Venom TestNet Potential Airdrop Guide (2023)

3 min readApr 28, 2023

Venom is an innovative layer-0 blockchain platform that envisions a decentralized global economy powered by blockchain-based financial systems. Emerging as a new player in the financial app chain space, Venom Foundation offers real-world assets (RWA) with unmatched transparency through blockchain technology.

Fully regulated by financial authorities in Abu Dhabi, Venom Foundation’s architecture is centred around a modular blockchain built on its proprietary Threaded Virtual Machine (TVM). This unique approach enables the execution of smart contracts through an asynchronous communication model and dynamic sharding.

Unlike traditional EVM-based networks, Venom blockchain is designed to handle interactions between accounts more effectively, allowing for enhanced parallelism and reduced delays. During periods of high network loads, validators dynamically divide into parallel groups and process transactions through “split events.” This innovative approach ensures smooth and efficient operation of the network, even during peak demand. With a mission to serve as the infrastructure for the next generation of digital services and products, Venom Foundation is poised to revolutionize the world of decentralized finance.

Funding background

Venom Foundation has joined forces with investment manager Iceberg Capital to launch a groundbreaking venture fund called Venom Ventures Fund (VVF), with a total capital of $1 billion.

You can read the full news here

Tokonomics

Venom’s native token $VENOM is confirmed. It will be utilized for paying transactions and supporting the network’s maintenance and validators’ compensation. Moreover, $VENOM plays a critical role in securing the network through a proof-of-stake mechanism, and it allows participants to support validators through De Pools staking.

In contrast to having a fixed maximum supply, the $VENOM token operates under an inflationary model, with an estimated annual inflation rate of 1%, as stated in the whitepaper. However, the Venom Foundation is actively exploring options to transition to a deflationary model in the future.

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How to participate the Airdrop?

Step 1: - Install venom wallet to your Google Chrome

Download extension here
(if you are trying to use mobile device, use KIWI browser)

Step 2:- Claim testnet venom tokens from their faucet

Go to this faucet. Do the tasks and claim your tokens. Just by follow their twitter and join couple of discord and you will get 80 venom tokens free. Also, you can get free 5 tokens every 24 hours.

Step 3: - Complete all the tasks...