Wu Shuo has learned from SolanaFloor that the Solana community has recently raised concerns about the risk disclosure of Jupiter Lend. Samyak Jain, co-founder of Fluid, admitted that Jupiter Lend’s vaults engage in rehypothecation to improve capital efficiency and are “not fully segregated.” Marius, co-founder of Kamino, pointed out that this contradicts Jupiter’s previous claims of “no risk contagion.” In practice, when users collateralize SOL to borrow USDC, their SOL is rehypothecated into loop positions including JupSOL, INF, and others. Users bear full exposure to any risk events involving these assets, and there is no so-called risk isolation. In this situation, Kamino cannot facilitate one-click migration, but users can still exit manually at any time. If the migration tool can support bidirectional use in the future and fully disclose risks, Kamino will lift the restriction.
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Wu Shuo has learned from SolanaFloor that the Solana community has recently raised concerns about the risk disclosure of Jupiter Lend. Samyak Jain, co-founder of Fluid, admitted that Jupiter Lend’s vaults engage in rehypothecation to improve capital efficiency and are “not fully segregated.” Marius, co-founder of Kamino, pointed out that this contradicts Jupiter’s previous claims of “no risk contagion.” In practice, when users collateralize SOL to borrow USDC, their SOL is rehypothecated into loop positions including JupSOL, INF, and others. Users bear full exposure to any risk events involving these assets, and there is no so-called risk isolation. In this situation, Kamino cannot facilitate one-click migration, but users can still exit manually at any time. If the migration tool can support bidirectional use in the future and fully disclose risks, Kamino will lift the restriction.