Venom Foundation, a blockchain company based in Abu Dhabi, is causing a stir with its mission to boost emerging economies using advanced blockchain tech. With approval from UAE's ADGM, they've recently put aside a massive $1 billion fund for Web3, blockchain, and crypto projects.
Here, we explore the Venom Blockchain's promise. We assess the chance of a future $VENOM token airdrop and provide a step-by-step prep guide for the possible airdrop.
Discovering the Venom Blockchain
Venom blockchain is a new player that uses the Byzantium Fault Tolerance consensus algorithm, offering quick, secure, and scalable solutions for various sectors.
Venom aims to bridge the gap between traditional finance and the decentralized crypto world. They target markets like CBDC, CBDC-backed stablecoins, Proof of Reserves mechanisms, finance for the unbanked, and microtransactions. Unique features include dynamic sharding, hybrid consensus, and an asynchronous architecture. About the $VENOM Token
The native $VENOM token drives the Venom blockchain ecosystem. It's currently an inflationary utility token but plans to transition to a deflationary model. $VENOM tokens serve roles like rewarding validators, boosting network security, delegated staking, and governance. Could a $VENOM Airdrop Happen?
Venom Foundation intends to reward early adopters. Their whitepaper suggests that 22% of the initial token supply might go to the community via an airdrop for early users. Details here: https://venom.foundation/Venom_Whitepaper.pdf
To potentially receive $VENOM tokens, you'll need to engage with the Venom Network Testnet. Here's how to prepare for a potential Venom airdrop. Step-by-Step Guide
1/ Set Up a Venom Wallet
Visit https://venomwallet.com, install a Venom Wallet (also for Chrome and Brave). Make a new wallet, keep your seed phrase safe.
2/ Claim Testnet $VENOM Tokens
Go to https://venom.network/tasks, log in with your Venom Wallet. Connect your Twitter, follow Venom Foundation, and claim 50 $VENOM.
3/ Finish Venom Ecosystem Tasks
At https://venom.network/tasks, complete tasks for each DApp to earn an NFT. NFTs represent your involvement and could lead to airdrop rewards.
4/ Join Venom Discord
Be part of Venom Discord for updates and chats.
5/ Optional: Enter Venom Hackathon
Join the hackathon, build on Venom, and compete for a share of $225,000.
Wrap-Up
That's it! All you need to know about Venom Foundation and the potential $VENOM token airdrop. This Abu Dhabi blockchain venture is geared up to make waves in the crypto world. Keep an eye on this innovative blockchain – it might just be the next big thing!
