According to Odaily, Kamino, a lending platform on Solana, has reported that it processed approximately $1.4 million in liquidations during the market turbulence in June, while the total amount of loans exceeded $600 million. In June, Kamino handled over 2,500 liquidations. Kamino's soft liquidation mechanism is designed to prevent borrowers from going bankrupt, with only about 20% of the user's collateral value being liquidated.
The largest liquidation in June involved collateral worth over $70,000. Most liquidations involved collateral worth less than $20,000. The total transaction fees paid by the liquidator, on the day of the largest loss, processed nearly 800 liquidations. The total transaction fee was approximately 0.26 SOL, equivalent to about $40.
The transaction fee for each liquidation in June was 0.001 SOL or lower for almost all transactions. This report highlights the resilience of the Kamino platform during a period of significant market volatility, demonstrating its ability to manage a high volume of transactions while minimizing the impact on borrowers.