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Tag: modular blockchain

  • Fuel Network Token Airdrop Guide

    Fuel Network Token Airdrop Guide

    Fuel Network is another trending modular blockchain project similar to Celestia. They are currently in Phase 2 of their points program which means there may be airdrops coming soon! In this article, we will explain what Fuel is and how to position yourself for the token airdrop.

    Check out our step by step guide!

    Some SURPRISE Airdrops are COMING!!

    Fuel Network Airdrop Step-by-Step Guide

    Here’s a step-by-step guide on how to get a potential Fuel Network token airdrop:

    1. Install Fuel Wallet
    2. Claim Testnet Tokens
    3. Connect with Fuel Wallet
    4. Interact with SwaySwap
    5. Apply for the Thunder NFT closed beta
    6. Interact with Other DApps on the Ecosystem
    7. Complete Guild tasks and get Discord role
    8. Leave feedback on Discord

    See below for more details.

    What is Fuel?

    Fuel is focused on building the fastest execution layer for modular blockchains. It is essentially a verifiable computation system designed for the modular blockchain stack. This system is based on a fraud- or validity-provable blockchain or other computation system that leverages a modular blockchain for data accessibility.

    There is an ongoing shift happening in the architecture of layer-1 (L1) blockchains. We are transitioning from a monolithic design, in which consensus, data availability, and execution are interdependent, to a modular future where execution is detached from data availability and consensus. This decoupling permits specialization at the foundational layer, leading to a significant increase in bandwidth capacity. As such, Fuel is specifically developed to leverage this additional bandwidth, delivering high security and flexible throughput.

    Who is the Team behind Fuel?

    Fuel is developed by Fuel Labs, co-founded by John Adler and Alex Hansen. Adler is also the co-founder of Celestia, another popular modular blockchain project. In fact, both projects are complementary in terms of technical route. But Fuel is positioned as a modular execution layer, whereas Celestia is optimized for data availability and ordering. This makes Fuel one of the most hotly anticipated projects.

    In September 2022, Fuel Labs successfully raised $80 million in a funding round led by Blockchain Capital and Stratos Technologies. Other backers also include some of the sector’s biggest investors such as CoinFund, Bain Capital Crypto, and TRGC.

    Does Fuel have a Token?

    As of now, Fuel has not confirmed the launch of a token. But with more than $80 million raised and its counterpart Celestia launching a token, it is very likely that Fuel will launch a token ahead of the mainnet launch. Currently, Fuel has a points program where you can earn off-chain points by completing specific on-chain actions. These points can potentially qualify you for future network rewards, which could mean airdrops.

    How to Receive Potential Fuel Token Airdrop

    Time needed: 45 minutes

    The best chance to receive Fuel airdrops is to interact with their testnet. Fuel recently launched their Beta-3 Testnet, and it is important to interact with their protocols for a chance to be included in the snapshot. Here’s a step-by-step guide on how to position yourself for the airdrop:

    1. Install Fuel Wallet

      You will need to install Fuel Labs Wallet to interact with the testnet. Go to wallet.fuel.network/docs/install and download the zip file of the wallet. Once it’s complete, go to Chrome Extensions and toggle on “Developer Mode” at the top right corner of the screen. Now drag the downloaded zip file to the extension page to begin installing the wallet.

    2. Claim Testnet Tokens

      After setting up your wallet, go to your wallet and click on the “Faucet” button. You can also try here or here. Enter your wallet address and you should receive some test ETH immediately.

    3. Connect with Fuel Wallet

      Now, you will need to request a connection with your wallet, which will authorize your application to execute other actions. Go to wallet.fuel.network/docs/how-to-use, scroll down to the “Request Connection” section and connect. Then, click “Check it working”. Afterwards, try each of the tools on the page. This is really simple as all you need to do is to scroll and follow each step.

    4. Interact with SwaySwap

      SwaySwap is a decentralized exchange built on the Fuel test network, and is very likely a prerequisite to be included in the snapshot. Go to fuellabs.github.io/swayswap and launch the app. Claim testnet tokens at https://app.swaylend.com/#/faucet. Here you can swap tokens, provide liquidity to the protocol, and remove some liquidity. The more frequent the better chances you’re eligible for the airdrop.

    5. Apply for the Thunder NFT closed beta

      To apply for the Thunder NFT closed beta, go to the signup page and enter your Twitter handle.

    6. Interact with Other DApps on the Ecosystem

      There are many other projects building on Fuel. Here is an updated list of all the protocols that are currently running on Fuel Network. Additionally, most of these DApps do not have a token yet. So testing and interacting with them could also get you to qualify for their own token airdrop!

    7. Complete Guild tasks and get Discord role

      Connect your wallet to Fuel’s Guild page. Complete the social tasks to get various Discord roles.

    8. Leave feedback on Discord

      Go to the “wallet-feedback” channel on Discord and leave any feedback you have on the Fuel Wallet.

    9. Create and mint your own FuelArt NFT

      Go to https://fuelart.io/. Then, create and mint your own NFT.

    10. Participate in Pre-Deposit Program (Phase 1)

      Deposit qualifying tokens into Fuel’s pre-deposit contract on the Ethereum Network. Note however this program is now closed.

    11. Move funds to Fuel L2.

      Migrate your pre-deposit funds into Fuel L2 at https://app.fuel.network/earn-points/deposit/. Or, bridge funds into Fuel L2 using the bridge at https://app.fuel.network/bridge.

    12. Interact with dApps on Fuel Ignition

      Go to https://app.fuel.network/ecosystem and interact with the Fuel ecosystem dApps.

    13. Earn Points

      There are 3 ways to earn points in Phase 2 of Fuel’s Points Program. Firstly, Activity Points are earned by interacting with qualifying apps on Fuel Mainnet. For example, becoming a liquidity provider or lending on platforms. Some activities will also give you multipliers on your points. See HERE for the latest details. Secondly, spending on gas transactions will allow you to 5 Gas Points for each dollar spend on gas. Finally, when actively deploying funds, you can earn Passive Points at a minimum ate of 1 point per day per dollar.

    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: Fuel has not confirmed a token launch yet, let alone an airdrop. But given the amount of money it raised and the project sharing the same co-founder as Celestia, there is a good chance they will have a token, and with it an airdrop.

    Airdropped Token Allocation: TBD

    Airdrop Difficulty: The steps are relatively easy as you just have to install a wallet and interact with SwaySwap. We also recommend being active with other DApps to increase your chances of getting an airdrop.

    Token Utility: TBD

    Token Lockup: TBD

  • Venom ($VENOM) Token Airdrop Guide: 25 March listing!

    Venom ($VENOM) Token Airdrop Guide: 25 March listing!

    Venom Foundation have launched a $1 billion fund to invest in Web3 and blokchain firms. And is launching a layer-0 blockchain that will function as the main infrastructure for a global ecosystem of Web3 applications. According to their whitepaper, 22% of the initial token supply will be allocated to the community. This is very likely to be an airdrop to early users. Venom has launched their mainnet on 18th March 2024 and their $VENOM token will be listed on 25th March 2024! Here is our Venom token airdrop guide.

    Check out our video on the latest news and predictions for the upcoming potential Venom token airdrop!

    https://www.youtube.com/watch?v=fl_Sz53_038

    What is happening to Venom?

    On 16th December 2023, Venom Foundation announced on Twitter as of 14th December 2023, they will no longer continue operating in ADGM (Abu Dhabi Global Market). Therefore, Venom Foundation will begin the dissolution process. They have however, mentioned that they are open to exploring future opportunities within ADGM. However, it does mean that it is unlikely there will be a Venom airdrop in the foreseeable future.

    Step-by-Step Venom Testnet Guide

    What is Venom Foundation?

    Venom Foundation is a new layer-0 blockchain that envisions a global economy built on decentralized, blockchain-based, financial systems. They are a new player in the financial application-specific blockchain (appchain) space, offering real-world assets (RWA) with the transparency of a blockchain. They are fully regulated by financial authorities in Abu Dhabi.

    The architecture of Venom Foundation is essentially a modular blockchain that is built on its own Threaded Virtual Machine (TVM). This allows for the efficient execution of smart contracts through an asynchronous communication model as well as dynamic sharding.

    In theory, the Venom blockchain can handle interactions between accounts more effectively than EVM-based networks, allowing for greater parallelism and reduced delays. As the network experiences heavy loads, validators divide into parallel groups and handle transactions through “split events.” As such, their mission is to be the infrastructure for the next generation of digital services and products.

    Does Venom Foundation have a Token?

    $VENOM, the native currency of the Venom blockchain, serves multiple purposes. It is used to pay transaction fees, which helps maintain the network and compensate validators. Additionally, it secures the network through a proof-of-stake mechanism and allows network participants to support validators via DePools staking.

    According to their whitepaper, the $VENOM token has no fixed maximum supply. It has an inflationary model, with a projected annual inflation rate of 1%. However, the Venom Foundation is exploring ways to transition to a deflationary model. It is worth noting that 22.0% of the tokens will be allocated towards the community, and 10% will be unlocked at TGE.

    Venom have confirmed their $VENOM token will be listed on 25th March 2024 on Bybit, OKX, MEXC, gate.io, Poloniex and Web3.world.

    Sign up for Bybit here!

    How to Get $VENOM Token Airdrop?

    The best way to get the $VENOM airdrop is to interact with the Venom Network Testnet. Here’s a step-by-step guide:

    1. Create a Venom Wallet

      Go to the Venom Network Testnet, and install a Venom Wallet (Chrome users can download here). Pin the wallet to your Google Chrome Extension at the top right.

      Connect your Twitter account to your Venom wallet to claim 50 testnet $VENOM tokens.

    2. Claim Testnet $VENOM Tokens

      Go to the Task page and log in with your Venom Wallet. Connect your wallet, Twitter account and follow Venom Foundation to claim 50 testnet $VENOM.

      You can also claim additional testnet tokens by completing other tasks on the Faucet page. You will be required to complete various tasks to claim additional testnet Venom.

    3. Complete Venom Foundation tasks

      On the task page, follow Venom Foundation on Telegram and subscribe to their YouTube Channel. Once that’s done, you can claim your NFT by clicking “Mint NFT”.

    4. Complete Venom Wallet tasks

      Go to the task page. Send at least 1 VENOM token to 0:077873f1453fa67b0f1ce77f1e806675acd19c4694b9738be61fd406618f2f7a. Then, click “Mint NFT”.

    5. Complete Web3.World tasks

      On the task page, join the Web3.World Telegram Channel and swap any token available on testnet.web3.world to any other tokens. Then mint the NFT.

    6. Use Venom Bridge

      Go to the task page. Join the Venom Bridge Telegram channel. Then, transfer tokens from Venom to EVM chains. First, go to https://testnet.venombridge.com/bridge and connect your Venom and EVM (e.g. Metamask) wallets. In the “From” and “To” fields, select “Venom Testnet” and “Binance Smart Chain” respectively. Select the amount of Venom tokens you want to transfer and turn off the “Swap TVENOM to pay BSC gas” option. Click “Continue”, then approve the transaction. Then, go to the “History” tab, click “Only My” and find that transaction. Click on the transaction and “confirm” to release transfer in Binance Smart Chain. Afterwards, do the transaction in reverse, i.e. swap from Binance Smart Chan to Venom Testnet.

    7. Claim Snipa Finance NFT

      Go to the task page and complete the tasks to claim your free Snipa Finance NFT! Full guide here.

    8. Stake Venom

      Go to the task page. Connect your Venom wallet to https://testnet.venomstake.com/. Then choose the amount you wish to stake and click “Stake”. You can also unstake your Venom at any time by going to the “Unstake” tab, choosing the amount you wish to unstake and clicking “Unstake”. On the task page, click “check”, you may need to wait a few minutes after the task has been completed before the checking will be sucessful. Finally, mint the NFT.

    9. Trade NFTs on Oasis Gallery

      Find the instructions on the task page. Oasis Gallery is a NFT marketplace on Venom. Buy any NFT on Oasis Gallery here. Click on the NFT you wish to buy, connect your Venom wallet, click “Buy now” and confirm the transaction. Then go back onto the task page and click “Check”. Now, list your NFT for sale on Oasis Gallery by going to their website and going to the “My NFTs” tab. Click on your NFT and “Put for sale”. Choose your sale price and confirm the transaction. Return to the task page and click “Check” and finally, mint your NFT.

    10. Complete VenomPad tasks

      Go to the task page. Follow and Tweet about VenomPad. Click “Check” once each of the the tasks have been completed. Mint the NFT.

    11. Buy NFT on Nümi

      Go to the task page. Watch the video, tweet about Nümi and buy any NFT on Nümi.

      If you made a Venom Wallet before June 2023, you should receive Nümi token airdrops. Click the refresh button at the bottom part of your wallet to see it. If you don’t have any Nümi tokens, you can swap them at Web3.World with VENOM tokens. Once you have some Nümi tokens, you can buy an NFT on the Nümi Marketplace after signing up for an account. Finally, mint the NFT.

    12. Mint Ylide NFT

      Go to the Ylide task page. Post about Ylide on Twitter. Then, connect your Venom wallet to https://hub.ylide.io/feed/venom and post an on-chain message. Finally, mint your Ylide NFT.

    13. Complete Gravix tasks

      Go to the task page. Follow Gravix on Twitter. Then, connect your Venom wallet to https://app.gravix.io/ and open a long/short position. However, you will need USDT to open a position. If you do not have any USDT in your Venom wallet, go to https://testnet.web3.world/swap and swap some $VENOM for $USDT first. Lastly, mint your NFT.

    14. Collect Qamon NFT

      Go to https://venom.network/tasks/qamon. Follow Qamon on Twitter and send an on-chain mail on https://app.qamon.io/. Then, mint the NFT.

    15. Burn Venom

      Go to the Venom Burn task page. Follow Venom Burn on Twitter. Then, go to https://testnet.venomburn.com/ and burn any amount of VENOM for any project. Mint your NFT.

    16. Complete OneArt tasks

      Go to the OneArt task page. Follow OneArt on Twitter. Then, download the OneArt mobile app here and import your Venom Wallet using your seed phrase. If you have at least 3 VENOM, a window will pop up asking you to Mint your NFT, click “Mint”. Once you have minted your OneArt Welcome NFT, go back to the task page and mint your other NFT.

    17. Complete Valicit tasks

      Go to the Valicit task page, follow Valicit on Twitter, buy a ticket and mint their NFT.

    18. Wrap $VENOM tokens

      Visit the Swap page. Choose VENOM and WVENOM tokens, and the amount. Then click “Wrap VENOM” and approve your transaction.

    19. Provide liquidity

      Go to “Liquidity Providing” and click “Add Liquidity”. Then, connect pool and approve the transaction, set the amount you wish to add and continue. Next, deposit your tokens and confirm the transaction in the wallet. Then, click “Supply tokens” and approve the transaction.

    20. Deposit into farming pools

      Go to the “Farming” tab, choose the USDT/WVENOM pool. Then, enter the amount you want to deposit and select the lock-up period. Click the deposit button and approve the transaction in your Venom Wallet when prompted.

    21. Complete Everplay tasks

      Go to the Everplay task page. Follow @everplaygg on Twitter. Then, buy a Venom Pass for 0.05 $VENOM (note this is testnet Venom and won’t require you to use real funds). Finally, mint your NFT.

    22. Complete Chainspot tasks

      Connect your wallet to the Chainspot task page. Follow @chainspotIO on Twitter. Then, connect your Metamask wallet to Chainspot (make sure you are connected to BSC Chain) and click “Claim” in order to Claim 10 $CST tokens. Transfer any amount of CST tokens from BSC Chain to Venom Testnet. Finally, mint your NFT.

    23. Complete Segmint tasks

      Go to the Segmint task page. Follow @segmintapp on Twitter. Next, mint any segment on segmint.app by finding an empty seat and clicking “Mint segment”. This will cost 0.49 testnet $VENOM. Finally, mint your NFT.

    24. Post screenshot and wallet address on Venom Discord

      Post a screenshot of your NFT achievements together with your wallet address on the Completed-tasks channel on Venom’s Discord.

    25. Complete Ventory tasks

      Go to https://venom.network/tasks/ventory. Follow Ventory on Twitter and mint a NFT on https://ventory.gg/ino/ventoryonvenom. Finally, mint the Ventory NFT.

    26. Complete tasks and collect NFT rewards

      Connect your wallet regularly to https://venom.network/tasks. Complete any new tasks, there will be more coming soon! Since the tasks are relatively easy to complete, we believe that users may have to collect all 24 NFTs in order to qualify for the Venom token airdrop.

    27. Where can I trade $VENOM tokens?

      $VENOM tokens can be traded on Bybit, OKX, MEXC, gate.io, Poloniex and Web3.world.

      Sign up for Bybit here!

    How to mint Venom NFTs

    You can mint Venom NFTs as rewards for using the Venom testnet and represent your engagement with the ecosystem. They could be the key to getting airdrop rewards in the future! Here’s a step-by-step guide:

    1. Go to https://venom.network/tasks, and click “Complete tasks”. Follow Venom Network on Twitter and tweet about the Venom Testnet. Then click “Mint” to mint your Venom NFT.
    2. You will then need to send any amount of Venom tokens to their address. Once you have done so, click “Check” and you can now mint your NFT.

    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: Based on recent events, Venom Foundation is unlikely to do an airdrop.

    Airdropped Token Allocation: 22% of the initial token supply will be allocated to the community. However, it is unlikely that Venom would do an airdrop.

    Airdrop Difficulty: The Venom Testnet page is very UI-friendly. It shows you the tasks you can complete for each DApp!

    Token Utility: $VENOM will be used to pay for transaction fees to maintain the network by validators, secure the network through proof-of-stake mechanisms, and support validators by network participants through DePools staking.

    Token Lockup: Of the initial supply of 7.2 billion $VENOM, 15.5% will be available to use, while 84.5% will remained locked. The locked tokens include 10% of the initial supply as a stake of early validators. However, it is unlikely that Venom would do an airdrop.

  • Celestia ($TIA) Token Airdrop Guide: How to get season 2 airdrop?

    Celestia ($TIA) Token Airdrop Guide: How to get season 2 airdrop?

    Celestia is one of the hottest modular blockchain projects in 2023. Their first airdrop, known as the Genesis Drop, is currently LIVE! And their tokenomics suggests that there are more airdrops to come! In this article, we will explain what Celestia is and how to position yourself for their $TIA token airdrop.

    Celestia Airdrop Step-by-Step Guide

    Here’s a step-by-step guide on how to get a potential Celestia token airdrop:

    1. Set up a development environment.
    2. Install Celestia Node.
    3. Install Docker.
    4. Install Celestia App.
    5. Set up and run a node on the Celestia network. 

    See below for more details.

    What is Celestia?

    Celestia is a modular blockchain network that simplifies the process of deploying a blockchain. They achieve this by separating the consensus and application execution layer. In essence, Celestia provides a pluggable consensus layer, which is usually the hardest part of deploying a blockchain because of the massive computational overhead it requires. As a result, users can focus on deploying execution layers and building decentralized applications (DApps) with this feature.

    How is it Different from Traditional Blockchains?

    Celestia scales differently compared to traditional blockchains like Ethereum. Traditional blockchains have a monolithic architecture where all nodes perform execution, consensus, and data availability. These nodes, responsible for storing the entire blockchain history, become more costly to operate as the blockchain data grows over time.

    On the other hand, Celestia has a modular architecture where the consensus and data availability layers are separated from the execution layer. This decoupling allows nodes to execute specific transactions, rather than all transactions, resulting in increased scalability.

    Additionally, Celestia uses novel Data Availability Sampling (DAS) technology, which enables light nodes to prove consensus without downloading the entire blockchain and retaining security, thus allowing for bigger blocks and a larger number of transactions, resulting in further scalability improvement.

    Who is the Team behind Celestia?

    Celestia was co-founded in 2019 by Mustafa Al-Bassam (CEO), Ismail Khoffi (CTO), and John Adler (CRO). They have a large team of blockchain veterans who worked for large Web3 projects and organizations such as Ethereum, ConsenSys, Cosmos, Harmony, and Chainspace. In October 2022, Celestia successfully raised $55 million in a combined Series A and B round led by Bain Capital Crypto and Polychain Capital, putting the company’s valuation at $1 billion.

    Does Celestia have a Token?

    Yes, Celestia has its $TIA token that will be used to secure the network via proof-of-stake and pay transaction fees on the network. Additionally, the token will have a fee burn mechanism similar to EIP-1559 in Ethereum, so that burned fees will offset new token issuance as the network gains adoption. According to their documentation, 7.4% will be allocated to the public during their Genesis Drop & Incentivized Testnet, which is currently ongoing. 12.6% however will be allocated towards Future Initiatives which suggests they may do more airdrops in the future!

    How to Receive Potential Celestia $TIA Token Airdrop?

    The best chance to receive Celestia airdrop is to run a node on their testnet, similar to Aptos node validators. There are currently two testnets that are live: Arabica Devnet (for developers) and Mocha Testnet (for validators). According to their roadmap, we are approaching the “2023 Incentivized Testnet” phase on the road map, just before the mainnet launch. However, the incentivized testnet is not the same as the two live testnets. But it is worth a shot to try and set up a node as it could potentially include us in the snapshot. Here’s how to set up a node and get a potential Celestia token airdrop:

    1. Set up a development environment. Set up your development environment to run any Celestia software, which can be used for development, building binaries, and running nodes. Go to docs.celestia.org/nodes/environment for the complete guide.
    2. Install Celestia Node. Install the Celestia Node to be compatible with either the Mocha Testnet or Arabica Devnet. It is also another prerequisite before you can run a node. Go to docs.celestia.org/nodes/celestia-node for the complete guide.
    3. Install Docker. Docker is an open platform for developing, shipping, and running applications. You will need to run Celestia Node using Docker. Go to docs.celestia.org/nodes/docker-images for instructions.
    4. Install Celestia App. This is the last step of the prerequisites before running a node. You will need to install the Celestia App, which is a binary file that will be used to run the node. Go to docs.celestia.org/nodes/celestia-app for the steps.
    5. Set up and run a node on the Celestia network. There are several options for you to choose. If you are a beginner, we highly recommend getting started with running a Data-Availability Light Node.

      Consensus:
      Validator Node: This type of node participates in consensus by producing and voting on blocks.
      Consensus Full Node: A Celestia-App Full Node to sync blockchain history.
      Data Availability:
      Bridge Node: This node bridges blocks between the Data-Availability network and the Consensus network.
      Full Storage Node: This node stores all the data but does not connect to Consensus.
      Light Node: Light clients conduct data availability sampling on the Data Availability network.

    What are the eligibility criteria for Celestia $TIA airdrop?

    Celestia have just announced their airdrop eligibility criteria. The criteria are in 4 major categories as follows:

    • Research and public goods: These are public GitHub contributors to key protocol infrastructure, public goods, and ETH Research.
    • Early modular ecosystem: These are public GitHub contributors to rollups and key modular infrastructure.
    • Early adopters, Ethereum rollups: These are the top 50% of active users of the top 10 rollups by TVL on L2 Beat as of 20th April 2023 with a balance of $50 during the snapshot taken on 1st January 2023.
    • Stakers & IBC Relayers, Cosmos Hub & Osmosis: These are stakers with at least $75 and IBC relayers on Cosmos Hub and Osmosis based on a snapshot taken on 1st January 2023.

    How do I claim Celestia airdrop?

    Celestia airdrop can be claimed from now until 17th October 2023 at 12:00 UTC. Those who are eligible can claim their Celestia airdrop by adding their address to the Celestia genesis block at https://genesis.celestia.org/. Tokens will then be automatically sent to the wallet.

    How to get a potential season 2 airdrop?

    The Celestia Genesis Drop saw 7.4% of the $TIA token supply being airdropped to the public. Their documentation however, states that 12.6% will be allocated towards Future Initiatives which suggests they may do more airdrops in the future! Here’s how you can get a potential season 2 airdrop:

    1. Donating on Gitcoin
    2. Interacting with their protocol and ecosystem.

    Where can I trade Celestia $TIA token?

    Celestia $TIA token launched on 1st Novemeber 2023 and is available for trading (TIA/USDT trading pair) on the following exchanges: Bybit, Binance, OKX, Gate,io and Bitget. As at the time of writing, $TIA prices are up 22.2%!

    EXCLUSIVE OFFER– 3 lucky winners that deposit 100 USDT and make 1 trade can join our iPhone 15 Pro Max 512 GB lucky draw! SIGN UP HERE

    Start trading! Check out our Bybit Exchange Guide and Review

    How to claim AltLayer airdrop for Celestia $TIA token stakers?

    AltLayer announced details of their Airdrop Season 1. A total of 300 million $ALT tokens (i.e. 3% of the total supply) will be airdropped. The snapshot was taken at 12:00:11 on 17th January 2024 (UTC), and the AltLayer airdrop will be available to claim from 25th January to 25th February 2024. Of the $ALT tokens to be airdropped, 9.92% (i.e. 29.76 million) $ALT will be airdropped to Celestia Stakers.

    However, due to technical issues, the AltLayer airdrop to $TIA stakers will only be available to claim at a later time. The AltLayer and Celestia teams are currently working together on an airdrop portal for TIA stakers. So stay tuned to AltLayer’s social media channels for further updates.

    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: Celestia’s first airdrop, known as their Genesis Drop is currently live. And with 12.6% of their token supply being allocated towards Future Incentives, there’s a good chance there will be more airdrops to come!

    Airdropped Token Allocation: 7.4% of the $TIA token supply will be allocated to the public during their ongoing Genesis Drop & Incentivized Testnet. 12.6% however will be allocated towards Future Initiatives which suggests they may do more airdrops in the future!

    Airdrop Difficulty: Since it is very likely that running a node can qualify you for an airdrop, the steps involved are quite technical and difficult.

    Token Utility: The token will be used to secure the network via proof-of-stake and pay transaction fees on the network.

    Token Lockup: $TIA tokens which will be distributed under the public allocation will be fully unlocked at launch.

  • Mantle Network ($MNT) Token Airdrop Guide: LIVE NOW!

    Mantle Network ($MNT) Token Airdrop Guide: LIVE NOW!

    Mantle Network is an Ethereum Layer-2 protocol developed by BitDAO, one of the largest decentralized autonomous organizations (DAOs), and a partner of Bybit. The public testnet is now live, along with a community incentive program. You can potentially earn $MNT token airdrops from using the protocol. In this article, we will explain what Mantle Network is and what you can do to position yourself for the airdrop.

    Sign up for Bybit today!

    Mantle Network ($MNT) Airdrop Step-by-step Guide

    Here’s how to receive a potential Mantle Network ($MNT) token airdrop:

    1. Set up Mantle Testnet
    2. Claim testnet $MNT tokens from Mantle Faucet
    3. Bridge Assets from Goerli to Mantle Testnet
    4. Complete Mantle Quests on Crew3 and join the Mantle Guild
    5. Bridge assets to Mantle Network mainnet
    6. Get $MNT tokens
    7. Vote on governance proposals
    8. Interact with dApps on the Mantle ecosystem

    See below for more details

    What is Mantle Network?

    Mantle Network is an Ethereum Layer-2 scaling solution created by BitDAO that focuses on enhancing security, reducing fees, and increasing transaction throughput. It leverages roll-up technology and adopts a modular approach to create a separate, decentralized data availability layer in collaboration with EigenLayer. By implementing this strategy, it accomplishes the following:

    1. Facilitates hyperscaled throughput for heavy-duty applications.
    2. Removes the need for forking capital to motivate validators, thus reducing the marginal cost of capital when setting up new protocols.
    3. Enables restaking mechanisms — re-staking allows anyone who has staked ETH on layer-1 to re-stake a pegged asset (stETH, rETH, cbETH, etc) and provide security to Mantle’s data availability layer.

    Does Mantle Network have a Token?

    Mantle Network uses $BIT, BitDAO’s governance token, as its native gas token. BitDAO has announced the approval of a proposal to deploy $100 million into the Mantle Ecofund, aiming to incentivize developers to build within the Mantle ecosystem. Additionally, the team is considering an airdrop for its testnet users. They have a subchannel on Discord where they discuss airdrop plans with the community.

    What is the $MNT and $BIT token?

    The $BIT token is BitDAO’s governance token. ByBit exchange is partnered with BitDAO and therefore use $BIT as their “unofficial official” token. Bybit frequently has campaigns and perks for $BIT coin and token holders. For example, there had a BIT Trading Fiesta where frequent $BIT traders on Bybit got up to US$100,000 in rewards. $BIT holders are also eligible for higher VIP levels and discounted trading fees.

    On 19th May 2023, BitDAO rebranded itself to become Mantle and most importantly, voted to covert its $BIT token to $MNT tokens at a 1:1 ratio. So now, the $MNT token will be used across the entire Mantle Network ecosystem, for its products and for governance.

    How do I convert my $BIT tokens to $MNT tokens?

    From 17th July 2023 at 6:00am UTC onwards for a period of 6 months, $BIT token holders can convert their $BIT tokens to $MNT tokens. Here’s how to convert or migrate $BIT to $MNT:

    1. Connect your wallet to https://migratebit.mantle.xyz/
    2. Approve the use of your $BIT tokens on your wallet.
    3. Enter the amount of $BIT tokens you wish to convert.
    4. Approve and wait for the conversion to be completed.

    How to receive a potential Mantle Network $MNT token airdrop?

    Here’s a step-by-step guide on how to receive a potential Mantle Network $MNT token airdrop:

    1. Set up Mantle Testnet

      Add Goerli network on your MetaMask via Chainlist. Then, claim Goerli testnet ETH to cover gas fees using Paradigm Faucet or Alchemy Faucet. Afterwards, add Mantle Testnet to MetaMask via Chainlist.

    2. Claim Testnet $MNT from Mantle Faucet

      Connect your wallet to the Mantle Faucet. Verify your Twitter and paste your wallet address. You can mint up to 1,000 $MNT testnet tokens.

      If you don’t see $MNT in your wallet, click “Import Token” and paste the following $MNT token contract address: 0x3c3a81e81dc49a522a592e7622a7e711c06bf354

    3. Bridge Assets from Goerli to Mantle Testnet

      Use the Mantle Bridge to transfer Goerli ETH and testnet $BIT to the Mantle Testnet.

      Switch the network to the Mantle Testnet. Import the token contract address of Goerli ETH, which will be shown as WETH on Mantle: 0xdEAddEaDdeadDEadDEADDEAddEADDEAddead1111

    4. Complete Mantle Quests on Crew3 and join the Mantle Guild

      Complete as many Crew3 quests as possible to get exclusive Discord roles. This could also be an eligibility criterion for the airdrop.

      You can also complete other quests on guild.xyz/mantle to obtain additional roles such as the BIT Delegate. For that, you will need to buy and hold at least 1 $BIT or $MNT, delegate them to your ETH address on delegate.bitdaotools.io, and vote on at least on BIT Improvement proposal (BIP) in the bitdao.eth Snapshot space.

      Crew3 and Guild tasks are not mandatory, but it could help your chances of getting the airdrop.

    5. Bridge assets to Mantle Network mainnet

      Bridge assets to Mantle using Orbiter Finance or the Mantle Bridge. This may make you eligible for a potential Orbiter Finance airdrop too! Check here for our guide on how to bridge assets to Mantle using Orbiter Finance.

      To bridge assets to Mantle Network using their bridge, go to https://bridge.mantle.xyz/ and deposit any tokens from Ethereum Mainnet to the Mantle Network. You will also get a dust bonus in $MNT for this!

    6. Get $MNT tokens

      Get some $MNT tokens. You can buy $MNT on exchanges such as ByBit, MEXC or Gate.io.

      Learn more about ByBit with our guide and review.
      Sign up for Bybit today!

    7. Vote on governance proposals

      Find governance proposals here and vote on them. Note you will need $MNT for this.

    8. Interact with dApps on the Mantle ecosystem

      Interact with dApps on the Mantle ecosystem. This may also make you eligible for any potential airdrops the ecosystem projects may have! Do note however you will be using real funds for this.

    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: BitDAO allocated $100 million to incentivize developers to build on the Mantle Network. Moreover, they are also considering conducting an airdrop for protocol users.

    Airdropped Token Allocation: Token allocations for the community are not yet confirmed.

    Airdrop Difficulty: The steps are easy to do. All you have to do is bridge testnet $BIT and ETH from Goerli to Mantle Testnet. Crew3 and Guild tasks are optional.

    Token Utility: $BIT, the native utility token of BitDAO, offers holders benefits like voting rights, revenue sharing, and exclusive access to features within the BitDAO ecosystem. This includes Mantle Network.

    Token Lockup: There is no information available on token lockup for airdrops.

  • Sovereign Labs: Unlocking the Potential of ZK-Rollups in 2023 – Why This Project Should Be On Your Watchlist

    Sovereign Labs: Unlocking the Potential of ZK-Rollups in 2023 – Why This Project Should Be On Your Watchlist

    ZK-rollups could be one of the strongest performing sectors in 2023, as demand for Ethereum scaling solutions is increasing. As such, Sovereign Labs is one of the most promising upcoming projects in the ZK-rollup space. The team is well-funded and the development is on track to be completed in Q2 2023. As such, Sovereign should definitely be on your watchlist for 2023.

    Check out our zkSync article for another highly anticipated ZK-rollup project this year.

    What is Sovereign?

    Sovereign Labs, the team behind Sovereign, is creating an open, interconnected rollup ecosystem to make it easier for developers to deploy interoperable and scalable rollups on any blockchain. It’s been compared to Cosmos ($ATOM), but instead of layer-1 chains, Sovereign uses their software development kit (SDK) and inter-blockchain communication protocol (IBC) for ZK-rollups.

    Current Problems of Blockchain Scaling Solutions

    The current blockchain scaling solutions including application-specific layer-1s, optimistic rollups and ZK-rollups, all have their own drawbacks:

    1. Application-specific layer-1s are the easiest to design and implement, but require large amounts of capital from validators to secure the blockchain. This approach is only viable for a few well-funded blockchain apps.
    2. Optimistic rollups produce fraud proofs to prevent misbehavior. However, during an attack, fraud proofs can be censored, leading to long finality delays. This makes bridging out of optimistic rollups slow and costly.
    3. ZK-rollups share the advantages of optimistic rollups, but without the long finality delay. Large batches of transactions can be finalized with validity proof in a matter of seconds. However, ZK-rollups are incredibly difficult to build because it involves a very high level of cryptography and protocol engineering.

    Out of the three blockchain scaling solutions, ZK-rollups prove to be the most promising scaling paradigm despite the massive undertaking it requires to build them. As such, Sovereign aims to make it easier for developers to create secure and interoperable ZK-rollups, just like the Cosmos SDK did for layer-1 chains. As a result, developers do not need to be experts in cryptography to write their apps, allowing them to focus on the business logic of their chain.

    Who is the Team behind Sovereign?

    Sovereign Labs is co-founded by Cem Özer (CEO) and Preston Evans (CTO). Özer had worked as a smart contract and protocol engineer in ConsenSys, the company behind MetaMask. On the other hand, Evans had worked as a software engineer in Amazon, and has years of experience in computer science and machine learning.

    Sovereign aims to make scaling simple, supporting billions of blockchain users without sacrificing security. In late January 2023, Sovereign Labs raised $7.4 million in seed funding led by Huan Ventures with participation from Maven 11, 1KX, Robot Ventures and Plaintext Capital. According to CoinDesk, a spokesperson from Sovereign stated the fundraise puts the company’s valuation in the “eight-figure” range. The fund will be used to build the SDK and hire protocol and researchers with expertise in blockchains and cryptography.

    Properties and Key Features of ZK-Rollup SDK

    The Sovereign SDK will provide a set of default modules, a peer-to-peer network, a database, and an RPC node, and will abstract away the details of zero-knowledge. This way, developers can write their apps in Rust or C++, and the SDK will automatically compile it to an efficient zero-knowledge virtual machine.

    It will also use a novel bridging technique based on proof aggregation to allow rollups on a shared L1 to bridge back and forth at minimal cost without a trusted third party. Off-chain relayers can combine the proofs of all the peer rollups into one proof, which can then be verified on the chain. As the state transitions are proven to be valid, there is no need to pay fees to a liquidity provider or wait a week for transactions to be completed. This means that bridging can be done immediately with no drawbacks.

    Source: Sovereign

    The biggest feature here is that Sovereign SDK Rollups are able to be used on any blockchain, as the responsibility of verifying proofs is given to the user, not the original blockchain. This is what sets them apart from smart-contract rollups. As the data availability layer does not need to be able to check proofs, SDK rollups can be used on any blockchain without needing to be rewritten. This makes them incredibly versatile, creating an ecosystem of interoperable and scalable rollups that can run on any blockchain.

    When is Sovereign Launching?

    Sovereign is currently in the process of developing the SDK, which includes designing the default storage module, cryptoeconomics, and core APIs. They are also working on a research prototype which is currently integrating with modular blockchain Celestia for data availability and ZK virtual machine Risc0 for the proving system. This phase is expected to be complete around Q2 2023.

    Initial implementation of the SDK will begin afterwards, which they will implement a peer-to-peer network, RPC node, core APIs, default storage and sequencing modules. Once this feature is complete, the SDK will be repeatedly stress tested and audited for about six months until it is ready to be deployed across all mainnet chains.