Solana Airdrops & Incentives - What to Expect Over the Next Two Months

Solana’s season of giving continues, with ecosystem pillars like Jupiter, Sanctum, and Marinade distributing rewards and offering generous incentives.

solana airdrops

July 4, 2024 by Finn Miller

Despite uncertainty across the wider crypto markets, the Solana ecosystem continues to reward its loyal users with a wealth of liberal incentives and airdrops.

Which rewards programs and incentives should you have on your radar?

Jupiter ASR (Active Staking Rewards)

Ever since the $JUP TGE supporters and community members have been able to stake JUP tokens within Jupiter’s platform and vote on decentralized governance proposals that shape the direction and future of the protocol.

All voters and contributors, regardless of how they cast their votes, are eligible for a share of around $60M in Jupiter ASR (Active Staking Rewards). Allocations are calculated based on an individual account’s voting power and will be comprised of:

50M JUP
7.5B WEN
7.5M ZEUS
7.5M UPT
750,000 SHARK

These highly anticipated Active Staking Rewards are expected to be distributed before July 10, with an official allocation checker scheduled to go live sometime on July 5. It’s important to note that JUP claimed during the event will automatically added to your wallet’s staked amount.

Sanctum $CLOUD Airdrop

Following the success of its gamified LST loyalty program, Wonderland, Sanctum’s initial $CLOUD airdrop is slated to go live in mid-July. Attracting over 300,000 participants and amassing over $1B TVL (Total Value Locked) in early June based on DeFiLlama data, Sanctum’s CLOUD airdrop is one of the ecosystem’s most eagerly awaited events.

Sanctum's CLOUD airdrop introduces a novel approach to token distribution. With 10% of the total allocated to the event, the Sanctum has made the decision to split reward users based not only on their Wonderland XP, but also on their 'Earnestness'.

An official date for the CLOUD airdrop is yet to be announced, but it expected to go live sometime in mid-July.

Marinade Season 3

One of the largest DeFi applications by TVL in the Solana ecosystem, Marinade’s Season 3 Rewards program is well underway.

Expected to run for three months, Marinade Season 3 promises to distribute 25M MNDE tokens, currently valued at $2.7M, to community members who deepen total mSOL liquidity. Users are encouraged to earn bonus MNDE incentives by providing mSOL liquidity in three different ways:

Kamino mSOL/SOL LP Vault - Up to 12.5M MNDE tokens will be allocated to users who provide mSOL/SOL liquidity on Kamino Finance. LP providers will also be eligible for Kamino rewards.
Looping Meteora mSOL/SOL LP Tokens - Up to 5M MNDE tokens will be allocated to users who deposit into mSOL/SOL pools on Meteora and strategically loop their yield through Solend.
Discretionary LP/Partner Rewards - The remaining 7.5M MNDE tokens will be distributed to community members who deepen mSOL liquidity through various other partnerships. These partnerships are dynamic and currently undisclosed.

Kamino Season 2

Another Solana DeFi powerhouse, Kamino’s Season 2 records program is thriving in full force and scheduled to end around the end of July.

Reward allocations are calculated linearly based on points accrued through using the protocol’s various functions, including lending and borrowing markets. By staking KMNO, the platform’s native token, users receive multipliers that boost their point generation.

Kamino’s Season 2 rewards program has been further bolstered by the integration of PayPal’s PYUSD stablecoin, which has attracted over $38M in TVL at press time.

Debridge

A clear winner of Jupiter’s Round 3 LFG Launchpad candidates, Debridge’s ongoing rewards program has attracted over 470,000 unique accounts and transferred over $3.1B across different blockchains.

Accruing points through Debridge’s rewards program is straightforward, users simply need to transfer funds between chains using the protocol and by referring new users.

Additionally, point multipliers are also given to users who meet certain criteria. For example, wallets that have staked over 100 JUP tokens since May 22nd will automatically receive a 10% multiplier on points generation.

An official date for the initial airdrop and TGE of the Debridge token has yet to be announced but is anticipated to go live in early August, based on a Jupiter announcement.

Parcl Perpetual Points Season 2

As of July 1st, the Parcl Perpetual Points program has entered its second season. Expected to last for the remainder of 2024, the PPP program introduces some unique reward mechanisms.

While including standard incentives like generating trade volume and providing liquidity, users will also earn points for performing liquidations on other traders, adding another layer of competitiveness to the program.

Exchange Art Allocation Checker

Solana’s leading digital fine art marketplace unveiled the allocation checker ahead of the TGE of their native token, ART, earlier this week. A governance and utility token, ART represents a major step in the team’s vision of decentralizing the platform.

In a later announcement, the Exchange Art team revealed that ART claims would officially go live on the 7th of July from the official site.

Unconfirmed, But One to Watch...

Following the announcement of prominent investors like Solana Labs co-founder Anatoly Yakovenko, interest in Solayer’s liquid staking platform is mounting.

Claims are currently live for the first round of rewards. These have been made available for early depositors and referrers. However, little is known about what these rewards entail and their future utility.