# Kamino Finance

> Kamino Finance is a DeFi protocol on Solana offering automated yield strategies, borrowing and lending markets, leveraged positions, and concentrated liquidity vaults.
> Three product areas: **Docs** (product guides for end users), **Buildkit** (developer guides for building on Kamino, with SDK examples and API reference), and **Curators** (vault creation and management for institutional operators).
> Base API URL: `https://api.kamino.finance`. No API key required for public endpoints.

## Quick Reference

- Earn Vault deposit: `POST /ktx/kvault/deposit`
- Earn Vault withdraw: `POST /ktx/kvault/withdraw`
- Klend deposit: `POST /ktx/klend/deposit`
- Klend borrow: `POST /ktx/klend/borrow`
- Klend repay: `POST /ktx/klend/repay`
- Klend withdraw: `POST /ktx/klend/withdraw`
- All vaults: `GET /kvaults/vaults`
- All markets: `GET /v2/kamino-market`
- Oracle prices: `GET /oracles/prices`
- User vault positions: `GET /kvaults/users/{pubkey}/positions`
- User obligations: `GET /kamino-market/{marketPubkey}/users/{userPubkey}/obligations`


## Products

Product documentation for end users of Kamino Finance.

### EARN

#### Lending Vaults
- [Lending Vaults](https://kamino.com/docs/products/lending-vaults.md): Single-token managed yield aggregation across Kamino's lending markets
- [How It Works](https://kamino.com/docs/products/lending-vaults/how-it-works.md): Vault shares, yield mechanics, allocation, and withdrawals

##### Curators & Fees
- [Curators & Fees](https://kamino.com/docs/products/lending-vaults/curators.md): Vault curators, fee structures, and trust features
- [Insurance Pool](https://kamino.com/docs/products/lending-vaults/insurance-pool.md): Curator-backed loss backstop that compensates depositors after vault losses
- [Whitelisted Reserves](https://kamino.com/docs/products/lending-vaults/whitelisted-reserves.md): Protocol-level restriction on which reserves a vault can allocate to
- [Benchmark Rate](https://kamino.com/docs/products/lending-vaults/benchmark-rate.md): An objective DeFi baseline for measuring stablecoin vault performance
- [Risks](https://kamino.com/docs/products/lending-vaults/risks.md): Understanding the risks of depositing into Lending Vaults
- [Concepts](https://kamino.com/docs/products/lending-vaults/concepts.md): Reserves, utilization, auto-compounding, curators, and bad debt, how Lending Vaults work under the hood

#### Liquidity
- [Liquidity](https://kamino.com/docs/products/liquidity.md): Automated concentrated liquidity vaults for Solana DEX pools
- [Features](https://kamino.com/docs/products/liquidity/features.md): How Kamino automates concentrated liquidity management: auto-swap, auto-compound, and auto-rebalance
- [Concepts](https://kamino.com/docs/products/liquidity/concepts.md): AMMs, concentrated liquidity, impermanent loss, and how Kamino's vault strategies manage LP positions

#### Institutional Yield
- [Institutional Yield](https://kamino.com/docs/products/institutional-yield.md): Generate returns via regulated lending operations to institutional borrowers
- [Legal Structure](https://kamino.com/docs/products/institutional-yield/structure.md): The SPV and lending operation behind Institutional Yield
- [Collateral & Custody](https://kamino.com/docs/products/institutional-yield/collateral.md): How collateral is held, the LTV framework, custodian structure, and what happens when collateral coverage changes
- [Reporting & Transparency](https://kamino.com/docs/products/institutional-yield/transparency.md): What data is available to depositors, how it's sourced, and the verification mechanisms that underpin Institutional Yield
- [Risks](https://kamino.com/docs/products/institutional-yield/risks.md): Risk disclosure for Institutional Yield
- [Loan Agreement](https://kamino.com/docs/products/institutional-yield/loan-agreement.md): The agreement depositors sign when they deposit into Institutional Yield
- [Concepts](https://kamino.com/docs/products/institutional-yield/concepts.md): Foundational explanations of institutional lending, SPVs, and liquidity mechanics
- [FAQ](https://kamino.com/docs/products/institutional-yield/faq.md): Direct answers to the most common questions about Institutional Yield

### BORROW

#### Borrow
- [Borrow](https://kamino.com/docs/products/borrow.md): Kamino's peer-to-pool lending market on Solana
- [Supplying](https://kamino.com/docs/products/borrow/supplying.md): How supplying assets into Kamino Borrow works
- [Borrowing](https://kamino.com/docs/products/borrow/borrowing.md): How borrowing works on Kamino, collateral, LTV, interest, and repayment
- [Markets](https://kamino.com/docs/products/borrow/markets.md): Kamino Borrow's market structure, isolated environments, position modes, and elevation groups
- [Fees & Interest Rates](https://kamino.com/docs/products/borrow/fees.md): How interest rates are determined on Kamino Borrow, utilization curves, spreads, and liquidation penalties
- [Liquidations](https://kamino.com/docs/products/borrow/liquidations.md): How Kamino Borrow monitors position health and executes liquidations
- [Concepts](https://kamino.com/docs/products/borrow/concepts.md): The foundational ideas behind Kamino Borrow, from reserves and markets to how variable and fixed rates work
- [Fixed Rates](https://kamino.com/docs/products/borrow/fixed-rates.md): Fixed-rate borrowing on Kamino, rate certainty, term structure, and price discovery
- [Borrow Orders](https://kamino.com/docs/products/borrow/borrow-orders.md): Standing borrow orders that fill automatically as liquidity becomes available

### MULTIPLY
- [Multiply](https://kamino.com/docs/products/multiply.md): Leveraged yield strategies, amplify staking, LP, and RWA returns in a single transaction
- [How It Works](https://kamino.com/docs/products/multiply/how-it-works.md): The mechanics behind Multiply, flash loans, eMode, and yield amplification
- [Strategies](https://kamino.com/docs/products/multiply/strategies.md): SOL LSTs, JLP, stablecoins, RWAs, and tokenized stocks, Multiply strategy types and their mechanics
- [Risks](https://kamino.com/docs/products/multiply/risks.md): Understanding liquidation, borrow rate, and strategy-specific risks in Multiply
- [Concepts](https://kamino.com/docs/products/multiply/concepts.md): Flash loans, looping, Net APY, and the three categories of Multiply strategies, LSTs, JLP, and RWAs

### SWAP
- [Swap](https://kamino.com/docs/products/swap.md): How Kamino Swap routes trades across 15+ venues to find the best price
- [Limit Orders](https://kamino.com/docs/products/swap/limit-orders.md): Place standing orders that execute at your target price, zero slippage, zero fees

## Learn

Step-by-step guides for using the Kamino app: opening positions, depositing, managing risk, and withdrawing.

### MULTIPLY

- [Overview](https://kamino.com/docs/learn/multiply.md): How to open, manage, and close leveraged positions on Kamino

#### Guides
- [Key Concepts](https://kamino.com/docs/learn/multiply/key-concepts.md): What you need to know before opening a Multiply position
- [Opening a Position](https://kamino.com/docs/learn/multiply/opening-a-position.md): Step-by-step guide to selecting a vault, setting leverage, and depositing
- [Managing a Position](https://kamino.com/docs/learn/multiply/managing-a-position.md): How to monitor performance and adjust leverage, collateral, or debt

#### Reference
- [Risks & Liquidations](https://kamino.com/docs/learn/multiply/risks-and-liquidations.md): Leverage risk, borrow rate risk, and when liquidations happen

### EARN

- [Overview](https://kamino.com/docs/learn/lend.md): How to deposit, earn yield, and withdraw from Earn Vaults on Kamino

#### Guides
- [Key Concepts](https://kamino.com/docs/learn/lend/key-concepts.md): What you need to know before depositing into an Earn Vault
- [Supplying Assets](https://kamino.com/docs/learn/lend/supplying-assets.md): Step-by-step guide to depositing into an Earn Vault
- [Withdrawing Assets](https://kamino.com/docs/learn/lend/withdrawing-assets.md): How to withdraw your tokens from an Earn Vault
- [Earning Yield](https://kamino.com/docs/learn/lend/earning-yield.md): How to track your position and see your earned yield

#### Reference
- [Interest Rates](https://kamino.com/docs/learn/lend/interest-rates.md): Why your vault APY changes and what drives it
- [Risks](https://kamino.com/docs/learn/lend/risks.md): Risks to understand before and after depositing into an Earn Vault

## Security & Risk

How Kamino secures the protocol and manages risk: audits, formal verification, oracle architecture, and the risk assessment framework.

### SECURITY
- [Security](https://kamino.com/docs/security.md): Kamino's layered security approach: audits, formal verification, bug bounty, and continuous monitoring

#### Audits & Verification
- [Security Audits](https://kamino.com/docs/security/audits.md): Complete inventory of all security audits conducted on Kamino's smart contracts
- [Formal Verification](https://kamino.com/docs/security/formal-verification.md): Mathematical proofs of correctness for Kamino's core smart contracts
- [Fuzzing & Testing](https://kamino.com/docs/security/fuzzing.md): Automated fuzzing campaigns and verifiable builds for Kamino's smart contracts

#### Oracle Architecture
- [Scope Aggregator](https://kamino.com/docs/security/oracles.md): Kamino's proprietary on-chain oracle aggregator, multi-provider redundancy with validation
- [Price Protection](https://kamino.com/docs/security/oracles/price-protection.md): TWAP, EWMA, and price band mechanisms that defend against oracle manipulation
- [LST Oracles](https://kamino.com/docs/security/oracles/lst-oracles.md): How Kamino prices liquid staking tokens using stake rates instead of market prices
- [Infrastructure & Redundancy](https://kamino.com/docs/security/infrastructure.md): Operational security: redundancy, monitoring, liquidation infrastructure, and stress testing
- [Bug Bounty](https://kamino.com/docs/security/bug-bounty.md): Kamino's $1.5M ImmuneFi bug bounty program, Solana's largest at launch

### RISK FRAMEWORK
- [Framework & Track Record](https://kamino.com/docs/risk.md): How Kamino manages risk across its lending protocol, and the empirical track record under real market stress

#### Asset Risk
- [Assessment Framework](https://kamino.com/docs/risk/asset-risk.md): The 5-dimension asset risk assessment used for token onboarding and ongoing risk review
- [Oracle Pricing Risk](https://kamino.com/docs/risk/asset-risk/oracle-pricing.md): How oracle quality and reliability are evaluated as part of the asset risk framework
- [Smart Contract Risk](https://kamino.com/docs/risk/asset-risk/smart-contract.md): How the code quality and security posture of listed tokens' underlying contracts are evaluated
- [Depeg Risk](https://kamino.com/docs/risk/asset-risk/depeg.md): How depegging risk is evaluated for stablecoins, liquid staking tokens, and wrapped assets
- [Counterparty Risk](https://kamino.com/docs/risk/asset-risk/counterparty.md): How governance decentralization, holder concentration, and trust assumptions are evaluated

#### Market Risk
- [Market Risk Overview](https://kamino.com/docs/risk/market-risk.md): How token volatility, liquidity, and price dynamics determine whether liquidations can execute profitably
- [Volatility Analysis](https://kamino.com/docs/risk/market-risk/volatility.md): How Kamino measures token volatility using Parkinson's measure and how it informs LTV calibration
- [Liquidity & Price Impact](https://kamino.com/docs/risk/market-risk/liquidity.md): How token liquidity, trading volumes, price impact, and price resilience determine liquidation feasibility
- [Correlations & Systemic Risk](https://kamino.com/docs/risk/market-risk/correlations.md): How token relationships, market capitalization, and systemic exposure are evaluated
- [KRAF Dashboard](https://kamino.com/docs/risk/kraf-dashboard.md): Guide to the live Kamino Risk Assessment Framework dashboard at risk.kamino.finance

### PROTOCOL SAFEGUARDS
- [Interest Rate Model](https://kamino.com/docs/risk/safeguards/interest-rates.md): How Kamino's poly-linear interest rate curve manages liquidity risk and maintains withdrawal availability
- [Auto-Deleverage](https://kamino.com/docs/risk/safeguards/auto-deleverage.md): Kamino's novel mechanism for orderly unwinding of risky positions before bad debt materializes
- [Daily Caps](https://kamino.com/docs/risk/safeguards/daily-caps.md): How daily flow limits prevent outsized position buildup and bound potential damage from exploits
- [E-Mode Caps](https://kamino.com/docs/risk/safeguards/e-mode-caps.md): Per-pair borrow limits that enable granular risk control for each collateral/debt combination

## KMNO

The native token of the Kamino protocol.

### Token
- [KMNO](https://kamino.com/docs/kmno.md): KMNO is the native token of the Kamino protocol

## Resources

Brand assets and shared resources for partners and integrators.

### Resources
- [Brand Resources](https://kamino.com/docs/resources/brand.md): Official Kamino brand assets for partners, press, and collaborators. Download logos, wordmarks, icons, and brand guidelines to represent Kamino consistently across any medium.

## Buildkit

Developer documentation for building on Kamino: REST API, TypeScript SDK, and Rust crate, plus tutorials, recipes, and the CLI.

### Get Started

#### Welcome
- [index](https://kamino.com/docs/build.md): Integrate Kamino for yield or crypto loans

### Developers

#### Developers
- [Overview](https://kamino.com/docs/build/developers/overview.md): The Kamino SDK, API, and Rust crate provide access to Earn vaults and Borrow markets
- [API vs SDK vs Rust Crate](https://kamino.com/docs/build/developers/api-vs-sdk.md): Access data and build transactions through the API, the TypeScript SDK, or the Rust interface crate

#### Earn
- [Earn Vaults](https://kamino.com/docs/build/developers/earn.md): Learn how to build with Earn

##### Data
- [Vault](https://kamino.com/docs/build/developers/earn/data/vault-data.md)
- [User Position](https://kamino.com/docs/build/developers/earn/data/user-position-data.md)

###### Advanced Concepts
- [Create a Vault](https://kamino.com/docs/build/developers/earn/data/advanced-concepts/creating-a-vault.md): Create and configure Kamino vaults with custom fee structures to earn revenue

##### Operations
- [Deposit](https://kamino.com/docs/build/developers/earn/operations/deposit.md): Deposit assets into Kamino Earn vaults
- [Withdraw](https://kamino.com/docs/build/developers/earn/operations/withdraw.md): Withdraw assets from Kamino Earn vaults

#### Borrow
- [Borrow & Lend](https://kamino.com/docs/build/developers/borrow.md): Learn how to build with Borrow

##### Data
- [Market](https://kamino.com/docs/build/developers/borrow/data/market-data.md)
- [User Obligation](https://kamino.com/docs/build/developers/borrow/data/user-position-data.md)

##### Operations
- [Deposit](https://kamino.com/docs/build/developers/borrow/operations/deposit.md): Deposit assets as collateral or liquidity
- [Withdraw](https://kamino.com/docs/build/developers/borrow/operations/withdraw.md): Withdraw liquidity or collateral
- [Borrow](https://kamino.com/docs/build/developers/borrow/operations/borrow.md): Borrow assets against collateral
- [Repay](https://kamino.com/docs/build/developers/borrow/operations/repay.md): Repay borrowed assets

###### Advanced Concepts
- [Deposit with Referral](https://kamino.com/docs/build/developers/borrow/operations/advanced-concepts/deposit-with-referral.md): Deposit funds with a referrer who earns commission from a user's borrowing activity
- [Refer User Without Deposit](https://kamino.com/docs/build/developers/borrow/operations/advanced-concepts/refer-user-without-deposit.md): Create UserMetadata with a referrer without requiring an initial deposit
- [Referral Code Setup](https://kamino.com/docs/build/developers/borrow/operations/advanced-concepts/referrer-setup.md): Set up referrer state with a unique referral code
- [Withdraw Referrer Fees](https://kamino.com/docs/build/developers/borrow/operations/advanced-concepts/withdraw-referrer-fees.md): Withdraw accumulated referral fees from borrowing activity

##### Rewards
- [Calculate Reserve Reward APY](https://kamino.com/docs/build/developers/borrow/rewards/calculate-reserve-reward-apy.md): Calculate collateral and debt farm reward APY for market reserves
- [Calculate Extra Farm Reward APY](https://kamino.com/docs/build/developers/borrow/rewards/extra-farm-reward-apy.md): Calculate APY for extra farm stablecoin rewards
- [Calculate Claimable User Rewards](https://kamino.com/docs/build/developers/borrow/rewards/calculate-claimable-user-rewards.md): Calculate pending rewards for a user across all farm positions and check claimability
- [Claim User Rewards](https://kamino.com/docs/build/developers/borrow/rewards/claim-user-rewards.md): Claim all pending rewards from lending farm positions

##### Position Management
- [Repay with Collateral using KSwap](https://kamino.com/docs/build/developers/borrow/operations/advanced-concepts/repay-with-collateral-kswap.md): Reduce debt by converting collateral using flash loans in a single atomic transaction

#### Multiply
- [Multiply](https://kamino.com/docs/build/developers/multiply/overview.md): Understanding how Multiply creates leveraged positions through atomic looping with flash loans

##### Data
- [Monitor Position Health](https://kamino.com/docs/build/developers/multiply/data/health-metrics.md): Monitor LTV, leverage, and liquidation risk of multiply positions

##### Operations
- [Flash Loans](https://kamino.com/docs/build/developers/multiply/flash-loans.md): Execute flash loans for atomic, uncollateralized borrowing within a single transaction
- [Multiply Deposit with xStocks](https://kamino.com/docs/build/developers/multiply/operations/deposit-xstocks.md): Create leveraged positions using xStocks collateral with atomic flash loan deposits
- [Multiply Repay with xStocks](https://kamino.com/docs/build/developers/multiply/operations/repay-xstocks.md): Repay debt on leveraged xStocks positions to reduce leverage and lower liquidation risk
- [Multiply Withdraw with xStocks](https://kamino.com/docs/build/developers/multiply/operations/withdraw-xstocks.md): Withdraw collateral from leveraged xStocks positions after repaying debt
- [Multiply Deleverage with xStocks](https://kamino.com/docs/build/developers/multiply/operations/deleverage-xstocks.md): Reduce leverage on xStocks positions by selling collateral to repay debt atomically
- [Repay with Collateral](https://kamino.com/docs/build/developers/multiply/operations/repay-collateral.md): Repay debt using collateral from your position with KSwap routing

#### Liquidity
- [Liquidity](https://kamino.com/docs/build/developers/liquidity/overview.md): Learn how to build with Kamino's automated concentrated liquidity vaults

##### Data
- [Strategy](https://kamino.com/docs/build/developers/liquidity/data/strategy.md)
- [User Position](https://kamino.com/docs/build/developers/liquidity/data/user-position.md)

##### Operations
- [Deposit](https://kamino.com/docs/build/developers/liquidity/operations/deposit.md): Deposit into a Kamino liquidity strategy
- [Withdraw](https://kamino.com/docs/build/developers/liquidity/operations/withdraw.md): Withdraw all shares from a Kamino liquidity strategy

#### Rewards
- [Farms](https://kamino.com/docs/build/developers/rewards/overview.md): Learn how to build with Kamino Farms, the rewards distribution layer for Kamino products

##### Data
- [Farms](https://kamino.com/docs/build/developers/rewards/data/farm-state.md): Read farm state, discover farms, and compute reward APY with the Kamino Farms SDK
- [User Position](https://kamino.com/docs/build/developers/rewards/data/user-position.md): Read a wallet's farm stake, lockup and cooldown status, and pending rewards with the Kamino Farms SDK

##### Operations
- [Stake](https://kamino.com/docs/build/developers/rewards/operations/stake.md): Stake share tokens into a Kamino farm
- [Unstake](https://kamino.com/docs/build/developers/rewards/operations/unstake.md): Unstake share tokens from a Kamino farm
- [Withdraw](https://kamino.com/docs/build/developers/rewards/operations/withdraw-unstaked.md): Withdraw unstaked tokens from a Kamino farm to your wallet
- [Harvest](https://kamino.com/docs/build/developers/rewards/operations/harvest.md): Claim all pending rewards from a Kamino farm

#### Oracle

- [Oracle Developer Guide](https://kamino.com/docs/build/developers/oracle/overview.md): Build with the Scope SDK to read on-chain oracle prices, inspect feed wiring, and refresh price slots
- [Prices](https://kamino.com/docs/build/developers/oracle/data/prices.md): Read all Scope prices or resolve a single token via its scope chain. SDK and REST.
- [Feeds](https://kamino.com/docs/build/developers/oracle/data/feeds.md): Inspect a feed's configuration, chain metadata, and per-slot oracle mappings
- [Refresh Prices](https://kamino.com/docs/build/developers/oracle/operations/refresh.md): Build and send the permissionless Scope refresh instruction

#### Agentic Finance
- [Building with LLMs](https://kamino.com/docs/build/agentic-finance/building-with-llms.md): Leverage Kamino documentation with AI agents and language models for faster development
- [Agent Integrations: Using OpenClaw with Kamino](https://kamino.com/docs/build/agentic-finance/openclaw-agent-integration.md): Build an OpenClaw skill to enable AI agents to autonomously interact with Kamino's lending markets and yield vaults.

#### Resources
- [Kamino Program Addresses](https://kamino.com/docs/build/resources/program-addresses.md): The official program addresses for Kamino's protocols across different environments

### Earn

#### Earn
- [Earn Overview](https://kamino.com/docs/build/earn.md)
- [Get Vault APYs](https://kamino.com/docs/build/earn/get-vault-apys.md): Fetch vault APY data using the API or SDK
- [Vault Data and Metrics](https://kamino.com/docs/build/earn/vault-data-positions.md): Learn how to retrieve vault TVL, APY, farm rewards, allocation weights, and user share balances using the Kamino SDK and API

#### SDK Tutorials
- [Earn Vaults: Deposit and Withdraw](https://kamino.com/docs/build/earn/tutorials/earn-and-withdraw.md): Deposit assets into Kamino Earn Vaults and withdraw your shares
- [Claim Rewards](https://kamino.com/docs/build/earn/tutorials/claim-rewards.md): Claim all rewards earned from Kamino vaults
- [Create a Vault](https://kamino.com/docs/build/earn/tutorials/creating-a-vault.md): Create and configure Kamino vaults with custom fee structures to earn revenue

#### API Recipes
- [Earn Deposit with the API](https://kamino.com/docs/build/earn/recipes/earn-via-api.md): The API generates the unsigned transaction, and the client signs it securely
- [Earn Withdraw with the API](https://kamino.com/docs/build/earn/recipes/earn-withdraw-via-api.md): The API generates the unsigned transaction, and the client signs it securely

### Borrow

#### Borrow
- [Borrow Overview](https://kamino.com/docs/build/borrow.md)
- [Get Market Reserve APYs](https://kamino.com/docs/build/borrow/get-market-reserve-apys.md): Fetch Kamino market reserve borrow and supply APY data using the API or SDK
- [Market Data and Metrics](https://kamino.com/docs/build/borrow/market-data-metrics.md): Learn how to access market data including supply APY, borrow APY, TVL, and utilization rates for lending reserves

##### SDK Tutorials
- [Deposit and Borrow](https://kamino.com/docs/build/borrow/tutorials/deposit-and-borrow.md): Deposit collateral and borrow assets against it
- [Repay and Withdraw](https://kamino.com/docs/build/borrow/tutorials/repay-and-withdraw.md): Repay borrowed assets and withdraw your collateral

##### API Recipes
- [Deposit with the API](https://kamino.com/docs/build/borrow/recipes/deposit-via-api.md): The API generates the unsigned transaction, and the client signs it securely
- [Borrow with the API](https://kamino.com/docs/build/borrow/recipes/borrow-via-api.md): The API generates the unsigned transaction, and the client signs it securely
- [Repay with the API](https://kamino.com/docs/build/borrow/recipes/repay-via-api.md): The API generates the unsigned transaction, and the client signs it securely
- [Withdraw via the API](https://kamino.com/docs/build/borrow/recipes/withdraw-via-api.md): The API generates the unsigned transaction, and the client signs it securely

#### Multiply
- [Flash Loans](https://kamino.com/docs/build/borrow/multiply/flash-loans.md): Execute atomic flash loan transactions on Kamino
- [Multiply Deposit with KSwap](https://kamino.com/docs/build/borrow/multiply/multiply-deposit-kswap.md): Leverage your position by borrowing and swapping to deposit more collateral
- [Multiply Repay with xStocks](https://kamino.com/docs/build/borrow/multiply/multiply-repay-xstocks.md): Repay debt on multiply positions with tokenized stocks to reduce leverage
- [Multiply Withdraw with xStocks](https://kamino.com/docs/build/borrow/multiply/multiply-withdraw-xstocks.md): Withdraw collateral from multiply positions with tokenized stocks
- [Deleverage Multiply Position with xStocks](https://kamino.com/docs/build/borrow/multiply/multiply-deleverage-xstocks.md): Reduce leverage by selling collateral to repay debt atomically
- [Repay with Collateral](https://kamino.com/docs/build/borrow/multiply/repay-collateral-kswap.md): Swap collateral to repay borrowed assets in a single transaction
- [Monitor Position Health](https://kamino.com/docs/build/borrow/multiply/monitor-position-health.md): Monitor LTV, leverage, and liquidation risk for your multiply positions

### Liquidity

#### Liquidity
- [Liquidity](https://kamino.com/docs/build/developers/liquidity/overview.md): Learn how to build with Kamino's automated concentrated liquidity vaults

### Rewards

#### Rewards
- [Farms](https://kamino.com/docs/build/developers/rewards/overview.md): Learn how to build with Kamino Farms, the rewards distribution layer for Kamino products

### AI

#### AI
- [Building with LLMs](https://kamino.com/docs/build/agentic-finance/building-with-llms.md): Leverage Kamino documentation with AI agents and language models for faster development

### API Reference

#### API Reference
- [Kamino API](https://kamino.com/docs/build/api-reference/introduction.md)

#### Earn

##### Vault Data
- [Get all kvaults](https://kamino.com/docs/build/api-reference/earn/vault-data/vaults-list.md): GET /kvaults/vaults
- [Get KVault by address](https://kamino.com/docs/build/api-reference/earn/vault-data/vault-detail.md): GET /kvaults/vaults/{pubkey}
- [Get current KVault metrics](https://kamino.com/docs/build/api-reference/earn/vault-data/vault-metrics.md): GET /kvaults/vaults/{pubkey}/metrics
- [Get historical KVault metrics](https://kamino.com/docs/build/api-reference/earn/vault-data/vault-metrics-history.md): GET /kvaults/vaults/{pubkey}/metrics/history
- [Get historical KVault allocation volume](https://kamino.com/docs/build/api-reference/earn/vault-data/vault-allocation-history.md): GET /kvaults/vaults/{pubkey}/allocation-volume/history
- [Get all KVault season rewards](https://kamino.com/docs/build/api-reference/earn/vault-data/vaults-rewards.md): GET /kvaults/rewards
- [Get summary of the KVault program earnings](https://kamino.com/docs/build/api-reference/earn/vault-data/vaults-summary.md): GET /kvaults/summary
- [Get metadata for KVault token](https://kamino.com/docs/build/api-reference/earn/vault-data/vault-mint-metadata.md): GET /kvaults/mints/{pubkey}/metadata
- [Get icon for KVault token](https://kamino.com/docs/build/api-reference/earn/vault-data/vault-mint-image.md): GET /kvaults/mints/{pubkey}/metadata/image.svg

##### User Data
- [Get historical user metrics for all KVault positions](https://kamino.com/docs/build/api-reference/earn/user-data/user-metrics-history.md): GET /kvaults/users/{pubkey}/metrics/history
- [Get user KVault transactions](https://kamino.com/docs/build/api-reference/earn/user-data/user-transactions.md): GET /kvaults/users/{pubkey}/transactions
- [Get all user KVault positions](https://kamino.com/docs/build/api-reference/earn/user-data/user-positions.md): GET /kvaults/users/{pubkey}/positions
- [Get user position for a specific KVault](https://kamino.com/docs/build/api-reference/earn/user-data/user-vault-position.md): GET /kvaults/users/{userPubkey}/positions/{vaultPubkey}
- [Get historical user metrics for a single KVault](https://kamino.com/docs/build/api-reference/earn/user-data/user-vault-metrics-history.md): GET /kvaults/users/{userPubkey}/vaults/{vaultPubkey}/metrics/history
- [Get user KVault PnL](https://kamino.com/docs/build/api-reference/earn/user-data/user-vault-pnl.md): GET /kvaults/users/{userPubkey}/vaults/{vaultPubkey}/pnl
- [Get user KVault PnL history](https://kamino.com/docs/build/api-reference/earn/user-data/user-vault-pnl-history.md): GET /kvaults/users/{userPubkey}/vaults/{vaultPubkey}/pnl/history

##### Deposit Txn
- [Get transaction to deposit into a kvault](https://kamino.com/docs/build/api-reference/earn/actions/deposit/kvault-deposit.md): POST /ktx/kvault/deposit
- [Get instructions to deposit into a kvault](https://kamino.com/docs/build/api-reference/earn/actions/deposit/kvault-deposit-instructions.md): POST /ktx/kvault/deposit-instructions

##### Withdraw Txn
- [Get transaction to withdraw from a kvault](https://kamino.com/docs/build/api-reference/earn/actions/withdraw/kvault-withdraw.md): POST /ktx/kvault/withdraw
- [Get instructions to withdraw from a kvault](https://kamino.com/docs/build/api-reference/earn/actions/withdraw/kvault-withdraw-instructions.md): POST /ktx/kvault/withdraw-instructions

#### Borrow

##### Market Data
- [Get all Kamino Markets config](https://kamino.com/docs/build/api-reference/borrow/market-data/markets-list.md): GET /v2/kamino-market
- [Get Kamino Market config](https://kamino.com/docs/build/api-reference/borrow/market-data/market-detail.md): GET /v2/kamino-market/{pubkey}
- [Get metrics for market reserves](https://kamino.com/docs/build/api-reference/borrow/market-data/market-reserves-metrics.md): GET /kamino-market/{pubkey}/reserves/metrics
- [Get KLend reserve history](https://kamino.com/docs/build/api-reference/borrow/market-data/market-reserve-metrics-history.md): GET /kamino-market/{marketPubkey}/reserves/{reservePubkey}/metrics/history
- [Get metrics for leverage/multiply vaults](https://kamino.com/docs/build/api-reference/borrow/market-data/market-leverage-metrics.md): GET /kamino-market/{pubkey}/leverage/metrics
- [Get KLend market reserves account data](https://kamino.com/docs/build/api-reference/borrow/market-data/market-reserves-account-data.md): GET /kamino-market/reserves/account-data

##### User and Loans Data
- [Get user KLend rewards](https://kamino.com/docs/build/api-reference/borrow/user-and-loans-data/user-rewards.md): GET /klend/users/{pubkey}/rewards
- [Get information about a loan (obligation)](https://kamino.com/docs/build/api-reference/borrow/user-and-loans-data/loan-detail.md): GET /klend/loans/{pubkey}
- [Get all user obligations](https://kamino.com/docs/build/api-reference/borrow/user-and-loans-data/user-obligations.md): GET /kamino-market/{marketPubkey}/users/{userPubkey}/obligations
- [Get profit and loss for an obligation](https://kamino.com/docs/build/api-reference/borrow/user-and-loans-data/obligation-pnl.md): GET /v2/kamino-market/{marketPubkey}/obligations/{obligationPubkey}/pnl
- [Get KLend obligation history](https://kamino.com/docs/build/api-reference/borrow/user-and-loans-data/obligation-metrics-history.md): GET /v2/kamino-market/{marketPubkey}/obligations/{obligationPubkey}/metrics/history

##### Rewards
- [Get KLend rewards](https://kamino.com/docs/build/api-reference/borrow/rewards/rewards-list.md): GET /klend/rewards
- [Get KLend reward history](https://kamino.com/docs/build/api-reference/borrow/rewards/rewards-history.md): GET /klend/{depositReservePubkey}/{borrowReservePubkey}/rewards/history

##### Deposit Txn
- [Get transaction to deposit into a klend reserve](https://kamino.com/docs/build/api-reference/borrow/actions/deposit/klend-deposit.md): POST /ktx/klend/deposit
- [Get instructions to deposit into a klend reserve](https://kamino.com/docs/build/api-reference/borrow/actions/deposit/klend-deposit-instructions.md): POST /ktx/klend/deposit-instructions

##### Withdraw Txn
- [Get transaction to withdraw from a klend reserve](https://kamino.com/docs/build/api-reference/borrow/actions/withdraw/klend-withdraw.md): POST /ktx/klend/withdraw
- [Get instructions to withdraw from a klend reserve](https://kamino.com/docs/build/api-reference/borrow/actions/withdraw/klend-withdraw-instructions.md): POST /ktx/klend/withdraw-instructions

##### Borrow Txn
- [Get transaction to borrow liquidity from a klend reserve](https://kamino.com/docs/build/api-reference/borrow/actions/borrow/klend-borrow.md): POST /ktx/klend/borrow
- [Get instructions to borrow liquidity from a klend reserve](https://kamino.com/docs/build/api-reference/borrow/actions/borrow/klend-borrow-instructions.md): POST /ktx/klend/borrow-instructions

##### Repay Txn
- [Get transaction to repay debt of a klend reserve](https://kamino.com/docs/build/api-reference/borrow/actions/repay/klend-repay.md): POST /ktx/klend/repay
- [Get instructions to repay debt of a klend reserve](https://kamino.com/docs/build/api-reference/borrow/actions/repay/klend-repay-instructions.md): POST /ktx/klend/repay-instructions

#### Liquidity

##### Strategy Data
- [Get all strategies](https://kamino.com/docs/build/api-reference/liquidity/strategy-data/strategies-list.md): GET /strategies
- [Get strategy metrics](https://kamino.com/docs/build/api-reference/liquidity/strategy-data/strategy-metrics.md): GET /strategies/{pubkey}/metrics
- [Get strategy historical metrics](https://kamino.com/docs/build/api-reference/liquidity/strategy-data/strategy-metrics-history.md): GET /v2/strategies/{pubkey}/history
- [Get total strategy TVL](https://kamino.com/docs/build/api-reference/liquidity/strategy-data/strategies-tvl.md): GET /strategies/tvl
- [Get strategy fees and rewards](https://kamino.com/docs/build/api-reference/liquidity/strategy-data/strategies-fees-and-rewards.md): GET /strategies/fees-and-rewards

##### User Data
- [Get user PnL](https://kamino.com/docs/build/api-reference/liquidity/user-data/user-pnl.md): GET /v2/strategies/{strategyPubkey}/shareholders/{walletPubkey}/pnl
- [Get user PnL history](https://kamino.com/docs/build/api-reference/liquidity/user-data/user-pnl-history.md): GET /v2/strategies/{strategyPubkey}/shareholders/{walletPubkey}/pnl/history
- [Get user fees and rewards](https://kamino.com/docs/build/api-reference/liquidity/user-data/user-fees-and-rewards.md): GET /strategies/{strategyPubkey}/shareholders/{walletPubkey}/fees-and-rewards
- [Get user rewards history](https://kamino.com/docs/build/api-reference/liquidity/user-data/user-rewards-history.md): GET /strategies/shareholders/{walletPubkey}/rewards/history
- [Get user transactions](https://kamino.com/docs/build/api-reference/liquidity/user-data/user-transactions.md): GET /v2/shareholders/{walletPubkey}/transactions

#### Oracle

##### Prices
- [Get oracle prices](https://kamino.com/docs/build/api-reference/oracle/oracle-prices.md): GET /oracles/prices
- [Get token prices](https://kamino.com/docs/build/api-reference/oracle/token-prices.md): GET /prices

#### Rewards

##### Farm Data
- [Get farm transactions](https://kamino.com/docs/build/api-reference/rewards/farm-transactions.md): GET /farms/{farmPubkey}/transactions
- [Get farm management history](https://kamino.com/docs/build/api-reference/rewards/farm-management-history.md): GET /farms/{farmPubkey}/management-history

##### User Farm Data
- [Get user farm transactions](https://kamino.com/docs/build/api-reference/rewards/user-transactions.md): GET /farms/users/{pubkey}/transactions

#### Swap

##### Route
- [Swap](https://kamino.com/docs/build/api-reference/kswap/swap.md): GET /kswap/swap/

#### Full API Reference

##### Actions

### Tutorials

#### Earn
- [Vaults](https://kamino.com/docs/build/tutorials/earn.md): Learn how to retrieve vault TVL, APY, farm rewards, allocation weights, and user share balances using the Kamino SDK and API
- [Earn and Withdraw](https://kamino.com/docs/build/tutorials/earn/earn-and-withdraw.md): Deposit assets into Kamino Earn Vaults and withdraw your shares
- [Create a Vault](https://kamino.com/docs/build/tutorials/earn/creating-a-vault.md): Create and configure Kamino vaults with custom fee structures to earn revenue
- [Claim Rewards](https://kamino.com/docs/build/tutorials/earn/claim-rewards.md): Claim all rewards earned from Kamino vaults

#### Borrow
- [Markets](https://kamino.com/docs/build/tutorials/borrow.md): Learn how to access market data including supply APY, borrow APY, TVL, and utilization rates for lending reserves
- [Deposit and Borrow](https://kamino.com/docs/build/tutorials/borrow/deposit-and-borrow.md): Deposit collateral and borrow assets against it
- [Repay and Withdraw](https://kamino.com/docs/build/tutorials/borrow/repay-and-withdraw.md): Repay borrowed assets and withdraw your collateral
- [Mint cTokens](https://kamino.com/docs/build/tutorials/borrow/mint-ctokens.md): Mint cTokens by depositing liquidity into Kamino lending reserves
- [Redeem cTokens](https://kamino.com/docs/build/tutorials/borrow/redeem-ctokens.md): Redeem cTokens to receive the underlying asset plus earned interest
- [Interest Rate Curve](https://kamino.com/docs/build/tutorials/borrow/calculate-interest-rate-curve.md): Calculate how borrow and supply APY change based on pool utilization

##### Rewards
- [Calculate Reserve Reward APY](https://kamino.com/docs/build/tutorials/borrow/calculate-reserve-reward-apy.md): Calculate collateral and debt farm reward APY for market reserves
- [Calculate Extra Farm Reward APY](https://kamino.com/docs/build/tutorials/borrow/extra-farm-reward-apy.md): Calculate APY for extra farm stablecoin rewards
- [Calculate Claimable User Rewards](https://kamino.com/docs/build/tutorials/borrow/calculate-claimable-user-rewards.md): Calculate pending rewards for a user across all farm positions and check claimability
- [Claim User Rewards](https://kamino.com/docs/build/tutorials/borrow/claim-user-rewards.md): Claim all pending rewards from lending farm positions

##### Position Management
- [Flash Loans](https://kamino.com/docs/build/tutorials/borrow/flash-loans.md): Execute a flash loan to borrow assets and repay within a single atomic transaction
- [Multiply Deposit with KSwap](https://kamino.com/docs/build/tutorials/borrow/multiply-deposit-kswap.md): Create leveraged positions using flash loans in a single atomic transaction
- [Repay with Collateral using KSwap](https://kamino.com/docs/build/tutorials/borrow/repay-with-collateral-kswap.md): Reduce debt by converting collateral using flash loans in a single atomic transaction

##### Referrals
- [Deposit with Referral](https://kamino.com/docs/build/tutorials/borrow/deposit-with-referral.md): Deposit funds with a referrer who earns commission from a user's borrowing activity
- [Refer User Without Deposit](https://kamino.com/docs/build/tutorials/borrow/refer-user-without-deposit.md): Create UserMetadata with a referrer without requiring an initial deposit
- [Referral Code Setup](https://kamino.com/docs/build/tutorials/borrow/referrer-setup.md): Set up referrer state with a unique referral code
- [Withdraw Referrer Fees](https://kamino.com/docs/build/tutorials/borrow/withdraw-referrer-fees.md): Withdraw accumulated referral fees from borrowing activity

### Recipes

#### Agentic Finance
- [Building with LLMs](https://kamino.com/docs/build/resources/building-with-llms.md): Leverage Kamino documentation with AI agents and language models for faster development

#### Earn
- [Get Vault APYs](https://kamino.com/docs/build/recipes/earn/get-vault-apys.md): Fetch Kamino vault APY data using the API or SDK
- [Earn Deposit with the API](https://kamino.com/docs/build/recipes/earn/earn-via-api.md): The API generates the unsigned transaction, and the client signs it securely
- [Earn Withdraw with the API](https://kamino.com/docs/build/recipes/earn/earn-withdraw-via-api.md): The API generates the unsigned transaction, and the client signs it securely
- [Earn Deposit with the SDK](https://kamino.com/docs/build/recipes/earn/earn-via-sdk.md): Deposit to vaults using TypeScript SDK
- [Earn Withdraw with the SDK](https://kamino.com/docs/build/recipes/earn/earn-withdraw-via-sdk.md): Withdraw from vaults using TypeScript SDK
- [Earn Deposit from Privy Wallet](https://kamino.com/docs/build/recipes/earn/earn-with-privy.md): Use a Privy-managed wallet to perform secure Earn deposits
- [Withdraw to Privy Wallet and Check Balance](https://kamino.com/docs/build/recipes/earn/withdraw-with-privy.md): Use a Privy-managed wallet to perform secure Earn withdrawals and check USDC balance

#### Borrow
- [Get Market Reserve APYs](https://kamino.com/docs/build/recipes/borrow/get-market-reserve-apys.md): Fetch Kamino market reserve borrow and supply APY data using the API or SDK
- [Deposit with the API](https://kamino.com/docs/build/recipes/borrow/deposit-via-api.md): The API generates the unsigned transaction, and the client signs it securely
- [Borrow with the API](https://kamino.com/docs/build/recipes/borrow/borrow-via-api.md): The API generates the unsigned transaction, and the client signs it securely
- [Repay with the API](https://kamino.com/docs/build/recipes/borrow/repay-via-api.md): The API generates the unsigned transaction, and the client signs it securely
- [Withdraw via the API](https://kamino.com/docs/build/recipes/borrow/withdraw-via-api.md): The API generates the unsigned transaction, and the client signs it securely

### Kamino CLI

#### Kamino Manager CLI
- [Overview](https://kamino.com/docs/build/cli.md): Command line tool to manage Kamino Lend markets, reserves, and vaults
- [Install and Setup the Kamino CLI](https://kamino.com/docs/build/cli/installation-setup.md): Get started with the Kamino Manager CLI
- [Market Operations](https://kamino.com/docs/build/cli/market-operations.md): kamino-manager CLI command reference for market and reserve operations
- [Vault Operations](https://kamino.com/docs/build/cli/vault-operations.md): Create and manage Kamino vaults

## Curators

Documentation for operators creating and managing lending vaults and markets on Kamino.

### Introduction

#### Introduction
- [Curators](https://kamino.com/docs/curators.md): Create and manage lending vaults and markets on Kamino

### Vaults

#### Vaults
- [Vaults](https://kamino.com/docs/curators/vaults.md): B2B lending infrastructure on Kamino, deploy a vault, allocate capital across reserves, and manage exposure

#### Concepts
- [How vaults work](https://kamino.com/docs/curators/vaults/concepts/how-vaults-work.md): The vault primitive: share tokens, allocation, the depositor flow, and the curator's role
- [Allocations](https://kamino.com/docs/curators/vaults/concepts/allocations.md): How vault capital is distributed across reserves, Standard vs. Conditional, weights, caps, priority, and the rebalancing model
- [Liquidity & withdrawals](https://kamino.com/docs/curators/vaults/concepts/liquidity-and-withdrawals.md): The unallocated buffer, instant withdrawals, and the withdrawal queue, how depositor exits actually work
- [Yield & fees](https://kamino.com/docs/curators/vaults/concepts/yield-and-fees.md): How vault yield is generated, the manager fee model, the withdrawal penalty, and farm reward distribution
- [Roles & ownership](https://kamino.com/docs/curators/vaults/concepts/roles-and-ownership.md): Vault admin types, the multisig model, and the Squads-based execution flow
- [Risk primitives](https://kamino.com/docs/curators/vaults/concepts/risk-primitives.md): The Insurance Pool and Whitelisted Reserves, the two on-chain protections you offer depositors
- [Permissioned vaults](https://kamino.com/docs/curators/vaults/concepts/permissioned-vaults.md): Gate vault deposits behind a per-user, per-action allowlist enforced on-chain by the kperm program

#### Guides
- [Create a vault](https://kamino.com/docs/curators/vaults/guides/create-a-vault.md): Deploy a new Kamino vault, UI walkthrough plus SDK and CLI alternatives, with a complete post-creation checklist
- [Transfer admin to multisig](https://kamino.com/docs/curators/vaults/guides/transfer-admin.md): Move your vault to Squads multisig control, required before going to production
- [Configure allocations](https://kamino.com/docs/curators/vaults/guides/configure-allocations.md): Add, edit, and remove reserve allocations on a vault, UI, SDK, and CLI
- [Configure fixed-rate allocations](https://kamino.com/docs/curators/vaults/guides/configure-fixed-rate-allocations.md): Add and manage allocations into fixed-rate reserves, UI, SDK, and CLI walkthroughs with FR-specific parameter choices
- [Enable Whitelisted Reserves](https://kamino.com/docs/curators/vaults/guides/enable-whitelisted-reserves.md): Restrict your vault to allocate only into Kamino-verified reserves at the smart contract level
- [Set up the Insurance Pool](https://kamino.com/docs/curators/vaults/guides/set-up-insurance-pool.md): Configure the loss backstop, deposit your skin-in-the-game capital, and trigger the Kamino match
- [Enable permissioning](https://kamino.com/docs/curators/vaults/guides/enable-permissioning.md): Switch your vault into permissioned mode and manage the depositor allowlist via the kperm program
- [Collect fees](https://kamino.com/docs/curators/vaults/guides/collect-fees.md): Withdraw pending performance and AUM fees, give fees back to depositors, and update fee rates
- [Configure farms](https://kamino.com/docs/curators/vaults/guides/configure-farms.md): Post-creation farm setup, only needed if your vault was created without farms

#### Fixed Rates
- [Fixed Rates](https://kamino.com/docs/curators/vaults/fixed-rates.md): Allocating vault capital into fixed-rate reserves, the FR-specific guide for curators
- [Concepts](https://kamino.com/docs/curators/vaults/fixed-rates/concepts.md): The rate grid, term premium, and how borrowers consume fixed-rate liquidity
- [Allocations](https://kamino.com/docs/curators/vaults/fixed-rates/allocations.md): Standard vs. Conditional allocation applied to fixed-rate reserves, the FR-specific application of the allocation primitive
- [Lifecycle](https://kamino.com/docs/curators/vaults/fixed-rates/lifecycle.md): What your vault's capital experiences from fill through term, rollover, repayment, post-maturity liquidation, and exits via the withdrawal queue
- [Strategy](https://kamino.com/docs/curators/vaults/fixed-rates/strategy.md): Allocation postures, sizing framework, monitoring cadence, and a worked vault example

#### Data & API
- [Vault Data](https://kamino.com/docs/curators/data/vault-data.md): Query vault details, metrics, holdings, and historical performance
- [Allocation Data](https://kamino.com/docs/curators/data/allocation-data.md): Query current allocations, weights, and historical allocation changes
- [Depositor & Position Data](https://kamino.com/docs/curators/data/depositor-data.md): Query depositor positions, P&L, transaction history, and metrics
- [Rewards Data](https://kamino.com/docs/curators/data/rewards-data.md): Query vault rewards, incentive programs, and reward APY data

#### Reference
- [Vault parameters](https://kamino.com/docs/curators/reference/parameters.md): Complete parameter reference for vault config, allocations, and farms
- [Glossary](https://kamino.com/docs/curators/reference/glossary.md): One-line definitions for every term used in the curator vault docs

### Markets

#### Get started
- [Curator Markets](https://kamino.com/docs/curators/markets.md): Deploy and operate isolated lending markets on Kamino
- [Lifecycle Overview](https://kamino.com/docs/curators/markets/lifecycle.md): The full path from market creation to day-2 operations
- [Quickstart](https://kamino.com/docs/curators/markets/quickstart.md): Stand up a working market on staging in ~10 minutes

#### Market setup
- [Create a Market](https://kamino.com/docs/curators/markets/creating-a-market.md): Initialize a new Kamino lending market
- [Market Settings](https://kamino.com/docs/curators/markets/market-settings.md): Configure market-level parameters: name, fees, flags, and global thresholds
- [Transfer Ownership to a Multisig](https://kamino.com/docs/curators/markets/transfer-to-multisig.md): Move market ownership from a hot wallet to a Squads multisig

#### Reserve setup
- [Add Reserves](https://kamino.com/docs/curators/markets/adding-reserves.md): Add token reserves to your market
- [Configure Oracles](https://kamino.com/docs/curators/markets/configuring-oracles.md): Wire each reserve to a price feed with the right TWAP and staleness guards
- [Scope Oracle Types](https://kamino.com/docs/curators/markets/scope-oracle-types.md): Specialized Scope oracle entry types for fixed-income, multi-source, pegged, and LST assets
- [Risk Parameters](https://kamino.com/docs/curators/markets/risk-parameters.md): Choose LTV, liquidation thresholds, IR curves, caps, and borrow factors for a reserve
- [Withdrawal Caps](https://kamino.com/docs/curators/markets/withdrawal-caps.md): Throttle deposits, withdrawals, and debt activity on a per-reserve, per-interval basis
- [Farms & Rewards](https://kamino.com/docs/curators/markets/farms-and-rewards.md): Initialize collateral and debt farms on reserves, fund emissions, claim rewards
- [Fixed Rate Reserves](https://kamino.com/docs/curators/markets/fixed-rate-reserves.md): Reserves with a host fixed rate, debt maturity, rollover windows, and early-repay penalties

#### Optional features
- [Liquidations](https://kamino.com/docs/curators/markets/liquidations.md): Configure liquidation thresholds, close factors, bonuses, and bad-debt handling
- [Withdrawal Queue](https://kamino.com/docs/curators/markets/withdrawal-queue.md): FIFO redemption mechanism for reserves at high utilization
- [Borrow Orders](https://kamino.com/docs/curators/markets/borrow-orders.md): Peer-to-peer fixed-rate matching between borrowers and lenders
- [Obligation Orders](https://kamino.com/docs/curators/markets/obligation-orders.md): Price-triggered self-deleverage for borrower positions
- [Auto-Deleverage](https://kamino.com/docs/curators/markets/auto-deleverage.md): Margin-call grace window with a ramped liquidation bonus over time
- [Elevation Groups (eMode)](https://kamino.com/docs/curators/markets/elevation-groups.md): Configure relaxed risk parameters for correlated assets
- [Permissioned Markets](https://kamino.com/docs/curators/markets/permissioned-markets.md): Gate specific market actions behind a per-user, per-action allowlist enforced on-chain by the kperm program

#### Day-2 operations
- [Updating Reserves](https://kamino.com/docs/curators/markets/reserve-management.md): Edit reserve configurations after launch: parameters, caps, status, oracles

##### Fixed Rates
- [Fixed Rates](https://kamino.com/docs/curators/markets/fixed-rates.md): Creating and configuring fixed-rate reserves and the market-level settings that govern them
- [Reserve Configuration](https://kamino.com/docs/curators/markets/fixed-rates/reserve-configuration.md): Anatomy of a fixed-rate reserve and how to create one
- [Market Settings](https://kamino.com/docs/curators/markets/fixed-rates/market-settings.md): Feature flags, rollover windows, and the post-maturity liquidation throttle
- [Lifecycle Operations](https://kamino.com/docs/curators/markets/fixed-rates/lifecycle-operations.md): Updating an existing fixed-rate reserve, what can and cannot be changed, and sunsetting patterns
- [Risk Considerations](https://kamino.com/docs/curators/markets/fixed-rates/risk.md): Risks specific to running fixed-rate reserves and the parameters that mitigate them
- [Farms & Rewards](https://kamino.com/docs/curators/markets/farms-and-rewards.md): Initialize collateral and debt farms on reserves, fund emissions, claim rewards

#### Data & integration
- [Read Market Data](https://kamino.com/docs/curators/markets/market-data.md): Query market state, reserve metrics, historical data, and rewards via API and SDK
- [Programmatic Integration](https://kamino.com/docs/curators/markets/programmatic-integration.md): Where to go for SDK, API, and direct RPC integration with a Kamino market

#### Reference
- [Reserve Config Reference](https://kamino.com/docs/curators/markets/reserve-parameters.md): Every editable field on a Kamino reserve
- [Market Config Reference](https://kamino.com/docs/curators/markets/market-config-reference.md): Every editable field on the LendingMarket account
- [CLI Command Index](https://kamino.com/docs/curators/markets/cli-command-index.md): Quick lookup of every market-related kamino-manager CLI command
- [Glossary](https://kamino.com/docs/curators/markets/glossary.md): Definitions for terms used across Kamino Markets documentation

## Optional

- [REST API Reference](https://kamino.com/docs/build/api-reference): Full OpenAPI reference for all Kamino REST endpoints
- [TypeScript SDK](https://github.com/Kamino-Finance/klend-sdk): Kamino TypeScript SDK on GitHub
- [SDK Examples](https://github.com/Kamino-Finance/klend-sdk/tree/master/examples): Code examples for common SDK operations
- [Risk Dashboard](https://risk.kamino.finance): Live risk and analytics dashboard for Kamino protocol
- [Discord Support](https://discord.com/invite/kamino): Community support and developer questions