Back to collectionBackpack Tokenized Equities Enter an Isolated Kamino Credit Market
Eligible holders can use four Backpack equity tokens as collateral to borrow USDC, with separate risk parameters and liquidation exposure for each asset.
Kamino said on October 29 that Backpack Securities tokens representing MU, SKHY, SPCX and SNDK are live as collateral in a new Backpack Market on Solana. Eligible holders can borrow USDC against the tokens while retaining exposure to the represented shares. Backpack says each token is backed one-to-one and can be redeemed by eligible account holders under its terms.
The market is isolated from Kamino’s other lending markets and assigns each collateral asset its own loan-to-value, liquidation and borrow-cap settings. Isolation does not remove smart-contract, oracle or liquidation risk, especially when the underlying equity market is closed. Kamino does not issue, custody or redeem the securities, and eligibility remains subject to Backpack and geographic restrictions.