I have written about the Venom Blockchain before and really like their approach of utilizing sharding and dedicated workchains to achieve a maximum of scalability and security.
This week, Venom testnet went live and as you might have seen on my Twitter, there have been hints at an airdrop:
In this article, I will walk you through the first 3 sections of the testnet tasks.
If you need additional help, follow on Twitter and get in touch; I am always happy to help my readers.
Getting set up on the Venom blockchain and creating your wallet is super easy so I won´t go into much detail here. Just go to venom.network and follow the instructions in the “How it works” segment.
Below, I will guide you through the tasks on the testnet. At the end of each task, you will get a Venom NFT.
My best guess is, your airdrop allocation will depend on the number of NFTs you hold.
Section 1: Venom
The tasks here are super easy to complete; you´ll only need your Twitter account ready.
The tasks are pretty much self-explanatory and you only need to give Venom access to your Twitter, click the “Follow” and “Tweet” buttons, and follow the instructions.
Once you have done so, and Venom has checked the completion, the “Mint” button on the right will be accessible.
You then only need to confirm the transaction in the wallet pop-up and your free Venom NFT will be minted.
Finally, you will get your first Venom NFT and are on track to finish Venom testnet:
Section 2: Web3.World
This section gives you exposure to your first Venom dApp: Web3.World, a DEX on Venom DEX that enables seamless trading by pooling liquidity from investors.
The first task again is purely Twitter-based so I will not go into that; simply follow the instructions.
The second task, however, requires you to interact with the DEX so I will go into more detail.
First, follow the link to Web3.World and connect your Wallet.
Once you have connected your wallet, you will see the testnet $VENOM in your account and you can make your first trade.
Note: If you do not see any testnet tokens here, go back to the testnet landing page and you will see a button “Need more Venom”.
As an example, I will exchange 10 $VENOM for some $USDT.
As before, you´ll need to confirm the transaction in your wallet.
After a few seconds, the swap will be executed and you will see $USDT in your wallet.
Next, you will need to add some liquidity to a Web3.World pool.
Head over to “Liquidity Providing” and click “Add liquidity”.
Since there is no $VENOM / $USDT liquidity pool, you will first need to wrap some $VENOM into $WVENOM.
To do this, click the small button saying “wrap” you can see on the bottom right of the following screenshot.
Here, you can wrap some of your testnet $VENOM so you can use them in Web3.World liquidity pools.
Once you have your tokens, go back to “Liquidity Providing” and add your tokens to the pool. You will be asked to confirm the deposit of each kind of token separately; this allows you to double-check your entries and adds a layer of security.
After confirming all 3 steps, you will get the LP tokens that you need for the final step of this testnet task: Liquidity farming.
Go to Web3.World´s “Farming” section to stake the LP tokens you have received in the step before to generate some additional testnet rewards.
Select the farming pool you need (USDT/WVENOM in our case) and deposit your LP tokens. You are now generating farming rewards on your LP tokens.
After you have completed all of these steps, it is time to reap the rewards of your work.
Go back to the testnet task page, click “Check” on all tasks you have completed and mint your NFT.
Section 3: Venom Wallet
This is a super easy task to complete. All you need to do is send some testnet tokens to a predefined wallet and mint your NFT.
To do this, go to your Venom Wallet (I use the browser extension), click “send” and send some tokens to the address defined in the task.
Once the transaction has been processed, you can go back to the Venom testnet task page and claim your NFT.
Conclusion
Venom´s testnet is super easy to use and very intuitive so I do not expect any of my readers to run into issues here. The tasks are thought through well and give a good overview of the most important areas of the Venom blockchain.
I did not encounter any issues with blockchain speed or transaction errors so Venom has, so far, confirmed the high hopes I had.
As you can see on the testnet page, we have only covered 3 out of 8 tasks that are currently live and 10 additional tasks will only go live in the next couple of days.
I will follow up with a walkthrough of the next steps later this week, so make sure to subscribe to my Medium account and email list to get an edge in a potential $VENOM airdrop.
If you have problems, follow on Twitter and get in touch with me; I am happy to help you at any step.
Also, I suggest you follow Venom Foundation on Twitter to stay up to date.
