Turnkey Airdrop Step-by-Step Guide

Introduction

This comprehensive guide will walk you through the steps to interact with the Turnkey Testnet for a potential airdrop. Turnkey is a project focused on secure and flexible wallet infrastructure, and participating in their testnet can position you for future rewards. While the exact criteria for an airdrop are often unannounced, engaging with the protocol’s features during its testnet phase is a common strategy for airdrop hunters.

Step-by-Step Turnkey Testnet Airdrop Guide

Follow these instructions carefully to maximize your chances of a potential Turnkey airdrop:

Step 1: Sign Up with Email

Navigate to the Turnkey Testnet wallet at https://wallet.tx.xyz/. You will be prompted to sign up using your email address. Enter your email and proceed with the email confirmation process.

Step 2: Export and Backup Your Wallet

Once you have successfully signed up and logged in, it is crucial to export and securely back up your wallet’s seed phrase or private key. Look for an “Export” option within your wallet interface. This step is vital for the security of your funds and to ensure you can recover your wallet if needed. Store this information in a safe, offline location.

Step 3: Fund Your Wallet with Sepolia ETH

To interact with the Turnkey Testnet, you will need Sepolia ETH, which is a testnet cryptocurrency. You can obtain Sepolia ETH from various faucets available online. Search for “Sepolia ETH faucet” to find resources that provide free testnet ETH. Once acquired, send the Sepolia ETH to your Turnkey Testnet wallet address.

Step 4: Send Sepolia ETH to Another Address

To demonstrate activity on the testnet, send Sepolia ETH from your Turnkey wallet to another address. This could be a friend’s Sepolia address or any other valid Sepolia address. The provided address 0x78B332c2AC94D5B2045fCdCd1a41B96Ae0A216cA can be used for this purpose. Performing this transaction helps to register your activity on the testnet.

Step 5: Send Daily (Optional but Recommended)

To increase your chances of a potential airdrop, it is often recommended to engage in consistent activity on the testnet. Sending Sepolia ETH daily to another address can be a way to show continuous interaction with the protocol. While not explicitly stated as a requirement for an airdrop, consistent engagement is a common factor considered by projects.

Project Overview: Turnkey – Secure Wallet Infrastructure

Turnkey is a crypto infrastructure company focused on providing secure, flexible, and scalable wallet infrastructure. Its core offering is private key management made simple, allowing users to create wallets, sign transactions, and automate on-chain actions through an elegant API. The project aims to address usability and security issues prevalent in existing crypto wallets, which have historically hindered broader crypto adoption.

Key Features and Approach:

Turnkey’s approach to wallet infrastructure is built around several key primitives:

• Embedded Wallets: Designed to increase conversion rates with seamless, in-app wallet experiences.

• Smart Wallet Signer: Leverages account abstraction to facilitate the development of user-friendly decentralized applications.

• On-chain Automation: Enables the automation of complex crypto transactions.

• Authentication: Supports familiar login methods like OAuth, passkeys, and email for faster user onboarding.

• Wallets & Signing: Provides secure, non-custodial wallet creation and high-speed transaction signing.

• Policy Engine: Allows for the creation of granular policies to manage transaction limits, user permissions, and enhance operational security.

• Sessions: Facilitates user sessions for transaction signing without requiring additional approvals.

Cryptographic Security:

Turnkey emphasizes cryptographic security from first principles, ensuring:

• Non-custodial: Users maintain full control over their wallets and private keys.

• Enterprise-grade: The team brings expertise from building Coinbase Custody, focusing on robust key management solutions.

• Secured by Trusted Hardware: All applications and services operate within secure enclaves (Trusted Execution Environments – TEEs).

• Verifiable: Turnkey’s code is designed to be independently verifiable, promoting transparency and trust.

Team Information:

Turnkey was founded by former Coinbase Custody builders in 2022. While a comprehensive list of all team members isn’t readily available through general searches, key figures and their backgrounds are often highlighted in funding announcements and company profiles. The team is described as low-ego, high-slope, and crypto-native, with over 100+ years of combined experience in cryptography, security, and low-level systems.

One of the co-founders and CEO is Bryce Ferguson [7]. Other notable individuals associated with Turnkey include Jack Kearney and Sam McIngvale [10]. The team’s background in building institutional-grade crypto custody solutions at Coinbase provides a strong foundation for their focus on security and scalability.

Funding Information:

Turnkey has successfully raised significant capital from prominent investors in the crypto and venture capital space. Most recently, Turnkey announced a $30 million Series B funding round [2, 3, 5, 7, 9]. This round was led by Bain Capital Crypto [9], with participation from other notable firms such as Sequoia Capital and Lightspeed Faction [6].

This Series B funding brings their total raised capital to $52.5 million [5]. The funds are intended to be used for scaling the team, expanding their modular infrastructure, and focusing on open-source contributions.

Revenue Model:

While specific details of Turnkey’s revenue model are not explicitly outlined in publicly available information, based on their offerings as a

B2B (business-to-business) infrastructure provider, their revenue model likely revolves around charging businesses for the use of their APIs and services. This could include:

• Tiered API Pricing: Charging based on usage, such as the number of wallets created, transactions signed, or API calls made.

• Licensing Fees: A one-time setup fee or recurring licensing fees for access to their platform and features.

• Maintenance and Support: Fees for ongoing maintenance, updates, and customer support.

While specific pricing details are not publicly disclosed, their focus on providing a scalable and secure solution for businesses suggests a service-based revenue model common among infrastructure providers in the tech industry.

Conclusion

Participating in testnets like Turnkey’s offers a valuable opportunity to engage with emerging blockchain technologies and potentially qualify for future airdrops. By following the steps outlined in this guide, you can actively contribute to the Turnkey ecosystem and position yourself for potential rewards. Remember to always prioritize security by backing up your wallet information and exercising caution with testnet funds.