Kamino Finance, a leading DeFi protocol on the Solana network, announced the KMNO token airdrop would take place in April, but the protocol revealed the snapshot date, set for March 31.As stated by the protocol, 7% of the total KMNO supply goes to the initial community distribution, which will be performed linearly based on the results of Season 1 of Kamino Points.
However, the Kamino Foundation will oversee the initial governance process until it transitions to a fully decentralized protocol. Ultimately, users will have influence over Kamino’s incentive programs, revenue allocation, protocol operations, and more.criticism from its community for announcing the snapshot date.
Others said this move attracts “short-term mercenary capital” from whales who will eventually dump the token once they receive it. Kamino Finance was one of the many Solana-based tokenless protocols that initially employed a points system to determine user engagement. Like many other DeFi protocols, Kamino users were incentivized to perform several activities, such as providing liquidity to earn yield, lending and borrowing, etc. Later, these protocols gauge which wallets participated the most, rewarding them with tokens in a potential airdrop.
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