Looked closely and realized it was Cheryl Chan, the Strategy Director of @Kamino, whom I had met offline before. @cheryldchan Her English and presentation skills are top-notch—no wonder she was once a partner at Dragonfly. Dragonfly has been one of the best-performing funds over the past two years, with most of their investments being early-stage and having a high success rate. This time, Kamino has launched a new mechanism: for the first time, institutional clients can conduct on-chain lending directly on Solana without moving their assets out of a compliant custody system. They’re also introducing features like fixed interest rates, which not only stabilize funding costs but also provide foundational conditions for large-scale capital participation—a big win for the Solana ecosystem. Institutional funds can now: Earn staking rewards + gain access to lending and liquidity at the same time. This is a major breakthrough for institutions, as previously, participating in Solana DeFi often required moving assets out of custody, which posed significant compliance and security risks. Without a doubt, Kamino is already a critical infrastructure protocol in the Solana ecosystem.