The NEXT BIG Crypto Airdrop Opportunity is Venom

COTI, IMX, and INJ. What do these coins have in common? Since January 2023, these tokens have soared. COTI is up 50%, IMX 200%, and INJ pumped 700%. But what if I tell you that they have something else in common? These blockchains are appchains, and it is the next big crypto narrative. 

Right now is the best time to get into a potential appchain token, and what better than getting these tokens for free. Yes, you heard me right. Venom, a potential appchain has released its testnet and there might be an airdrop of 1.53 Billion Venom tokens to early users. Just like Arbitrum. 

Let’s take a look how to get a share of these tokens. Don’t miss the end of this article, as there is a twist. I also have provided a detailed hack for you at the end. Before I get into the details of the big airdrop opportunity. Let me very quickly explain what is Venom.

What is Venom?

Venom is a blockchain that tokenizes real-world assets. That’s another hot crypto narrative, RWA’s. Just like Realio (RIO), Goldfinch (GFI), Centrifuge (CFG), or Chainge (CHNG). Now, Venom, a new appchain, just launched their testnet. I covered Venom in March. See this recent article. 

And what do we do on a testnet? Right, testing. So, let’s have a look at the tasks that you need to complete. Completing these tasks may put you in a hotspot for a potential airdrop. To clarify, that’s a likely airdrop, but not confirmed. 

However, in their white paper, there’s a 22% token allocation towards the community. This is expected to be an airdrop to early users, just like Arbitrum. Just keep in mind that this is a testnet. It may be slow at times. The wallet transactions may take up to a minute or longer. So be patient!

#1 Set Up a Wallet

Before we start, you need to download the non-custodial Venom Wallet. That’s available as an iOS, Android, or Chrome extension app. I used the Chrome extension. To clarify, other wallets don’t work on Venom!

Now go to the Venom Testnet. 

  • Your first task is to connect your wallet. 
  • The second task is to connect to your Twitter account and follow the Venom Foundation. This earns you 50 free Testnet VENOM tokens. 
  • So, now you’re all set for your testnet journey. 
  • You need to collect 8 NFTs, by doing tasks. 

Now continue with some simple and easy tasks. For example:

  • Follow the Venom Network on Twitter and Tweet about them. 
  • After successfully completing a task, you can mint an NFT.  
  • Done, that’s your first out of 8 NFTs earned.
#2 More Tasks – Staking

Most tasks are easy and straightforward. So, let’s start with them. I show you how you can complete, for instance:

  • Staking. 
  • Liquidity providing.
  • Farming.

In this staking task, you do it with a validator. I staked 5 VENOM and received 4.74 stVENOM. The APY is 12%. To add to a liquidity pool, you need to: 

  • First, you need to swap Venom for some USDT. I swapped 10 Venom and received 3.07 USDT. 
  • Now you can add this to the pool.
  • This gives LP tokens. I received 5.7 LP tokens.
  • With these, you can start farming. I locked them for 20 days and received a x1.33 boost. The longer you lock them, the higher your boost.

#3 Bridging

This is most likely the most challenging task. Because you go to a live, mainnet chain. In our case, I picked the BNB chain. The Fantom chain is another option. For this, you need TVENOM, so you need to start with a swap. I swapped 20 VENOM to TVENOM. 

The reason for swapping this much is the fees when bridging back from BNB. You need to pay a gas fee, bridging back. If you swap enough TVENOM, it will be a couple of cents. I paid around $0.15 in BNB. If you don’t send this TVENOM, the gas fee may be as much as 0.2 or 0.3 BNB. 

So, how are you doing so far? Do you like this testnet? If by now you’re running low on VENOM tokens, I have a solution for you.

#4 Getting Additional VENOM Test Tokens

You can get more testnet tokens. On top of the testnet page is a ‘Get Testnet VENOM’. See the yellow box in the picture and the yellow arrow:

  • Every day you can earn 5 VENOM.
  • There are also easy tasks on earning more VENOM. Join a handful of Discord servers. The links are on their websites. 

Each time you get 15 to 40 more tokens. I got another 100+ tokens this way. My current balance is 90 tokens after I completed all tasks.

#5 Minting an NFT

The last task, I want to show you, has a bit of a twist. You need to mint an NFT on Oasis Gallery. The twist is, that it’s difficult to find an NFT to mint. So, here’s my insider tip. 

  • Make sure to activate the ‘buy’ button. You can choose between ‘auction’ and ‘buy‘.
  • Go to one of the four collections.
  • Scroll down until you see the ‘load more‘ button and click this button.
  • Repeat this a few times.
  • Now you can pick an NFT and mint it.
  • Once minted, you need to put it up for sale. I posted mine for 5 VENOM.

Once you have completed all the tasks, make sure to make a screenshot of the 8 NFTs that you collected. Then, go to their Discord server and post the following 3 items:

  1. The screenshot.
  2. Your wallet address.
  3. And leave a comment about your experience in the ‘completed tasks’ channel.

There will be more tasks to follow. It looks like another 12 in total.

And that’s all, folks. Just a reminder. It’s a testnet. At times, it may be slow. Transactions in your wallet may take up to a minute or more at times. Be patient and don’t forget to enjoy it!

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Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This article has been sponsored by Venom. Copyright Altcoin Buzz Pte Ltd.

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