Solana Lending TVL Soars to $3.6B as New Protocols Battle for Market Dominance
Solana’s lending markets have seen speedy progress as the community continues to develop its on-chain finance capabilities, in accordance to a report by RedStone.
The report discovered that Solana has maintained 100% uptime for 12 months, delivered transaction finality in roughly 400 milliseconds at a median price of $0.001, and reached $35.9 billion in peak every day DEX quantity.
Inside Solana’s $3.6B Lending Market
Total worth locked (TVL) in Solana’s lending markets reached $3.6 billion as of December 2025, up from $2.7 billion a 12 months earlier. Solana cash markets stay extremely aggressive, with a number of protocols working and market management shifting quickly.
Among main platforms, Kamino Lend reported $3.5 billion in TVL after its May 2025 improve, introducing a Market Layer and curator-managed Vault Layer. Jupiter Lend, launched in August 2025, reached $1.65 billion in TVL inside months, providing remoted vaults with rehypothecation, high loan-to-value ratios, and low liquidation penalties. The report famous that particular person protocol TVLs can sum greater than the full community lending TVL as a result of double-counting is eliminated when borrowed capital flows between protocols.
Meanwhile, Drift’s v3 improve mixed derivatives buying and selling with built-in lending features, and achieved sub-400 millisecond execution for most market orders, whereas Loopscale operates an order-book lending platform with $124.9 million in TVL and $40 million in energetic loans.
SAVE (previously Solend) and marginfi additionally remained energetic however held smaller market shares.
RWA And Institutional Capital Targets Solana
The subsequent wave of progress on Solana is centered on tokenized real-world property and institutional capital deployment. According to the report, a number of main issuers have launched or expanded tokenized merchandise on the community, together with Securitize, BlackRock’s BUIDL fund, VanEck’s VBILL, Apollo’s ACRED, Ondo, and Backed Finance.
Meanwhile, Keel, an on-chain capital allocator linked to Sky Protocol, has already outlined a deployment roadmap of up to $2.5 billion throughout lending markets, stablecoin liquidity, and tokenized real-world property. RedStone famous that Gauntlet, which serves as a curator and danger supervisor, oversees greater than $140 million throughout Kamino and Drift vaults and manages methods linked to the CASH vault, a fiat-backed stablecoin issued by Phantom, Bridge, and Stripe.
The report stated these developments mirror rising involvement from institutional members working by means of curated vaults, structured allocations, and tokenized asset merchandise throughout the Solana ecosystem.
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