| Deposit Token | The token users deposit to get shares. It is unique and immutable per vault (e.g. USDC) |
| Allocation Cap | Maximum absolute token amount (in lamports) for a reserve allocation. Limits exposure regardless of weight. See Allocations. |
| Allocation Weight | Relative integer controlling what part of vault capital flows to a reserve. See Weight System. |
| AUM Fee | Assets Under Management fee (also called Management Fee) — an annual percentage fee on total vault value, paid to vault admin. See Fee Management. |
| Conditional Allocation | Allocation type that only activates when there is a demand for liquidity (users want to borrow or withdraw more than available in the reserve). Recommended for fixed rate reserves. See Reserve Types. |
| Crank | Off-chain bot that triggers on-chain state updates such as rebalancing. |
| Curator | Vault creator and manager — the admin wallet (or multisig) controlling vault operations. |
| Vault Farm | The farm where by default depositors stake their shares. It can be used to issue rewards but also as a protection mechanism for users to not burn/sell their shares. |
| First Loss Capital | Manager-deposited buffer that absorbs vault losses before depositors are affected. Both the manager and the protocol co-deploy into it, the funds get locked and keeps earning fees but needs 30 days for withdrawal; however, it can be used to cover any losses of the vault See Farms & Rewards. |
| Fixed Rate Reserve | Lending reserve offering a fixed interest rate for a specified duration. |
| Floating Rate Reserve | Lending reserve with a variable interest rate determined by utilization. |
| Hot Wallet | Standard wallet that signs transactions directly. Used for initial vault creation before transferring to multisig. |
| Lamports | Smallest unit of a token (e.g. 1 SOL = 1,000,000,000 lamports). Used for onchain parameters and values. |
| Liquidity Buffer | Unallocated funds kept idle in the vault to service withdrawals without requiring reserve rebalancing. See Unallocated Funds. |
| Multisig | Multi-signature wallet requiring multiple approvals to execute transactions. Kamino uses Squads on Solana. See Initial Setup. |
| Performance Fee | Fee on vault profits, paid to vault admin. See Fee Management. |
| Receipt Token (kToken) | Token issued to depositors representing their share of the vault. Format: kv[DEPOSIT_SYMBOL]-[SUFFIX]. |
| Reserve | A specific lending pool within a market. Curators allocate vault capital to individual reserves. |
| Squads | Solana multisig solution for multi-party transaction approval. All production vault management uses Squads. |
| Standard Allocation | Allocation type that always maintains a position according to its weight and caps. Used for floating rate reserves. See Reserve Types. |
| Sync Allocations | Permissionless action to rebalance vault positions to match target allocation weights. Note: it may not be always instant, as if for a reserve the new distribution has to take more than available it will need new liquidity to reach desired distribution See Syncing Allocations. |
| Unallocated Funds | Idle vault funds not allocated to any reserve. Controlled by UnallocatedWeight and UnallocatedTokensCap. |
| Withdrawal Penalty | Fee on withdrawals returned to the vault (not to admin). Security mechanism against yield-sniping. See Vault Settings. |
| Whitelisted (Pre-Approved) Reserve | Forces the vault to only allocate to “flagged” reserves. This is in case admin/allocation admin keys leak and a malicious actor allocates to a fake market and borrows everything against a fake token. |
