SatoshiVM ($SAVM) is a technology that allows Bitcoin to work with Ethereum’s EVM ecosystem. This means that Bitcoin can now create new assets and applications. SatoshiVM uses a decentralized Bitcoin ZK Rollup Layer2 that is compatible with the EVM ecosystem and uses native BTC as gas. There is a strong chance SatoshiVM will be doing an airdrop, and it will be completely FREE to participate as the tasks are all done on the Bitcoin testnet and Ethereum Sepolia testnet. Here’s our SatoshiVM ($SAVM) token airdrop guide.
Check out our SatoshiVM ($SAVM) token airdrop video guide!
What is SatoshiVM ($SAVM)?
SatoshiVM is a virtual machine that runs smart contracts on the Bitcoin network. A virtual machine is a program that acts like a computer inside another computer. A smart contract is a set of rules that can execute automatically without human intervention. The Bitcoin network is a system of computers that use a digital currency called Bitcoin.
Some of the main features of SatoshiVM are:
- Compatibility: It can run smart contracts written in different languages, such as Solidity, Rust, or C++.
- Security: It uses a technique called formal verification to check that the smart contracts are correct and do not have errors or bugs.
- Scalability: It can handle a large number of transactions per second, thanks to a technology called sharding that splits the workload among different nodes.
- Privacy: It can protect the identity and data of the users, using methods such as zero-knowledge proofs and encryption.
Will there be a SatoshiVM ($SAVM) token airdrop?
There are lots of rumours circulating Twitter that SatoshiVM will do a $SAVM token airdrop. SatoshiVM has recently launched their testnet and only the faucets and the bridges are live. The Swap feature is expected to launch soon. Therefore, we are very early, and it is worth positioning yourself now for this airdrop.
It is worth positioning yourself for the SatoshiVM because according to the leaked $SAVM tokenomics, the Fully Diluted Valuation of the $SAVM token is very low. And we have seen in other low FDV token launches that returns can be as high as 50x. So, this means that if the SatoshiVM token is launched, it will also likely result in huge returns.
How to get a potential SatoshiVM ($SAVM) token airdrop?
Here’s how to get a potential SatoshiVM ($SAVM) token airdrop:
- Set up SatoshiVM testnet on MetaMask
Go to https://testnet.svmscan.io/ and connect your wallet. Then, scroll down and click the “Add SatoshiVM Testnet” on the bottom left hand corner. Approve the transaction on your MetaMask wallet.
Alternatively, if you want to do this manually, go on MetaMask, click the top left hand button and “Add Network”. Then select “Add network manually” and type the following SatoshiVM Testnet information onto your MetaMask.
- Set up UniSat wallet
Go to https://unisat.io/ and select “Download from ChromeStore”. Follow the steps to set up your wallet. Remember to write down your seed phrase offline and keep it in a safe place so you reduce the risk of losing your funds.
On your UniSat wallet, go to “Settings” and “Address type”. Make sure that “Native Segwit (P2WPHK)” is the first selection. Then, on “Network”, make sure you are on the “TESTNET” network.
- Fund UniSat wallet with testnet Bitcoins ($tBTC)
Go to https://bitcoinfaucet.uo1.net/send.php and paste your UniSat wallet address for testnet Bitcoins. Accumulate some $tBTC by requesting as much as you are allowed.
You can also go to https://coinfaucet.eu/en/ to request $tBTC.
- Bridge testnet Bitcoins ($tBTC) to SatoshiVM testnet
This is where the core of the testnet activity will be, because SatoshiVM is made to be a bridge between Bitcoin and the Ethereum Virtual Machine. To bridge test Bitcoins to SatoshiVM Testnet using the SatoshiVM BTC bridge, go to https://bridge.satoshivm.io/. On the “Deposit” tab, type in the amount of testnet Bitcoins ($tBTC) you want to bridge and click “Deposit”.
- Bridge more $tBTC
Repeat steps 3 and 4 above to bridge even more $tBTC to SatoshiVM. Do this more often to position yourself for when more features are launched on the SatoshiVM testnet!
- Accumulate some Sepolia ETH
SatoshiVM has a tSAVM faucet feature which will go live soon. When it does, you will need Sepolia ETH to pay for gas fees. Therefore, to position yourself for when the feature does go to live, go to https://sepoliafaucet.com/, enter your wallet address and click “Send me ETH”.
You can also go to https://www.infura.io/faucet/sepolia for Sepolia ETH.
BONUS: SECRET strategies to maximise your SatoshiVM airdrop
Here are some SECRET strategies to maximise your SatoshiVM airdrop:
Deploying a smart contract (including tokens)
To increase your chances of getting the SAVAM airdrop, it’s important to deploy smart contracts on the SatoshiVM testnet. Note you will need a lot of testnet BTC to pay for gas fees (around 0.0010491 testnet BTC), so make sure you have plenty.
To deploy smart contracts on the SatoshiVM testnet, go to Thirdweb and under the “Contracts” section click “Deploy”. Then click “+Deploy contract”, then under the “Popular” section click on “Token” and then “Deploy now”. We suggest you read the “Technical Design Doc” as it will be very helpful. Follow the instructions provided, including inputting a name, a symbol for the contract and a description. We do not suggest you upload a file for the token logo as an error message will show up. Fill in your address as the primary sale recipient.
Afterwards, you will need to add the SatoshiVM network. To do this, under “Select Network” click “Add Custom Network” and copy and paste the SatoshiVM Testnet network details from the SatoshiVM docs. Remember to select “Testnet” as the Network type. Finally, click “Add Network”. Once you see SatoshiVM Testnet appear under “Network/Chain”, click “Deploy Now”.
Click on the “Contracts” tab on the top, find your contract and click on it. There will be an option for you to mint your tokens. Mint your tokens!
Interact with smart contracts on testnet
Go to https://testnet.svmscan.io/tokens and under “Tokens” find a token where it is not fully minted yet i.e. those with fewer holders than the max supply. Then, click into a token and look for those with a green check mark next to the word “Contract” i.e. “Contract✓“. Then click “Write contract” and find the “PublicMint” section. In that section, type in the amount you wish to mint and click “Write”. Approve the transaction in your Metamask wallet. Note you will need testnet BTC to pay for transaction fees, which could be a lot.
Also, clicking into any section under “Contract✓” and filling in details also counts towards the requirement of interacting with smart contracts.
Run a validator node on SatoshiVM
Running a validator node on SatoshiVM could further increase your chances of getting the airdrop. To run a validator node on SatoshiVM, go to https://wizard.openzeppelin.com/. Fill in the token name and symbol. Then under features click “Mintable” and click “Open in Remix” on the right hand corner. In the popup window, you an import additional code. This will include making a vendor smart contract or additional proxy smart contracts.
How to claim SatoshiVM ($SAVM) token airdrop?
On 19th January 2024, SatoshiVM ($SAVM) token launched on Uniswap with SAVM/WETH and SAVM/USDC trading pairs. SatoshiVM also launched on Ape Terminal at https://launch.apeterminal.io/project/satoshivm.
However, the team have announced there is currently no active $SAVM airdrop being claimable under any links. So be wary of any links claiming to be $SAVM airdrop claim links as those are likely scams.
SatoshiVM ($SAVM) airdrop review
When reviewing an airdrop, there are several factors to consider. First, the likelihood the project will even do an airdrop in the first place. Then, to look at how many tokens the project intends to allocate towards airdrop campaigns, as well as the difficulty in participating in their airdrop. It is also important to look at the utility of the token so that there will be an actual use and purpose in participating in the airdrop in the first place. Finally, a factor to consider when reviewing an airdrop is whether the airdropped tokens are subject to any lockup period.
Likelihood of airdrop: There is a lot of rumours surrounding a potential SatoshiVM airdrop. Considering how good airdrops are for a project’s exposure, we also think SatoshiVM is likely to do a token airdrop.
Airdropped token allocation: The SatoshiVM airdrop allocation is unknown.
Airdrop difficulty: The SatoshiVM airdrop only has the bridging function on testnet. So, tasks only involve accumulating testnet tokens for later use when more features are available, and to bridge tokens. Remember it is only testnet so you will not be using real funds! It can’t get any easier than this!
Token utility: The $SAVM token utility is unknown.
Token lockup: There is no information on the $SAVM token lockup yet.