Utilization rate (lending protocols)
Kamino Lend's assessment for RD-F-066 — scored yellow on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
Overall utilization 65.36% (data cache). SOL market 80–83% (gov reports). High SOL utilization creates liquidation capital scarcity risk in a rapid drawdown. Stablecoin markets ~58%.
Detail #
Data cache records utilization_rate_pct = 65.36% (overall, 2026-04-27). Feb 2026 governance report shows overall ~37% (lower because Feb 2026 was post-crash deleveraging period). Market-level utilization from governance reports: SOL markets 80.8–83.2% (historically), stablecoin markets 58.6–84%, Solstice fixed-rate 93% (Nov 2025), Maple 80%+. The elevated SOL-market utilization is the primary concern: at 80%+ utilization, available SOL liquidity for liquidators is thin. A rapid SOL price drop creates simultaneous liquidation demand (liquidators need SOL to repay) and low supply buffer. The April 2025 event (-21% SOL, $16M liquidated, zero bad debt) provides evidence the system managed this scenario at that scale, but Feb 2026 stress tests show elevated sensitivity.
Sources #
- GovernanceKamino Lend Monthly Risk Insights February 2026Feb 2026 Risk Report — overall 37%, Main 34.7%retrieved 2026-04-27
- 00-data-cache.jsonData cache — borrow.utilization_rate_pct = 65.36retrieved 2026-04-27
- Kamino Lend Monthly Risk Insights November 2025Nov 2025 Risk Report — SOL 80.8% utilization, stablecoin 58.6%retrieved 2026-04-27
Methodology #
Read the borrowed/supplied ratio per market; flag markets above 95% utilization as at-risk for withdrawal freeze.
See the full factor methodology and distribution across all protocols →