ChainCatcher news, according to The Block, PayPal's stablecoin PYUSD has been losing market share since it reached a market cap of over $1 billion at the end of August (when it was the fourth largest stablecoin). The current market cap of the token is $618 million, a decline of 40% over the past month and a half. The Solana-based PYUSD now has a market cap of approximately $267 million, down from the over $600 million peak it reached in August. Meanwhile, over $350 million worth of PYUSD tokens are circulating on Ethereum.The growth of this stablecoin has largely been attributed to PayPal's partnership with the Solana lending market Kamino Finance, which agreed to pay high yields subsidized by the payments giant to PYUSD holders. In recent weeks, the yield on PYUSD deposits on the lending protocol Kamino has dropped from around 17% to below 7%. The Solana-based protocols Drift and Marginfi, which also offered double-digit annualized rewards to PYUSD holders, have also been impacted. However, this trend may reverse. On Tuesday, Kamino added PYUSD to its "meme coin market," allowing users to borrow against positions in meme coins like WIF, POPCAT, and BONK. This arrangement will provide an additional $10,000 in PYUSD rewards to depositors each week. In contrast, lenders of PYUSD on the Ethereum-based decentralized exchange Aave are currently earning about 4.3%.During a similar six-week period, the market caps of the two major stablecoins USDT and USDC have remained relatively stable. Since August 31, Tether's stablecoin market cap has increased by $1 billion, while Circle's token market cap first increased by $2 billion and then decreased by $2 billion.

ChainCatcher news, according to RootData, the Kamino Finance token (KMNO) has increased by 16.55% in the last 24 hours, currently priced at $0.051.Additionally, the Web3 asset data platform RootData shows that Kamino is an automated liquidity solution based on the Concentrated Liquidity Market Maker (CLMM) mechanism. Liquidity providers (LPs) seeking to improve capital efficiency can utilize Kamino's automated market-making vault to enhance the expected yield of fees and returns. Kamino is incubated by Hubble Protocol.

ChainCatcher news, according to official information, the Solana ecosystem's composable automated liquidity management protocol Kamino Finance Foundation has announced the KMNO token economics. The total supply of KMNO is 10 billion tokens, with an expected initial circulating supply of 1 billion tokens, of which 750 million tokens will be initially distributed to the community. The TGE date is April 30, 2024. The KMNO token economics are as follows: community and grants:35% (including 7.5% for the genesis distribution);Liquidity and treasury: 10%;Core contributors: 20%;Key stakeholders and advisors: 35%.

ChainCatcher news, the Solana ecosystem's composable automated liquidity management protocol Kamino Finance announced on social media that it will conduct the first season snapshot of Kamino Points on March 31, and will calculate it in the April KMNO token genesis distribution.Kamino stated that the use cases for KMNO include controlling the protocol incentive program and revenue distribution, conducting protocol operations, and risk management, among others. The total supply of KMNO is 10 billion tokens, with an expected circulation of 10% on the first day. The initial community allocation of KMNO accounts for 7%. The second season of Kamino Points will begin in April and will continue to reward protocol participants.

ChainCatcher message, Kamino Finance has now integrated with the OKX Web3 wallet, allowing users to lend, provide LP, and engage in leveraged trading through the OKX Web3 wallet on Kamino Finance. Kamino Finance is an automated market-making solution in the Solana ecosystem, based on the centralized liquidity market maker (CLMM) mechanism, seeking to enhance capital efficiency for liquidity providers (LPs) who can utilize its automated market-making vault to improve fee and return expectations.The OKX Web3 wallet is an industry-leading one-stop Web3 gateway, now supporting over 85 public chains, with a unified experience across App, extension, and web, covering five major areas: wallet, DEX, DeFi, NFT marketplace, and DApp exploration, and supporting Ordinals marketplace, MPC and AA smart contract wallets, gas exchange, and hardware wallet connections.