Kamino

Kamino Sentora PYUSD

Kamino Sentora PYUSD is a curated lending vault on Solana that deploys PayPal USD into Kamino's lending markets to generate yield. Yield comes from borrower interest payments and PYUSD growth incentives, managed by institutional vault curator Sentora.

AUM

$422.30m

APY

5.12%+863.15%

B-Rated Protocol

Updated Mar 10, 2026

Risk Rating

B-

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This rating is based solely on publicly available information. The range from B- to A+ reflects the gap between the current assessment and the potential rating achievable if all identified improvement areas are addressed.

SCS: Smart Contract Security

KMP: Key Management Permissions

M: Market

L: Liquidity

C: Collateral

PM: Protocol Mechanics

ICE: Infra Counterparty Exposures

PCE: Protocol Counterparty Exposures

G: Governance

FR: Financial Resilience

TLC: Team Legal Compliance

DT: Documentation Transparency

Potential Score

Provider risk assessed across Business, Operations, Reliability, and Security.

View the detailed scoring breakdown

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Contract Addresses

VaultContract

A2wsxh...E5BK

LendingPool

7u3HeH...5PfF

ScopeOracle

GzFgdR...kzkW

KLendProgram

KLend2...gmjD

AdminMultisig

6hhBGC...fQbM

Key Strengths

Extensive audit coverage from multiple firms including formal verification by Certora, with zero exploits across a 3+ year operating history
Active $1.5M bug bounty on Immunefi covering all core contracts with 17 assets in scope
Multi-oracle aggregation combining Pyth Network and Chainlink Data Streams with cross-verification and manipulation resistance
Native PYUSD on Solana via Token Extensions (not bridged), backed by Paxos with NYDFS regulation and monthly attestations
Institutional vault curator Sentora with $25M Series A funding and ex-Coinbase executive leadership
Cryptographically verifiable builds ensure deployed programs match audited source code

Key Risks

No documented timelock for contract upgrades; overnight contract change blocking Jupiter Lend demonstrates rapid unilateral modification capability
Multisig configuration undisclosed with fewer than 4 signers reported, signer identities and threshold unknown
KMNO voting power concentration exceeding 70% in top 10 wallets with on-chain governance not yet activated
Yield sustainability risk as PayPal PYUSD incentives taper, with vault TVL declining from peak as incentives waned
No dedicated safety module or ring-fenced backstop reserves for user loss compensation
Lending pool exit liquidity constrained by utilization, with bank-run scenario creating temporary queues
Vault share redemption behavior untested under severe stress comparable to proven protocols