Summary

  • Kamino launched the Backpack Market on Solana on October 28 2026 as an isolated lending pool for USDC loans backed by tokenized equities.
  • Eligible users can deposit Backpack Securities tokens representing 1:1 backed shares in companies such as SpaceX, Micron, SK Hynix, and SanDisk.
  • Solana DeFi TVL reached $5.341 billion as of October 30 2026 while overall DeFi TVL stood at $83.6 billion.

Kamino Finance opened the Backpack Market on Solana on October 28 2026. Eligible users borrow USDC against tokenized equity collateral from Backpack Securities. They do so in an isolated pool. The launch marks the first direct integration of regulated U.S. stock-backed tokens into Solana lending.

The move arrives as tokenized asset adoption grows. Solana DeFi activity expands too. It gives holders of these tokens a new way to access liquidity without selling their positions.

Context

Tokenized equities from Backpack Securities are backed 1:1 by underlying shares held through regulated U.S. broker-dealers. This structure keeps collateral values tied to real-world stock performance. It operates inside DeFi protocols.

Solana DeFi has drawn increasing attention. Low fees and fast settlement help. The Kamino Backpack Market adds another use case that links traditional equity exposure to on-chain borrowing.

Details

Kamino opened the Backpack Market on Solana on October 28 2026. Eligible users deposit tokenized equities and borrow USDC against them. The market operates as an isolated pool. This limits contagion risk to other Kamino lending venues.

"Kamino opened the Backpack Market on Solana on October 28 2026."

, Kamino Finance

The integration supports tokenized equity collateral from multiple issuers. These include shares in SpaceX, Micron, SK Hynix, and SanDisk. Borrowers must maintain sufficient collateral ratios. They avoid liquidation if stock prices move sharply.

Solana DeFi TVL stood at $5.341 billion on October 30 2026. The new market launched with $1.5 million in initial liquidity.

Isolated lending markets carry liquidation risks if collateral values fluctuate sharply. Users must monitor equity price movements. They also watch token supply and borrow rates.

Outlook

Kamino will continue to expand supported collateral types. The broader market tracks adoption metrics for tokenized equity collateral on Solana.