Comparison with Kamino

Kamino is one of the largest lending protocols on Solana. iA Borrow outperforms Kamino in terms of borrowing cost due to its zero-interest design

To have a clear comparison with Kamino, let's compare a lending position of 100 SOL in iA Borrow versus Kamino. For this analysis, we assume a SOL price of $100, a loan amount of 5000 USDC (for Kamino). For iA Borrow, we assume a loan amount of 5000 iAUSD and assume the iAUSD was converted to 5000 USDC for an apples-to-apples comparison

	iA Borrow	Kamino
Collateral	100 SOL	100 SOL
Loan	5000 iAUDS -> 5000 USDC	5000 USDC
Interest paid (Annual)	0 USDC	600 USDC = 6 SOL ( ~ 12% avg borrow APY)
Collateral Yield	8 SOL ( ~ 8% avg staking APY)	4 SOL ( ~ 4% avg supply APY)
Cost of iAUSD -> USDC conversion	~ 2.66 SOL (iAUSD's yield share)	-
Profit / Loss	5.33 SOL	-2 SOL

iA Borrow outperforms Kamino by ~ 7.3% APY meaning borrowers save significant money by using iA Borrow to borrow stablecoins against the SOL collateral

Kamino’s SOL supply rate (Source: DeFiLlama)

Kamino’s USDC borrow rate (Source: DeFiLlama)

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