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FEB 8, 2024

An Update on Solana’s Airdrops

by ChefGunny.sol

Find out about $MET, $JUP, $PARCL, $KMNO below.

$JUP

Having distributed more than $750M to active participants all over the Solana ecosystem, I think it is safe to say that the $JUP launch was a resounding success. $JUP arguably kicked off the current wave of airdrop hype, and has scheduled further airdrops every ‘Jupuary’.
As to the criteria for future airdrops, I cannot say for certain. However, I do imagine that active users of the exchange, and its other products over the following year, will likely reap the majority of the rewards come next ‘Jupuary’. This means:
  • Keep on using Jupiter’s Aggregator
  • If you trade perps, try out their product and generate some volume.
  • Try to deposit into the perp LP, and earn fees.
  • Use ‘DCA’ and or ‘Limit Order’ when appropriate.

$PARCL

Parcl has recently entered season two of its points trilogy, and has increased points emissions for both depositors and traders.
  • Depositors now earn 4pts per USDC in LP per day.
  • Traders now earn 2pts per USDC in open interest per day.
The team have strayed away from directly announcing a token thus far, but have stated that ‘points will provide a quantitative answer to a users contribution to the protocol’, and that ‘an exciting new paradigm’ will roll out following the close of the points program. I’m pretty confident this will eventually lead to the launch of a token, but this is by no means a guarantee.

$MET

Meteora has attracted significant user interest and volume with the launch of their DLMM pools over recent weeks, and especially so during the $JUP launch. These pools concentrate liquidity into ‘bins’, allowing for extreme capital efficiency. For e.g. I earnt $9 in trading fees from only $85 in liquidity provided, bloody brilliant!
The Jupiter team is closely linked to Meteora, with many team members working on both projects simultaneously. This is a DeFi protocol to definitely keep an eye on.
The points system is now live in the backend, and the team is actively working on a UI due sometime in the near future. Currently, the best ways to accrue MET points are:
  • Make use of the DLMM pools, $1 of fees generated = 1000 points.
  • Deposit into the dynamic vaults, $1 of TVL per day = 1 point.

$KMNO

Since I first mentioned Kamino back in December, they have initiated a points system of their own, with users generating points through lending, borrowing and providing liquidity.
  • 1 point per day, per $1 lent, borrowed or deposited in a LP.
It is similar in this way to the other platforms I have mentioned so far. However, you can actually get multipliers for lending / borrowing certain assets. For e.g. depositing $SOL earns 5x its USD value, which is something to consider for points maximisation.
Like Parcl, there has not been an official token announcement to date, but again I am confident that once the points system draws to a close on Kamino, a token launch will follow.
And that’s a wrap for this airdrop update! I hope $JUP treated you well, and hopefully increased the capital you can put to work on these various sites, I know it will be worth it in the long run.
Thanks for reading! If you enjoyed this, drop a follow on X, Telegram and subscribe to my access pool to stay in the loop.
As always, stay safe and bullish,
ChefGunny.
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