Kamino is also expanding into the institutional lending market, which is likely to be a key driver for the second wave of growth in DeFi lending. Both Aave and Sky are making moves in this direction, so when it comes to Solana funds, Kamino is basically the only option. Kamino is introducing an off-chain collateral solution. Borrowers deposit funds into Anchorage (a qualified custodian), then partner with Chainlink to build an API that monitors the amount of locked collateral and generates a mirrored token. This token can then be used as collateral for lending on Kamino. The current pilot project is with Solana Company, backed by Pantera. In the future, we should see more institutional funds quickly integrating into on-chain liquidity. Even in a bear market, DeFi still has opportunities for growth. Slow is fast.