Script Network ($SCPT + $SPAY) Token Airdrop Guide: LIVE NOW!

The Script Network testnet just went live, and you can earn points from completing simple tasks, which directly correspond to your token rewards. In this article, we will explain what Script Network is and what you can do to position yourself for the airdrop.

You can use our referral code 9GYApp1S3I to sign up for their testnet!

Script Network ($SCPT + $SPAY) Airdrop Step-by-step Guide

Here’s how to get a potential Script Network airdrop:

  1. Sign up for Script Network
  2. Interact with Script Network
  3. Create a wallet.
  4. Request $SPAY and $SCPT tokens from faucet.
  5. Stake tokens
  6. Transfer tokens between wallets
  7. Complete tasks on Crew3

See below for more details

What is Script Network?

Script Network, also known as Script TV, is a decentralized streaming platform powered by their own layer-1 protocol, Script Blockchain. It aims to solve some of the problems the current streaming industry is facing. Apart from video streaming services, the system provides incentives for decentralized bandwidth and content-sharing, all at a more affordable rate than conventional service providers. Moreover, users can earn tokens (i.e. $SPAY) and other rewards from watching content, hence their watch-to-earn economy model.

Script Blockchain

Script Blockchain is a specialized blockchain designed to relay video and data. Its unique multi-BFT consensus design includes Validator Nodes and Lightning Nodes that propose and verify new blocks. The blockchain also supports Turing-complete smart contracts, allowing for new user experiences and attribution models for DApps.

With smart contracts, users can enjoy digitized item ownership, innovative payment models, and trustless crowdfunding mechanisms. As a result, community members can host and relay live stream video data globally. The network is run by thousands of community members, eliminating the need for a single central server or service.

Who is the Team behind Script Network?

Abiel Alazar and Akeem Ouko are the co-founders of Script Network, which has a team of team skilled professionals with previous work experience at Sony, HBO, Spotify, EA, PayPal, Nike, and Adidas. They’re backed by some of the prominent Web3 organizations including Chainlink, NFTrade, Poolz, and Gate.io.

Does Script Network have a Token?

Yes, in fact, Script Network uses a dual token system — $SCPT and $SPAY:

  • $SCPT is the governance token used to manage the network and content through a decentralized autonomous organization (DAO), with a fixed supply of 1 billion tokens. It can also be used as payment for advertising and earned by running a node. Furthermore, users can stake $SCPT to receive crypto and NFT rewards.
$SPCT token utility
$SPCT token utility (Image source: Medium)
  • $SPAY is the operational token that is used for serves as a means of rewards, transactions, and upgrading ScriptGLASS, which is the required NFT for watch-to-earn. Unlike $SCPT, $SPAY has a token supply of 5 billion with a 7%-9% yearly inflation. Its primary function is to facilitate all transactions on the blockchain, including payment for sharing a video stream, interacting with smart contracts, and NFT transaction fees, among others.
$SPAY token utility (Image source: Medium)

How to Receive $SPAY Airdrop?

Script Network has confirmed airdropping 10% of the total $SCPT supply and 7.5% of the initial $SPAY supply to the community. Here’s how to potentially get a $SPAY airdrop:

  1. Sign up for Script Network
  2. Interact with Script Network
  3. Create a wallet.
  4. Request $SPAY and $SCPT tokens from faucet.
  5. Stake tokens
  6. Transfer tokens between wallets
  7. Complete tasks on Crew3

Sign up for Script Network

Go to token.script.tv/tv and click “sign in/sign up.” Connect your wallet such as MetaMask, and then sign up with your email. You can use our referral code 9GYApp1S3I.

Interact with Script Network

Once you have logged into Script Network, you’ll see all the channel and program schedules as you scroll down. You can select any video to watch, and there is a live chat room as well!

Go to token.script.tv/dashboard to see your account analytics. You can see your rewards and referral code here. There are also other features on the DApp, but they aren’t open currently.

As of now, there are four ways to earn points for the airdrop:

  1. Log in every day.
  2. Watch at least one video every day.
  3. Talk on the live chat.
  4. Invite friends with a referral code.

Create a wallet

To qualify, you need to sign up at the Script Network website here. To create a new wallet click “Create a Wallet” at the bottom of the page. Then you will be required to set up a password, tick the disclaimer, and download keystone onto your device. Afterward, copy down the 12-word recovery phrase and keep it safe. Finally, unlock your wallet to continue.

Script Network wallet

Request $SPAY and $SCPT tokens from faucet

To request $SPAY tokens, go to “Receive” in your wallet and “Faucet”. Afterward, you will be automatically logged out and asked to re-login. This is for security reasons. You will receive your testnet $SPAY tokens within 10–15 minutes.

To request $SCPT tokens, you will need to type in your Script Native wallet address in their #scpt-token-faucet Discord channel. You will receive your testnet $SCPT tokens within 24 hours.

Stake tokens

Note this option is only available to those who are running a test edge, lightning or validator node.

Transfer tokens between wallets

To transfer tokens, go to “Send” in your Script wallet. Choose which token ($SPAY or $SCPT) you wish to send, the destination address and the amount. Then hit “Send” and confirm the transaction with your wallet password.

Complete tasks on Crew3

Script Network has a Crew3 Questboard where users can complete tasks in order to earn XP points. Tasks include signing up to Script Network, joining and participating in their social media channels etc. The team has confirmed on their Discord channel that the XP rewards earned on Crew3 may be converted to rewards and used as the snapshot for the leaderboards. To participate in the Script Network Crew3, go to their Crew3 Questboard, connect your wallet, and complete the tasks.

Script Network Crew3

Script Network Token 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: Script Network has confirmed a $SCPT and $SPAY airdrop to the community.

Airdropped Token Allocation: 10% of the total $SCPT supply and 7.5% of the initial $SPAY supply will be airdropped.

Airdrop Difficulty: The four tasks are very easy to complete, just make sure to do them every day.

Token Utility: $SCPT is the governance token used to manage the network and content display, whereas $SPAY will be the operational token for transaction fees, rewards, and upgrading the ScriptGLASS NFT.

Token Lockup: The issuance of $SCPT tokens will follow a strict vesting schedule, indicating that Validators agree not to trade tokens during the initial six months and instead contribute them to the staking pool during this timeframe to facilitate the network’s functioning.

REVIEW OVERVIEW
Likelihood of Airdrop
Airdropped Token Allocation
Airdrop Difficulty
Token Utility
Token Lockup
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Ronal is a Senior China Blockchain Correspondant who has been covering the Chinese blockchain industry since its inception. He has written extensively on the subject, and his work has been featured in some of the world’s leading publications. Ronal is an expert on the Chinese blockchain market and has a deep understanding of the technology and its potential applications.
script-network-scpt-spay-token-airdropScript Network has announced an airdrop of $SCPT and $SPAY tokens, with 10% of the total $SCPT supply and 7.5% of the initial $SPAY supply to be distributed to the community. The airdrop is easy to participate in, with four simple tasks to complete each day. $SCPT is the governance token for network and content management, while $SPAY will serve as the operational token for transaction fees, rewards, and ScriptGLASS NFT upgrades. The issuance of $SCPT tokens follows a strict vesting schedule, with Validators committed to contributing their tokens to the staking pool for the first six months to facilitate network operation.