Kamino Protocol on Solana Plans Airdrop After Jito Token Debut

• Solana Decentralized Finance Protocol, Kamino Finance, Sets to Launch Points Program
• Kamino's Points Program Launch
• Increasing Gamification of Solana Protocols
• Case Study: Jito's JTO Airdrop
• Development and Expansion of Kamino

Solana Decentralized Finance Protocol, Kamino Finance, Sets to Launch Points Program

Kamino Finance, one of the rapidly expanding decentralized finance protocols on the Solana$104 5.03% (SOL) blockchain, is reportedly on the brink of unveiling a points program. This development could potentially lay the foundation for a prospective token airdrop.

The points program is anticipated to promote further growth in the star performer of Solana's recent rebound. Since mid-October, the value of Solana's token has tripled, attracting DeFi traders back to its on-chain trading, borrowing, lending, and yield-generating projects, with Kamino standing out prominently.

Kamino's Points Program Launch

A contributor to the Kamino project, known as Marky, discussed the impending launch of a points program during a Twitter Spaces conversation. It was speculated that this could make significant contributions towards a future token. However, details regarding the nature of this points program remain undisclosed. Marius George Ciubotariu, the project lead for Kamino, is yet to comment on the matter.

Increasing Gamification of Solana Protocols

This year, Solana protocols have introduced gamified elements to their usage, rewarding their most loyal users with points. There is a widespread expectation among traders that these points will play a significant role in determining future airdrop allocations. This anticipation is guiding them to strategize their trading, staking, and yield farming operations to amplify their benefits.

Case Study: Jito's JTO Airdrop

Jito, a liquid staking token protocol based on Solana, recently executed a JTO token airdrop on Thursday. A staggering 80% of the JTO tokens reserved for the current distribution phase will be directed to early protocol users, contingent on the number of Jito points they have accumulated.

Development and Expansion of Kamino

Kamino operates vault products aimed at optimizing yields for depositors wishing to offer liquidity to various Solana-based DeFi trading venues. In addition, the protocol is currently developing a borrow-and-lend facility.

The protocol's total value locked (TVL), a metric that quantifies all the cryptocurrencies held on the platform, has surged by 257% within a month. This rate of growth is unparalleled among Solana-based protocols with a TVL exceeding $10 million. As of Thursday, the TVL of Kamino was approximately $50 million.

Edited by Jonathan Stoker