Kamino, a decentralized finance (DeFi) protocol built on Solana, has unveiled plans for an upcoming airdrop of its native KMNO token, scheduled for April. The airdrop event follows a snapshot of eligible users taken on March 31, with token distribution based on users’ points totals.
Thomas, a contributor to Kamino, provided insights into the airdrop mechanism during a monthly Solana developer call. He explained that the quantity of tokens received will be proportional to the points accumulated by users, with measures in place to prevent sybil attacks from individuals using multiple wallets to exploit the system.
Kamino offers a range of DeFi services, including borrowing, lending, and yield farming strategies, specifically tailored for tokens within the Solana ecosystem. Last year, the protocol introduced a points program to incentivize user engagement, setting the stage for the forthcoming airdrop, inspired by similar initiatives undertaken by platforms like Jito and Jupiter.
Upon its launch in April, the KMNO token will function as a governance asset, granting holders decision-making authority over Kamino’s incentive programs, revenue distribution, protocol operations, and risk management. This governance functionality underscores Kamino’s commitment to community-driven governance and decentralized decision-making processes.
According to details shared by Kamino on social media, the KMNO token will have a total supply of 10 billion tokens, with 10% circulating upon its debut. Additionally, 7% of the total supply is allocated for the initial community distribution phase.
Looking ahead, Kamino plans to conduct subsequent airdrop “seasons,” with the second season commencing in April. These future airdrops will prioritize user loyalty and sustained engagement with Kamino’s suite of DeFi products and services.