Jupiter Lend has overtaken Kamino to become Solana’s largest lending protocol, with $2.6 billion in deposits and $1.08 billion in loans according to DefiLlama data as of October 6, 2026. Its TVL surged 28.1% in one month, driven mainly by stablecoin deposits, while Kamino’s grew only 5.7%. Despite holding more TVL, Jupiter generates less revenue, with $3.77 million in fees over 30 days compared to Kamino’s $4.82 million. Jupiter Lend launched publicly in August 2025 and gained market share through its Lend v2 upgrade in August 2026, which introduced Smart Collateral and Smart Debt features. The protocol benefits from its integration within the Jupiter Exchange ecosystem, one of Solana’s largest trading hubs.
Source: Read the original article
