Venom Airdrop 2024: Launch, Eligibility, Steps to Claim?
Key takeaways
- Venom Network provides a blockchain-based solution focusing on real-world applications with top-notch security and scalability.
- There is no official confirmation regarding the Venom airdrop; however, the whitepaper outlines that approximately 22% of the initial token supply is allocated to the community.
- Given that the ecosystem is currently in its testnet phase, participating in this airdrop is completely free.
What is Venom Network?
Venom Network is a new layer-0 blockchain designed to bridge the gap between real-world applications and the blockchain ecosystem. Its primary goal is to facilitate the seamless integration of traditional financial transactions with the blockchain.
This platform ensures a high level of security and performance, positioning it as an optimal choice for decentralized applications. Furthermore, Venom aims to serve as a central hub for the issuance and management of central bank digital currencies (CBDCs), thereby strengthening the connection between traditional finance and decentralized finance.
Possibility of Venom Airdrop Launch
The chance of an airdrop usually depends on the company’s decision. However, in the case of the Venom Network, there’s a hint that an airdrop might happen.
The Venom whitepaper mentions allocating 22% of the $VENOM token to the community, equating to over 1.5 billion tokens for the community.
Just speculation: Based on community hints and comments, if we were to assess the probability of a Venom airdrop, we would rate it at 80%.
Furthermore, the Venom Foundation has amassed a substantial amount, raising $1 billion for Web3 projects in their ecosystem. This significantly boosts the possibility of a token airdrop.
Steps to qualify for the potential Venom Airdrop tokens
The Venom Network has been a hot topic within the airdrop farmer’s community, especially as the project is in its testnet stage, allowing free participation in this ecosystem.
Farming an airdrop has consistently been popular and lucrative within the community, typically requiring minimal investment. However, in this case, participation is free of charge, making it worthwhile to participate.
To increase your chances of receiving a Venom airdrop, it’s essential to complete the following steps, positioning yourself favorably for a potential token airdrop.
If you wish to take additional steps for an added advantage, consider exploring the Venom Network and engaging with its various products available on Testnet.
Here’s a quick overview of the steps for this airdrop:
- Set up Venom wallet
- Earn Venom tokens via Tasks
- Use Venom Bridge
- Stake Venom Token
- Create Venom ID
- Mint an NFT
- Join the Discord community
- Get extra testnet Venom tokens
Keep reading for a detailed explanation of all these steps.
Note: As Venom Network is in its testnet stage, users may encounter slower transaction speeds due to ongoing ecosystem development and high transaction volumes.
1) Setup Venom wallet
The initial step to participate in Venom’s testnet involves creating an official Venom wallet, which is accessible through web extensions, app stores, and play stores.
If you haven’t obtained a Venom wallet yet, visit the official website to create a new one. Once your wallet is set up, you can proceed with the remaining steps to join the testnet.
Note: If you encounter difficulties setting up a wallet, refer to the Official Wallet Guide the Venom network provides.
2) Earn Venom tokens via Tasks
The Venom network has provided specific tasks for users to earn $VENOM tokens while exploring various functions available on the testnet.
Upon completing the given tasks, you’ll receive free Venom testnet tokens, enabling you to begin your testnet journey.
To proceed:
- Visit https://venom.network/tasks.
- Connect your Venom wallet to the site.
- Log in to the site using your X (formerly Twitter) account.
- Complete the task by following the Venom Foundation page.
Upon completion, you will receive 50 testnet $VENOM tokens.
Note: The Venom testnet tokens received are intended solely for testing purposes and hold no monetary value.
3) Use Venom bridge
Venom Bridge serves as a decentralized cross-chain bridge, facilitating asset transfers between different blockchain networks.
This platform, developed and deployed by the Venom Foundation, is the official built-in platform. Interacting specifically with this platform is essential.
To proceed:
- Visit https://testnet.venombridge.com/bridge.
- Connect your Venom and EVM (MetaMask) wallets to the platform.
- In the ‘From’ field, select ‘Venom Testnet’, and in the ‘To’ field, select ‘Binance Smart Chain‘.
- Choose the amount of Venom tokens you wish to transfer.
- Click ‘Continue’ and then approve the transaction.
4) Stake Venom Token
Venom Stake is a platform that enables users to delegate Venom tokens to a validator and allocate them to a network to help secure its operations. By doing so, stakers can earn rewards based on their committed assets, which are distributed by staking pools.
To stake tokens, follow these steps:
- Visit https://testnet.venomstake.com/.
- Connect your Venom wallet to the site.
- Choose the amount you wish to stake and click “Stake” to initiate the process.
Additionally, you can unstake your Venom tokens at any time. Go to the “Unstake” tab, select the desired amount, and click on “Unstake” to proceed.
5) Create Venom ID
Venom ID is a name-service app for the Venom network, enabling users to efficiently manage and showcase their virtual assets on a single customizable page. Similar to ENS (Ethereum Name Service) and ZNS in the crypto space, the Venom network has introduced its own version called Venom ID.
To make use of this feature, follow these steps:
- Visit https://www.venomid.network/.
- Connect your Venom wallet to the site.
- Enter your preferred domain for minting.
- Click the “Claim” button to acquire a unique Venom ID linked to your wallet.
6) Mint an NFT
To mint an NFT on Venom Art, the first step is connecting your Venom wallet to the site (https://testnet.venomart.io/).
Select an NFT of your choice for minting, and consider exploring the “Venomart Venom Collection”, as it is cheaper compared to other collections.
Next, use your Venom tokens to mint your preferred NFT. After minting, you can proceed to list it for sale.
7) Join the Discord community
Venom has established an official Discord community for users to exchange experiences and gain further insights into the Venom network.
Ensure to take screenshots of all the NFTs you’ve collected upon completing the tasks.
Next, navigate to the #completed-task channel on the Discord server. Share the screenshots of your NFTs along with your wallet addresses, and also contribute by leaving a comment about your experience.
You can join the official Venom Discord server via this link.
8) Get extra testnet Venom tokens
If you happen to run out of Venom tokens during tasks, there’s no cause for concern, as the Venom Foundation provides several task programs enabling users to earn additional free Venom tokens.
To acquire extra testnet Venom tokens, follow these steps:
- Visit https://faucet.venom.foundation/.
- Log in to the site using your GitHub account.
- Upon logging in, you’ll find a range of tasks to earn extra testnet Venom tokens.
After receiving the additional tokens, consider repeating the mentioned steps to enhance your position for a potential airdrop.
Read More
Additional Resources for the Venom Airdrop
Venom Scan: A Blockchain Explorer developed by the Venom Network, enabling users to extract, visualize, and review blockchain network metrics. This tool facilitates tracking your progress and transactions within the ecosystem.
Venom Blog Post: The Venom Network shares guides and information for its users on its official Medium blog. If you encounter any issues within the ecosystem, you can refer to their Medium blog post for assistance.
Bottom Line
Airdrops have consistently been a speculative topic within the community. Engaging in tasks ahead of time within each ecosystem often results in receiving tokens as rewards in the future.
In essence, the most beneficial approach involves actively testing the testnet and participating in every campaign across the Venom network, positioning oneself well for a potential Venom airdrop.
For more information, visit the Venom Network’s official website, which offers comprehensive details about the project. If you have any further queries or concerns regarding Venom, the website is an excellent starting point to find answers.
FAQs about the Venom Airdrop
1) How much is the Venom Airdrop worth?
There’s speculation circulating within the community that the Venom airdrop could potentially range from $3,000 to $5,000. It’s crucial to note that these figures are entirely speculative.
2) Is Venom launching its own token?
As per the Venom whitepaper, the company has outlined plans for the $VENOM token launch during the mainnet launch. However, specific details regarding the mainnet launch have not been announced yet.
3) When is the Venom airdrop expected to occur?
There hasn’t been any official confirmation regarding the airdrop. However, speculation within the community suggests that the token airdrop might coincide with the mainnet launch, anticipated to occur in early 2024.
4) Does it require an initial investment?
This specific airdrop stands out as it doesn’t demand any investment, not even gas fees, since the project is currently in its testnet phase. All the steps mentioned above can be completed without any cost.
Disclaimer: This content piece is entirely based on the author’s opinion. It does not provide financial advice and individuals should conduct their own research before making any financial decision.
Wao, amazing article. Fully detailed and all the questions are answered. Thanks