Press Release
Press Release London | August 30, 2022 – The Hubble Protocol, home of USDH stable coins, launched {18. Camino Finance: the first centralized liquidity market maker (CLMM) optimizer of its kind on the Solana blockchain.
The first to launch on Orca, the next generation decentralized exchange (DEX), Kamino Finance will allow users to earn high yields fully automatically by simply depositing crypto in a vault linked to Orca’s liquidity “whirlpool.”
Kamino Financeis building on CLMM’s advantage of reducing slippage and facilitating larger trades by narrowing the price range at which users are offered liquidity.
By automatically adjusting positions to be set in the optimal range to earn the most commissions and provide the deepest liquidity, Kamino is removing a common pain point for CLMM liquidity providers (LPs). In addition, Camino automatically returns CLMM commissions and rewards to the user’s LP position, increasing yield as position size increases.
Marius Ciubotariu, co-founder of Hubble Protocol, said, “The management of profitable LP positions is a complex task that CLMM brings with it the increased complexity and risk of impermanent losses if the price fluctuates in the wrong direction, as well as the increased risk of loss often seen with Ethereum known to be difficult due to front running by bots.”
“The lightning-fast processing of the Solana blockchain allows Camino to offer LPs higher yields and maximum capital efficiency. This fully realizes the potential of CLMM, and with Kamino, we hope to pave the way for the next explosive growth phase for DeFi in the Solana DeFi ecosystem.”
Instead of the regular CLMM NFT, Kamino will offer a Fungible LP Token as a certificate of deposit to LPs. This LP Token can be used as collateral to borrow USDH, Hubble’s censorship-resistant stablecoin, which can then be used to trade in Solana Defi and earn further yields.
Hubble builds the first Camino vault on the concentrated liquidity vortex of Orca. When opened, the vault will be dedicated to stable and pegged asset pairs, with additional vaults to be added in the future.
Milan Patel, Orca’s head of business development, stated. “By building on top of Whirlpool, Hubble has created a simple way for liquidity providers to take advantage of centralized liquidity without having to continually rebalance. Hubble’s Camino project demonstrates that centralized liquidity on Orca is easily available to all users and protocols.”
About Hubble Protocol
Hubble Protocolallows the Solana DeFi community to borrow USDH, a censorship-resistant, crypto-backed stablecoin, SOL,etc. By depositing a variety of quality crypto tokens; BTC, ETHand liquid staking tokens such as mSOL, stSOL and daoSOL, as well as ever-growing assets, users can mint USDH at up to 80% LTV USDH can be.
USDH can be used in multiple protocols across the Solana DeFi ecosystem to trade and yield. The Hubble team is completing aroadmapthat includes improving the current USDH borrowing platform and launching new products and services like Kamino that will bring real long-term value to DeFi.
About Kamino Finance
Kamino Financeis an automated market making solution built on DEX using centralized liquidity. This protocol optimizes CLMM liquidity by leveraging Solana’s superior speed and cost to rebalance positions and automatically synthesize commissions and rewards on behalf of users.
As an automated product guided by quantitative analysis and modeling, Kamino aims to provide users with a market-making tool that requires little to no expertise to participate. LPs, when offering liquidity through Kamino, earn set and get it” in order to maximize commissions and minimize IL.
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