DeFi Lender MarginFi Fuels Growth With Loyalty Points, Spurring Talk of ‘Solana Renaissance’

MarginFi has doubled its user base in two weeks after unveiling a loyalty points program that some believe will lead to a token airdrop.

MarginFi airdrop?

MarginFi’s points system tracks “how much a user has contributed to the ecosystem’s success,” according to a July 3 blog post. The program rewards borrowers with four points per dollar deposited, while lenders get one-for-one. The longer the term, the more points earned.

"The idea is to quantify participation within the mrgn economy," said the project's lead engineer Jakob Povsic. "We’ve identified some behaviors, some attributes" worth incentivizing – namely borrowing and lending. "It seems like points are motivating people to participate."