How to Qualify for MarginFi Airdrop on Solana
MaringFi is a decentralized lending protocol on Solana. They are using a similar point system to Jito to track our activity on-chain.
Reflecting on the Jito airdrop where approximately 10,000 people received tokens, it’s evident that this could be a significant opportunity.
The goal? Reaching the top 10–20k to receive a significant airdrop.
https://www.mfi.gg/refer/e739ef58-eaed-439a-afc0-6275bd99947b
Getting Started with MarginFi
To begin, ensure you have funds in your Phantom wallet, min $50 to $100, but more funds means more points. The initial step involves minting some LST. Head to the Stake section and stake your Sol to mint LST.
Next, lend your LST. In case it’s at maximum capacity, a short wait might open up the opportunity for addition.
Feel free to also lend any other token of your choice.
After lending, you can now borrow against it. Go to the Borrow tab, and borrow any token of your choice.
The tokens that you borrowed can be used to be lent again into the platform. This strategy is called looping, but repeating it many times comes with a high risk, therefore, I only do it twice.
Point System
For every dollar that you lend, you get 1 point. For every dollar you borrow, you get 4 points. These points are added every 24 hours. In addition, you can also share your referral link to earn more points.
https://www.mfi.gg/refer/e739ef58-eaed-439a-afc0-6275bd99947b
Most likely, this will serve as metrics for the airdrop. The higher your points, the higher your airdrop should be.
You don’t need to add/remove funds to “increase volume”. This is not a Dex or blockchain, therefore, lending and borrowing is enough to get the airdrop. Leaving the funds for as long as possible is the best way to qualify.
Our goal is to get our global ranking as close as possible to the top. Currently, there are over 100k users, but no worries, most of them have no points.
Currently, hitting 1k in points should have you in the top 50–60k. Therefore, if you are using significant size but also leaving your funds to get more points, we should be able to get below 30k global rank with an average of $200.
Removing your funds
To remove your funds, you’ll need to pay off your loans, which is obvious. Once your loan is paid off, then go to the lending tab and withdraw your funds.
If you would like a more interactive guide, check out my YouTube Video.
Disclaimer: This is not financial advice, I am just a guy with a laptop sharing his opinions and experience. This is for entertainment purposes only. Always Do your own research before investing.
