Kamino, a decentralized finance (DeFi) platform, has announced the addition of two new Helium vaults with $HNT rewards to its existing line-up. The launch of these vaults signifies Kamino's commitment to providing yield opportunities across the entire Helium ecosystem, encompassing $IOT, $HNT, and $MOBILE tokens. This comes after Helium's recent migration to the Solana network, which has opened up a world of smart contract possibilities and has introduced Helium users to Solana DeFi projects like Kamino.
Helium Vaults on Kamino: What You Need to Know
The two new Helium vaults introduced on Kamino are as follows:
- $IOT - $HNT - 200 $HNT per week
- $MOBILE - $HNT - 200 $HNT per week
These vaults enable Helium users to deploy their tokens for automated yield, thanks to Kamino's state-of-the-art vault technology. By automating the process, users can enjoy compounded yields and have their position ranges managed automatically.
How Kamino Vaults Work
Kamino vaults operate behind the scenes by deploying user tokens into a decentralized exchange (DEX) like Orca. In a traditional setting, users would need to manage their deposit ranges and harvest their earnings manually. With Kamino, these tasks are automated, making the entire process more efficient and user-friendly.
Growing Use Cases for Helium Tokens
At present, $HNT, $IOT, and $MOBILE tokens are utilized for governance and redemptions within the Helium ecosystem. As the network continues to expand, it is expected that more use cases will emerge for these tokens. Kamino's innovative vaults provide a new, automated use-case for all three tokens, making it the only platform to offer such a service.
Helium's Migration to Solana and Its Benefits
Helium's recent migration to the Solana network has brought several advantages, including improved user experience and a plethora of smart contract possibilities. This migration has also introduced Helium users to Solana DeFi projects like Kamino, further expanding the range of opportunities available within the ecosystem.
Kamino's launch of two new Helium vaults demonstrates its commitment to supporting the Helium ecosystem and providing innovative yield opportunities for users. As the Helium network continues to grow, Kamino will remain at the forefront of offering unique and automated use-cases for its users, solidifying its position as a leading DeFi platform within the space.