Venom Testnet: One Month of Astounding Growth, Ecosystem Upgrades, and More
On April 25, 2023, we launched the Venom Testnet — a significant milestone that officially inaugurated the Venom Blockchain in the Web3 space. As a Layer-0 solution, the Venom Blockchain is designed for infinite scalability and interoperability, providing endless possibilities for global Web3 applications.
Nevertheless, rigorous testing is a rite of passage, as with all nascent technologies. The Venom Testnet had three main goals:
1. Enhancing Security: Inviting security researchers and developers to perform stress tests and report errors to strengthen the overall security of the network.
2. Improving User Experience: Identifying and addressing any issues to create a seamless experience for both crypto-curious and crypto-native users.
3. Building Community: Growing our community and engaging in conversations to improve our network and dApps based on their invaluable feedback.
As we approach the one-month anniversary of our testnet launch, here’s a quick recap and update on what’s to come.
Venom Testnet in Numbers
We received an overwhelmingly positive response for our testnet. In the first week alone, more than 220,000 unique wallets were created, and the numbers have continued to grow week after week.
To date, we recorded:
- 190M transactions
- 17M accounts (smart contracts)
- 576K wallets
- 3M NFTs minted as part of on-chain/social tasks
These numbers are a testament to the community’s belief in Venom’s potential. For that, the team is incredibly humbled and grateful to everyone who has participated in our testnet or showed their support in one way or another.
Venom Ecosystem: Exploring the dApps on our Testnet
We kicked off our testnet with a total of eight dApps, with the latest addition, Snipa Finance, launched just a few days ago.
Here’s a rundown of all the dApps currently live on Venom Testnet:
- Venom Wallet
A non-custodial wallet that allows users to store and transfer assets in the form of tokens and NFTs.
2. VenomPools (Currently offline)
Staking on validator nodes to earn rewards.
3. VenomScan
Explore and verify immutable transactions on the Venom blockchain.
4. VenomBridge
Transfer tokens across multiple chains at high speed and low cost.
5. VenomStake
Stake VENOM and earn rewards.
6. Web3.World
A decentralized exchange (DEX) for swapping, providing liquidity, and farming available assets.
7. Oasis.Gallery
An NFT Marketplace powered by the Venom blockchain.
8. VenomPad
A launchpad powered by Venom blockchain featuring innovative projects.
9. Snipa Finance (Newly Launched)
DeFi portfolio tracker designed for users to manage their assets.
To keep things exciting, we launched a series of tasks to encourage active exploration for all our dApps. Users had to complete a series of on-chain or social media tasks to unlock an exclusive commemorative NFT. The community’s general consensus was that they enjoyed this initiative, viewing it as a successful method for encouraging testnet engagement.
Testnet Updates: Improvements and Bug Fixes
As part of our goal to improve user experience, we developed a forum where testnet participants could ask questions and leave testnet-related feedback. At the same time, we’ve been actively monitoring and optimizing Venom’s infrastructure given the high network load from user actions.
Here are some of the major updates and improvements:
- Scalability upgrade for indexers, social and on-chain APIs
- Upgraded token claiming system
- Improved UI/UX for a smoother user experience
- Upgraded mobile user flow, since >40% of users interacted with our dApps via mobile
- Increased security measures on Discord
For dApps with market mechanisms, testnet tokens wouldn’t work since they don’t have any monetary value. Nevertheless, we made several changes in products such as the Oasis.Gallery NFT marketplace:
- Added additional NFT filters
- Limited the maximum sale price of NFTs
- Created a separate page on NFTs available for purchase
We would like to thank everyone for taking the time to share their experience, highlighting any pain points, and providing suggestions for improvements. Thanks to your feedback, we’re able to pinpoint issues quickly and resolve them efficiently, maximizing the stability and performance of our network.
The Road Ahead for Venom Testnet
The Venom Testnet has yielded impressive results, but we’re not one to rest on our laurels. We endeavor to build a blockchain for all users, and we will continue to develop, fine-tune, and optimize every single aspect of our infrastructure. We are actively partnering with esteemed projects to expand our ecosystem, and the next dApp you can look forward to is NUMI, a universal metaverse platform.
We have many more plans in our pipeline, and we’ll be expanding our offerings to include GameFi and SocialFi dApps. Here’s a sneak peek of what’s to come:
Once again, we would like to express our sincere gratitude to everyone who joined us on this journey. We’ve only just begun but our foundation is strong and we’ll continue to build through this bear market. Together with the support of our community, we’re certain that the future of Web3 is bright.
The Venom Testnet is still ongoing with more exciting dApps coming your way. Check it out if you haven’t already done so, and stay tuned for updates!
To find out more about Venom, check out the links below:
Website: https://venom.foundation/
Testnet: https://venom.network/
Whitepaper: https://venom.foundation/Venom_Whitepaper.pdf
Documentation: https://docs.venom.foundation/
Medium: https://medium.com/@venom.foundation
Twitter: https://twitter.com/venomfoundation
