> ## Documentation Index
> Fetch the complete documentation index at: https://docs.getelyra.xyz/llms.txt
> Use this file to discover all available pages before exploring further.

# Lending, borrowing, and loop yield strategies on Kamino

> Supply collateral, borrow assets, and build looping yield strategies on Kamino through Elyra — with health factor warnings displayed before every action.

Kamino is a Solana lending protocol that Elyra integrates directly, letting you supply collateral, borrow assets, and create looping yield strategies through natural language. You do not need to navigate Kamino's interface or construct transactions manually — describe the operation, review the preview, and confirm.

## Supported operations

<Steps>
  <Step title="Supply">
    Deposit tokens as collateral to earn lending yield. Your deposited assets accrue interest continuously and remain available as collateral for borrowing.
  </Step>

  <Step title="Borrow">
    Take a loan against your deposited collateral. The amount you can borrow depends on the collateral factor of your deposited assets and your current health factor.
  </Step>

  <Step title="Loop">
    Recursively supply and borrow to amplify your yield exposure. For example: deposit USDC, borrow SOL, swap to USDC, deposit again. Elyra can build this sequence for you — but understand the liquidation risk before using it.
  </Step>
</Steps>

## Natural language examples

```text theme={null}
"Deposit 1000 USDC into Kamino"
→ Kamino supply 1000 USDC · Current APY: 8.2% · Health after: 3.4

"Borrow 200 SOL from Kamino"
→ Kamino borrow 200 SOL · Borrow APY: 5.1% · Health after: 2.1

"What's my Kamino health factor?"
→ Kamino health: 2.8 · Deposits: $1,000 USDC · Borrows: none
```

## Health factor

Kamino uses a health factor to measure how well-collateralized your position is. The formula weighs the value of your deposited collateral against the value of your outstanding borrows, adjusted by asset-specific collateral factors.

* **Health factor above 1.0** — your position is safe
* **Health factor approaching 1.0** — your position is at risk
* **Health factor below 1.0** — liquidation is triggered

Elyra shows your projected health factor before every supply, borrow, or loop action. If a requested action would bring your health factor below a safe threshold, Elyra warns you before you confirm.

```text theme={null}
"Borrow 500 SOL from Kamino"
→ Warning: this borrow would lower your health factor to 1.05.
   Recommended maximum borrow: 320 SOL (health factor: 1.40).
   Proceed anyway? [Yes / No]
```

## Checking your position

You can ask Elyra about your Kamino position at any time:

```text theme={null}
"Show my Kamino deposits"
→ Deposits: $1,000 USDC (8.2% APY)
   Borrows: none
   Health factor: 3.4

"Show all my DeFi positions"
→ Kamino: $1,000 USDC deposited · Health 3.4
   Meteora USDC-SOL AMM: $1,004 · Fees earned: $4.20
```

<Warning>
  Borrowing against collateral carries liquidation risk if the value of your collateral falls or the value of your borrow rises. Monitor your health factor regularly and set conservative loan-to-value ratios, especially during volatile market conditions. Looping strategies amplify both yield and liquidation risk — use them only if you understand the mechanics.
</Warning>