Kamino launches nOPAL, Plume Vaults’ first market curated by Re7 Labs

Kamino Finance, the largest lending protocol on Solana, has gone live with a dedicated market for nOPAL, the receipt token for Plume’s BlackOpal (Nest) product. The underlying asset is Brazilian credit card receivables, which is exactly as traditional-finance as it sounds, now living onchain. The market is the first Plume Vaults integration on Kamino, curated by Re7 Labs, a DeFi risk and strategy firm that has been working with Kamino on permissionless lending vaults since September 2024. What nOPAL actually is nOPAL represents a tokenized stake in the BlackOpal LiquidStone II vault, which bundles short-duration Brazilian credit card receivables into a yield-bearing instrument. The historical yield range sits between 8% and 12% APY, driven by the interest rates embedded in those underlying receivables. Since the vault’s inception in late 2025, it has reported zero defaults. nOPAL has expanded across several networks since its initial Plume launch: Solana joined the picture through Plume’s Nest integration announced in December 2025, and the token has also found footing on Avalanche, Ethereum via Pendle, and BNB Chain. The Kamino market is the Solana chapter of that broader multi-ch...