Solana offers highest stablecoin lending returns among major chains
Stablecoin lending rates on Solana recently ranged from 6.7% to 8%, compared with about 3% to 4.4% on Ethereum and Arbitrum. Kamino Lend and Jupiter Lend account for most of the roughly $2.7 billion in total value locked across Solana's major lending protocols. Some advertised yields include reward components, and leveraged strategies can push returns much higher while adding risk.
Recent comparisons put Solana stablecoin lending at 6.7%–8%, while Ethereum and Arbitrum sat near 3%–4.4%. Kamino Lend held about $1.31 billion in total value locked and Jupiter Lend roughly $1.13 billion, together dominating Solana’s major lending total above $2.7 billion. On October 10, 2026, Jupiter’s USDC pool offered 5.12% APY on about $497 million in deposits.
Kamino’s Sentora PYUSD vault reached 8.02%, including about 2.3% in rewards, on $112 million. Plain Solana USDC pools yielded near 5%, while curated vaults ranged from 6% to 8% or more. Other examples included Loopscale USDC at 6.91%, OnRe ONyc at 11.02%, and leveraged Kamino loops from 15.6% to 23.61%. Utilization in sought-after pools was reported at 95%–99%.
Stablecoin holders, DeFi borrowers, and lending platforms could feel the effects. Higher advertised yields on Solana may draw deposits from Ethereum and Arbitrum, potentially increasing competition among chains. Yet returns tied to incentives, leverage, or off-chain assets may prove less stable, and heavily utilized pools could make withdrawals harder during stress. If users treat these rates as savings substitutes, they may take on risks they do not fully understand. The broader impact may depend on whether yields persist without promotional support.