What Token does Venom Foundation have?
The native currency of the Venom blockchain, $VENOM, has a variety of uses. Transaction fees are paid using it, which supports network upkeep and pays validators. Additionally, it protects the network via a proof-of-stake system and enables network users to fund validators through DePools staking.
The $VENOM coin has an unlimited supply, according to its whitepaper. With a 1% predicted yearly inflation rate, it has an inflationary model. The Venom Foundation is, however, looking for methods to make the switch to a deflationary paradigm.
How to Receive the $VENOM Token Airdrop?
Interacting with the Venom Network Testnet is the best way to get the $VENOM airdrop. Here is a detailed instruction:
Make a Venom wallet
Install a Venom Wallet by going to the Venom Network Testnet. At the upper right, pin the wallet to your Google Chrome extension. To receive 50 testnet $VENOM coins, link your Twitter account to your Venom wallet.
Obtain Testnet $VENOM Tokens
Log in with your Venom Wallet on the Task page. To receive 50 testnet $VENOM, connect your wallet, Twitter account, and follow Venom Foundation.
By doing other activities on the Faucet page, you may earn more testnet tokens. To get more testnet Venom, you’ll have to do a variety of activities.
Complete Venom Foundation tasks
Join Telegram and subscribe to Venom Foundation’s YouTube channel on the task page. By clicking “Mint NFT” when that is complete, you may retrieve your NFT.
Accomplish tasks in Venom Wallet
Access the task page. Send at least 1 token of the VENOM cryptocurrency to 0:077873f1453fa67b0f1ce77f1e806675acd19c4694b9738be61fd406618f2f7a. Then select “Mint NFT”.
Complete Web3.World tasks
Join the Web3.World Telegram Channel on the task page, then trade any token accessible on testnet.web3.world for any other token. Mint the NFT after that.
Use Venom Bridge
Access the task page. Participate in the Venom Bridge Telegram channel. Afterward, transfer tokens from Venom chains to EVM chains. Visit https://testnet.venombridge.com/bridge to link your Venom and EVM (such as Metamask) wallets first. Choose “Venom Testnet” and “Binance Smart Chain” accordingly for the “From” and “To” boxes. Turn off the “Swap TVENOM to pay BSC gas” option and choose the number of Venom tokens you wish to transfer. Accept the transaction by clicking “Continue”. Following that, select “Only My” under the “History” tab to locate that transaction. For the Binance Smart Chain to release the transfer, click the transaction and then “confirm.” Do the transaction later by switching from Binance Smart Chan to Venom Testnet, or do it in reverse.
Claim Snipa Finance NFT
To get your free Snipa Finance NFT, go to the task page and do the tasks listed there.
Stake Venom
Click the task page. Visit https://testnet.venomstake.com with your Venom wallet connected. Click “Stake” after selecting the wagering amount. By selecting the “Unstake” option, the quantity you want to unstake, and then clicking “Unstake,” you may also unstake your Venom at any moment. Click “check” on the task page; you might need to wait a while for the checking to be successful once the job has been finished. then mint the NFT.
Trade NFTs on Oasis Gallery
On the task page, you can find the instructions. On Venom, there is an NFT market called Oasis Gallery. Buy any NFT here from Oasis Gallery. Select the NFT you want to purchase, sign in with your Venom wallet, then click “Buy now” to complete the purchase. then click “Check” on the task page after returning there. Go to the “My NFTs” option on the Oasis Gallery website and then post your NFT for sale there. Click “Put for sale” after selecting your NFT. Select a sale price, then approve the deal. Click “Check” one more on the task page, then mint your NFT.
Complete VenomPad tasks
Access the task page. Keep up with VenomPad on Twitter. When all the tasks have been finished, click “Check.” minte the NFT.
Purchase NFT on Nümi
Visit the task page. Watch the video, tweet about Nümi, and purchase any NFT on Nümi.
Airdrops of Nümi tokens shall be sent out to anybody who created Venom wallets before to June 2023. To view it, use the refresh button at the bottom of your wallet. If you don’t already have any Nümi tokens, you can exchange them for VENOM tokens at Web3.World. After creating an account and having some Nümi tokens, you may purchase an NFT on the Nümi Marketplace. mint the NFT at the end.
Mint Ylide NFT
Visit the Ylide task page. Tweet about Ylide. Next, submit an on-chain message by connecting your Venom wallet to https://hub.ylide.io/feed/venom. Lastly, mint your Ylide NFT.
Complete Gravix tasks
Access the task page. Tweet about Gravix. Open a long/short position after logging onto https://app.gravix.io with your Venom wallet connected. But in order to start a position, you’ll need USDT. Visit https://testnet.web3.world/swap and first exchange some $VENOM for $USDT if your Venom wallet is empty of USDT. Mint your NFT lastly.
Collect Qamon NFT
Visit https://venom.network/tasks/qamon. Send a chain message at https://app.qamon.io and follow Qamon on Twitter. The NFT should then be minted.
Burn Venom
Visit the task page for Venom Burn. On Twitter, follow Venom Burn. Then, burn any quantity of VENOM for any project at https://testnet.venomburn.com. Your NFT should be mint.
Complete OneArt tasks
Head over to the OneArt task page. On Twitter, follow OneArt. Then, use the seed phrase to import your Venom Wallet using the OneArt mobile app that can be downloaded here. A popup will appear requesting you to mint your NFT if you have at least three VENOM; select “Mint” to proceed. Go return to the task page and mint your other NFT after you have minted your OneArt Welcome NFT.
Wrap $VENOM tokens
Check out the Swap page. Select the quantity of VENOM and WVENOM tokens. When you’re ready, click “Wrap VENOM” to confirm your purchase.
Provide liquidity
Click “Add Liquidity” after going to “Liquidity Providing”. Connect to the pool, authorize the transaction, enter the desired amount, and then continue. After that, add tokens to the wallet and confirm the transaction. Click “Supply tokens” after that to confirm the transaction.
Deposit into farming pools
Pick the USDT/WVENOM pool under the “Farming” option. Next, choose the lock-up duration and input the deposit amount. When asked, click the deposit button to confirm the transaction in your Venom Wallet.
Finish tasks to get NFT rewards
Connect your wallet to https://venom.network/tasks on a regular basis. Complete any fresh tasks; more will be added shortly!
How to mint Venom NFTs
For using the Venom testnet and for demonstrating your participation with the ecosystem, you can mint Venom NFTs as a reward. They could be essential for future airdrop prizes! Here’s a how-to list in detail:
- Choose “Complete tasks” from the menu at https://venom.network/tasks. Twitter users should follow Venom Network and tweet about the Venom Testnet. To mint your Venom NFT, click “Mint” after that.
- Once you have their address, you must transfer any quantity of Venom tokens to them. Once you’ve completed this, click “Check” so that you may mint your NFT.
What exactly is Venom Foundation?
A new layer-0 blockchain called Venom Foundation proposes a world economy with decentralized, blockchain-based financial systems. They are a new participant in the real-world assets (RWA) with the transparency of a blockchain (appchain) field for financial application-specific blockchains. The financial regulators in Abu Dhabi have complete control over them.
The Venom Foundation’s design, which is based on its own Threaded Virtual Machine (TVM), is essentially a modular blockchain. This enables dynamic sharding and an asynchronous communication paradigm for the effective execution of smart contracts.
The Venom blockchain should be able to manage interactions between accounts more efficiently than EVM-based networks, allowing for more parallel processing and faster transaction times. The objective of validators is to provide the backbone for the next generation of digital services and products as the network faces significant loads, splitting into parallel groups and handling transactions through “split events.”
