed positions, indicating users prefer third-party managed, auto-rebalanced positions. The INF-SOL Kamino vault has historically outperformed 100% INF HODL strategy due to high capital velocity (trading volume relative to TVL).
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## Mechanism Design
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- Industry standard 15% combined APY (fees + incentives)
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- 20% APY for first month to bootstrap initial liquidity
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- Kamino team manages dynamic APY adjustments based on TVL changes and CLOUD price
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- Budget caps at either 2.5M CLOUD exhaustion or $2.5M TVL, whichever comes first
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- Expected 6-month minimum duration at target TVL
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## Significance
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This proposal demonstrates futarchy governance extending beyond fundraising into operational treasury management and liquidity incentive programs. It shows Autocrat v0.3 being used for complex parameter-setting decisions (dynamic APY, TVL caps, token budgets) with delegated execution to specialized teams (Kamino). The proposal also validates the thesis that managed vault positions are necessary for LST liquidity depth on Solana.
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## Relationship to KB
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- [[sanctum]] - treasury governance decision
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- [[MetaDAOs-Autocrat-program-implements-futarchy-through-conditional-token-markets-where-proposals-create-parallel-pass-and-fail-universes-settled-by-time-weighted-average-price-over-a-three-day-window]] - mechanism used
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- [[futardio]] - platform
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@ -6,9 +6,14 @@ url: "https://www.futard.io/proposal/6mc1Fp6ds8XKA2jMzBDDhVwvY6ZCGg6SNqvHy4E6LS7
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date: 2025-03-05
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domain: internet-finance
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format: data
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status: unprocessed
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status: processed
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tags: [futardio, metadao, futarchy, solana, governance]
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event_type: proposal
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processed_by: rio
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processed_date: 2026-03-11
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enrichments_applied: ["MetaDAOs-Autocrat-program-implements-futarchy-through-conditional-token-markets-where-proposals-create-parallel-pass-and-fail-universes-settled-by-time-weighted-average-price-over-a-three-day-window.md", "MetaDAO-is-the-futarchy-launchpad-on-Solana-where-projects-raise-capital-through-unruggable-ICOs-governed-by-conditional-markets-creating-the-first-platform-for-ownership-coins-at-scale.md"]
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extraction_model: "anthropic/claude-sonnet-4.5"
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extraction_notes: "Sanctum treasury governance proposal using Autocrat v0.3. Primary extraction is decision_market entity with enrichments showing futarchy extending into operational treasury management. No novel claims - the mechanism insights are already captured in existing MetaDAO claims. Created new Kamino entity as it's a significant protocol partner with >95% market share in LST liquidity management."
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---
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## Proposal Details
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@ -75,3 +80,12 @@ Assuming the $2.5M TVL cap is reached, incentives should last 6 months at least.
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- Autocrat version: 0.3
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- Completed: 2025-03-08
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- Ended: 2025-03-08
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## Key Facts
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- INF slightly underperforms best available LST but outperforms mSOL and jitoSOL (2025-03-05)
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- Kamino vaults manage >95% of xSOL-SOL liquidity on Solana AMMs (2025-03-05)
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- INF-SOL Kamino vault historically outperformed 100% INF HODL strategy (2025-03-05)
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- Industry standard for LP incentives is 15% combined APY (fees + incentives) (2025-03-05)
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- Sanctum CLOUD-003 proposal account: 6mc1Fp6ds8XKA2jMzBDDhVwvY6ZCGg6SNqvHy4E6LS7Q
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- Sanctum DAO account: 5n61x4BeVvvRMcYBMaorhu1MaZDViYw6HghE8gwLCvPR
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