Kamino Lend instructions

Use these instructions when your strategy vault should interact with Kamino Lend. For direct Kamino Vault deposits and direct Kamino Farm staking, see Kamino Vault instructions and Kamino Farm instructions.

Transaction structure

Every Kamino Lend action goes through createVaultSyncTransaction.

import BN from "bn.js";
import {
  KaminoMarket,
  createVaultSyncTransaction,
  kaminoAction,
} from "@exponent-labs/exponent-sdk";
import {
  Transaction,
  sendAndConfirmTransaction,
} from "@solana/web3.js";

const { setupInstructions, preInstructions, instruction, postInstructions } =
  await createVaultSyncTransaction({
    instructions: [
      kaminoAction.deposit(KaminoMarket.MAIN, "USDC", new BN(100_000_000)),
    ],
    owner: vaultPda,
    connection,
    policyPda,
    vaultPda,
    signer: wallet.publicKey,
    vaultAddress,
  });

const tx = new Transaction().add(
  ...setupInstructions,
  ...preInstructions,
  instruction,
  ...postInstructions,
);
await sendAndConfirmTransaction(connection, tx, [wallet]);

Part	What it contains
`setupInstructions`	Setup instructions that must run before refreshes or the sync step
`preInstructions`	Permissionless refresh instructions that must run before the sync step
`instruction`	The Squads sync transaction instruction that wraps the vault-signed Kamino action
`postInstructions`	Permissionless refresh instructions that must run after the sync step

Kamino refresh instructions must stay top-level. Send the result in this order: setupInstructions, then preInstructions, then instruction, then postInstructions.

One-time setup

Before deposit, withdraw, borrow, or repay, the managed vault usually needs two Kamino Lending accounts.

Init user metadata

Creates the Kamino UserMetadata PDA for the managed vault owner.

kaminoAction.initUserMetadata(KaminoMarket.MAIN)

Init obligation

Creates the Kamino Obligation PDA for one lending market.

kaminoAction.initObligation(KaminoMarket.MAIN)

Both setup actions are safe to include before a lending action in the same createVaultSyncTransaction call.

Deposit

kaminoAction.deposit deposits the vault’s reserve token ATA into a Kamino reserve and receives reserve collateral inside the obligation.

import BN from "bn.js";
import {
  KaminoMarket,
  createVaultSyncTransaction,
  kaminoAction,
} from "@exponent-labs/exponent-sdk";
import {
  Transaction,
  sendAndConfirmTransaction,
} from "@solana/web3.js";

const { setupInstructions, preInstructions, instruction, postInstructions } =
  await createVaultSyncTransaction({
    instructions: [
      kaminoAction.deposit(KaminoMarket.MAIN, "USDC", new BN(100_000_000)),
    ],
    owner: vaultPda,
    connection,
    policyPda,
    vaultPda,
    signer: wallet.publicKey,
    vaultAddress,
  });

const tx = new Transaction().add(
  ...setupInstructions,
  ...preInstructions,
  instruction,
  ...postInstructions,
);
await sendAndConfirmTransaction(connection, tx, [wallet]);

Parameters

Parameter	Type	Description
`market`	`KaminoMarket`	Kamino lending market such as `KaminoMarket.MAIN`
`asset`	`string`	Reserve key from `KAMINO_RESERVES[market]`
`amount`	`BN`	Amount to deposit in native token units

A matching policy must exist before you execute the transaction. See Policy Builders.

Withdraw

kaminoAction.withdraw redeems reserve collateral back into the vault’s reserve token ATA.

const { setupInstructions, preInstructions, instruction, postInstructions } =
  await createVaultSyncTransaction({
    instructions: [
      kaminoAction.withdraw(KaminoMarket.MAIN, "USDC", new BN(50_000_000)),
    ],
    owner: vaultPda,
    connection,
    policyPda,
    vaultPda,
    signer: wallet.publicKey,
    vaultAddress,
  });

const tx = new Transaction().add(
  ...setupInstructions,
  ...preInstructions,
  instruction,
  ...postInstructions,
);
await sendAndConfirmTransaction(connection, tx, [wallet]);

Parameters

Parameter	Type	Description
`market`	`KaminoMarket`	Kamino lending market
`asset`	`string`	Reserve key from `KAMINO_RESERVES[market]`
`amount`	`BN`	Amount to withdraw in native token units

You specify the underlying token amount. The SDK resolves the collateral-side accounting from the reserve state.

A matching policy must exist before you execute the transaction. See Policy Builders.

Borrow

kaminoAction.borrow borrows reserve liquidity against the vault’s Kamino obligation.

const { setupInstructions, preInstructions, instruction, postInstructions } =
  await createVaultSyncTransaction({
    instructions: [
      kaminoAction.borrow(KaminoMarket.MAIN, "SOL", new BN(1_000_000_000)),
    ],
    owner: vaultPda,
    connection,
    policyPda,
    vaultPda,
    signer: wallet.publicKey,
    vaultAddress,
  });

const tx = new Transaction().add(
  ...setupInstructions,
  ...preInstructions,
  instruction,
  ...postInstructions,
);
await sendAndConfirmTransaction(connection, tx, [wallet]);

Parameters

Parameter	Type	Description
`market`	`KaminoMarket`	Kamino lending market
`asset`	`string`	Reserve key to borrow from
`amount`	`BN`	Amount to borrow in native token units

A matching policy must exist before you execute the transaction. See Policy Builders.

Repay

kaminoAction.repay repays borrowed reserve liquidity.

const { setupInstructions, preInstructions, instruction, postInstructions } =
  await createVaultSyncTransaction({
    instructions: [
      kaminoAction.repay(KaminoMarket.MAIN, "SOL", new BN(1_000_000_000)),
    ],
    owner: vaultPda,
    connection,
    policyPda,
    vaultPda,
    signer: wallet.publicKey,
    vaultAddress,
  });

const tx = new Transaction().add(
  ...setupInstructions,
  ...preInstructions,
  instruction,
  ...postInstructions,
);
await sendAndConfirmTransaction(connection, tx, [wallet]);

Parameters

Parameter	Type	Description
`market`	`KaminoMarket`	Kamino lending market
`asset`	`string`	Reserve key to repay
`amount`	`BN`	Amount to repay in native token units

A matching policy must exist before you execute the transaction. See Policy Builders.

Full flow example

This flow deposits USDC into Kamino Lend, borrows SOL, repays the SOL borrow, and then withdraws the USDC collateral.

Step 1: Setup and deposit

import BN from "bn.js";
import {
  ExponentVault,
  KaminoMarket,
  createVaultSyncTransaction,
  kaminoAction,
} from "@exponent-labs/exponent-sdk";
import {
  Connection,
  PublicKey,
  Transaction,
  sendAndConfirmTransaction,
} from "@solana/web3.js";

const connection = new Connection("https://api.mainnet-beta.solana.com");
const vault = await ExponentVault.load({ connection, address: vaultAddress });

const vaultPda = vault.state.squadsVault;
const policyPda = new PublicKey("...");

const { setupInstructions, preInstructions, instruction, postInstructions } =
  await createVaultSyncTransaction({
    instructions: [
      kaminoAction.initUserMetadata(KaminoMarket.MAIN),
      kaminoAction.initObligation(KaminoMarket.MAIN),
      kaminoAction.deposit(KaminoMarket.MAIN, "USDC", new BN(1_000_000_000)),
    ],
    owner: vaultPda,
    connection,
    policyPda,
    vaultPda,
    signer: wallet.publicKey,
    vaultAddress,
  });

const tx = new Transaction().add(
  ...setupInstructions,
  ...preInstructions,
  instruction,
  ...postInstructions,
);
await sendAndConfirmTransaction(connection, tx, [wallet]);

Step 2: Borrow SOL against collateral

const { setupInstructions, preInstructions, instruction, postInstructions } =
  await createVaultSyncTransaction({
    instructions: [
      kaminoAction.borrow(KaminoMarket.MAIN, "SOL", new BN(5_000_000_000)),
    ],
    owner: vaultPda,
    connection,
    policyPda,
    vaultPda,
    signer: wallet.publicKey,
    vaultAddress,
  });

const tx = new Transaction().add(
  ...setupInstructions,
  ...preInstructions,
  instruction,
  ...postInstructions,
);
await sendAndConfirmTransaction(connection, tx, [wallet]);

Step 3: Repay the SOL borrow

const { setupInstructions, preInstructions, instruction, postInstructions } =
  await createVaultSyncTransaction({
    instructions: [
      kaminoAction.repay(KaminoMarket.MAIN, "SOL", new BN(5_000_000_000)),
    ],
    owner: vaultPda,
    connection,
    policyPda,
    vaultPda,
    signer: wallet.publicKey,
    vaultAddress,
  });

const tx = new Transaction().add(
  ...setupInstructions,
  ...preInstructions,
  instruction,
  ...postInstructions,
);
await sendAndConfirmTransaction(connection, tx, [wallet]);

Step 4: Withdraw USDC collateral

const { setupInstructions, preInstructions, instruction, postInstructions } =
  await createVaultSyncTransaction({
    instructions: [
      kaminoAction.withdraw(KaminoMarket.MAIN, "USDC", new BN(1_000_000_000)),
    ],
    owner: vaultPda,
    connection,
    policyPda,
    vaultPda,
    signer: wallet.publicKey,
    vaultAddress,
  });

const tx = new Transaction().add(
  ...setupInstructions,
  ...preInstructions,
  instruction,
  ...postInstructions,
);
await sendAndConfirmTransaction(connection, tx, [wallet]);

Available asset keys

Look up the supported reserve keys for one Kamino market:

import { KAMINO_RESERVES, KaminoMarket } from "@exponent-labs/exponent-sdk";

const assets = Object.keys(KAMINO_RESERVES[KaminoMarket.MAIN]);

SOL handling

The SDK wraps and unwraps SOL automatically when the Kamino action uses SOL.

Strategy Vault Basics

Vault Creation & Operations

Vault Strategy & Policies

Other Resources

Kamino Lend instructions

Transaction structure

One-time setup

Init user metadata

Init obligation

Deposit

Parameters

Withdraw

Parameters

Borrow

Parameters

Repay

Parameters

Full flow example

Step 1: Setup and deposit

Step 2: Borrow SOL against collateral

Step 3: Repay the SOL borrow

Step 4: Withdraw USDC collateral

Available asset keys

SOL handling

​Transaction structure

​One-time setup

​Init user metadata

​Init obligation

​Deposit

​Parameters

​Withdraw

​Parameters

​Borrow

​Parameters

​Repay

​Parameters

​Full flow example

​Step 1: Setup and deposit

​Step 2: Borrow SOL against collateral

​Step 3: Repay the SOL borrow

​Step 4: Withdraw USDC collateral

​Available asset keys

​SOL handling

Transaction structure

One-time setup

Init user metadata

Init obligation

Deposit

Parameters

Withdraw

Parameters

Borrow

Parameters

Repay

Parameters

Full flow example

Step 1: Setup and deposit

Step 2: Borrow SOL against collateral

Step 3: Repay the SOL borrow

Step 4: Withdraw USDC collateral

Available asset keys

SOL handling