Before you start lending
The Earn USDC Vault lets you lend USDC through Kamino Finance's decentralized lending protocol, using your self-custody wallet. Please read this before you deposit.
Your wallet, your keys
Your USDC is held in a self-custody wallet that only you control. Solana Mobile does not hold your assets, does not control your private keys, and cannot reverse a transaction once you submit it. If you lose access to your wallet, neither Solana Mobile nor any third party can recover it or your funds for you.
Solana Mobile is the Vault's “Curator” and earns a fee
Solana Mobile serves as the “Curator” of this Kamino vault and earns a platform fee (referred to on Kamino as the “management fee”), which is reflected as net in the displayed APY, for that role. In normal operation, this is an administrative role: Solana Mobile doesn't actively manage the vault, choose borrowers, or set rates - those happen automatically through Kamino's smart contracts.
Key risks
Lending risk. If borrowers cannot repay and their collateral does not cover the full amount owed, lenders may take a loss.
No deposit insurance. Your USDC is not insured, and no government agency guarantees it.
No guaranteed rate or access. Your yield can drop to zero, and withdrawals depend on the vault having enough liquidity - they can be delayed in periods of stress.
Smart contract and protocol risk. Code can be exploited. Collateral backing the vault can lose value faster than it can be liquidated. If that happens, you could lose some or all of your principal, and no one - not Solana Mobile, not Kamino - can reverse the transaction.
Stablecoin risk. USDC's value depends on Circle's reserves. If Circle's reserves are ever impaired, USDC could lose its peg.
Regulatory uncertainty. The rules governing products like this are still developing and could change how this feature works or whether it's available to you.
Not Insured
USDC held in your self-custody wallet and lent through the Earn USDC Vault is not a deposit and is not insured or guaranteed.
Additional Details
This is a summary. Please review the Earn USDC Vault Terms and Conditions, which govern your use of this feature.