Galaxy brings its institutional risk framework to Kamino, as on-chain yields begin to compete on “who manages risk best.” On September 17, Galaxy Curation launched two institutional-grade lending vaults on Kamino—USDC and USDT—introducing part of the risk framework it uses to serve over 1,700 institutions with an average loan book of approximately $1.4 billion onto Solana. ① Galaxy manages collateral standards, exposure limits, and market monitoring; Kamino provides the vault infrastructure and lending protocols. ② The USDT vault is positioned more conservatively, while the USDC vault pursues higher yields through a broader range of collateral. ③ “Institutional management” does not equal principal protection—market, smart contract, liquidity, and allocation risks still apply. ④ Integration with https://t.co/jZuz89XSOM will expand distribution but also increase responsibility for product tiering and risk disclosure. My own view: The DeFi yield competition is shifting from simply comparing APYs to comparing managers, asset standards, and risk discipline. This is the language institutional capital truly cares about. NFA / DYOR @Solana_zh @solana @galaxyhq @KaminoFinance @yield_xyz