Dear OKX customers,
With the launch of Solana Super Season, the OKX Wallet team has prepared a comprehensive guide to help you maximize your SOL holdings for potential airdrops and point farming opportunities in the coming months.
Why Participate in Solana Airdrops?
Airdrops have become a cornerstone of cryptocurrency ecosystems, offering early adopters substantial rewards. While Ethereum-based projects previously dominated this space, Solana has emerged as a major player with high-value distributions like:
- $BONK ($1.36 billion)
- $JTO ($311 million)
- $JUP (anticipated)
👉 Discover current Solana opportunities
Points systems have also gained traction as precursors to airdrops, creating competitive leaderboards that reward protocol engagement. This model proved successful for platforms like Blur, which rapidly surpassed OpenSea in NFT trading volume.
Preparation Checklist
Before diving into specific protocols:
- Optimize Your SOL: Stake through Marinade Finance to earn mSOL (liquid staking token) while maintaining flexibility.
- Stay Informed: Follow OKXWeb3 for real-time updates on bonus rewards.
- Risk Awareness: Understand that interacting with new protocols carries smart contract risks and potential volatility exposure.
Step-by-Step Protocol Guide
1. MarginFi: Lending and Borrowing Strategy
Implementation:
- Connect OKX Wallet
- Lend SOL or other assets
- Borrow stablecoins or SOL (avoid volatile assets)
Points System:
- 1 point per $1 lent
- 1 point per $1 borrowed (4x multiplier for LSTs)
👉 Maximize your MarginFi points
2. Kamino Finance: Automated Yield Optimization
Implementation:
- Connect wallet
- Supply liquidity (SOL recommended)
- Borrow stable assets like USDC
Key Note: Points distribution adjusts dynamically based on pool demand.
3. Jupiter: Liquidity Aggregation
Implementation:
- Execute swaps (SOL ↔ USDC recommended)
- Higher volume/frequency may improve airdrop eligibility
4. Meteora: Dynamic Liquidity Provision
Implementation:
- Deposit into SOL/LST pools
- Maintain balanced positions
Confirmed: 10% of $MET supply allocated to LPs.
5. Sniper: NFT Trading Platform
Implementation:
- Purchase and relist NFTs
- Focus on established collections
Protocol Overviews
| Protocol | Category | Key Feature |
|---|---|---|
| MarginFi | Lending | Portfolio margining |
| Kamino | Vaults | Auto-rebalancing CLMM positions |
| Jupiter | DEX Aggregator | Best-route swapping |
| Meteora | AMM | Dynamic yield optimization |
| Sniper | NFT Platform | Real-time trading analytics |
Participation Guide
- Update OKX App to v6.27.0+
- Access Cryptopedia via Discover tab
- Complete Solana Season quests
- Verify after 10 minutes
Risk Management Essentials
- Monitor borrowing positions daily
- Prefer stablecoins over volatile assets
- Diversify across protocols
- Never invest more than you can afford to lose
FAQ
Q: How much SOL do I need to participate?
A: Strategies work with any amount, though 1+ SOL provides more flexibility.
Q: When will airdrops be distributed?
A: Timelines vary by project. Follow official channels for announcements.
Q: Are points guaranteed to convert to tokens?
A: No, but they're strong indicators of future distributions.
Q: What's the tax implication?
A: Consult a crypto tax professional in your jurisdiction.
Q: Can I use multiple wallets?
A: Sybil prevention measures may disqualify duplicate entries.
Terms and Conditions
- Rewards distributed at organizer's discretion
- OKX reserves right to modify campaign terms
- English terms prevail in case of discrepancies
- Full terms at OKX Web3
Disclaimer
Cryptocurrency investments involve substantial risk. This guide represents educational content only, not financial advice. Always conduct your own research before participating in DeFi protocols.
OKX Team | Updated January 2024