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Crypto Airdrops

Kamino Airdrop Farming Guide: Maximize Points & Secure Early Rewards

Author

Jay Solano

Tags

Reading time

3 mins
Last update

Author

Jay Solano

Tags

Reading time

3 mins
Last update

Author

Jay Solano

Tags

Reading time

3 mins
Last update


kamino airdrop

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The rumour mill in the Solana ecosystem is churning with speculations about a potential Kamino airdrop. While official confirmation about Kamino Airdrop remains elusive, the buzz highlights the platform’s growing popularity and potential. Kamino Finance is kicking off the next phase with Season 1 of Kamino Points! This exciting program rewards existing users and newcomers who explore the platform’s diverse product suite. 

 

Kamino Airdrop

Kamina Token Airdrop is expected in Quarter 1 of 2024. While the official confirmation remains elusive, the platform is getting popular and has potential. The airdrop is expected around the launch of the Token this year. 

Pointing System: Active, Season 1. Throughout 2024, there will be numerous rounds of airdrops.

Difficulty to farm: Effort – Mid, Time Needed – Mid (At the beginning)

Risk: Leverage trading, Liquidation, Platform Hack, Stable/LST Coin Depeg, Impermanent Loss

Get rewarded early for building on Kamino! This guide will navigate you through point farming on Kamino Finance, unlocking potential airdrops and maximizing your points with clear steps and interactive elements.

What’s Kamino?

Imagine a DeFi playground where you can lend, borrow, trade, and provide liquidity – all on Solana and under one roof. That’s Kamino Finance! They’re offering points right now, which could translate to sweet airdrop rewards later. Let’s get farming!

Before you start:

  • Understand the risks: DeFi involves inherent risks, like impermanent loss and liquidation. Read Kamino’s docs and only invest what you can afford to lose.
  • Have a Phantom Wallet or compatible browser wallet.
  • This guide uses USD 100 as an example. Adjust based on your comfort level.

Kamino Farming Guide

1. Connect to Kamino:

Visit https://app.kamino.finance/ and connect your wallet. Explore the platform to familiarize yourself. Please note that always use your burner wallet to explore and click on sites you are not familiar with. 

2. Choose your farming style:

Option 1: The Chill Way (Lower Risk, Lower Points)

  • Lend: Go to “Borrow/Lend” and deposit your $100 USDC (gets a 5x points boost!).
  • Borrow: Switch to “Borrow” and borrow SOL (another 5x boost!). Aim for 50% or less of your USDC amount to manage risk.
  • Relax and earn: That’s it! You’re passively accumulating points.

Option 2: The Active Way (Higher Risk, Higher Potential Points)

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Ready to push it? This strategy involves looping for more points but understanding the risks before proceeding.

Looping Steps:

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  1. Follow the steps in “The Chill Way”.
  2. Loop 1: After borrowing SOL, head to https://jup.ag/dca. Use their DCA feature to slowly convert your SOL to USDC (maximizes JUP points!). Aim for 1-2 minute intervals.
  3. Repeat: Go back to “Borrow/Lend” and lend your new USDC (50% again). Borrow less SOL (around 25% of new USDC).
  4. Loop 2: Convert the borrowed SOL to USDC again using https://jup.ag/dca.
  5. Keep looping: Repeat steps 3 & 4, gradually decreasing borrowed amounts until you reach your comfortable risk level.

Pro Tip: Monitor your “Health %” to stay above the liquidation threshold. Adjust your strategy as needed.

3. Withdrawing:

Remember, you need to repay borrowed funds before withdrawing your USDC. Head to “Borrow/Lend” and repay your SOL first. Then, withdraw your USDC.

Remember:

  • You should do your own research and understand the risks involved.
  • This guide is for informational purposes only and does not constitute financial advice.
  • Stay updated on Kamino’s official channels for the latest information.
  • More details about the Kamino airdrop and specific limitations will be released soon here on UTB. Keep an eye out!

You can read this for more info: Kamino Finance rates and boosts

If you still have questions regarding Kamino Airdrop, you can contact us, and we will try our best to cover those questions here in the article. Happy Farming!