Kamino Finance vs Maple Finance: Quick Compare (2026)
Kamino Finance is a lending platform rated 9.2/10 with $2.19B TVL, best for Lending, LST collateral, leveraged staking. Maple Finance is a lending platform rated 8/10 with $1.60B TVL, best for Earning stable yield from institutional borrowers with professional credit underwriting.
Need a deeper breakdown? Use editorial comparison pages and full platform reviews before you decide.
Head-to-Head Comparison
| Feature | Kamino Finance | Maple Finance |
|---|---|---|
| Rating | 9.2/10 | 8/10 |
| TVL | $2.19B | $1.60B |
| APY | 15–30% | 4-8% |
| Best for | Lending, LST collateral, leveraged staking | Earning stable yield from institutional borrowers with professional credit underwriting |
| Not best for | Not ideal for users who want simple, passive staking — Kamino's Multiply and leveraged strategies carry liquidation risk. Users who don't monitor positions actively can lose capital during rapid SOL price drops. | Not ideal for users who want fully permissionless, trustless lending. Some pools require KYC, and Maple relies on underwriter judgment rather than pure overcollateralization. If you want maximum composability and no KYC, use Kamino or MarginFi. |
| Founded | 2022 | 2021 |
Fees Comparison
Kamino Finance Fees
| Fee | Value |
|---|---|
| Lending spread | ~0.5-1% |
| Multiply fee | 0.1% |
| Vault management fee | 10% of yields |
| Withdrawal fee | None |
Maple Finance Fees
| Fee | Value |
|---|---|
Pros & Cons
Kamino Finance
Pros
- #1 Solana lending protocol by TVL ($2.19B)
- Multiply: leverage JitoSOL/mSOL up to 3x
- Auto-managed CLMM vaults with auto-compounding
Cons
- Complex product surface area
- Multiply positions carry liquidation risk
Maple Finance
Pros
- $1.6B TVL — one of the largest institutional lending protocols in DeFi
- Institutional borrowers with professional credit underwriting reduce default risk vs DeFi-native lending
- Competitive USDC/USDT yields of 4-8% APY with lower volatility than DeFi farming
Cons
- Some pools require KYC — limited permissionless access compared to Kamino or MarginFi
- Less composable than DeFi-native lending — can't easily use LP tokens as collateral elsewhere
- Previous v1 credit losses during FTX collapse — historical default events
When to Choose Kamino Finance
Best for: Lending, LST collateral, leveraged staking
Honest limitation: Kamino's $2.19B TVL makes it systemically important to Solana DeFi, which means a Kamino exploit would have cascading effects. The Multiply product uses leveraged positions that amplify both gains and losses.
When to Choose Maple Finance
Best for: Earning stable yield from institutional borrowers with professional credit underwriting
Honest limitation: Maple suffered significant defaults in 2022 during FTX/Alameda collapse. V2 has stronger underwriting, but institutional lending inherently carries credit risk that DeFi overcollateralized lending doesn't.