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Introduction ​
Kana is a yield aggregator built on SEI blockchain supporting both USDC and WSEI. Think of it as a high-yield savings account that automatically finds the best rates across SEI lending protocols.
The Problem ​
DeFi lending protocols on SEI each offer different yields that fluctuate constantly. Manually moving funds between protocols is:
- Time-consuming — monitoring rates across Yei Finance, Takara, Morpho, and Feather
- Gas-inefficient — frequent rebalancing eats into returns
- Error-prone — manual operations risk mistakes
The Solution ​
Deposit into a Kana vault and receive vault shares (kUSDC or kSEI). Kana's smart contracts and keeper bot handle everything else:
- Auto-allocation — funds are split across SEI lending protocols based on current APYs
- Auto-rebalancing — the keeper bot monitors rates and rebalances when better opportunities arise
- Auto-compounding — harvested yield is reinvested automatically
- Single withdrawal — redeem your vault shares for the underlying asset at any time
Key Properties ​
| Property | USDC Vault | WSEI Vault |
|---|---|---|
| Asset | USDC | WSEI |
| Share Token | kUSDC | kSEI |
| Yield Sources | Yei Finance, Takara, Morpho | Yei Finance, Takara, Feather |
| Chain | SEI mainnet (chain ID 1329) | SEI mainnet (chain ID 1329) |
| Vault Standard | ERC-4626 | ERC-4626 |
| Fee | 10% performance fee on yield (immutable) | 10% performance fee on yield (immutable) |
| Lockup | None — withdraw anytime | None — withdraw anytime |
How Vault Shares Work ​
When you deposit into a Kana vault, you receive vault shares (kUSDC for the USDC vault, kSEI for the WSEI vault) representing your proportional ownership of that vault. As yield accrues, the value of each share increases relative to the underlying asset. When you withdraw, you redeem shares for more of the underlying asset than you deposited.
This is the standard ERC-4626 tokenized vault pattern — widely used, battle-tested, and composable with other DeFi protocols. Both vaults are functionally identical; they differ only in the underlying asset and the third yield source (Morpho P2P for USDC, Feather for WSEI).