Marginfi
EndedMarginfi was one of the first DeFi protocols to run a points programme, starting in July 2023. We could not confirm the current status of any MRGN distribution.
Airdrop Details
| Reward Type | MRGN (points programme) |
|---|---|
| Blockchain Network | Solana |
| Industry / Category | Lending |
| Ecosystem | Solana |
| Time Required | ~ 10 Minutes |
| Eligibility | Task Based |
| End Date | Ongoing |
About The Project
Marginfi is a lending protocol on Solana. It announced a points programme in July 2023, and early guides describe lending at one point per $1 per day, borrowing at four points per $1 per day, and referrers receiving 10% of the points their referrals earn.
A listing says the accumulated points led to an airdrop of the native MRGN token, but that page is undated.
Why This Airdrop Matters
Because points were tied to deposits and borrowing, they rewarded locking capital and taking on debt. Borrowing earned four times as many points as lending, which encouraged leverage, and leverage in a lending market can lead to liquidations.
The programme was controversial. DL News reported that users left Marginfi amid frustration over the airdrop, and said tokens allocated for Marginfi users had not been distributed over a period of three weeks. The Defiant reported that the CEO resigned amid the points controversy and a dispute with SolBlaze, a Solana staking operation. Promotional pages dated 2026 claim that points are convertible to MRGN or other protocol rewards, but they provide no verifiable detail, so we discount them.
We could not find a current status for points or any MRGN distribution, so the page records the history and the unknowns. The lesson from the dispute is practical: points programmes are run by teams that decide how points are counted, and disputes over counting can damage trust quickly.
If you hold MRGN or old points, check the official channels for announcements before acting on any page that says it can convert them.
The episode is a useful case in how points programmes can go wrong, and it is easy to summarise. The rules were set by the team, the counting was opaque, users locked capital based on a promise, and when the result disappointed them there was no neutral body to appeal to. If you consider a points programme, ask who counts the points, whether the rules are published and what happens if you disagree.
Participation Guide
Use Marginfi, if at all, as a lending venue with its own risks: smart contracts, oracle prices and liquidation. Do not borrow just to boost points, since the interest and liquidation risk are real costs. Check the official site and announcements for current terms, and be wary of 2026 promotional pages that promise conversions.
Connect Wallet
Connect your wallet using only official verified links.
Join Community
Follow social accounts and join community channels.
Complete Tasks
Execute platform tasks, quests, or testnet actions to earn points.
Claim Rewards
Track your eligibility and wait for the official claim dates.
Detailed Tasks Requirements
- Points: 1 per $1 lent per day, 4 per $1 borrowed per day.
- Referrers earned 10% of referrals' points.
- A points controversy and a CEO resignation were reported.
Frequently Asked Questions
Lending earned 1 point per $1 per day and borrowing 4 points, per early guides.
Users complained about the airdrop, and the CEO resigned amid a dispute with SolBlaze.
We could not confirm any current distribution.
Unverified. Check official channels.
