Aave co-founder accuses Kamino of imitating Aave, Solana co-founder refutes

On February 12th, Aave's leading position in the DeFi lending field seems to be facing fierce competition. According to data compiled by Token Terminal, Solana-based DeFi project Kamino has seen a 1,368% increase in net deposits since January 2024, while Morpho has seen a 214% increase in net deposits during the same period. At the same time, Aave's net deposit growth rate is around 213%.

This week, Aave founder Stani Kulechov criticized Kamino on Twitter, calling the project an "imitator" of Aave's "old technology" with a "half-finished" user interface. His post sparked pushback from members of the Solana community, including Solana co-founder Anatoly Yakovenko, who believe Kamino is superior. Another early member of the Aave development team, Marc Zeller, has been critical of the approach taken by other DeFi projects when facing issues.

Despite criticizing Kamino, Kulechov admitted in a recent podcast episode: "Overall, the more developers there are on-chain, the better, and it doesn't matter where they start or end. If Solana has more developers building resilient, secure, and robust DeFi, I would be happier."