Jupiter Lend has cemented its position as Solana’s largest lending protocol by deposits, reporting an all-time high of $2.6 billion as of October 7, 2026. Blockworks data showed Jupiter at roughly $2.604 billion on October 6, narrowly ahead of Kamino’s $2.578 billion, according to a post by Sam Schubert.
The platform, which opened publicly in August 2025, also leads in outstanding loans with about $1.07 billion versus Kamino’s $982 million. Institutional vaults managed by Bitwise and Sentora account for more than $626 million of Jupiter Lend deposits, making them a critical liquidity source. DeFiLlama tracks roughly $2.85 billion in total value locked across Solana lending protocols, with Jupiter and Kamino representing the overwhelming majority.
Kamino remains competitive on lender economics: depositors earned more than $4.2 million in interest during September, compared with about $3.7 million for Jupiter Lend. Project 0’s April integration brought Jupiter deposits into its unified margin system, giving access to 98% of Solana lending TVL across Jupiter, Kamino and Drift.
The broader Solana DeFi credit market is also expanding. On October 7, Orca and Loopscale announced a merger under the Formation name, combining trading and liquidity infrastructure with credit and vault products, setting up further competition in the sector.
