Solana’s (SOL) fastest-growing decentralized finance protocol, Kamino Finance, will shortly launch a factors program, a contributor stated Thursday, a transfer that units the stage for a future token airdrop.
The factors program might additional juice progress in what’s already develop into the star of Solana’s current bounceback. Its SOL token has greater than tripled since mid-October as DeFi merchants return to Solana’s on-chain buying and selling, borrowing, lending and yield-generating initiatives, most notably Kamino.
“Kamino’s about to start out a factors program,” a contributor to the challenge with the display screen identify Marky stated in a Twitter Areas Thursday. This “might effectively account in the direction of a future token.”
The character of Kamino’s factors program hasn’t but been revealed. Kamino challenge lead Marius George Ciubotariu didn’t return a request for remark.
Solana protocols this 12 months have taken to gamifying their utilization and rewarding their most loyal purchasers with factors. Many merchants count on these factors will assist decide future airdrop allocations and thus plan out their buying and selling and staking and yield farming methods to maximise their upside.
That was the case with Thursday’s JTO airdrop by Jito, a Solana-based liquid staking token protocol. Over 80% of the JTO tokens earmarked for the present distribution spherical are going to early protocol customers relying on what number of Jito factors they accrued.
Kamino runs vault merchandise that search to maximise yields for depositors who wish to present liquidity to numerous Solana-based DeFi buying and selling venues. It is also constructing a borrow-and-lend facility.
Its whole worth locked (a measurement of all of the cryptocurrencies held on the platform) has grown 257% in a month, essentially the most amongst Solana-based protocols with a TVL over $10 million. Kamino’s TVL sat at practically $50 million Thursday.
