DeFi fund outflow spreads to Solana, draining Kamino's USDC liquidity

The DeFi fund outflow that began after the KelpDAO rsETH bridge hack has now spread to the Solana ecosystem, Wu Blockchain reported. The report noted a surge in both deposit APY and utilization rates across the USDC pools of Kamino (KMNO), a Solana-based automated liquidity management protocol. Notably, the Prime Market USDC pool, valued at approximately $178 million, has reached 100% utilization, completely depleting its available liquidity. Utilization rates for other major vaults, including the Stakehouse USDC vault and the LockawayX RWA USDC vault, have also surpassed 95%.