OKX Wallet Solana Super Season: A Guide to Airdrop and Point Farming

Dear OKX customers,
With the launch of Solana Super Season, the OKX Wallet team has put together a guide on how you could efficiently use your SOL to gain as much exposure to any potential airdrops coming in the near future.

Airdrops have been popular in the cryptocurrency space, although the most attention is usually on Ethereum, with airdrops rewarding early users of a project several thousands of dollars just for participating. Some examples of high-value airdrops include Uniswap (valued at 6.43 billion USD), Apecoin (valued at USD 3.54 billion), and DyDx (valued at USD 2.01 billion)*.

While the attention was previously on Ethereum protocols, we have seen this attention shift with the recent rally of Solana and the corresponding airdrops. In December 2023, we saw $1.36 billion worth of $BONK and $311 million worth of $JTO airdropped bringing attention now to the Solana blockchain and the many new protocols building on it.

Points has also recently gained traction as the narrative for protocols that are hinting at future airdrops, creating a leaderboard for those who engage with their protocol. The success of the concept of points as a tool for driving traffic to new protocols can be seen in many cases, one such example by the case of Blur overtaking Ethereum NFT marketplace volume from long-time market leader OpenSea in just a span of a few months.

Below we will go through the different protocols expected to airdrop its users in 2024 and how you could navigate these with your SOL, no matter whether you have is 1 or 100 SOL. Please note that this guide is not guaranteed to make you eligible for airdrops, and there will be risks associated with interacting with several new protocols.

Check out the Solana Super Season now.

The Guide

Some tips before you start:

• Head to the DeFi tab on OKX wallet and stake your SOL through Marinade Finance to receive bonus yield and the Liquid Staking Token (LST) mSOL, which can also be used in the steps below.
• Follow OKXWeb3 to stay up to date about new yield bonuses and rewards.

Step 1: Head to OKX Wallet

1. Once on OKX wallet, go to the Discover tab and click Cryptopedia: Solana Season.
2. Make sure to deposit SOL in order to interact with each DApp.

Step 2: marginfi

1. Connect your OKX Wallet
2. Lend out either your SOL or any other asset that you may have on the Solana Blockchain. You are able to withdraw any lent assets at any time
3. Borrow an asset other than the asset your lent out, preferably SOL, a stablecoin or other asset with lower volatility. In the example below, the wallet is lending out BLZE and borrowing SOL.
   Note: Borrowing more volatile assets may result in needing to pay back a much higher dollar value in the corresponding token. Borrowing LSTs may also result in higher repayments. Note that borrowing pools may be full, it is recommended to wait until intended pools are available instead of borrowing volatile tokens.

How does the MarginFi point system work?
The MarginFi airdrop will be based on a point system. At the time of writing, users will earn 1 point per dollar value lent, and 1 points per dollar value borrowed, but 4 points per dollar balue borrowed of an LST e.g. mSOL or bSOL.

Step 3: Kamino Finance

1. Connect your OKX Wallet
2. Lend out either your SOL or any other asset that you may have on the Solana Blockchain. You are able to withdraw any lent assets at any time
3. Borrow an asset other than the asset your lent, preferably SOL, a stablecoin or other asset considered more stable. In the example below, the wallet is choosing to supply (lend) SOL, and borrow USDC.
   Note: Borrowing more volatile assets may result in needing to pay back a much higher dollar value in the corresponding token. Borrowing LSTs may also result in higher repayments. Note that borrowing pools may be full, it is recommended to wait until intended pools are available instead of borrowing volatile tokens.

How does the Kamino Finance point system work?
The Kamino Finance airdrop will be based on a point system. At the time of writing, we know that the points distribution will be dynamic and will be changed by the Kamino Finance team based on necessary pool amounts. Borrowing or lending pools may be full, so it is recommended to borrow assets that are considered more stable.

Step 4: Jupiter

1. Connect your OKX Wallet
2. Swap any asset for another asset, preferably two more stable assets. In the example below, the wallet is swapping SOL for USDC. Swapping more frequently and higher values may mean an increased chance at receiving the airdrop.

How does the Jupiter point system work?
The airdrop is confirmed to be January 31, 2024, at the time of writing. It is assumed that swapping on Jupiter will increase points.

Step 5: Meteora

1. Connect your OKX Wallet
2. The aim is to provide liquidity to a SOL - SOL LST pool or USDT - USDC pool. This is because the values have a high chance of staying proportianate to each other. Search for the LST or stable coin pool you want to deposit into. In the example below, the wallet is searching for mSOL.
3. Select the amount of bSOL and SOL you would like to deposit. If 'Balanced Deposit' is on, this will automatically choose the balance of tokens. In the example below, the wallet is trying to supply liquidity but does not have any bSOL. You can either buy mSOL on the OKX DEX or by staking on OKX DeFi with Marinade finance. You can withdraw the amount you deposited at any time.

How do we know there is an airdrop?
Meteora has written that their 'stimulus pool' or 10% $MET allocation will be distributed to LP providers.

Step 6: Sniper

1. Connect your OKX Wallet
2. Buy an NFT. Below the wallet has searched for the 'Homeowners Association' and is selecting one to buy.
3. List your NFT. Below the wallet selects the NFT intended to sell and lists it.

Note
(1) Interacting with DApps may involve swapping, trading, staking, lending or borrowing.
(2) Interaction with a new DApp may expose you to risk of smart contract vulnerabilities. Interacting with more DApps, increases this risk.
(3) Borrowing more volatile tokens or liquid staking tokens (such as bSOL, mSOL, or JitoSOL) may cause the value to increase whilst you are borrowing, meaning the total cash value that is needed to pay back will be higher. To minimise this risk, borrow more stable assets such as stablecoins or the native currency SOL.
(4) Any APY or APR stated is the value at the time of writing. APY and APR are subject to change according to the terms and conditions or the related DApp
(5) Users should manage risks on their own when participating.

Project Introductions

marginfi
Marginfi is a decentralized portfolio margining protocol for trading on Solana. The protocol gives traders a unified account to access margin, compose a portfolio, and improve capital efficiency across underlying trading protocols.

Kamino
Kamino vaults automatically manage Solana DEX concentrated liquidity (CLMM) positions, using quantitative models to set & rebalance ranges, while auto-compounding fees & rewards.

Jupiter
Jupiter is the key liquidity aggregator for Solana, offering a wide range of tokens and best route discovery between any token pair.

Meteora
Meteora is DeFi’s first dynamic yield infrastructure, starting with highly capital-efficient AMM pools built on top of this new layer. The liquidity of any protocol built on this yield infrastructure can be allocated to various lending platforms, and the ratio is adjusted dynamically every few minutes for yield optimization.

Sniper
Sniper, or SOLSniper, is a NFT trading terminal that provides real-time insights into price movements, listing activities, and customizable options. It is a tool that offers a comprehensive view of the NFT market, empowering users to make informed trading decisions.

How to Participate?

(1) Download the OKX App or ensure that the app version isn't lower than 6.27.0. Open the App and select Wallet from the top toggle
(2) Create a wallet or import an existing one. Then, tap Discover tab at the bottom to access the Discover page, and tap Cryptopedia: Learn to Earn
(3) Tap Solana Season to access the interactive page, and choose the DApp you want to interact with
(4) After completing the quest, wait for 10 minutes and then tap Verify

See all OKX Solana events here.

Terms and Conditions

• New or existing OKX Wallet customers participating in the Cryptopedia Solana Season need to interact with partner DApps and complete the specified tasks. Any final results of the event will be announced on the OKXWeb3 (@okxweb3) Twitter accounts.
• Rewards may be distributed to the user's wallet address during the Campaign Period or at such other time to be determined by the Organiser, including after the Campaign Period.
• Each of OKX Wallet and the Organiser reserves the right to exclude any wallet address from participating in this Campaign.
• Without prejudice to the foregoing, OKX Wallet and the Organiser also reserve the right to withhold rewards from and revoke the eligibility of any user or wallet address to participate in this Campaign whom they reasonably suspect is engaging in dishonest or abusive conduct, including but not limited to circumstances where users enter multiple wallet addresses to obtain additional rewards, engage in wallet address churning to earn rewards, engage in money-laundering or wash trades, or engage in any other illegal, fraudulent or harmful activity. Users and/or wallet address(es) reasonably suspected of engaging in such conduct may be banned from participating in any future campaigns on the Site and/or Platform.
• Only transactions settled using the OKX Wallet in accordance with the Campaign page and during the Campaign Period shall qualify for any reward under this Campaign.
• By using or accessing the Site, Platform, Services, a user agrees to be bound by the OKX Web3 Ecosystem Terms of Service and OKX Web3 Ecosystem Privacy Policy ("Site Terms").
• OKX Wallet and the Organiser reserve the right to interpret, modify, suspend, cancel or terminate this Campaign and/or any of the Campaign Terms at any time for any reason without prior notice. In the event of conflict, OKX's interpretation shall be final.
• If there are multiple language versions of these terms and conditions, the English version shall prevail in the event of conflict.
• OKX Wallet expressly disclaims any and all responsibility and liability for any technical, pictorial, typographical, editorial or other error or omission in this Campaign or these terms and conditions.
• For more information about OKX Wallet, please visit https://www.okx.com/web3

Disclaimers

• This Campaign is (i) not an offer, recommendation or solicitation of an offer to buy, sell or otherwise deal in any digital asset; and (ii) not intended to provide any advice or recommendation (regardless of investment, trading accounting, legal, tax or otherwise). This Campaign is also not intended for distribution to, or access by, any person in a jurisdiction where such distribution or access would be contrary to applicable laws or regulations. Persons accessing and/or participating this Campaign are required to inform themselves about and observe such restrictions. Digital assets are speculative and highly volatile, may become illiquid at any time, and are high-risk. Persons dealing in digital assets may lose the entire value of their assets.
• The value of digital assets, including but not limited to stablecoins, can and do fluctuate greatly from time to time. The value of any reward under this Campaign at the time a participant qualifies for such reward may not be equal to the value of such reward at the time of distribution to the participant. Due to such fluctuations, users may experience a significant increase or decrease in the value of their assets at any given moment.
• Participants of this Campaign are responsible for all applicable taxes, fees, costs and expenses (which may include but is not limited to connection, installation, service, gas fees and transaction costs) relating to the receipt and use of any Campaign rewards. © 2023 OKX Wallet. All right reserved.

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OKX Team
January 19, 2024