Solana’s fastest-growing decentralized finance protocol, Kamino Finance, is set to launch a points program that could pave the way for a future token airdrop. The news comes as Solana’s native token, SOL, has seen a significant surge in value, more than tripling since mid-October. This surge can be attributed to the resurgence of DeFi traders who are returning to Solana’s on-chain trading, borrowing, lending, and yield-generating projects, with Kamino Finance being the standout performer.
According to a contributor to the Kamino Finance project, the points program is about to kick off, and it could potentially be linked to a future token offering. However, the specifics of the points program have yet to be disclosed, and the project lead, Marius George Ciubotariu, has not commented on the matter.
In recent times, Solana protocols have taken to gamifying the usage of their platforms and rewarding their loyal users with points. These points are expected to play a crucial role in determining future airdrop allocations. As a result, many traders strategically plan their trading, staking, and yield farming activities to maximize their upside.
A recent example of this strategy was seen with the JTO airdrop by Jito, a Solana-based liquid staking token protocol. Over 80% of the JTO tokens allocated for the current distribution round were rewarded to early protocol users based on the number of Jito points they had accumulated.
Kamino Finance operates vault products that aim to maximize yields for depositors who wish to provide liquidity to various Solana-based DeFi trading venues. Additionally, the protocol is also developing a borrow-and-lend facility. The total value locked (TVL) on its platform has experienced impressive growth in the past month, increasing by 257%. Among Solana-based protocols with a TVL exceeding $10 million, Kamino Finance has recorded the highest growth rate. As of Thursday, its TVL was nearly $50 million.
The introduction of the points program by Kamino Finance is expected to further boost its growth and attract more users to its platform. With the anticipation of a future token airdrop linked to the points program, traders and users will likely be incentivized to actively engage with Kamino Finance’s offerings to maximize their chances of receiving a token allocation.
In conclusion, the upcoming launch of a points program by Kamino Finance on Solana has generated excitement within the DeFi community. As Kamino Finance continues to thrive on Solana’s network, the implementation of this program could play a vital role in its future token distribution.