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Kamino Foundation Unveils $KMNO Token TGE for April 30th, Reveals Comprehensive Tokenomics and Utility

Kamino Foundation Airdropping Substantial 7.5% of KMNO Token Supply to Community.

April 26, 2024 by Sheldon

The Kamino Foundation has released extensive details surrounding its upcoming $KMNO token, scheduled for launch on April 30th, 2024. This information includes tokenomics as published by Kamino Finance, and potential utility for holders. The launch will be accompanied by the "KMNO Genesis" event, an airdrop distributing 7.5% of the total token supply to the community. To be eligible for the airdrop, users had to be active on the platform prior to the snapshot taken on March 31st, 2024, rewarding existing dedicated users.

KMNO Tokenomics and Utility

Kamino Finance has outlined a distribution plan and potential use cases for the $KMNO token:

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  • Token Distribution:
    • Total Supply: 10,000,000,000 $KMNO
    • Initial Circulating Supply: 1,000,000,000 $KMNO
    • Initial Community Distribution: 750,000,000 $KMNO
  • Token Utility:
    • Staking: Users could stake their $KMNO on the platform to potentially earn boosts and increase their rewards.
    • Governance: $KMNO could be used in a future governance model for the protocol, allowing holders to potentially influence decisions on rewards, grants, revenue allocation, and risk management.

Growth Trend Continues Following Airdrop Announcement

Kamino has exhibited an impressive growth trajectory since announcing the airdrop in March. This bucks the trend seen with many airdrops where Total Value Locked (TVL) typically declines after the snapshot is taken. Kamino's robust and expanding TVL demonstrates user confidence in the platform.

The Kamino dApp welcomed over 300,000 new users in April following the snapshot. The platform currently boasts a borrow/lend TVL of $1B, accompanied by $1.4B in total assets supplied. This firmly establishes Kamino as the foremost lending and borrowing DeFi platform on the Solana blockchain.

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