Event Timeline
About Kamino
Kamino Finance is Solana's largest lending and borrowing protocol by total value locked, combining lending, liquidity provision, and leverage into a single unified platform. Users can supply assets to earn yield, borrow against collateral, provide concentrated liquidity to DEXs, and access leveraged strategies all within the same interface. Its core innovation is the kToken system, which tokenises liquidity positions and makes them composable as collateral within Kamino Lend.
At its peak in March 2024, Kamino held over $1.5 billion in TVL, making it the dominant DeFi lending platform on Solana ahead of Marginfi. The KMNO token was designed as a governance token from day one, giving holders influence over incentive programs, revenue allocation, and risk management parameters.
Airdrop Stats
Kamino allocated the largest share at 60% to the community, making it one of the most community-weighted distributions in the Solana DeFi ecosystem. Of that 60%, the initial 7.5% Genesis airdrop was distributed immediately, with the remaining 52.5% reserved for ongoing seasonal rewards, liquidity mining incentives, and governance-directed programs. The team and contributors hold 20% on a vesting schedule, and the ecosystem and treasury bucket at 12% covers grants, integrations, and protocol development. Investors take the smallest slice at 8%, reflecting a lean capital raise. The multi-season distribution model is the strongest aspect of the tokenomics, rather than a one-time airdrop, Kamino continues rewarding active users across subsequent seasons, giving long-term participants more total value than the disappointing Genesis drop initially suggested.
How It Worked to Get the Kamino Airdrop
Supply Assets to Kamino Lend
Provide Liquidity to Vaults
Borrow Against Collateral
Hold OG Status
Earn Season 2 Onwards
Was the Kamino Finance airdrop worth it?
Mostly disappointing, especially compared to other Solana protocol airdrops of the same period.
- The 70% price drop at launch was brutal. Users who had deposited capital for months expecting a meaningful reward received tokens that lost the vast majority of their value within minutes of trading. At $0.03, the total Genesis airdrop was worth approximately $22.5 million, making it one of the smaller relative distributions for a protocol with $1.5 billion in TVL.
- The points system also attracted significant criticism for rewarding large capital depositors far more than loyal small users. The OG multiplier adjustment helped partially but did not fully resolve the fairness concern.
- For large depositors who sold at the $0.11 opening, the returns were reasonable relative to the capital deployed. For everyone else, the airdrop was a disappointment.
- The one positive is that Kamino's continued Season 2 distribution model means participation has ongoing value, the protocol continues to airdrop tokens to active users, making long-term engagement more rewarding than the initial Genesis drop suggested.
Kamino Finance Official Links
Official channels, documentation and community for this airdrop:
This airdrop has concluded. It is kept for research rather than participation.
