Marginfi airdrop is expected to take place in 2024. The exact date of the airdrop is yet to be announced. However, it is beneficial for you to know about the workings of the Marginfi platform, the eligibility criteria for participating in the airdrop, and the procedure to claim the rewards.
More About Marginfi
Marginfi is a lending and borrowing platform powered by blockchain technology. It is built on the Solana network. Marginfi offers exclusive access to native yield, embedded risk systems, and off-chain data plug-ins.
The following features of Marginfi make it a good investment option in the coming years.
- End-to-End Risk Engine: Marginfi has a dedicated risk management mechanism that constantly monitors the health of each associated bank. The system considers the entire protocol’s risk.
- In-House and External Liquidators: Marginfi protocol uses in-house and external liquidators to ensure efficient and timely liquidation of the protocol.
- Market Depth and Recovery Modeling: Marginfi collects data to model market depth and recovery time. This enables predictions of future liquidity in various market scenarios.
- Dynamic Risk System: Marginfi plans to implement a dynamic system for risk management by updating live bank updates directly from risk models. This paves the way for a dynamic and real-time risk management system.
- Global Borrowing and Lending: The protocol enables the borrowing and lending of margins under a unified global context. The whole process of lending and borrowing will be streamlined for traders.
- Leverage Trading: Marginfi plans to leverage the benefits of trading by empowering traders to maximize their market participation.
- Comprehensive Market Access: Traders can access the market consisting of over 100 DeFi projects on Solana, including spot, futures, and options markets.
The Marginfi protocol has many use cases.
- Yield aggregators
- Decentralized Stablecoins
- Leverage Trading Platforms
- Automated Investment Advisors
- Liquidity Pools for DeFi Exchanges
- Crypto Savings Accounts
- Flash Loan Arbitrage Bots
- Collateralized NFT Loans
- Decentralized Insurance Platforms
- DAO Treasury Management
Marginfi Airdrop: Eligibility Criteria
As Marginfi is built on the Solana blockchain, you should keep ready a wallet that is compatible with the Solana network. You should connect this wallet with the Marginfi airdrop page so that you receive your share of the airdrop tokens directly in the wallet.
The qualification criteria for the 2024 version of the Marginfi airdrop is not announced yet. However, your eligibility is determined by the points you earn through your engagement with the platform. The protocol has instituted MRGN points, which are a quantitative measurement of their engagement with the platform.
There are three types of MRGN points.
1️⃣Lending Points
Any user with current deposits on Marginfi earns 1 point for each dollar lent. Points depend on the time of lending. If you have lent the most dollars for a prolonged period, you will get an up hand in the lending points.
2️⃣Borrowing Points
Borrowing points on the MarginFi protocol is more than the lending point. Users can earn 4 points per day for each dollar they borrow. They can in turn lend the tokens they borrowed to earn more points.
3️⃣Referrals
You can also earn MRGN points through referrals. A referral will earn you 10% of the points your friend earns.
How To Take Charge Of Your Share Of The Marginfi Airdrop?
Here are the steps to be followed to claim your share of the Marginfi when it is announced.
- Visit the Marginfi website.
- Connect your Solana-compatible crypto wallet to the website. Fill it with the required amount of SOL tokens to facilitate lending and borrowing on Marginfi.
- You can lend and/or borrow tokens to earn the respective points.
- You can also “stake”, “swap”, and “bridge your SOL tokens of the platform.
- Earn a maximum number of MRGN points through these activities.
- Refer your friends to the Marginfi platform to earn more points.
- After you have earned the maximum possible number of points, wait for the airdrop event when your points will be materialized to Marginfi tokens.
The Bottom Line
As far as we understand marginfi is a platform where you can invest your time and resources to earn big in the cryptocurrency market. By investing in Marginfi you get benefit from the various use cases offered by the platform. So hurry up and engage with the platform regularly to reap maximum benefits from this airdrop event.
