Venom Foundation Farming - MVHQ

Venom Foundation Farming

M3TAROVA
Dec 6, 2023
General Strategy
Venom Foundation Farming

Venom Foundation

 

Venom is a highly scalable Layer 0 multi-blockchain with the first license to operate from the ADGM (Abu Dhabi Global Markets). Their blockchain infrastructure consists of fast, low-fee transactions with infinity sharding that supports CBDCs and WEB3 applications.

 

They plan to bridge the gap between the traditional financial system and the decentralized world of cryptocurrency. Its target markets include CBDC, CBDC-backed stablecoin, Proof of Reserves mechanisms, finance for the unbanked and microtransactions. Some of Venom Blockchains unique features include dynamic sharding, a hybrid consensus protocol, and a distinctive asynchronous architecture.

 

 

It is further reported that Venom is working with authorities of a few countries for financial inclusion by leveraging its highly scalable technology to bring blockchain into many emerging markets. The idea behind it being that many of these emerging markets rely on micropayments whereby access to a traditional bank account is not possible. Given Venoms minimal transactional costs, it allows for cross border transactions.

 

Token

 

The native token of the Venom blockchain ecosystem is $VENOM. Currently an inflationary utility token, it is poised to switch to a deflationary model in the future. 

 

Airdrop

 

Venom has not formally announced an airdrop however their white paper does detail the following in regards to a token release:

 

"The Venom blockchain's initial supply of tokens for issue during the Mainnet launch is 7,200,000,000 VENOM. Of this initial supply, 25.5% is for unlock and immediately available, while 74.5% is under lock. Tokens allocated to validators will be used to form the initial validators pool and provide incentives for users participating in validator programs. Validator programs are designed to attract new participants to the network who are ready to support decentralization and network stability."

 

Venom further details that 22% allocation of the tokens will be reserved for the community with a 90 month linear vesting period.

 

Farming

 

Like most airdrops, you are required to engage with chain through various actions. Given that Venom is still in Testnet, all interactions are free and require little effort. Their website furthermore provides a simple to use interface for all tasks to be completed.

 

Where To Start

 

  1. Download and create a Venom wallet - https://venomwallet.com/
  2. Claim Venom Tokens - https://venom.network/faucet
  3. Complete Venom tasks - https://venom.network/tasks
  4. Share feedback in the feedback channel in the Discord (not mandatory) - https://discord.gg/venomfoundation
  5. Additional Zealy task (not mandatory) - https://zealy.io/c/venomid/invite/Zgav2f_atrWIc61LD7XV3

 

NOTE: As mentioned, this is on Testnet so it costs nothing to do. If you are worried about how it impacts your Twitter timeline, delete tweets, undo retweets and likes after accomplishing each task

 

Additional Links