VRD Testnet: Staking and Airdrops

ViridisNetwork
4 min readJan 8, 2024

The $VRD EVM Testnet is currently live. With a core user-base currently claiming from the faucet, building transactions on-chain, and interacting with our endpoints, the chain has proved itself technically.

Now, it’s time to accelerate adoption.

To massively grow the chain, and test our features as they come at a larger scale, we are announcing a large extended airdrop campaign. In an effort to align with our mission, the Viridis testnet will reward users utilizing our tools.

Over the testnet period, there will be a protracted airdrop of of 10,000,000 $VRD tokens, equivalent to 1% of total supply, representing an approximately $100,000 airdrop! The implementation of this airdrop comes with a host of crucial features, for both mainnet and testnet! The airdrop mechanism is to be executed through implementation of a points based system.

Staking Mainnet $VRD

The first, critical, criteria will be locking $VRD on mainnet. That’s right — we will have the first version of mainnet staking for $VRD going live this month. On initial staking of $VRD, there will be a 14 day unlock period. But the longer you stake and the greater the tokens staked, the greater the chance and quantity of airdrop rewards! At the release of the Viridis L2 Mainnet, staked $VRD can be bridged to mainnet where users’ reward points will carry over. Further details will be announced in a new ‘staking’ section within our docs, coming this week.

Supplementing Staking Rewards

Users will be able to gain additional point rewards through interaction with the testnet and the referral system. The number of points obtained by each user will directly correlate to the proportion of the airdrop received. While every specific qualifying interaction will not be made public prior to the snapshot, there are a wide range of qualifying actions so be sure to immerse yourself fully within testnet to maximise your chances!

Community-Wide Incentives!

Furthermore, in order to encourage our growing community to keep their tokens locked in anticipation for the mainnet, the airdrop supply will be subject to increase. Hence the larger amount of $VRD tokens staked, the larger the airdrop will be. For example, if TVL is 100,000,000 $VRD tokens and is attributed to 1% total supply airdrop, then the community’s next milestone to reach will be 125,000,000 $VRD tokens staked for 1.25% total supply airdrop. Note this is a reference example and the exact growth and incentive figure will be confirmed on release of the airdrop and referral system. However, we can confirm that at least 1% of VRD supply will be airdropped during this campaigned!

We can also confirm that interactions prior to staking goes live can also contribute to the airdrop, so don’t hesitate to play around on Viridis testnet. Refer to this post to get started.

How do I become eligible for the airdrop?

  • Staking: Don’t worry! We want to make this airdrop accessible to all kinds of users. However, a non-zero amount of $VRD must be staked.
  • Follow us on Twitter/X: It is very important to us that our community is updated on the latest developments in anticipation for our mainnet release. In addition, we will first announce on twitter/X when the airdrop has been completed.
  • Referral: Users must refer one other new user to the testnet and have them complete the two eligibility requirements above in order to become eligible themselves for the airdrop.

Airdrop Rewards

Staking

Users that stake their $VRD tokens for a period greater than 14 days will receive:

Hence users with 1,000,000 VRD start with 10,000 points, users with 100,000 VRD start with 1,000 points and users with 10,000 VRD start with 100 points. All $VRD tokens staked will be available to bridge to mainnet at launch.

Referral System

There is a minimum requirement of one referral for qualification into the airdrop. Using the points system described above, users that have referred others will receive an additional 20% of their referred users’ total points. Points gained by User B from referrals from user C will not be recycled and contribute to user A that referred user B. This will help mitigate the accumulation of initial referral codes reaping all of the airdrop, in addition to ensuring a fairer distribution among all airdrop participants.

Testnet Interaction Rewards

There will be a multiplier for users utilizing their staking wallet on VRD testnet, with points allocated to various activities; the exact criteria will not be shared until after the snapshot, but we encourage participants to be active to maximize their airdrop.

Good luck!

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