Kamino Lend Receives Formal Verification from Osec
Kamino, a decentralized finance (DeFi) platform on Solana, announced that its lending feature, Kamino Lend, has been formally verified by Osec. This is the project’s fourth formal verification, strengthening its reputation for safety in Solana DeFi.
The verification process took six months. Osec engineers tested Kamino’s key functions: deposit, withdraw, borrow, and repay. They confirmed these functions work correctly and maintain system stability. Osec also verified that a user’s healthy position cannot become unsafe through any action.
Strong Security Measures and Transparency
This verification complements a previous one by Certora, which confirmed Kamino’s lending system operates correctly. Together, these verifications cover both the platform’s design and operation.
Since its launch in September 2022, Kamino has had no security incidents, bad debt, or hacks. The platform has undergone 18 security audits and uses open-source code available for public review.
On October 6, Kamino launched a $1.5 million bug bounty program with Immunefi. Security researchers can earn rewards up to 10% of affected funds. The highest payout can reach $1.5 million.
Partnership with Immunefi Enhances Security
Kamino ran self-hosted bug bounties for three years before partnering with Immunefi. This collaboration allows Kamino’s contracts to be tested by one of the largest global security researcher networks.
According to CoinMarketCap, Kamino Finance’s token is priced at $0.072693. Its 24-hour trading volume is $17.1 million, with a 1.42% decline in the past day.
Kamino’s ongoing security efforts highlight its commitment to user safety and trust in the Solana DeFi ecosystem.
