Lava is a modular blockchain infrastructure project that aims to provide decentralized and scalable access to on-chain data through a network of providers and consumers. The protocol utilizes the proof-of-stake consensus mechanism to ensure network security and incentivize participants through its native LAVA token.
Recently, the project announced a token airdrop to go along with the launch of its mainnet. In this article, we will look at how you can claim one of the most coveted cryptocurrencies to be listed this year. This is a step-by-step guide on everything you need to know about the LAVA airdrop, from what it is to how you can participate in the event to when it will be launching.
So, without further ado, let’s get started.
What is Lava and How Does It Work?
Lava is a modular network that seeks to address the challenges faced by blockchains when using the traditional slow and time-consuming methods to access and generate data. The protocol solves this bottleneck by creating a decentralized network of providers and consumers.
While providers can share their data on the blockchain with consumers, the consumers can access this data more efficiently and cost-effectively on the Lava’s protocol.
Consumers who access the data on the blockchain are required to pay a fee in the LAVA token, a portion of which is used to incentivize the providers who share their data with the network
The blockchain is relatively new and has just secured funding from some well-known venture capital firms. Lava is preparing to launch its native LAVA token, which will be a significant step forward for the team behind it.
What is the LAVA Token Airdrop?
The Lava Airdrop will see the Lava blockchain officially launch its native LAVA token to network participants and investors. Details regarding the token distribution event have finally been revealed.
Lava will airdrop 50 million LAVA to an estimated 70,000 wallets. The drop is community-first, hence it will be distributed in the following order:
- Lava core testnet and Magma points users
- Top community members of high-conviction communities
- Lava Node runners
- Technical contributors and researchers
Who is Eligible for the LAVA Airdrop?
Any crypto user can participate in the Lava token airdrop event as long as they are an active contributor to the Lava protocol. However, the blockchain prioritizes its most active participants over others.
To verify your eligibility, visit the airdrop page and connect your wallet, and you will be notified of your LAVA allocation. However, only active wallets with a minimum balance will be eligible for the airdrop. Newly created or inactive wallets will be declined.
How to Claim LAVA Tokens From the Airdrop?
Here is how you can claim LAVA tokens from the token distribution event:
- Visit the official LAVA airdrop website
- Tap on the ‘Claim’ button to go to the LAVA Claim Portal
- Connect your wallet and Discord account to verify your eligibility
- Copy your Lava testnet address and submit it to the page
Voila! Your registration is complete and Lava will airdrop your allocated token when the mainnet goes live.
Is the LAVA Airdrop Free?
Yes, it is free to participate in the LAVA airdrop event. All you need is an active wallet and a small balance to pay the network fees when conducting the transaction.
When is the LAVA Airdrop?
The Vesuvius Airdrop, as the event is called, will be the first-ever token distribution event hosted by Lava. The project has confirmed that it will deploy 50 million LAVA on its mainnet on July 18th.
Apart from the tokens, early users and contributors to the network will receive additional rewards and benefits. Furthermore, those who receive LAVA via the airdrop will also be able to stake and re-stake their tokens to earn more rewards.
Final Thoughts
The LAVA airdrop event is a chance to get your hands on one of the most highly anticipated token launches this year. The Lava network aims to solve a significant issue in the blockchain sector, setting the stage for faster, energy-efficient, and cost-effective distributed ledger networks.
The protocol incentivizes both its data providers and consumers and is looking forward to making blockchain more accessible to those searching for digital data.
To make sure that you won’t miss out on the airdrop, please follow Lava’s social media pages and join their Discord and Telegram groups.
Read more: Guide To Claim Avail Airdrop; Eligibility & Launch Date
