ICHI vs Kamino Liquidity: chains, automation and TVL (2026)

ICHI and Kamino Liquidity both manage concentrated-liquidity positions, but they differ in network reach and how deposits are handled. ICHI is listed across 26 chains and its vaults accept a single token, removing the need to contribute a matched pair. Kamino is limited to Solana and places deposits into ranges on existing concentrated-liquidity protocols there.

Their listed TVL also differs substantially: about $5.9 million for ICHI and $66.9 million for Kamino. Those figures indicate the scale of deposits listed for each protocol, not a guarantee of performance or safety. Both are active, and both had a decline in TVL over the previous seven days in the cited data: 5.3% for ICHI and 6.6% for Kamino. A short-term change in TVL does not establish what future deposits or returns will be.

Both protocols automate work that liquidity providers would otherwise need to manage, but Kamino describes more steps in its liquidity process. ICHI deploys funds into Uniswap V3-style concentrated-liquidity pools and uses strategies to manage and rebalance positions. Its single-token deposit option is a practical distinction for users who do not want to provide a matched pair.

Kamino selects price ranges using quantitative models, rebalances positions to keep liquidity near the active price, and compounds trading fees and incentive rewards back into the position. It builds on other Solana DEXs rather than operating its own pool. That can make it attractive to users seeking a hands-off Solana liquidity position, but it also means exposure to the underlying DEXs. Kamino’s wider protocol includes credit and borrowing markets; ICHI also offers tools for projects and DAOs seeking on-chain liquidity or ways to deploy treasury tokens.

Neither protocol publishes its exact fee structure. ICHI does not state whether it charges performance or management fees; its fee details should be checked in the app or documentation. Kamino’s fees are also not stated, so check the relevant vault in its app before depositing. Do not assume that a vault’s displayed yield is the amount you will receive after any fees.

Depositors also pay network transaction fees. ICHI’s gas costs vary by the chain used, while Solana network fees apply to Kamino transactions. Returns are not guaranteed for either protocol: both depend on concentrated-liquidity strategies and trading activity, and market moves can affect the position. For ICHI, trading fees from the underlying pool contribute to returns. Kamino compounds trading fees and incentive rewards into positions, but compounding does not remove market risk or ensure a positive return.

Both protocols list two audits, but that does not remove smart-contract risk. ICHI names Quantstamp, Solidified, Certik, Pashov Audit Group, Bail Security and FYEO on its homepage; audit dates, scopes and findings are not stated. Kamino lists two audits but does not name the auditors or describe findings. Kamino also relies on underlying Solana DEXs, adding another source of potential risk.

Choose ICHI if you need a single-token deposit or want access across multiple networks. Choose Kamino if you use Solana and value automated range selection, rebalancing and fee compounding. In either case, consider impermanent loss, token-price swings and contract risk, and check current vault terms before committing funds. ICHI describes itself as non-custodial, and Kamino uses users’ own wallets; neither setup prevents losses from market or contract issues.