Coin Metrics is committed to building the crypto economy on a foundation of truth, providing authentic and accurate data with the highest standards of clarity and precision. With this mission in mind, we are proud to share our August edition of Movers and Shakers, the monthly resource aiming to bring more transparency and credibility to the rapidly evolving crypto space.
As new assets reach a certain degree of accessibility to investors, specifically as they achieve alignment with our Market Selection Framework and the Trusted Volume Framework, Coin Metrics uses its crypto expertise to describe the assets’ context of use. The following assets are expected to reach alignment this month:
Kamino (KMNO) is a decentralized lending protocol distributing liquidity to the Solana ecosystem through various products. Kamino initially released Automated Liquidity Vaults for users to provide liquidity to DEX pools. Vaults return yield earned from trading fees back to liquidity providers. Kamino kTokens represent vault positions and can be deposited in the Kamino Lend product. Both kTokens and Solana SPL-20 tokens can be supplied to lending vaults managed by institutional allocators to earn yield on borrower positions. Borrowers can select preferred vaults to access the best loan terms and reduce liquidation risks. KMNO tokens are staked to boost the amount of points earned to receive future KMNO tokens.
Spark Protocol (SPK) is a decentralized lending and savings protocol connected to the Sky Ecosystem aggregating yield opportunities. Spark offers savings vaults for users to deposit their stablecoins and earn yield from revenue generated by Sky treasury holdings. This Sky Savings Rate (SSR) currently accepts USDS and USDC to earn yield and the rate is set by Sky Governance. Spark also supports SparkLend, lending markets where lenders earn fees paid by borrowers. SPK tokens can be used to participate in governance for sentiment checks on protocol development or staked to earn Spark Points for future rewards.
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