Venom Testnet: Complete Tasks and Earn NFTs

Venom is a highly scalable layer 0 multi-blockchain with the first operating license from ADGM (Abu Dhabi General Markets). The blockchain infrastructure consists of fast, low-fee transactions and infinite sharding that supports CBDCs and WEB3 applications.

This is a project that is building a decentralized platform for the exchange of digital assets and the provision of services related to blockchain technology. They launched a testnet in order to test the performance of their platform and get feedback from the community.

More details about the project and the technologies they use can be found in their documentation.

Investments:

Abu Dhabi-based blockchain platform Venom Foundation and investment manager Iceberg Capital announced that they will provide $1 billion in funding for Web3 and blockchain companies through a new partnership.

Thoughts:

They recently launched a testnet you don’t want to miss! During testing, you will be collecting Early User NFTs which may earn you rewards for in the future. 22% of the total supply of tokens is allocated to the community, which is very sizeable. Nothing has officially been announced in regards to testing rewards yet. For now, we are testing the protocol and waiting for announcements.

In the instructions below, we will describe in as much detail as possible how to get all the NFTs available at the moment. Let’s start testing!

Table of Contents

Create Venom Testnet Wallet

Visit Venom and click “Chrome”;

Install the extension by clicking “Add to Chrome”;

Next, click “Create a new wallet”;

Accept the privacy policy and click “Submit”;

Copy and save the seed phrase and click “I wrote it down on paper”;

Come up with a password for the wallet. Done.

Claim Venom Testnet Tokens

Visit Venom and click “Connect Wallet”;

Click “Venom Chrome Extension”;

Then click “Connect”;

Follow the Venom Foundation on Twitter;

Next, click “Claim”;

Enter your password and click “Sign”;

Done.

Switch to the “Get testnet VENOM” tab and get additional $VENOM tokens for joining the project’s Discord.

Doing Tasks

Visit Venom to do testnet tasks and claim NFTs. You’ll need to collect them all. Right now there are 8 tasks.

Venom testnet task page

Go to the task page;

Follow Venom Network on Twitter by clicking “Follow”;

Click “Tweet” and make a tweet about the project;

Next, click “Mint”;

Enter your password and click “Confirm transaction”;

Done.

Venom Testnet Wallet

Go to the task page;

Copy the destination address for your Venom token;

Open your wallet and click “Send”;

Paste the address you copied, enter the amount of $Venom, enter your password and click “Confirm transaction”;

Then click “Check”;

Next, click “Mint” and confirm the transaction in your wallet;

Done.

Web3.World

Go to the task page;
Follow Web3.World on Twitter by clicking “Follow”;

Next, visit Web3.World and connect your wallet;

Doing a swap

Choose a token pair, enter the amount and click “Swap”;

Then click “Confirm”;

Confirm the transaction in your wallet;

Providing liquidity

Switch to “Liquidity Providing” and click “Add Liquidity”;

Then click “Connect Pool”;

Choose a token pair, enter the amount and click “Continue”;

Then click “Deposit WVENOM”/ “Deposit USDT” / “Supply Tokens”;

Done.

Farming

Switch to “Farming” and choose a pool;

Enter the amount of liquidity and click “Deposit to start farming”;

Confirm the transaction;

Next, click “Mint”;

Done.

Venom Testnet Pools

Go to the task page;

Next, visit VenomPools and connect your wallet;

Choose any pool and click “Manage”;

Enter the amount of tokens and click “Stake Venom”;

Done;

Next, click “Mint”;

Done.

VenomBridge on Venom Testnet

Go to the task page;

Follow Venom Bridge on Twitter by clicking “Follow”;

Visit VenomBridge and connect both wallets;

Transfer any amount of $VENOM from the Venom Testnet to the Binance Smart Chain Mainnet, then click “Continue”;

Next, click “Approve transfer”;

Done.

Next, transfer tokens back to the Venom Testnet (you’ll have to pay a fee to the BSC Mainnet);

Then click “Approve transfer” and confirm the transaction in your wallet;

Done;

Next, click “Mint”;

Done.

VenomStake

Go to the task page;

Then visit VenomStake and connect your wallet;

Enter the amount of tokens to stake and click “Stake”;

Done;

Next, click “Mint”;

Done.

Oasis.gallery In Venom Testnet

Go to the task page;

Follow Oasis.Gallery on Twitter by clicking “Follow”;

Visit Oasis.Gallery and connect your wallet;

Buying NFTs

Choose a collection;

Then click “Activity”, choose “Sale started” and click “Apply”;

Choose an NFT and click on it;

Then click “Buy Now”;

Next, click “Confirm”;

Done;

Putting NFTs on sale

Switch to “My NFTS”;

Click on your NFT;

Then click “Put On Sale”;

Set a price for the NFT and click “Put On Sale”;

Done;

Next, click “Mint”;

Done.

VenomPad

Go to the task page;
Follow VenomPad on Twitter by clicking “Follow”;

Click “Tweet” and tweet about VenomPad;

Next, click “Mint”;

Done.

FeedBack

Visit the project’s Discord, post your feedback and your wallet address.

Venom Testnet Airdrop Review

When reviewing an airdrop, there are several factors to consider. First, the likelihood the project will even do an airdrop in the first place. Then, to look at how many tokens the project intends to allocate towards airdrop campaigns, as well as the difficulty in participating in their airdrop. It is also important to look at the utility of the token so that there will be an actual use and purpose in participating in the airdrop in the first place. Finally, a factor to consider when reviewing an airdrop is whether the airdropped tokens are subject to any lockup period.

Likelihood of Airdrop: Venom Foundation has not officially confirmed an airdrop, but they revealed in their whitepaper that they will reward early users who contribute to the Venom network.

Airdropped Token Allocation: 22% of the initial token supply will be allocated to the community.

Airdrop Difficulty: The Venom Testnet page is very UI-friendly. It shows you the tasks you can complete for each DApp!

Token Utility: $VENOM will be used to pay for transaction fees to maintain the network by validators, secure the network through proof-of-stake mechanisms, and support validators by network participants through DePools staking.

Token Kilitleme: 7,2 milyar $’lık VENOM’luk ilk arzın %15,5’i kullanıma açık olacak, %84,5’i ise kilitli kalacak. Kilitli belirteçler, erken doğrulayıcıların hissesi olarak ilk arzın %10’unu içerir.

VENOM is do not delay to join its impressive and functional world