Solana Based DeFi Token Announced Airdrop Season 1

There’s been news that a new DeFi protocol operating on the Solana blockchain, Kamino, has recently announced the schedule for its upcoming airdrop. The first airdrop will distribute seven percent of the total supply of KMNO tokens. Scheduled for April, the airdrop will occur after a snapshot is taken of eligible users on March 31st.

In parallel news, a crypto fund Pantera Capital is reportedly looking to raise additional funds. The purpose is to acquire discounted Solana (SOL) tokens from FTX which currently is a platform facing challenges, as per a report by Bloomberg on Thursday.

Kamino token airdrop

“The amount of points you have will contribute to the amount of tokens you will get,” Kamino contributor Thomas said on a monthly Solana developer call, as per reports. In order to prevent airdrop farmers from sybil attacking the system with multiple wallets, the protocol will employ mechanisms, he explained.

Kamino lets you borrow, lend and earn yield through various trading strategies on tokens in the Solana ecosystem. As Jito and Jupiter did, it launched a points program to incentivize users and set up an airdrop.

On Thursday’s Zoom call, Thomas reportedly said the KMNO token will serve as a governance asset. In a tweet, Kamino said its holders will have influence over incentive programs, revenue disbursements, protocol operations, and risk management. Upon its April debut, 10% of the token’s total supply will be in circulation which is 10 billion tokens. And as per Kamino, another 7% of the total supply will go to the “initial community distribution.”

$KMNO Future Utility:1. Control over $KMNO Incentive Programs for protocol users2. Control of protocol revenue allocation3. Voting for decentralized protocol operations and risk management .