Kamino Finance, a Solana-based defi project, is set to conduct an on-chain snapshot on March 31 for a crypto airdrop in April. This airdrop is part of a points-based token distribution plan, a trend gaining popularity in the cryptocurrency space.

Key Highlights:

  • 10% of Kamino’s total supply will enter circulation at launch.
  • 7% of the total supply is earmarked for the Genesis community distribution.
  • Points-based token-sharing mechanism for airdrop allocation.
  • KMNO token unlocks governance privileges for holders.

Holdings of Kamino’s $KMNO token will grant users governance rights, allowing them to participate in decision-making processes regarding the platform’s operations. These privileges include control over incentive programs, revenue allocation, and voting on risk management strategies.

Initially, the Kamino Foundation will oversee most governance functions, with plans for gradual decentralization over time. The platform has outlined a Season Two distribution roadmap that emphasizes user participation and sustained activity on the protocol.

Despite efforts to prevent airdrop farming, some users expressed disappointment with the early announcement, citing concerns about potential advantages for whales. Kamino Finance offers a defi platform for earning yield on Solana ecosystem tokens through borrowing and lending crypto collateral. With a lending product valued at $514 million in total locked value, Kamino Finance competes with other platforms in the Solana ecosystem.

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