Platforms rarely provide clear eligibility criteria to qualify for their token airdrop. However, Kinza Finance has officially announced an airdrop of its token for early 2024.
Key points regarding the Kinza Finance Airdrop
- Project: Kinza Finance
- Airdrop: Confirmed
- Duration: 5 minutes
- Cost: Paid
What is Kinza Finance?
Kinza Finance is a decentralized finance (DeFi) platform that allows users to lend, borrow, and earn interest on their digital assets. The platform is built on the BNB Chain blockchain and uses smart contract technology to automate transactions.
The platform plans to launch its $KZA token while distributing 5% of the total supply to its users. This distribution is scheduled for early 2024. According to the Cyrptorank platform, Binance Labs is one of the major investors in Kinza Finance.
How to be eligible for the Kinza Finance airdrop?
In order to interact with the Kinza Finance platform, you must first have a wallet that supports the BNB Chain and/or opBNB network. Below are several compatible digital wallets to download.
Please note that interacting with the platform using the opBNB network may also qualify you for the opBNB airdrop. If you want to learn more about the opBNB airdrop, take a look at our comprehensive guide on the opBNB airdrop.
Wallet opBNB/BNB Chain:
If you want to use your Metamask wallet to follow this guide, you will need to add the BNB Chain or opBNB network to your wallet.
To do this, go to the ChainList platform and search for the BNB Chain network. Then click on ‘Connect Wallet’ and add the network.
How the rewards system works
The Kinza airdrop points system gives users an idea of the amount of airdrop they can receive after the Token Generation Event (TGE) based on their Total Value Locked (TVL) deposited and time spent on the protocol. The more liquidity a user has on the platform, the more points they earn and the larger their eligible airdrop distribution.
During the TGE and before the KZA airdrop, the points system will be the main factor determining the distribution of the KZA airdrop. The more points you have, the larger your airdrop. However, this is not a 1-to-1 conversion – 1 airdrop point does not equal 1 KZA.
To view the airdrop points you have earned, go to the Airdrop section of the Kinza DApp. There, you can see your airdrop points. Airdrop points are updated daily at 00:00 UTC, based on the current value of the liquidity you have provided.
Points are generated from a time-weighted TVL. Depositing $100 TVL for one day will generate 1 point, the same goes for depositing $50 TVL for 2 days or $1 TVL for 100 days.
It is also mentioned that campaigns/events and other actions may allow you to earn additional points to increase your allocation.
1 – Lend tokens on Kinza
Start by visiting the Kinza Finance platform and connect your wallet to the BNB Chain network.
Then click on the ‘Market’ section, where you will see the lending pools offered by Kinza Finance. Choose the token you want to lend and click on it.
Once you have selected your token, click on the ‘Supply’ button to deposit your tokens. Then confirm the transaction.
2 – Borrow tokens on Kinza
After depositing your tokens, you will start earning airdrop points on the platform. This collateral also allows you to borrow tokens on the platform, although it is not specified whether this feature allows you to earn additional points.
Moreover, borrowing tokens allows you to create a liquidity loop that allows you to deposit liquidity again.
Please note that using this feature can result in a total loss of your funds, so be sure to consider the risks associated with borrowing before following this step.
To borrow tokens, go back to the ‘Market’ section and click on the token you want to borrow.
Then click on the ‘Borrow’ button and enter the amount you want to borrow. Click on the ‘Borrow’ button again and confirm the transaction.
If you want to withdraw your funds from the platform, start by repaying the tokens you have borrowed by clicking on the ‘Repay’ button, and then click on the ‘Withdraw’ button for the token you have deposited.
3 – Invite friends to the platform
The platform also offers the opportunity to share your invitation code, which will allow both users to earn an additional 10% of points on Kinza.
You will find your invitation code by clicking on the ‘Airdrop’ button. You can also track your ranking based on your number of airdrop points on this page.
Important details about the Kinza Finance airdrop
According to team announcements, there may be other campaigns that allow you to earn airdrop points coming soon. This article will be updated if any additional tasks are added. Be sure to follow the announcements on the @kinzafinance X account as well as on the Kinza Finance Discord server.
