Venom is a newly launched protocol that is designed to meet the requirements of real-world applications on the blockchain. Its unique architecture and technology allow Venom to provide users with high performance and security, making it an ideal platform for decentralized applications.
Venom Network is rewarding users who participate in its testnet by giving away free NFT passes to them. The project has also announced an airdrop for its ecosystem’s native utility and governance cryptocurrency VENOM. The airdrop might just be the best and simplest way to add more value to your crypto portfolio.
In this article, we will guide you through the entire process of obtaining VENOM coins through the airdrop. So, without further ado, let’s get started.
What is the Venom Airdrop?
Airdrop is a strategy used by crypto projects to grow and expand their influence within the community. It refers to the mechanism of distributing a portion of the token supply to early investors and network participants.
With its airdrop, Venom aims to distribute VENOM tokens to its community fairly and transparently. Participants can claim their share of the coins by completing certain tasks and following specific instructions. The airdrop is designed to incentivize and reward community engagement, which ultimately drives the interest and adoption of the Venom Network.
To get started, users need to install a VENOM-compatible wallet on their devices. The team recommends MetaMask, which allows them to easily interact with decentralized applications (DApps) deployed on Ethereum and Binance Smart Chain (BSC).
Once the wallet is set up, participants will be asked to complete a set of tasks, starting with joining Venom’s Telegram group, following all their social media accounts, and signing up for the Venom newsletter. This is a genius way for the project to increase community engagement as it ensures that people are constantly updated on related news.
Those who complete these tasks will be eligible to claim VENOM via the airdrop. The project has employed a tiered system, wherein, the token is distributed based on the number of tasks a participant has completed. The more tasks that have been completed, the higher the number of VENOM they can earn. With the tiered system in place, the project ensures that active community members are rewarded fair and squarely.
Once the airdrop period comes to a close, participants can check the online tracker to verify their allocation. This transparent process is one of Venom’s key aspects as it allows users to verify and confirm the distribution process.
Furthermore, those who claim VENOM via the airdrop also stand to earn additional rewards through yield farming or by acting as a validator node for the Venom Network. These activities help secure the Venom blockchain while allowing participants to contribute to the project and earn more token rewards.
How Does it Work?
The VENOM airdrop works based on a snapshot mechanism. The network captures the details of the wallets holding a specific token at a certain block height on the Binance Smart Chain (BSC). This is done to determine the eligibility of the airdrop participants.
Once the snapshot has been taken, testnet participants can verify their eligibility on the Venom airdrop website or through their Telegram channel.
What are the Venom Token Tiers?
The Venom airdrop is classified into 3 tiers, each with its allocation rewards encouraging participants to level up and earn more VENOM.
How to Participate in the Venom Airdrop?
Below we have mentioned the three simple steps involved in the process of obtaining VENOM through the airdrop.
1. Visit the Venom Airdrop Website
The first step towards getting your hands on the Venom airdrop is to visit the official website. This takes you to the page where all the magic happens and the platform can be used to get yourself familiar with the project and understand the core concept behind it.
2. Connect Your Active Wallet
The next step involves connecting your wallet to the website to make sure that you can receive your airdropped tokens securely. On the website, you will find a toggle with the option to connect your wallet. Click on it and a dropdown menu will show you the compatible wallets.
Choose the wallet that you are using and follow the instructions provided to establish a connection. Before moving on to the next step, make sure that your wallet is funded and actively used. The project recommends holding tokens compatible with BSC.
3. Get the Airdropped tokens
The final step is to get the VENOM in your hands. After successfully connecting your wallet, look for an option on the website that allows you to claim or receive the airdropped tokens. Click on the button, and within seconds, you will see that the tokens are transferred to your wallet.
Congratulations, you are now officially part of the Venom airdrop community!
Conclusion
The Venom airdrop is an exciting opportunity for crypto investors to earn tokens as rewards for actively participating in its development, via a transparent and fair distribution process.
You can maximize the chances of earning these valuable tokens by understanding the project’s basics and working mechanisms.
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