kamino captured 52% of all RWA deposits in DeFi. $1.9b TVL. no token. now figure is piping $20b in HELOCs and auto loans through it on solana. PRIME market hit $600m and paid $6.5m in interest in 3 months alone.here's the thing nobody's pricing in. the spread between what lenders earn (10-14%) and what HELOC borrowers pay (8-12%) is 2-4%. traditional banks require 6-8% spreads on consumer credit to cover defaults and servicing. DeFi depositors are absorbing subprime credit risk at half the compensation bank ...