Top DeFi Protocol Kamino Integrates Oracle Pyth to Close DeFi-CeFi Gap on Solana

The new tool promises fast, competitive pricing and aims to eliminate slippage when executing token swaps on Solana.

By: Jona Jaupi • April 02, 2025

Kamino Finance and Pyth Network cover image

Kamino Finance, a decentralized finance (DeFi) protocol built on the Solana blockchain, announced today that it has launched a tool to make token swaps on Solana more efficient, according to an announcement shared with The Defiant.

The tool, dubbed Kamino Meta-Swap, integrates blockchain oracle Pyth Network’s Express Relay, designed to reclaim maximum extractable value (MEV). Meta-Swap uses Pyth’s tool to route swaps through a real-time auction of top searchers, delivering competitive pricing. The new product from Kamino also features a tool called Active Simulations, which the project claims to ensure accurate pricing, prevent failed transactions, and eliminate slippage.

Kamino Finance boasts a total value locked (TVL) of $1.82 billion, and is currently the third largest DeFi protocol on Solana by TVL, according to data from DeFiLlama. At press time, its market capitalization stands at around $64.5 million.

CeFi-DeFi Performance Gap

Speaking to The Defiant about the integration, Mike Cahill, CEO of Douro Labs, a leading contributor to Pyth Network, stated: “Our goal is to make decentralized solutions better than CEX. Right now, there’s a serious performance gap between DeFi and CeFi, and top traders and institutions often have no choice but to leave decentralization behind for the sake of speed.”

He explained how Kamino’s tool seeks to improve decentralized trading of tokens on Solana: “Their new market orders are powered by Express Relay — Pyth Network’s plug-and-play liquidity solution designed specifically for developers to create the types of markets they want to serve,” he said, adding:

“This is how we’re closing the gap between DeFi and CeFi and ushering in a new generation of finance that takes the best of every type of technology available.”

Mike Cahill

How it Works

Meta-Swap searches platforms like Jupiter, DFlow, Fluxbeam, Raydium, and Autobahn for the best pricing on any swap. It then actively scans and excludes any routes that might fail due to slippage.

Quotes are also constantly monitored to provide real-time prices. As a result, Meta-Swap traders not only get the expected price but also earn a “tip” — a share of the extra value created by competitive bidding.

"Meta-Swap is finally bringing the decentralized Nasdaq promise to Solana users — making high-performance trading a reality on Solana,” Marius Ciubotariu, co-founder of Kamino Finance, told The Defiant. “Kamino’s active simulation algorithm together with Pyth’s Express Relay’s auction network network constantly scans a wide pool of routes and searchers to deliver best execution on every trade."

Meta-Swap is a supplement to Kamino Swap, along with Limit Orders. The project says it also has plans for a DCA product, which is also expected to be powered by Express Relay.