🪂· Stake & Earn Marginfi Airdrop on Solana Guide

MarginFi is the top lending protocol on Solana with $350m TVL and has a token system for future rewards.

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The airdrop from the Solana DeFi protocol, Jito distributed $225 million among 10,000 users during early December. Utilizing a point-based system, users could claim $10,000 in $JTO by staking 1 $SOL for 100 days, accumulating 1 point per day for 1 $SOL staked.

This significant airdrop event might signify the initiation of a trend for airdrops within the Solana DeFi space.

Supplying Funds: As a lender on Marginfi, you provide your crypto assets (such as SOL, USDC/USDT, ETH, wBTC, JTO, PYTH, or other supported tokens) to the designated pool.

Every dollar lent earns 1 point per day. The more you lend, the more points you earn. The longer you lend, the more points you earn.

Let’s get started!

Easy steps to lend on mrgnlend

Step 1: Visit👉 marginfi dapp

Step 2: Select from the pool and deposit the amount you wish to lend

Now, you can enjoy to earn yield on your deposited assets.

More about Marginfi points

1> Lending points Any user with current deposits on marginfi has been earning points in the background. Every dollar lent earns 1 point per day. The more you lend, the more points you earn. The longer you lend, the more points you earn.

The users who have deposited the most for the longest currently have the most points and will continue to unless someone deposits more.

2> Borrowing points Borrows are the main driver of a lending protocol’s success and help to grow the overall DeFi eco. As such, borrowers receive more points than lenders. $1 borrowed will earn 4 points per day.

The collateral lent to open a borrow will count for lending points as well, meaning borrowers earn not only the boosted points from borrowing but also points from lending.

3> Referrals Users can also earn points through referrals. A referring user will get 10% of the points the users they refer earn. These are not reduced from the referred users balance, they can still earn points at the same rate outlined above. Additionally, referring users will earn 10% of the 10% any user they refer earns from referring other users. This continues down the tree as more users refer others.

That’s it for today’s tutorial, you’re done!

⚠️We have no partnership with any projects. The information provided in this article is for educational and informational purposes only. NFA, DYOR. If you found this tutorial helpful, please give claps and share! Thank you!😄

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