Kamino

Latest Update: Kamino Season 5 Launch & Season 4 Claim Details

Kamino has launched Season 5 on November 11, 2025, marking the conclusion of Season 4. Season 5 introduces borrow incentives on Kamino Lend for the first time, while expanding lending rewards to additional vaults.

Season 5 Overview

Key Changes in Season 5

New Vault Rewards:

• $CASH Vault by Phantom: 1,680,000 KMNO per week (3x increase from Season 4)
• USDC Prime Vault by Gauntlet: 300,000 KMNO per week (new addition)

Borrow Incentives: For the first time, users will receive KMNO rewards on borrow positions, starting with 2 core positions.

KMNO Staking Multiplier:

• Staking KMNO acts as an APY multiplier for Season 5 rewards
• Staking boosts from Season 4 automatically carry over to Season 5
• Higher stake amounts and longer staking periods increase reward boosts

Season 5 Reward Claim Options

At the end of Season 5, users can choose from three claiming strategies:

1. Instant Claim: Receive a portion of rewards immediately while forfeiting the remaining allocation
2. Partial Vesting Claim: Claim during the 6-month vesting period with a smaller forfeit over time
3. Full Vesting Wait: Claim after 6 months to receive the full amount plus a bonus from forfeited allocations

All forfeited allocations contribute to the vesting bonus pool distributed among users who wait until the end of the vesting period.

Season 4 Claim Now Available

Vesting Start Date: November 12, 2025
Instant Claim Amount: 10% of accrued Season 4 KMNO rewards
Vesting Duration: 6 months

Claim Strategy:

• Early Claim: Users claiming before the vesting end date forfeit a portion of their rewards. The early claim penalty decays exponentially—the earlier you claim, the larger the forfeit.
• Full Vesting: Users who wait the full 6 months receive their complete reward allocation plus a proportional bonus from the forfeited allocations of early claimers.