A new wave of airdrops is expected for the crypto community, with particular attention on the Solana blockchain.
Today, we are interested in the Jito project. The protocol has recently announced the implementation of a point system to reward the most active users. In simple terms, those who accumulate the most points will eventually be able to exchange them for exclusive advantages.
In this guide, we will explore the steps to be eligible for the Jito airdrop.
Key points about the Jito airdrop:
- Project: Jito
- Difficulty: Medium
- Duration: 10 minutes – 1 hour
- Costs: Payable (starting from 1 SOL dollar)
What is Jito?
Jito is a liquid staking protocol developed on the Solana network. In simple terms, liquid staking allows users to maintain access to their staked liquidity. When you deposit your SOL tokens into the Jito liquidity pool, you receive JitoSOL tokens in exchange (equivalent to your deposit).
This means you have your SOL generating returns on Jito, and your JitoSOL tokens that you can use on other decentralized platforms to grow your investments.
Since the announcement of its reward system, Jito has seen a significant increase in its user base. Currently, over 6.6 million SOL tokens are staked, and nearly 50,000 users hold Jito in their wallets.
How to be eligible for the Jito airdrop?
First, you need a digital wallet that supports the Solana network. We recommend using well-known wallets such as Phantom Wallet, Solflare, or Backpack.
Now, there are several ways to earn points on Jito:
- By staking your SOL tokens on Jito: 1 point per JitoSOL
- By lending your JitoSOL tokens: 1.5 points per JitoSOL (x1.5)
- By providing liquidity on supported DEX platforms like Meteora: up to 3.5 points per JitoSOL
- By referring other users: 10% commissions
1 – Staking your SOL tokens on Jito
Start by visiting the Jito protocol: [click on this link]
Connect your wallet by clicking on ‘Select Wallet’ and choosing the wallet you want to use.
Next, click on ‘Stake Now’ to access the staking page.
Enter the amount of SOL you want to stake. Once you deposit your SOL into the Jito staking pool, you will instantly receive your JitoSOL tokens in your wallet. For every JitoSOL token held, you will receive 1 reward point each day.
2 – Lending your JitoSOL tokens on MarginFi
Another way to earn points is by using the lending service offered by decentralized protocols supported by Lido. One of these protocols is MarginFi, which provides exchange, lending, and staking services.
MarginsFi has a point system similar to Jito’s. By lending your JitoSOL tokens on MarginFi, you accumulate points on both Jito and MarginFi.
If you want to participate in the MarginFi airdrop, follow our guide (provide link). First, visit MarginFi and connect your wallet. If you do not have JitoSOL in your wallet, you can either stake your SOL on Jito or exchange SOL for JitoSOL using the Swap service on MarginFi.
Once you have JitoSOL, go to the ‘Lend’ page. Look for the ‘JitoSOL’ lending pool. Enter the amount of JitoSOL you want to lend. For every JitoSOL loaned, you will receive 1.5 reward points.
2.1 – Creating a liquidity loop via MarginFi
If you want to go further, you can create a liquidity loop. This involves lending JitoSOL, borrowing SOL, swapping the borrowed SOL for more JitoSOL, and repeating the process multiple times. However, be mindful of your health factor, which indicates the health of your position and the risk of liquidation.
3 – Providing liquidity (LP Provider) on Kamino
If you want to generate higher rewards, you can provide liquidity on DEX platforms supported by Jito. One of these platforms is Kamino, which also rewards users based on a point system. By depositing JitoSOL into eligible pools like JitoSOL/SOL, you earn points on both Jito and Kamino. Visit Kamino’s ‘Liquidity’ section and choose the pool you want to allocate your JitoSOL to. For example, the JitoSOL/SOL pool offers rewards of 2.5 points per JitoSOL deposited.
4 – Referring users
The last way to earn points on Jito is by referring other users using your affiliate link. Access your referral link on the ‘Points’ page of your account and share it on your preferred social media platforms. You will receive 10% commissions on the points earned by your referrals.
Important details about the Jito airdrop
Firstly, congratulations on following this guide until the end. The magnitude of your reward will be based on the number of points you have earned. To track your progress in the overall ranking, visit this link: [https://www.jito.network/points/]
Lastly, we recommend staying updated on Jito’s announcements by following their Twitter account.
