diff --git a/entities/internet-finance/kamino.md b/entities/internet-finance/kamino.md new file mode 100644 index 00000000..7bb330a5 --- /dev/null +++ b/entities/internet-finance/kamino.md @@ -0,0 +1,22 @@ +--- +type: entity +entity_type: company +name: Kamino +domain: internet-finance +status: active +tracked_by: rio +created: 2026-03-11 +--- + +# Kamino + +## Overview +Kamino is a Solana-based DeFi protocol providing managed liquidity vaults that automatically rebalance concentrated liquidity positions. As of 2025, Kamino vaults represent over 95% of xSOL-SOL liquidity on Solana AMMs, demonstrating that users prefer third-party managed positions over manual liquidity provision. + +## Timeline +- **2025-03-05** — Sanctum selected Kamino vaults for INF-SOL liquidity incentives, citing that 95%+ of existing xSOL-SOL liquidity comes from Kamino managed positions +- **2025-03-05** — INF-SOL Kamino vault demonstrated outperformance versus 100% INF HODL strategy, attributed to high capital velocity (trading volume relative to TVL) + +## Relationship to KB +- [[sanctum-use-up-to-25m-cloud-to-incentivise-inf-sol-liquidity-via-kamino-vaults]] - liquidity partner +- Market position as dominant managed liquidity provider on Solana suggests automated rebalancing is prerequisite for LP participation in volatile pairs \ No newline at end of file diff --git a/entities/internet-finance/sanctum-use-up-to-25m-cloud-to-incentivise-inf-sol-liquidity-via-kamino-vaults.md b/entities/internet-finance/sanctum-use-up-to-25m-cloud-to-incentivise-inf-sol-liquidity-via-kamino-vaults.md new file mode 100644 index 00000000..dcc95723 --- /dev/null +++ b/entities/internet-finance/sanctum-use-up-to-25m-cloud-to-incentivise-inf-sol-liquidity-via-kamino-vaults.md @@ -0,0 +1,38 @@ +--- +type: entity +entity_type: decision_market +name: "Sanctum: Should Sanctum use up to 2.5M CLOUD to incentivise INF-SOL liquidity via Kamino Vaults?" +domain: internet-finance +status: passed +parent_entity: "[[sanctum]]" +platform: "futardio" +proposer: "proPaC9tVZEsmgDtNhx15e7nSpoojtPD3H9h4GqSqB2" +proposal_url: "https://www.futard.io/proposal/6mc1Fp6ds8XKA2jMzBDDhVwvY6ZCGg6SNqvHy4E6LS7Q" +proposal_date: 2025-03-05 +resolution_date: 2025-03-08 +category: "treasury" +summary: "Treasury allocation to incentivize INF-SOL liquidity via Kamino Vaults with 20% initial yield dropping to 15%" +tracked_by: rio +created: 2026-03-11 +--- + +# Sanctum: Should Sanctum use up to 2.5M CLOUD to incentivise INF-SOL liquidity via Kamino Vaults? + +## Summary +Sanctum proposed allocating up to 2.5M CLOUD tokens to incentivize INF-SOL liquidity through Kamino managed vaults. The proposal offered LPs a 20% combined yield for the first month, then 15% thereafter, targeting $2.5M TVL cap with estimated 6-month duration. The rationale was that INF outperforms major LSTs (mSOL, jitoSOL) but lacks sufficient SOL native liquidity for large depositors, and that Kamino vaults represent 95%+ of existing xSOL-SOL liquidity. + +## Market Data +- **Outcome:** Passed +- **Proposer:** proPaC9tVZEsmgDtNhx15e7nSpoojtPD3H9h4GqSqB2 +- **Resolution:** 2025-03-08 (3-day window) +- **Capital at stake:** Up to 2.5M CLOUD tokens +- **Target TVL:** $2.5M +- **Incentive structure:** 20% APY month 1, then 15% APY for ~5 months + +## Significance +This proposal demonstrates futarchy governance applied to treasury-funded liquidity incentives, a common DeFi operation. The decision to use Kamino vaults rather than direct AMM liquidity reflects empirical observation that 95%+ of xSOL-SOL liquidity comes from managed positions. The proposal passed without apparent controversy, consistent with the pattern that futarchy markets show limited activity when proposals are uncontested. + +## Relationship to KB +- [[sanctum]] - parent entity governance decision +- [[MetaDAOs-futarchy-implementation-shows-limited-trading-volume-in-uncontested-decisions]] - exemplifies this pattern +- [[futarchy-markets-can-price-cultural-spending-proposals-by-treating-community-cohesion-and-brand-equity-as-token-price-inputs]] - treasury allocation mechanism \ No newline at end of file diff --git a/inbox/archive/2025-03-05-futardio-proposal-should-sanctum-use-up-to-25m-cloud-to-incentivise-inf-sol-li.md b/inbox/archive/2025-03-05-futardio-proposal-should-sanctum-use-up-to-25m-cloud-to-incentivise-inf-sol-li.md index 1279d722..f6176e3e 100644 --- a/inbox/archive/2025-03-05-futardio-proposal-should-sanctum-use-up-to-25m-cloud-to-incentivise-inf-sol-li.md +++ b/inbox/archive/2025-03-05-futardio-proposal-should-sanctum-use-up-to-25m-cloud-to-incentivise-inf-sol-li.md @@ -6,9 +6,14 @@ url: "https://www.futard.io/proposal/6mc1Fp6ds8XKA2jMzBDDhVwvY6ZCGg6SNqvHy4E6LS7 date: 2025-03-05 domain: internet-finance format: data -status: unprocessed +status: processed tags: [futardio, metadao, futarchy, solana, governance] event_type: proposal +processed_by: rio +processed_date: 2026-03-11 +enrichments_applied: ["MetaDAOs-futarchy-implementation-shows-limited-trading-volume-in-uncontested-decisions.md"] +extraction_model: "anthropic/claude-sonnet-4.5" +extraction_notes: "Proposal is primarily operational treasury allocation with limited mechanism insight. Main contribution is empirical data on Kamino's market dominance (95%+ of xSOL-SOL liquidity) and the observation that users require managed positions for LP participation. Created decision_market entity for the proposal, enriched existing futarchy trading volume claim, and created new Kamino entity given its significance as infrastructure. No novel claims warranted - this is execution of known DeFi liquidity incentive patterns via futarchy governance." --- ## Proposal Details @@ -75,3 +80,11 @@ Assuming the $2.5M TVL cap is reached, incentives should last 6 months at least. - Autocrat version: 0.3 - Completed: 2025-03-08 - Ended: 2025-03-08 + + +## Key Facts +- INF slightly underperforms best available LST but outperforms mSOL and jitoSOL (2025-03-05) +- Kamino vaults represent 95%+ of xSOL-SOL liquidity on Solana AMMs (2025-03-05) +- INF-SOL Kamino vault outperformed 100% INF HODL strategy (2025-03-05) +- Industry standard LP yield target is 15% combined (fees + incentives) (2025-03-05) +- Sanctum proposal offered 20% APY month 1, then 15% APY targeting $2.5M TVL cap (2025-03-05)