Market-listing governance threshold
Kamino Lend's assessment for RD-F-072 — scored yellow on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
V1: admin/governance-gated listing. V2 (2025): permissionless isolated market creation by curators. Any curator can launch with custom parameters — lower threshold than high-approval governance. Borrow caps and curator accountability as controls.
Detail #
Kamino Lend V2 (launched late 2025) introduced permissionless isolated market creation. Any approved curator can launch a lending market with custom parameters (any asset pair, interest curve, oracle). This represents a meaningful reduction in market-listing governance threshold vs. V1's admin-gated approach. The control mechanism is: (1) curator accountability (risk managers: Gauntlet, SteakhouseFi, Allez Labs, MEV Capital, Sentora), (2) borrow caps set per asset, (3) vault allocation only flows to curator-managed markets. This is analogous to Morpho's permissionless market model. Risk: a curator could list an illiquid long-tail asset collateral without adequate borrow cap, creating liquidation risk.
Sources #
- GovernanceIntroducing Gauntlet as Official Vault CuratorsGov forum curator introductions (Gauntlet, Re7 Labs, SteakhouseFi)retrieved 2026-04-27
- Kamino V2 — Modular Credit InfrastructureRockawayX V2 announcement — permissionless market creationretrieved 2026-04-27
Methodology #
Classify the governance threshold required to list a new market as: permissionless / low-threshold (team multisig) / high-threshold (DAO vote) / no new listings.
See the full factor methodology and distribution across all protocols →