Consumer Auto Credit Scales 10x on Solana With Kamino Fixed Rates Over $62M in fixed-rate borrowing and $77M in AUTO collateral were deployed through Multiply within one month. Kamino Fixed Rates gives borrowers a defined cost of capital against tokenized assets on Solana. In the AUTO market, that financing has supported a tenfold increase in AUTO supplied within one month. Since the first AUTO/wYLDS fixed-rate reserve opened, AUTO supplied on Kamino grew from $9M to $98M. Outstanding fixed-rate debt passed $62M, about 88% of all borrowing in the market. AUTO gives holders exposure to U.S. consumer auto-loan financing through Hastra and Figure’s Prime marketplace. Holders can borrow wYLDS against AUTO for a 30-day fixed term, or use Multiply to borrow and acquire more AUTO in a single transaction. For issuers, fixed-rate borrowing becomes a source of new supply. Multiply uses borrowed wYLDS to mint additional AUTO through Hastra, so demand for leverage turns into net-new issuance. Variable Rates Limit Auto Credit Scalability Borrowing costs determine how much yield AUTO holders retain when increasing their exposure through Multiply. With variable-rate borrowing, those costs can rise while a position is open, reducing or eliminating the spread between AUTO’s yield and the borrowing rate. Kamino Fixed Rates locks the borrowing rate for 30 days, giving holders a defined cost of capital for the term. Fixed Rate Multiply Locks the Cost of Leverage on AUTO The first AUTO fixed-rate reserve opened on September 21, 2026, at 5.30% with a 30-day term. With Multiply, users deposit AUTO and borrow wYLDS to acquire more AUTO in a single transaction, increasing their exposure at a borrowing rate fixed for the term. As demand grew, new reserves opened at 5.75%, 6.00%, and 6.25%. Each reserve carries its own fixed rate, so the market can add capacity without repricing loans already open. Auto Rollover renews eligible loans into a new fixed term at maturity, so borrowers can keep positions open without refinancing manually. $62.7M in Fixed Rate Loans in the First Month Borrowers took out more than $10 million in fixed-rate loans in the first 72 hours and more than $40 million in the first two weeks. Across the full AUTO market, deposits reached $169.7 million and total borrowing reached $70.9 million. AUTO Collateral Grew 10x with Fixed Rates Between September 21 and October 21, AUTO supplied on Kamino grew from $9.39 million to $98.53 million, an increase of $89.14 million. The number of AUTO tokens supplied rose from 9.21 million to 95.97 million over the same period, so the growth came from new deposits rather than changes in AUTO's price. The wider market expanded alongside the collateral base: As of October 21, more than $77 million in AUTO was deployed across Fixed Rate Multiply positions, roughly 78% of all AUTO supplied on Kamino. Most of the new collateral went directly towards fixed-rate leverage strategies. $12.7M Renewed Automatically Into New Fixed Terms Auto Rollover has renewed $12.7M in AUTO fixed-rate debt, keeping borrowing active across terms without manual refinancing. Renewals began on October 18, when the first 30-day loans entered their rollover window. By October 22, 68 positions had renewed, equivalent to approximately 20% of outstanding fixed-rate wYLDS debt. Every renewal stayed in its existing reserve, rolling the full outstanding balance, including accrued interest, into a new 30-day term at the same fixed rate. Auto Rollover can renew eligible loans up to three days before maturity, subject to available liquidity and the borrower’s rate settings. Holders can keep their AUTO exposure running with a defined cost of capital, without closing and rebuilding their positions at each expiry. What AUTO Means for Tokenized Credit Issuers Fixed-rate borrowing is driving AUTO’s growth on Solana. In one month, the AUTO Market grew over 8x in market size; fixed-rate loans accounted for 88% of all borrowing in the AUTO market. Fixed Rate Multiply mints AUTO directly through Hastra, allowing holders to increase their exposure without relying on available DEX liquidity. Multiply helped drive over $40M in AUTO minting within two weeks, with Figure and Hastra reaching a new all-time high of $100M in AUTO circulation. For tokenized credit issuers, this makes fixed-rate lending a distribution channel: holders borrow to acquire more of the asset, and that demand funds new issuance. Fixed-rate borrowing is also live against ONyc in the OnRe Market, extending the same financing model to reinsurance-backed credit. Kamino’s next phase brings fixed-rate liquidity to more markets and maturities, giving more holders a defined cost of capital against their tokenized assets.