Pantera Looks to Buy Discounted Solana While Kamino Sets an Airdrop in April

Pantera Capital is looking to purchase Solana tokens as soon as possible. The prices of this crypto coin went up almost 600% over the past year, which makes it super attractive on the market.

But, Solana was also in the news for a different reason. The platform DeFi protocol Kamino sets the airdrop of its KMNO token for this April. This featured airdrop will give out rewards to its users based on their total amounts of points.

Pantera Capital Is Investing in Solana Tokens

The cryptocurrency fund Pantera Captial is after is looking for some fresh capital so it can purchase SOL tokens. According to Bloomberg, it seeks to buy the coins at discounted prices from the troubled FTX estate. In the past few hours, the SOL tokens went up 2.2%, which in the past 24 hours contributed an 8% gain.

This firm is pitching the Pantera Solana Fund to its investors. It’s noting that it has a chance to purchase up to $250 million of SOL coins. But, the purchase will be at a 39% discount below the 30-day average value of $59.95.

Pantera would vest the purchased tokens for at least 4 years and it may give FTX a chance to liquidate its SOL holdings. This action will free up funds for its creditors. The firm was aiming to conclude the funding by the end of last month. But, it managed to raise some of the money by its deadline.

It’s worth mentioning that FTX was a well-known crypto exchange owned by Sam Bankman-Fried. As you may know, he is now a convicted fraudster. FTX was an early SOL backer that managed to hold on to millions of dollars worth of tokens.

In 2023, SOL was one of the top-performing major crypto coins. Over the past year, it went up nearly 600%, which is 3 times bigger than Bitcoin’s 200% increase.

Kamino’s Tokens Airdrop in April

Kamino, a Solana-based DeFi protocol, is planning to airdrop its KMNO coin this April. This news comes after it revealed a snapshot of certain eligible users on the 31st of March.

A contributor to Kamino known as Thomas commented on this upcoming airdrop. He stated that the amount of points a user has will contribute to the amount they will receive in tokens. Thomas also explained the mechanism it utilizes to prevent airdrop farmers from attacking the system with numerous wallets.

Kamino is a crypto platform for lending, borrowing, and earning yield. It does that via a variety of trading strategies on coins in the Solana ecosystem. In 2023, it managed to deploy a points program to encourage its users and prepare them for an airdrop.

Thomas also said that the KMNO token will have its use as a governance asset from launch day. He then noted that the holders will eventually have an influence over the incentive programs by Kamino.

The featured token will have a supply of 10 billion, 10% of which will appear on the market upon its April debut. Its initial community will get a distribution of another 7% of the total supply.