Lots of people misunderstanding the Jupiter-Kamino fights and portraying in incorrect ways. I'll explain the crux of both issues. 1. The false advertising of Jupiter. When you go to a bank, you give your stocks or land documents as collateral and borrow against it. Nobody can borrow or use these stocks that you deposited. This is risk isolation, where your collateral is guaranteed to be safe and untouched. Now coming to the issue, there are two ways to implement borrow-lend. First is pools, like most crypto protocols including Aave, Kamino or any of the other ones. The concept is simple. You have allowed collaterals and allowed deposits. Users can deposit the assets qualified as collateral and borrow the assets that are allowed to be borrowable against that collateral. The ways to manage risk here are keeping different risk profile assets in different markets that are isolated. But this fragments liquidity. So you have vaults on top that takes in depositor assets separately and supply to these markets to ensure there's sufficient liquidity for borrowers keeping the rates in line. The second implementation is that of loopscale which is like a bank, where funds are collected from depositors in genesis vaults looking for yield. Then these vaults/bank lends them against varied forms of collateral put up by the borrowers. Risk here is truly isolated for the borrowers. Their collateral is not rehypothecated. The risk exists for vault depositors. There is also a second option where lenders can directly lend to specific pairs, in which case they know exactly where their deposits are going and against which collateral. I love this option tbh, but very few users in crypto actually understand and can manage risk. Now the main issue here is that Jupiter works like the first, but advertised like the second. Risk is not isolated like that of loopscale, but advertised so. Can a user not decipher it considering there is yield on the collateral they supplied? They can, but most users are dumb by default and it is the job of the protocol to not advertise falsely claiming risk superiority when it is clearly not. If done in a trad world, this is a major regulatory action, but in crypto, again brushed off as nothing because not many even understand except the labels which are printed out, "low risk". 2. Blocking of refinancing option by Kamino I'd say this is a business decision by Kamino to not make it easy for a competitor to vampire their userbase with misleading claims, or otherwise. Is it fair? Maybe not. If users love Jupiter lend so much, they can always withdraw and move over. I don't love Jup lend so much that I'd switch from Kamino to Jup lend fully, because nobody on Solana has as much risk averseness as Kamino imo and I believe my assets will be safe there for long term. AND as a major borrower of stables, Jupiter can't offer me the rates that Kamino can. I still have a lot in Jup lend because I borrow against INF which Kamino doesn't have. But coming from Jupiter a couple weeks after trying to bully @Titan_Exchange not to use their API, this sounds majorly hypocritical. Just like how Jupiter doesn't like others trying to eat their pie, Kamino wouldn't like it either. First open source your products, stop trying to do everything while your previous things are not yet fully cooked. Being an everything app is nice in theory but compounds the risk of something going wrong in everything. I'd still cheer for Jupiter because they are the protocol that was my go-to for several years and has a ton of cracked devs that are my faves on Solana.