Kamino Launches Fixed-Rate Credit Product, Private Beta Live

The significance here is less the rate mechanism itself than Kamino's move toward a credit product, which implies underwriting and term structure rather than the pooled, floating-rate lending that has defined most DeFi money markets. Fixed rates matter most to borrowers who need cost certainty — treasury managers, market makers, and RWA issuers weighing onchain debt against traditional facilities. Whether the private beta's pricing holds once it opens, and how defaults or collateral shortfalls would be handled, are the open questions.