Kamino Finance is a leading DeFi Protocol on the Solana Network. It announced that the KMNO tokens would be airdropped in April. However, the protocol revealed that the snapshot date was set at March 31.
According to a recent post on X.com, Kamino Points Season 1 culminates in the genesis distribution for KMNO.
According to the protocol, 7% (or 10 billion KMNO) of the total KMNO is allocated for the first community distribution. This will be done linearly based upon the results of Season 1, Kamino points.
The Genesis Distribution will conclude with the Kamino Points Season 1 Snapshot on March 31st. $KMNO April is a month of celebrations.$KMNO Genesis is an essential step to establishing decentralized governance for Kamino Finance🧵 pic.twitter.com/m14UJLmihb
— Kamino (@KaminoFinance) March 7, 2024
KMNO has several utility features. The governance token is the most important, allowing the user to participate in different parts of the Kamino Protocol.
The Kamino Foundation is responsible for the initial governance until it becomes a decentralized protocol. In the end, users will be able to influence Kamino’s incentive programs and revenue allocation.
Note that the team has a good reputation. faced The community has criticised the announcement of the snapshot date. Users complained that revealing the date —roughly 23 days in advance— only prompted airdrop hunters to deposit millions into the protocol, climb the leaderboard, and get the biggest rewards instead of early users.
Other people said that this move is attracting “short-term mercenary capital” Whales will dump tokens once they have received them.
Kamino Finance is one of the tokenless protocols built on Solana that used points to measure user engagement. Kamino Finance users were also incentivized by DeFi to engage in several activities such as lending and borrowing to earn yield. These protocols will then determine which wallets have participated the most and reward them with tokens via an airdrop.
Learn more about the current and future Solana Airdrops on our website guide here You can also watch our video.
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Source: cryptopotato.com