Shardeum is an upcoming linearly scalable layer-1 blockchain using dynamic state sharding similar to NEAR Protocol. The project is still in its early phase, which means early users can potentially secure massive Shardeum $SHM token airdrop rewards.
Check out our Sui Airdrop Guide and Scroll Airdrop Guide for another highly anticipated token airdrop.
Shardeum ($SHM) Airdrop Step-by-Step Guide
Here’s how to get a potential Shardeum ($SHM) airdrop:
- Add Shardeum Network on MetaMask.
- Go to the Shardeum betanet and claim testnet SHM.
- Interact with projects on the Shardeum ecosystem.
- Become a Shardeum YouTube creator.
See below for more details.
What is Shardeum?
Shardeum is a smart contract platform built on the Ethereum Virtual Machine (EVM) that uses dynamic state sharding to scale efficiently. Although it shares similarities with other state sharding platforms like Harmony, Elrond and NEAR Protocol, it distinguishes itself by having a unique approach to consensus.
Unlike most platforms that group transactions into blocks and perform consensus at the block level, Shardeum performs consensus on each transaction individually. This enables simultaneous processing of transactions that affect multiple shards, instead of consecutive processing as with block level consensus. This speeds up the processing time and removes the need for complex atomic processing as required by block level consensus platforms.
Dynamic State Sharding
Shardeum has a unique feature in its use of dynamic state sharding. In dynamic state sharding, each node has a different set of addresses to manage. But, there is a significant overlap between the different nodes. This is contrasted with static state sharding, where all nodes in a shard are responsible for the same set of addresses.
While dynamic state sharding is more challenging to implement compared to static state sharding, it offers a more efficient solution for scaling the network. With dynamic state sharding, every new node added to the network instantly increases the transaction per second (TPS) rate. In contrast, static state sharding requires a minimum number of nodes to join the network before creating a new shard, and gradually increases the TPS rate.
Who is the Team behind Shardeum?
Nischal Shetty and Omar Syed co-founded Shardeum. Shetty is the founder and CEO of WazirX, the largest crypto exchange in India with over 10 million active users. Syed is a blockchain architect who has helped large organizations build scalable, fault-tolerant distributed systems such as NASA, Yahoo, Zynga, and Shardus.
In October 2022, Shardeum successfully raised $18.2 million in seed funding from more than 50 investors worldwide. These investors include Jane Street, Struck Crypto and the Spartan Group.
Does Shardeum have a Token?
Validators and standby nodes will generate $SHM, Shardeum’s native coin, through mining – see their litepaper. This acts as a reward for their contribution to the network. Users will use the $SHM token to pay gas fees for transferring assets and executing smart contracts on the network
Shardeum reserves 51% of its maximum supply of 508 million tokens for the community.
How to Receive Potential Shardeum ($SHM) Token Airdrop?
Shardeum have not confirmed an airdrop, yet. However, the best chance to receive $SHM airdrop is to interact with their testnet. Shardeum recently launched their betanet, and protocols on there also have incentives for early users. This puts you in a great position to earn more rewards! Here’s how to do this:
- Add Shardeum Network on MetaMask.
- Go to the Shardeum betanet and claim testnet SHM.
- Interact with projects on the Shardeum ecosystem.
- Become a Shardeum YouTube creator.
Add Shardeum Network on MetaMask
Shardeum created a list of all their network endpoints on their user document. You can choose to connect them automatically or add them manually to your MetaMask RPC. Their latest one is Sphinx 1.X, which is their betanet and the final step before the mainnet launch. We recommend adding this to your MetaMask. To do this, go to Shardeum’s developer docs, go to Network and Endpoints, then click “Click to Connect to Sphinx 1.x”.
Claim Faucet Tokens
After adding Shardeum to MetaMask, you will need testnet tokens to interact with their platform. There are 2 ways to do this, either on their website or to the Shardeum Liberty Network faucet.
On the Shardeum website, click “Claim Testnet SHM”. You will then need to join their Discord and claim tokens using their Discord faucet text channels.
Alternatively, you can claim Shardeum testnet tokens using the Shardeum Liberty Network faucet. But first, you will have to click “Tweet Now” for them to send you tokens. This is to prevent faucet bot abuse from using up all available $SHM. Remember to add your wallet address before you Tweet out the message. Finally, copy your Tweet link and paste it into the request box.
Interact with projects on the Shardeum ecosystem
Shardeum has nearly 60 projects in its ecosystem, ranging from DeFi protocols to decentralized exchanges (DEXs). Interacting with these ecosystem projects will likely put you in a good position to receive any potential Shardeum airdrop. However, here are some projects which we think may have a higher chance of receiving an airdrop if you interact with them.
Shardeum Swap
Shardeum Swap is one of the first decentralized exchanges (DEX) built on the network. Therefore, it is very likely that users interacting with the protocol are included in the snapshot. Here you can (1) swap SHM to SSWAP tokens, (2) wrap SHM to WSHM, and (3) provide liquidity to pools. Remember that these are testnet tokens, so feel free to play around with the DEX.
Swapped Finance
Swapped Finance is an automated market maker (AMM) DEX built on the network. But it has more features to offer such as yield farming, staking, limit orders, margin orders, launchpad, and lending/borrowing. As long as you use your testnet tokens for swapping or liquidity provision, there is a high chance you will be included in the snapshot.
DAOStarter
Shardeum is working with DAOStarter on a test party campaign, which will run until 31st March 2023 at 9:00 am UTC. Users can join the DAOStarter betanet on Shardeum Sphinx and mint an exclusive NFT. To do this, you will need to complete all 6 tasks listed on Galxe. Remember, you will need to switch to BSC network to do this. Complete the tasks and click “Claim”, note this will require you to pay gas fees in BNB.
Become a Shardeum YouTube Creator
As an additional task, you can also apply to become a Shardeum YouTube Creator, which the team promises will offer you performance-based rewards. To become a Shardeum YouTube Creator you will need to complete the following steps:
- Complete their application form.
- Create a content calendar for Shardeum’s YouTube channel.
- With the help of Committers, create and edit videos on Shardeum-related topics, EVM-related topics, and developer tutorials.
- Host Live videos on topics relating to current web3 trends, project updates and AMAs.
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: No airdrop has been announced yet. But Shardeum recently launched their betanet, and protocols on there have incentives for early users.
Airdropped Token Allocation: The team expects to give 51% of its token supply to the community but did not specify how much of this would be allocated towards airdrops.
Airdrop Difficulty: Shardeum has not yet released details about its airdrop rules. There may be a chance of being eligible for $SHM airdrops by interacting with their testnet. This is relatively simple since you can use testnet tokens, which are free.
Token Utility: $SHM will be used to pay gas fees for transfers and smart contract execution on the network.
Token Lockup: There is no announcement on when the $SHM token would be launched.
