Your tokenised shares have packed a bag and borrowed money.

Kamino’s 29 October announcement says eligible holders can now use Backpack Securities tokenised equities as collateral to borrow USDC on Solana. Backpack describes the tokens as backed 1:1 by underlying US-listed shares. The isolated Backpack Market has asset-specific borrowing and liquidation parameters. Borrowers retain stock-price exposure, but falling collateral values can trigger liquidation; eligibility and redemption remain subject to Backpack’s terms.