The Solana ecosystem at the present time has the same thing in common as other DeFi ecosystems: it is quite quiet, but that will not mean that retroactive or airdrop opportunities will be less. In this article, Weakhand will guide you on how to airdrop Marginfi, a project in the Lending & Borrowing segment on the Solana ecosystem.
To understand more about Solana, people can refer to some other articles below:
- What is MarginFi? MarginFi Cryptocurrency Overview
- What is Solana (SOL)? Solana Cryptocurrency Overview
- Series 7: Real Builder | Solana – An arduous Construction Journey
Overview of Marginfi
Marginfi is a decentralized Lending & Borrowing project built on Solana’s ecosystem, allowing users to simply borrow and lend without having to go through a third party thanks to That saves a lot of time and costs.
Marginfi successfully called for $3M at Seed Round on February 23, 2022 with the capital contribution of large investment funds such as Multicoin Capital, Pantera Capital, Solana Ventures,…
Marginfi has also launched a program called mrgn points to reward participants who use its products early. mrgn points will be convertible into tokens when the project conducts TGE. The point reward mechanism will work as follows:
- For every $1 Lending, you will receive 1 point per day.
- For every $1 Borrowing you will receive 4 points per day.
With the above mechanism, we will prioritize using stablecoins and then compound our loan amount as much as possible to earn the maximum number of points.
Instructions for Making Marginfi Airdrop
Step 1: Download Phantom wallet
- Access: https://phantom.app/download
- Proceed to download and create a Phantom wallet (secure storage of 12 seed phase words).
Step 2: Prepare tokens
- First, people need to buy and withdraw a small amount of SOL from the exchange to the Phantom wallet.
- Next, everyone needs to prepare stablecoins by bridging from other blockchains or withdrawing from CEX, then use Jupiter to swap to UXD stablecoin.
Step 3: Lending & Borrowing
- Visit: https://app.marginfi.com/
- Access Lend, select Supply UXD for all UXD amounts.
- Select Borrow and borrow UXD at a maximum of 80% then continue repeating the loop.
- Everyone can check the points added every day in the points section.
Step 4: Perform social networking tasks
- Join Discord Marginfi: https://discord.gg/mrgn
- Participate in events on Galxe:
Summary
Above is the complete Marginfi airdrop guide from Weakhand, hoping that everyone will be able to earn huge airdrops from the project in the future.
