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Documentation Index

Fetch the complete documentation index at: https://kamino.com/docs/llms.txt

Use this file to discover all available pages before exploring further.

Fixed-rate reserves are a distinct reserve type within Kamino lending markets. Each reserve has a constant borrow rate and a fixed term (e.g. USDC 5.5% 3M) and exists alongside the floating-rate reserve for the same debt token. Curators have two ways to allocate into a fixed-rate reserve:
  • Direct (Standard) allocation — capital is committed into the reserve immediately. Visible liquidity, available for direct borrows from the moment it lands.
  • Conditional allocation — capital stays in floating-rate reserves earning variable yield, and is atomically moved into the fixed-rate reserve only when borrow demand arrives.
Both are valid. Conditional is the capital-efficient default for most fixed-rate exposure; direct allocation is the right call when you want capital visibly committed and immediately available, or when you’re seeding a reserve where bootstrapping liquidity matters more than yield optimisation. Borrow demand reaches the reserve through two paths: a direct borrow (an instant atomic transaction against available reserve liquidity, just like any normal borrow) or a borrow order (a standing on-chain intent that fills when matching liquidity arrives). Both consume the same reserve liquidity — your allocation responds to either path.

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Read in this order

Concepts

The rate grid, term premium, and how borrowers consume fixed-rate liquidity.

Allocations

Standard vs. Conditional in the FR context, fill mechanics, and priority.

Configure fixed-rate allocations

Step-by-step UI / SDK / CLI walkthrough for adding an FR allocation.

Lifecycle

What your capital experiences from fill through term, rollover, repayment, post-maturity liquidation, and exits via the withdrawal queue.

Strategy

Postures, sizing, monitoring, and a worked $100M vault example.