Reference
Fees and rates
What it costs to borrow and to swap, and who receives it.
Borrowing
| Cost | Paid to | Amount |
|---|---|---|
| Lendly fee (once, per borrow) | Lendly | 1% of the USDC you borrow, taken from the amount you receive |
| Interest on your debt | Kamino’s lenders and protocol | Variable APY, shown live in the app |
| Liquidation bonus, if liquidated | The liquidator | Set by Kamino per asset |
| Loan account rent (once) | Solana, held in your account | Roughly 0.025–0.03 SOL |
| Network fees | Solana validators | A fraction of a cent per transaction |
How the Lendly fee works. When you borrow, Lendly’s fee is part of the same transaction: Kamino lends you the full amount, and 1% of it is transferred to Lendly in that same transaction. Borrow 1,000 USDC and you owe 1,000 USDC (plus interest) and receive 990 USDC. The fee and the amount you receive are shown before you sign, and your wallet shows the transfer too.
Deposits, repayments and withdrawals have no Lendly fee.
Swapping
Swaps are routed by Jupiter at the best price it can find. The quote you see includes everything: price impact, the route, and any platform fee. Lendly may charge a small platform fee on swaps; when it does, it is part of the quote before you sign.
Where the rate comes from
The borrow rate is set by Kamino’s market from its utilization — the share of the pool’s USDC that is lent out. When utilization rises, the rate rises to attract lenders and encourage repayment; when it falls, the rate falls. Your loan pays the current rate, every second, for as long as it is open.