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Aave Co-founder Accuses Kamino of 'Mimicking' Aave, Prompting Solana Co-founder's Rebuttal

2025.02.12 11:25:39

On February 12th, according to a Bloomberg report, Aave's leading position in the DeFi lending field appears to be facing intense competition. According to data compiled by Token Terminal, since January 2024, the Solana-based DeFi project Kamino has seen a 1,368% net deposit growth. During the same period, Morpho has witnessed a 214% net deposit growth. Meanwhile, Aave's net deposit growth rate is approximately 213%. This week, Aave founder Stani Kulechov criticized Kamino on Twitter, referring to the project as an "imitator" of Aave's "old tech" with a "half-baked" user interface. His post triggered rebuttals from Solana community members, including Solana co-founder Anatoly Yakovenko, who believe that Kamino is superior. Another early member of Aave's development team, Marc Zeller, has also been critical of how other DeFi projects handle issues. Despite Kulechov's criticism of Kamino, he admitted on a recent podcast, "Overall, the more developers on-chain, the better. It doesn't matter where they start or end. If Solana has more developers building resilient, secure, and collateralized DeFi, I'm happy."
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