Kamino Airdrop 2026: Season 6 Status, Season 5 KMNO Claim

Kamino airdrop claim: what you’re owed now

If you never claimed your Season 4 or Season 5 KMNO, you’re owed your full allocation plus a share of the Final Vesting Pool. Both vesting periods are 100% complete, and Kamino hasn’t published a claim deadline for either season.

Claiming early carried a penalty that shrank exponentially, so the earlier you claimed, the more you gave up. Whatever you forfeited went into the pool and was shared out among everyone who waited. Season 5’s pool finished at 1,966,858.23 KMNO and Season 4’s at 4,650,720.12 KMNO. No published deadline isn’t a promise the claim stays open forever, so I’d claim now rather than leave it sitting there.

There’s no Season 6 claim page anywhere. Any site, DM or reply offering one is a scam, usually a wallet drainer. Kamino doesn’t DM you, and the docs now live at kamino.com/docs. Type the address yourself rather than clicking links under posts. Our guide to spotting airdrop scams covers the drainer tricks.

Is there a Kamino Season 6?

No new Kamino Finance airdrop season has been announced as of 11 October 2026. The rewards page has a Season 5 tab and a Season 4 tab, nothing else. Since Season 5 ended, the governance forum has posted a risk analysis of the February crash and monthly risk reports, and nothing about a new season. Kamino’s roadmap post, The Next Chapter, is all products: fixed-rate borrowing, private credit, an RWA DEX, and no points.

What replaced seasons is short reward pots on single markets, run with partners:

• PAXG market: $100,000 in USDG borrow rewards over three months from 8 October 2026, so it runs to about early January 2027. It’s run with Steakhouse Financial and Global Dollar. You put up PAXG (tokenised gold) as collateral and borrow USDG, Global Dollar’s stablecoin. Whether the reward beats the borrow rate is the maths our Jupiter Lend vs Kamino comparison works through.
• sUSDai market: $75K over two months from 24 September 2026 for USDC suppliers and borrowers, so it runs to about late November. sUSDai is a yield-bearing dollar you can supply to borrow USDC, or loop.

Neither is a points programme or builds towards a token airdrop. USDG and sUSDai both come up in our stablecoin yields roundup, which also sorts rates across protocols by risk.

The Earn page still has an “Include KMNO Rewards in APY” toggle, but on 11 October 2026 Kamino’s own vault rewards data listed no KMNO rewards on any Earn vault. The toggle is a leftover from the seasons.

A real Season 6 would show up on Kamino’s X account, on the forum and as a new tab on the rewards page. Eight months with no season and a roadmap built around institutions and fixed rates doesn’t read like a team about to restart points, to me anyway. I wouldn’t park money on Kamino just to be early for a season nobody has announced.

Kamino seasons so far: Genesis to Season 5

Seasons 4 and 5 swapped points for KMNO that accrued in real time, with a boost if you staked KMNO. A new season came every few months, then nothing after Season 5.

What Kamino Finance is now, with no season running

Kamino is a lending app first: about $2.43B in its markets and roughly $950M borrowed as of 11 October 2026. Here’s what’s on kamino.com today:

• Earn: 33 curated lending vaults. A curator is the firm that decides where a vault lends your deposit, such as Steakhouse, Gauntlet, Sentora, RockawayX or Allez Labs. Each vault is tagged Conservative, Balanced or Aggressive.
• Borrow: variable or fixed rates, plus borrow orders that fill when liquidity turns up.
• Multiply: a one-click loop that borrows against your deposit and redeposits it. SOL loops use liquid staking tokens (staked SOL you can still use elsewhere). The big banner right now is AUTO fixed-rate Multiply, shown at up to about 23.5% on 11 October. AUTO is an RWA (a real-world asset token, here paid from consumer auto loans, issued by Hastra), looped with a 30-day fixed borrow rate that rolls over. There’s a similar fixed-rate loop for ONyc, which our OnRe guide explains.
• Liquidity: automated concentrated liquidity vaults on Solana DEX pools. You deposit and the vault manages the range. I LP on Meteora DLMM myself, so I’d rather set my own ranges on DLMM. It’s a job though, and these vaults are for people who don’t want it.
• Swap: routes trades across 15+ venues, with zero-fee limit orders.
• Institutional Yield: vaults lending to institutional borrowers, for commodity trade finance or digital assets.

I’ve left rates out on purpose because they move daily. If lending apps are new to you, DeFi on Solana covers how they fit together.

Kamino fees and the risks behind the APY

The fees are simple:

• No deposit, withdrawal or origination fee. You only pay Solana network fees.
• Kamino keeps a cut of the interest borrowers pay: 11% on SOL, 15% on USDC and USDT in the main market, 20% on USDC in the JLP and altcoin markets. So if borrowers pay 10% on USDC in the main market, 8.5 of those 10 points go to lenders.
• Earn vault APYs are shown after the curator’s performance and AUM fees, so the number you see is already net.

The risks are where people get hurt. Curators move a vault’s allocations without any governance vote, so you’re trusting their judgement. Withdrawals can wait: utilisation is how much of a vault is lent out, and vaults keep only a 5-10% unallocated buffer for instant withdrawals. Past that, if utilisation is high, you wait for borrowers to repay or new deposits to come in. If borrowers leave bad debt in a reserve, vault depositors absorb it in proportion to how much their vault lent there.

Multiply adds liquidation. LTV is your loan as a share of your collateral, and once it passes the market’s liquidation threshold, your position gets sold off in chunks with a penalty. SOL LST loops carry little SOL price risk because both sides move together, but an LST that genuinely depegs from SOL can still liquidate you. So can negative carry: when the borrow rate sits above your staking yield, you’re paying to hold the loop and your LTV creeps up every day. Our lending and borrowing basics cover safe LTV buffers.

RWA markets like AUTO, PAXG and sUSDai are only as good as the company behind the token, and a loop magnifies that. I wouldn’t loop an RWA I couldn’t explain to a mate.

The real test came on 5 and 6 February 2026, when SOL fell 18% and ETH 15%. About $19.4M of collateral was liquidated and Kamino says lenders took zero bad debt. The system worked, but that doesn’t help you if you were the one looped. The site advertises 20 audits and formal verification, which is good to have, but audits don’t stop a curator’s bad call or an RWA issuer failing.

Should you still bother with Kamino?

If you hold stablecoins and want someone else choosing where they’re lent, a Conservative curated vault with a small test deposit first is a reasonable way in. If you hold a SOL LST and fancy Multiply, only do it if you’ll actually watch the borrow rate against your staking yield.

If you came for the airdrop, there’s nothing to farm here, and our live airdrops list is a better use of your time, and our Solana airdrops guide explains how to farm the live ones. For a stablecoin points season that’s running now, Solstice Season 3 Flares run until 1 December 2026. Loopscale’s points still accrue until they convert later this year after its merger with Orca, and our Loopscale walkthrough has the details.

Your first Kamino Earn deposit

You need a Solana wallet holding USDC (the simplest choice) plus a little SOL for fees. No wallet yet? Create a Solana wallet first. Phantom, Solflare or Backpack all work for this. Solflare is my pick these days, and Phantom has fallen off and feels slower to me now.

1. Open Kamino Earn and use the token filter (All Vaults, USD, SOL, Euro) to show your token. Each row shows the vault, curator, APY, deposits and its Vault Profile. For a first deposit I’d stick to Conservative from a curator you recognise. On 11 October 2026 the Conservative USDC options were Steakhouse USDC and Gauntlet USDC Prime.

1. Open the vault before you deposit. Check the curator, the allocation (which lending reserves your money is spread across) and the available liquidity, which is how much can be withdrawn right now. A vault that’s almost fully lent out is the one where withdrawals wait.

1. Enter a small amount, click Deposit and confirm in your wallet. You don’t get paid out: you get vault shares, and each share grows in value as the vault earns.
2. Withdraw part of it and make sure it lands back in your wallet. Only then add more, and do the same on any new vault.

KMNO token today: supply, staking and trading

KMNO has a fixed 10 billion supply: 35% community and grants, 35% key stakeholders and advisors, 20% core contributors, 10% liquidity and treasury. The 7.5% genesis airdrop came out of the community share. It’s a normal Solana token, so you can swap it on Kamino’s own Swap page or any Solana aggregator.

Staking has quietly gone from the menu: kamino.com/stake now redirects to Borrow, and with no season running the boost has nothing left to boost. Old stakes still show under Portfolio in the KMNO Staking tab. Kamino said in 2024 that auto-staked claims could be unstaked with no cooldown, but its current docs don’t cover unstaking, so if you don’t see the option, ask in the official Discord (linked in the kamino.com footer).

FAQ

When is the next Kamino airdrop?

There’s no date. Kamino hasn’t announced a Season 6 as of 11 October 2026, and anything offering a “Season 6 claim” is a scam.

Can I still claim my Kamino Season 5 airdrop?

Yes, if you never claimed it. Connect the wallet you farmed with on kamino.com/season5. Vesting ended on 7 August 2026, so you get the full amount plus your pool share.

Can I still claim Season 4 KMNO?

Yes, if you never claimed it: it’s the Season 4 tab on the same rewards page. Season 4 vesting ended on 12 May 2026 and Kamino hasn’t published a deadline.

Can I still claim Kamino Season 3 KMNO?

Not from the current rewards page, which only has Season 5 and Season 4 tabs. Season 3 claims opened in 2025 on the old app.kamino.finance site, and Kamino hasn’t said whether unclaimed Season 3 KMNO can still be collected, so ask in the official Discord, never in DMs. If you claimed and it was staked, look in Portfolio under KMNO Staking.

I claimed early. Can I get the rest back?

No. The part you forfeited went into the Final Vesting Pool and was shared out among people who waited the full six months.

What happened to app.kamino.finance?

It moved. The old app address and docs.kamino.finance both redirect to kamino.com now, so bookmark kamino.com and ignore lookalike domains.

Is Kamino safe?

It came through the February 2026 crash with no bad debt to lenders. Curator calls, withdrawal waits, liquidations and RWA issuers are still real risks, so start small and test a withdrawal.

Jupiter Lend or Kamino: which is better?

Kamino gives you named curators running vaults from Conservative to Aggressive, plus fixed-rate borrowing. Which one pays more changes daily, so compare live rates on both before moving money; our Jupiter Lend vs Kamino page tracks them.