Kamino Finance, a prominent DeFi lending protocol on Solana, has initiated a major growth campaign for $CASH, a new USD-pegged stablecoin. The platform is offering up to $540,000 in monthly incentives to accelerate the adoption of the stablecoin, which is issued by Stablecoin and distributed through Phantom wallet's new 'Phantom Cash' experience.

The initiative allocates rewards across various DeFi activities on Kamino. Users can receive incentives for borrowing $CASH against collateral like USDC and pSOL, earning rewards for participating in liquidity vaults with partners like Orca, and for using leveraged products in collaboration with Maple Finance. For example, the CASH-USDC liquidity pool on Orca is incentivized with $150,000 in $CASH and 5,100 $ORCA tokens monthly.

This strategy positions Kamino as the exclusive scaling partner for $CASH, leveraging its substantial market presence—including $4.7 billion in deposits and $1.6 billion in borrows. By creating a dedicated, multi-faceted incentive program, Kamino aims to deeply integrate $CASH into the Solana ecosystem.

This signals a broader trend of established DeFi platforms acting as launchpads to bootstrap new assets. The collaboration between a lending protocol (Kamino), a wallet provider (Phantom), a DEX (Orca), and a corporate credit market (Maple) highlights a strategic, ecosystem-wide approach to scaling new stablecoins and capturing market share.