Solana DeFi Protocol Kamino Sets KMNO Token Airdrop for April

The airdrop will reward users based on their points totals.

AccessTimeIconMar 7, 2024 at 3:09 p.m. UTC
Updated Mar 8, 2024 at 10:53 p.m. UTC
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  • Kamino is the latest Solana-based DeFi protocol to set an airdrop date.
  • Seven percent of KMNO's total supply is earmarked for the first airdrop.

Solana-based DeFi protocol Kamino plans to airdrop its KMNO token in April after taking a snapshot of eligible users on March 31.

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  • "The amount of points you have will contribute to the amount of tokens you will get," Thomas, a contributor to Kamino, said on a monthly Solana developer call, explaining that the protocol will employ mechanisms to prevent airdrop farmers from sybil attacking the system with multiple wallets.

    Kamino is a platform for borrowing, lending and earning yield through various trading strategies on tokens in the Solana ecosystem. Last year, it deployed a points program to incentivize users and set up for an airdrop, following the example of Jito and Jupiter.

    The KMNO token will serve as a governance asset from launch day, Thomas said on the Zoom call Thursday. Its holders will ultimately have influence over Kamino's incentive programs, revenue disbursements, protocol operations and risk management, according to a tweet from Kamino.

    The token will have a total supply of 10 billion of which 10% will be circulating upon its April debut. Another 7% of the total supply is earmarked for the "initial community distribution," according to Kamino.

    Kamino plans to continue airdropping tokens with subsequent airdrop "seasons." The second will begin in April with another airdrop likely occurring at a later date. "Season 2 will emphasize loyalty & sustained usage of Kamino’s products," a tweet said.

    Edited by Sheldon Reback.

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    Danny Nelson

    Danny is CoinDesk's Managing Editor for Data & Tokens. He owns BTC, ETH and SOL.


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