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  • Active Crypto VCs To Watch: Secrets to Success?

    Active Crypto VCs To Watch: Secrets to Success?

    Crypto venture capitalists (VC) aim to invest in blockchain projects and companies with high potential. These firms usually provide early-stage startups with capital, guidance, and resources to help them expand. Venture capital firms are crucial to the blockchain ecosystem, as they offer valuable resources that enable projects to grow and scale rapidly. Here’s our picks for the top active crypto VCs you should follow and look out for.

    What is a crypto VC?

    A crypto VC, or crypto venture capitalist, is a type of venture capital firm that specializes in investing in early-stage startups that offer products or services related to cryptocurrency, blockchain technology, and digital assets. They typically fund projects through equity investments, token sales, or other financial instruments. In addition to providing capital, crypto VCs also offer guidance and advice to the startups in which they invest.

    What does a crypto VC do?

    Crypto VCs fund projects through equity investments, token sales or other financial instruments. In addition, they also provide guidance and advice to the startups in which they invest. Hence, they play a vital role in the blockchain ecosystem by providing valuable resources to support projects’ growth and scaling quickly.

    What makes a good crypto VC?

    There are several factors that contribute to a good crypto venture capital (VC) firm. These include:

    Total assets under management (TUM)

    This measures the total value of all the investments managed by a venture capital firm. It is used to measure the size and performance of a firm and can indicate its success in attracting investors and making successful investments.

    Number of successful investments (track record)

    This serves as an indicator of a firm’s ability to identify, invest in, and help grow promising businesses. It provides a measure of the firm’s performance over time and allows potential investors to gauge the quality and success of the investments made.

    Reputation in the industry

    A good reputation helps build trust, which is essential for successful fundraising and investment. Additionally, a solid reputation can help to create relationships with the most promising entrepreneurs and startups, leading to more successful investments and higher returns for the firm.

    Network and resources

    Having access to resources such as industry contacts, financial advisors, legal counsel, and other specialized professionals can help a venture capital firm make informed decisions, maximize investment returns and protect its interests. Additionally, having an extensive network of investors can provide a venture capital firm with additional funding sources for new investments and support existing portfolio companies.

    The team

    The quality of a venture capital firm’s team and staff plays a significant role in the decision-making process. They must be knowledgeable about the industry, have a good understanding of the market, and be able to identify and assess potential investments accurately.

    Portfolio projects/companies

    The quality of portfolio clients directly affects a crypto VC’s return on investment. Venture capital firms invest in companies expecting to generate a significant return. If the portfolio companies are unsuccessful, the venture capital firm won’t be able to generate a profit.

    As a cryptocurrency trader, it can be helpful to follow these good crypto VC firms. This is because a crypto VC firms offer capital and operational assistance to blockchain startups that are behind innovative, disruptive ideas. The firms spend countless hours of research into finding viable crypto projects with the most potential. Also, the portfolios of crypto VC firms is publicly available, which offer a great opportunity for retail investors to spot the best upcoming crypto projects in the market. Therefore, by following a good crypto VC firm, crypto traders can gain enhanced market insights and stay informed about new opportunities and trends.

    Active Crypto VCs to look out for

    Based on the factors mentioned above, here are some active crypto VC firms to look out for in 2023.

    Sequoia Capital

    Number of investments: 1,805

    Total assets under management: $85 billion

    Sequoia Capital is a highly regarded venture capital firm with a reputation for investing in some of the world’s most successful technology companies, such as OpenAI, Apple, Google, and LinkedIn. Its ability to identify and support early-stage startups has earned it widespread admiration from entrepreneurs, investors, and the broader tech community. Notably, Sequoia Capital recently invested US$120 million in LayerZero Labs, a company developing a trustless omnichain interoperability protocol to connect multiple chains.

    LayerZero may do an airdrop in the future! Learn more with our LayerZero ($ZRO) Token Airdrop Guide

    Coinbase Ventures

    Number of investments: 328

    Total assets under management: Over 30 billion

    Coinbase Ventures was founded in 2018 by the Coinbase cryptocurrency exchange. However, Coinbase Ventures is not directly backed by the exchange and is a separate entity. It specializes in early-stage VC deals and operates almost exclusively in the blockchain and cryptocurrency space. Some of the firm’s recent investments include Dolomite.io, Cloudburst Technologies, and zkLink, where it raised US$10 million.

    The firm mostly focuses on investing in Decentralized and Centralized finance (DeFi, CeFi), followed by crypto protocols and Web3 infrastructure.

    Pantera Capital

    Number of investments: 220

    Total assets under management: $4.1 billion in blockchain or blockchain-related assets

    Pantera Capital was founded on 12th February 2003 by Dan Morehead, a former CFO and head of Macro Trading at Tiger Management. Before 2014, Pantera’s focus was on global macro hedge fund investments. Since then, the firm has shifted its investment advisory services to concentrate solely on Bitcoin, other digital currencies, and related companies. Recent investments by Pantera Capital include OmniNetwork and Teahouse Finance. In particular, the recent investments into Prisim Labs and M’ZERO Labs were US$26 and US$22.5 million respectively.

    Binance Labs

    Number of investments: 90

    Total assets under management: $7.5 billion

    Binance Labs is a blockchain incubator and venture fund created by Binance, one of the world’s leading cryptocurrency exchanges. It has a major following in the industry for its commitment to helping startups succeed in the crypto and blockchain space. Binance Labs typically provides capital to blockchain startups in exchange for a stake in the new business. In addition to providing capital, Binance Labs offers support and guidance to these startups, assisting with developing their product/service, identifying potential customers and partners, and navigating the legal and regulatory environment. Binance Labs also provides access to their network of industry contacts and resources, which can help the startup succeed. Recent investments include Playbux, GOMBLE, Gameta and Polyhedra Network.

    Polychain Capital

    Number of investments: 198

    Total assets under management: $6 billion

    Polychain Capital was founded in 2016 by Olaf Carlson-Wee, who was previously an employee of Coinbase where he was Head of Risk. Investors of Polychain include Andreessen Horowitz, Sequoia Capital, Union Square Ventures and Founders Fund. Their latest crypto/blockchain investments include Webb Protocol, Thetanuts Finance, Polyhedra Network and Scroll.io.

    Scroll.io plans to release their token around the same time as their mainnet launch in Q2 2023. This could mean a Scroll token airdrop! Learn more with our Scroll token airdrop guide.

    Digital Currency Group

    Number of investments: 301

    Total assets under management: $3.5 billion

    Digital Currency Group (DCG) was founded in 2015 by Barry Silbert. DCG has made over 301 investments and has had 36 exits. Some of its most notable exits include Coinbase, Voyager, and Silvergate Bank. DCG has also made 26 diversity investments. The company has six main subsidiaries: Grayscale Investments, Genesis, Foundry US, CoinDesk, Luno and TradeBlock. Grayscale Investments operates a number of publicly-traded trusts that hold cryptocurrency assets like Bitcoin and Ethereum. Genesis is an over-the-counter cryptocurrency exchange that also offers lending services. DCG is a bit quiet on the investment side in 2023, but have made 2 investments into Axoni and Coinflow Labs.

    Paradigm

    Number of investments: 92

    Total assets under management:  $1.51 billion

    Paradigm was founded in June 2018 and has invested in some of the most successful projects in the space, including Ethereum, MakerDAO, Filecoin, 0x and DFINITY. Paradigm has made 92 investments and has had 5 exits. Some of its most notable exits include Coinbase, Compound, and Tagomi. The Company has only made 2 investments so far in 2023, namely Ulvetanna and Conduit.

    Andreesen Horowitz (a16z)

    Number of investments: 40

    Total assets under management: $4.5 billion

    a16z, also known as Andreessen Horowitz, was founded in 2009 by Marc Andreessen and Ben Horowitz. The Company, headquartered in Menlo Park, California, supports bold entrepreneurs who are building the future through technology. They are stage agnostic and invest in seed to late-stage technology companies across various sectors including bio and healthcare, consumer, crypto, enterprise, fintech, games, and companies building toward American dynamism. a16z are the most active VC firms in our list, having made 9 investments in 2023 alone. Their most recent being a US$120 million investment into LayerZero Labs.

    Ozaru Ventures

    Number of investments: 29

    Ozaru Ventures was founded in 2021 and is currently based in Hong Kong. What sets Ozaru Ventures apart from other traditional VC firms is that it has an in-house creative content and PR marketing firm. This gives the Company a leading advantage in boosting the success of its investments in preparation for and after its public launch. Ozaru Ventures boasts an influencer network of over 1000 members and over 100 million followers across various social media platforms. This has allowed the Company to 5x the engagement and 300x the token launch of its portfolio companies. Notable investments in 2023 include an exclusive partnership with Hacken to tap into and promote its presence across Asia, which accounts for over 43% of global cryptocurrency activity.

    FBG Capital

    Number of investments: 72

    Total assets under management: $312 million

    FBG Capital was founded in 2015 and currently based in Singapore. They are one of the largest and earliest blockchain investment firms and their portfolio companies include Ampleforth, Dapp.com, FTX Exchange, Neutral Dollar, ThunderCore, and Wintermute Trading. FBG Capital have also been quite conservative in 2023, they have only 1 invested project, namely a US$3m investment in FilSwan.

    Union Square Ventures

    Number of investments: 414

    Total assets under management: $1.5 billion

    Union Square Ventures (USV) entered the blockchain and cryptocurrency space in 2011. As of last year, companies in the blockchain/cryptocurrency space made up 15% of its portfolio, and the fund invested in blockchain-related companies for a quarter of its most recent investments. Some of their notable investments in the cryptocurrency space include Coinbase. In 2023, USV made 7 investments, a high number compared to a lot of funds on this list. Of these, notable investments include a $14m and $55m investment into m3ter and Zeitview respectively.

    Draper Associates

    Number of investments: 355

    Total assets under management: $5 billion

    Draper Associates is a seed-stage venture capital firm founded in 1985 by Tim Draper, who also founded the Silicon Valley venture capital firm known as Draper Fisher Jurvetson (DFJ). Draper Associates encourages entrepreneurs to drive their businesses to greatness and transform industries with new technologies. The firm has invested in many successful companies, including Tesla, Skype, Baidu, Twitch, and Robinhood. The Company has so far made 9 investments in 2023 in various industries, only 1 of which relates to cryptocurrency i.e. a $4m investment into Amboss.

    Conclusion

    Crypto venture capitalists are experts in investing in early-stage startups that focus on cryptocurrency, blockchain technology, and digital assets. They provide funding through various means such as equity investments and token sales and offer valuable guidance and advice to the startups they invest in.

    While the VC firms mentioned in this article have established themselves as leaders in their field, there are many others that are still emerging. The cryptocurrency and blockchain space is constantly evolving with new companies entering the market. However, receiving VC funding does not guarantee success for a startup. It is ultimately up to the startup to demonstrate that their product or service is a worthwhile investment for VC firms.

  • Ledger Nano X Guide: Complete Setup Tutorial

    Ledger Nano X Guide: Complete Setup Tutorial

    Ledger released a new hardware wallet – the Ledger Nano X. This new device protects your cryptocurrencies with military-grade protection and prevents digital theft and hackers. These are the key new features of the Ledger Nano X:

    • Large HD screen – Displays address of receiver in full without scrolling
    • Mobile support – (Android and iOS) support via Ledger Live Mobile
    • More storage space – Install up to 100 different apps for different coins.
    • Rechargable Battery – allows the device to be powered-on without a cable.
    • Ledger Recover – A new (albeit controversial) seed phrase recovery subscription service. Learn more here.

    Click below to buy!

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    This guide will help you setup your Ledger Nano X and teach you the important features. In addition, we the most important question: Is Bluetooth Safe?

    Ledger Nano X Review: Is it worth buying?

    Ledger Live Mobile

    Cryptocurrency can be spent on the go with Ledger Nano X

    One of the biggest features of the Ledger Nano X is the support for mobile phones (both Android and iPhone). The new Ledger Live app allows for both sending and receiving of all supported cryptocurrencies on the go.

    The app connects directly to the Nano X via Bluetooth, so no cable is required. The device has a battery that allows it to be actively powered on for more than 8 hours (depending on use), so the Nano X can be brought out to send cryptocurrency on the go.

    Portfolio mode allows Ledger Live to display all available balances that is stored on the Ledger Nano X. This is accessible even if the hardware wallet is not present, so you can conveniently browse the portfolio. To send cryptocurrencies, the device must be present to sign the transaction via Bluetooth. It is important to remember that the private key to sign transactions never leaves the device or is transmitted via Bluetooth – only the signed transaction which cannot be altered (secure).

    Ledger Mobile app showing the Ethereum address with verification from Ledger Nano X

    Ledger Live Mobile also supports the installation of various apps for different cryptocurrencies via Ledger Manager, just like the desktop version. The mobile app boasts the same functionality as the desktop version with the notable exception that it does not yet allow firmware updates.

    How to Add or Remove Apps on the Ledger Nano X

    To use different cryptocurrencies on the Ledger Nano X, the app for that coin needs to be installed on the Ledger first. This is done via the Ledger Live app on either Windows, MacOS, Linux, Android or iOS. First install Ledger Live, connect the Nano X and enter the “Manager” interface. The app will require you to unlock the Ledger by entering your pin and entering the home screen. You will need to authorize Ledger Live by confirming “Allow Ledger Manager”. Once you are connected, you will see a list of different apps that are ready to be installed (if your list is shorter than in the following image, update the firmware of the Ledger Nano X).

    Is Bluetooth Safe?

    The simple answer is: Yes. One of the initial concerns (reddit) about the Ledger Nano X is communication via Bluetooth, a form of radio communication. The previous model (Ledger Nano S) only had cable connectivity, which would not expose the device to nearby attackers. Bluetooth is safe to use in this case because the device is never controlled via Bluetooth – instead it is only used to send unsigned and signed transactions. This means the private key (the key to all the funds) is not exposed and does not leave the device.

    The Nano X operates with the assumption that the Bluetooth connection (which is a bearer, exactly like USB) is compromised. The addition of BLE doesn’t impact the security model. Transactions must always be physically verified on device by pressing both buttons. Moreover, on the Nano X screens and buttons are directly connected to the Secure Element (single chip architecture), which is also an enhancement of the general security design. (Valium)

    Nicolas Bacca, CTO at Ledger

    On top of this, the Ledger Nano X functions assuming the Bluetooth is in “compromised” mode. This means it will never give any control to other external devices and communication is limited to transaction signing only.

    Control Panel on Ledger Nano X allow Bluetooth to be turned On / Off

    Keep your Recovery Phrase Safe!

    There will be a sheet where you can write down your 24-word recovery phrase. This is the most important part because it acts as a backup to the device. You will need to keep it very safe because if someone gets access to that paper it is essentially the same as stealing your wallet.

    Do not take a photo or have a digital copy of that list!

    Ledger Nano X Setup

    1. Choose a 4 to 8-digit PIN code and confirm.
    2. Write down your 24-word recovery phrase. The order of the words is also important.
    3. After setting up the device, with it still plugged in, visit the Ledger Live website and download the app you want to use.
    4. Follow the instructions on the site and use.

    Note: after setting it up you will be navigating the device on your computer.

    You can receive cryptocurrency even when the device is offline. It’s only when you want to send that you need to connect the device and enter your PIN and login.

    After inputting all the transaction details on your computer, as an additional security measure, you can double check the details on the device. Make sure the address and amount are correct and confirm.

    Why use a Hardware Wallet?

    With traditional currencies, you, the user, are the most important person. If you have ever lost your bank card, you can always go to the bank with some sort of identification and request for access back to your account.

    Cryptocurrencies, however, don’t care about the physical person but rather the private key associated with the wallet. The private key is used to verify the account and transactions. Anyone who has access to this key can send funds and that is why you must keep it safe. Another thing is that cryptocurrency transactions cannot be reversed.

    Hardware wallets can protect you against these things. They add an extra layer of security by storing the private key on the device itself. The only way to hack it would be to have physical access to the hardware wallet or with the backup phrase.

    Paper wallets offer arguably even more security. However, the process for setting them up and using it is very complicated. Hardware wallets strike a nice balance between security and convenience.

    Is the Ledger Nano X Worth the Upgrade?

    At a higher price point, many users are asking the question “Is the Ledger Nano X worth the Upgrade“. For us, the answer is depends.

    If you use more than 3 apps, then consider upgrading. Coming with a much larger memory space, Nano X is able to store a lot more applications than the soon-to-be-retired Ledger Nano S. However, its updated model, the Nano S Plus, at a price of USD 79, is capable of storing up to 100 apps, making it much more competitive with the pricier Nano X. As of writing, the Ledger Nano S is only able to store 2-3 applications with Firmware 1.5.5 (such as Bitcoin and Ethereum app). Whilst you can get around this limitation by uninstalling unused apps, the constant switching often leads to confusion and time wasting.

    If you need to send large amounts of Cryptocurrencies on the go. With Bluetooth support, the new Ledger can be used with Android phones and iPhones.

    If more apps and mobility are not a big concern for you, stick with the Ledger Nano S or Nano S Plus.

    Click here to buy!

    Successfully set up your Ledger Nano X? Now it’s time to get started with trading Bitcoin and other cryptocurrencies! Check out my course created in collaboration with Jeff Kirdeikis of Uptrennd- Bitcademy: Learn, Invest & Trade Bitcoin – In Under an Hour

  • Ledger Nano X Review: Best Bitcoin Wallet?

    Ledger Nano X Review: Best Bitcoin Wallet?

    Ledger Nano X is the next generation of Hardware wallet with smartphone support, a larger screen and more storage space for Apps. Retailing for $119, the Ledger Nano X is great for newcomers or experienced traders trading more than 3 types of cryptocurrencies at at time or large volumes on the go. If more apps and mobility isn’t a big concern, stick with the Ledger Nano S.

    In this review, we’ll be looking at the security, hardware design and cryptocurrency support of the Ledger Nano X to tell you if this device is worth purchasing or not. For Set-up and installation guides, check out our full Ledger Nano X guide.

    CLICK BELOW TO BUY!

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    Key Features of the Ledger Nano X:

    Ledger Nano X Video Review
    • Larger screen – Displays full cryptocurrency addresses without scrolling
    • Mobile support – (Android and iOS) support via Ledger Live Mobile
    • More storage space – Install up to 100 different apps for different coins.
    • Rechargeable Battery – allows the device to be powered-on without a cable.
    • Ledger Recover – A new (albeit controversial) seed phrase recovery subscription service. Learn more here.

    Latest features: stake, swap, earn and lend cryptocurrencies

    Staking and earning

    Ledger Live allows for staking Tezos ($XTZ), Tron ($TRX), Cosmos ($ATOM) and Algorand ($ALGO). Users can lock up these cryptocurrencies to secure their respective networks and in return they will be paid interest for doing so. This feature expands Ledger into more than just a secure place to store your cryptocurrency, it can even help you grow your digital assets.

    Staking your digital assets can be done in 3 simple steps. First, freeze your assets by logging onto your Ledger Live, choosing the relevant account for the asset you wish to stake and click “earn rewards”. A popup window will then appear. There you will be allowed to select the amount in your wallet you wish to freeze. Secondly, vote for your validator(s) who will be making the blocks on your network and the cryptocurrency earned by making these blocks will be redistributed to voters. Lastly, claim your rewards by clicking “Claim” in your relevant account. Rewards are claimable every 24 hours.

    Swapping

    Ledger has released a Ledger Swap feature which allows users to exchange their cryptocurrencies through their partner Changelly. How this works is you send your cryptocurrency from your device to Changelly, and Changelly sends you back the swapped cryptocurrencies.

    To use this feature you will need: Ledger device, Ledger Live, the app for the crypto you want to swap and receive, and finally the exchange app.

    Lending

    Ledger is working with Compound ($COMP) to allow users to lend DAI, USDT and USDC through Compound’s decentralised finance (DeFi) protocol. The purpose of doing is is that the lender could earn an Annual Percentage Rate.

    Further, there are numerous benefits when using Ledger to lend:

    Control: You have control and proof that the crypto you lend and generated interest belong to you. This is because lending on Ledger is done through Compound, and when you lend on the platform you get “cTokens” in return. These cTokens represent proof of your ownership of the cryptocurrencies lent and the interest generated. These cTokens are stored by you until you want your lent assets and interest back, and in which case all you need to do is to send the cTokens back to the smart contract.

    Security: cTokens are stored on your ledger hardware wallets.

    Convenience: Compound’s lending features are available directly through Ledger Live.

    Lending crypto using Compound and Ledger Live is done in 3 simple steps. Firstly, on Ledger Live’s Manager, install the application for the cryptocurrency you want to lend and create an account. Secondly, enable your account to authorise Compound’s smart contract to interact with your account. Finally, select the amount of cryptocurrencies you want to lend and issue a transaction to Compound, verify and approve the transaction on your device.

    Security features

    One of the key reasons to buy Ledger hardware wallets is the firm’s reputation for security. The Nano X contains a two processor chips:

    • Secure Element: ST33J2M0 (secure) is independently certified and stores the private key and signs transactions
    • Operating system: STM32WB55 chip is responsible for Ledger’s BOLOS proprietary Operating System.

    Secure elements are separate pieces of hardware (second layer of security) with their own storage and limited functionality that cannot be breached by hackers. This means that even if the Ledger Nano X is connected to a compromise device – like a hacked laptop or phone, the private keys (=access to crypto funds) is never compromised. Devices like the Trezor One and Model T do not have secure elements and only have a single layer of security.

    Ledger Nano X Teardown
    Ledger Nano X Teardown showing CC EAL 5+ Secure Element Chip

    The Ledger Nano X also has the same BOLOS operating system that is found on the Nano S. BOLOS ensures that addresses are displayed properly on the device and handles connections to external devices.

    Similar to the Nano S, users can set up wallets protected by a passphrase in addition to your primary PIN code. So say a thief demands you to unlock your device, you can give them the PIN code to access wallets with fewer funds. Whilst hiding the bulk of your crypto assets behind passphrase protected wallets.

    The Nano X has the addition of Bluetooth support. Unfortunately Bluetooth’s security record is not spotless, and presents a new vector of attack for the device. Ledger CTO Nicolas Bacca has stated during an interview that Bluetooth on Ledger functions assuming the connection has been compromised – at no point will it be able to take over the device.

    Ledger Nano X Bluetooth Control Panel
    Bluetooth can be turned off on the Ledger Nano X

    In October 2019, the Nano X received CSPN (First Level Security Certificate) certification issued by the ANSSI (National Agency for Information Systems Security). Currently, of all the cryptocurrency hardware wallets on the market, only Ledger’s Nano S and Nano X have this certification. The certification scheme evaluates multiple aspects of a device’s security including firewall, identification, authentication and embedded software by putting it through multiple attack scenarios.

    Ledger hack

    In July 2020, Ledger confirmed they suffered a data breach whereby an unauthorised third party accessed Ledger’s e-commerce and marketing database. As a result, around 1mil email addresses were exposed, and of those, 9,500 customers’ had further information exposed such as their first and last names, postal address, phone number and ordered products.

    Ledger had reported the matter to authorities and are working with Orange Cyberdefense to investigate the matter. The team are also constantly monitoring for evidence of the data being sold on the internet.

    Subsequent to the data breach, users have been reporting receiving phishing emails and texts by asking them to download a new version of the Ledger software. If users click on the link in the email, they will be redirected to a fake cloned version of the Ledger site. Afterwards, if users download the “update”, which is in fact a malware, it would ask users for their Ledger’s recovery phrase. The entered recovery phrase is then used by the attacker to recover the user’s wallet and send the user’s cryptocurrencies to the attacker’s wallet. For a full explainer on how the phishing attack works see the report from Kraken.

    Phishing email
    Phishing email sent from info@ledgersupport.io address

    We do note that this can be more accurately characterised as a “data breach” rather than a hack. More importantly, this breach had no link or impact on the Ledger hardware wallets or the Ledger Live app. Cryptocurrencies stored on the Ledger devices have never been at risk.

    5/5 Security Rating

    Multi Currency Support

    Coins Supported By Ledger Nano X
    Full list of supported coins on Ledger can be found here

    Ledger has one of the most diverse support for different cryptocurrencies such as NEO, Vechain and Monero. With their open policy to development from project teams, the Ledger nano X supports 1100+ different assets. Many of these assets like Vechain or NEO are not found on competitors like the Trezor Model T or KeepKey, making Ledger the only hardware wallet available for many coins. The rule of thumb here is that the Nano X will support the same assets as the Ledger Nano S.

    Installing Ledger Live

    Ledger has a native application called Ledger Live to allow you to access cryptocurrency accounts (including Bitcoin, Litecoin Ethereum and other cryptocurrencies). Ledger Live is available on multiple platforms including Windows, MacOS, Linux, Android and iOS. We found the Ledger Live app easy to use as it clearly displays cryptocurrency assets with historical charts. Sending cryptocurrencies is extremely easy with step-by-step operation which clearly displays the sender and receiver addresses. There are also advanced features to manually customise the transaction fee in sat/byte.

    How many coins can Ledger Nano X Hold?

    One of the weakness of the Nano S is the lack of space for installed applications. The Ledger Nano X fixes this problem by increasing the internal memory to 2 MB. In our tests we were able to install all 73 available apps on the device (Ledger claims up to 100+). It should be noted that app storage is a convenience feature – apps will still retain their accounts / cryptocurrency balances even if uninstalled.

    Does Ledger Nano X support Ethereum and ERC-20?

    In September 2019 Ledger added a native Ethereum Wallet to its latest Ledger Live v.1.14.0 which adds support for 22 coins and over 1,250 ERC-20 tokens. This allows for direct access to tokens and ethereum whilst on the go without the need for a 3rd-party interface like MyEtherWallet. This is a welcomed upgrade to Nano X users who previously had to use different interfaces depending on the cryptocurrency you wanted to interact with. It will also certainly be welcome to newcomers to cryptocurrency, who may be confused by the different interfaces.

    One of our complaints is that Ledger Nano X has to enter each app separately account – something that is not necessary on the Trezor Model T.

    Is Ledger ready for Ethereum 2.0?

    Ethereum 2.0 is coming soon with the first Phase 0 Beacon Chain to be launched in December 2020. Leading up to this, Ethereum stakers need to deposit at least 32 Ether onto the Beacon Chain using a deposit contract. Therefore Ledger has updated the Nano X’s new firmware version 1.2.4-5, in which the Ethereum application update to version 1.6.0 allows users to sign a deposit contract transaction directly on the Ledger Nano X. This feature is EXCLUSIVE to the Ledger Nano X.

    In the future, users would be able to use their Ledger Nano X to derive an Ethereum 2.0 public key and validate that the withdrawal public key used in the deposit contract does actually belong to the Ledger device. The Ledger team are also working on a second Ethereum application which would allow stakers to securely sign blocks on the Beacon Chain.

    5/5 Multi Currency Support

    Hardware Design

    Ledger nano X PIN entry interface
    Input is made with the two circular buttons

    The new Ledger Nano X has two hardware buttons – hidden in the circular design of the cover pivot. These two buttons allows us to access menus (hold both buttons), make selections (press both buttons), and even input recovery phrases (use buttons to scroll). We found that entering PINs and recovery phrases to be tedious with only 2 buttons – perhaps a touchscreen or additional buttons could of helped.

    Nano X has a larger screen with higher resolution. This means that full cryptocurrency addresses could be displaced without scrolling – something that was sorely lacking in the Nano S.

    The Nano X uses a modern USB-C interface for charging and connecting to the PC. This is a welcomed upgrade as the computing world migrates to USB-C.

    The Nano X also now comes in 3 colours: Onyx Black, Blazing Orange and Cosmic Purple.

    Ledger Nano S and X colours
    Ledger Nano S and X colours (Source: Ledger)

    4/5 for Hardware Design
    3.5/5 of Ease of Use

    Mobility

    Ledger nano X

    Ledger Nano X can be used with mobile devices, and transactions can be sent on the go using the Ledger Live app on mobile. We found this feature to be very situational. Whilst it is helpful to be sending crypto on the go with the security the Nano X provides, the convenience is lacking when compared to mobile wallets like the Enjin Wallet. A separation confirmation set is needed: unlock device via PIN, enter the cryptocurrency app, check and confirm the transaction. This feels tedious and not suitable for simple coffee purchases or small transactions. What does make sense is perhaps large purchases (a car or house?) or token sale investments. However, the question remains, how frequently do we need to send large amounts of crypto on the go?

    How do you Update the Ledger Nano X

    Ledger periodically releases updates for the Ledger Nano X to improve security, functionality and coin support. In fact, firmware updates are required in order to get support for the latest cryptocurrencies. In order to update the firmware, plug the Nano X into your computer and run the Ledger Live app. The app will automatically display your version number and show any available firmware updates. To initiate the update, click the update button and confirm the installation in the Nano X by pressing down both buttons when prompted to “allow ledger manager” to access the device.

    Ledger Nano X worth the upgrade?

    At $119, the Ledger Nano X is not a budget device – it commands a certain price premium making the upgrade decision harder for many users. For many, the deal breaker convenience features – the large screen that displays full cryptocurrency addresses and larger storage for more apps. If these features are important for you, then the Nano X is worth the upgrade. However, if you only need a few apps, the budget friendly Ledger Nano S is a better option at $59.

    Ledger Nano X compared with Trezor Model T

    The biggest difference between the Ledger Nano X and the Trezor Model T is the screen and supported coins. The Trezor Model T has nice touch screen which helps with entering PIN and the security phrases. However, the Trezor has fewer supported coins and usually projects tend to release Ledger support first. The following table is a comparison between various hardware wallets, including the release date, external security certification (if any), release date and our review rating.

    At the end of the day, choosing between the Ledger Nano X and other hardware wallets is mostly based on 1 question – are the cryptocurrencies you want supported on the device. Support for a large number of coins has always been Ledger’s strong suit, along for browser support in Decentralized exchanges (Binance DEX, IDEX and Switcheo)

    [wp-compear id=”5154″]

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    Product Specifications (Technical Specifications)

    Ledger Nano X Product Specifications:

    Processors ST33J2M0 (secure) + STM32WB55
    Compatibility 64-bits desktop computer (Windows 8+, macOS 10.8+, Linux) excluding ARM Processors. Also compatible with smartphones (iOS 9+ or Android 7+).
    Connector USB Type-C , Bluetooth 5.0
    Battery 100mAh battery
    Size 72mm x 18.6mm x 11.75mm
    Supported Assets 1100+ Supported assets

    Frequently Asked Questions (FAQ)

    Can you keep your coins when upgrading from the Ledger Nano S to Ledger Nano X?
    Yes. When doing the upgrade, choose to “restore” option during setup and enter the 24 word recovery phrase from the Ledger Nano S backup

    Can the Bluetooth Feature be turned Off in Ledger Nano X?
    Yes, Bluetooth can be disabled in the Control panel. This will disable Bluetooth communications and only allow the Ledger the communicate via the USB cable. You can access the panel by holding down both buttons for 3 seconds.

    Can many apps can you install on the Ledger Nano X?
    We found that the Ledger Nano X can hold all 73 Apps currently available on the Ledger Manager. There is even more storage available for future applications.

    Why does the Ledger Nano X Bitcoin Address change?
    Ledger includes a feature to automatically generate a new Bitcoin address each time an old one is used. This increases the privacy of transactions, as different addresses are used for new transactions. Old addresses can still be used as the Ledger contains full access (include future access) to these funds.

    How do you generate a new public address for receiving funds
    New Public addresses are automatically generated when old ones are used (the address receives or sends a transaction).

    What is the latest Ledger Firmware
    Currently the latest firmware is 1.6.0

    Will the Coronavirus (COVID-19) pandemic affect Ledger?
    Ledger has issued a statement saying they have in place business continuity measures to ensure they continue to have inventory and products to ship to its customers. They are however experiencing some backlog in their customer service side but are working to ensure that customer’s concerns are answered. You can check the operational status of their systems here. Inevitably there may be issues with shipping products to customers, they are still able to ship to most countries though some customers may experience limited shipping options. Check here to see if shipping to your country may be affected.

    Further reading

    Ledger also posts up reviews from other YouTubers, which you can check out here.

    Just got a new Ledger Nano X? or always been curious about getting started with Bitcoin and other cryptocurrencies? Check out my course created in collaboration with Jeff Kirdeikis of Uptrennd- Bitcademy: Learn, Invest & Trade Bitcoin – In Under an Hour

  • Ledger Nano S Plus Hardware Wallet Review

    Ledger Nano S Plus Hardware Wallet Review

    The increasing popularity and adoption of cryptocurrency has expanded the wallet market. Now that many well-known traditional and crypto brands accept crypto as a payment option, enthusiasts are constantly on the lookout for safer ways to store their digital assets.

    Ledger is one of the most popular hardware crypto wallets in the sector. Since releasing the Nano S in 2016, Ledger has become a household name in the cryptocurrency space. To date, Ledger has launched three models of hardware crypto wallets, the Nano S, Nano X, and most recently, the Nano S Plus. The Ledger Nano S Plus retails for USD$79.

    CLICK BELOW TO BUY!

    Check out our previous Ledger reviews here:
    Ledger Nano X review
    Ledger Nano S review

    What is the Ledger Nano S Plus?

    The Nano S Plus is Ledger’s third release from its Nano series, a line of pocket-sized hardware crypto wallets. Ledger’s Nano S Plus has all of the features of the original Nano S but with a few upgrades, including support for NFT storage and management. Additionally, the Nano S Plus has built-in support for interacting with various DeFi (decentralized finance) apps and services. (thetelegramnews.com) The wallet is an effective option for people looking to manage crypto, NFTs, and other decentralized services in one place.

    New features of the Ledger Nano S Plus

    Ledger introduced the Nano S Plus with an exciting list of features and improvements over the two previous releases. Some of the major new features on the Nano S Plus include:

    • Bigger display. Same display size of the Nano X but on a smaller device!
    • Expanded cryptoasset support. The Nano S Plus doesn’t just hold cryptocurrencies, but also NFTs and is the first Ledger device to have DeFi app integration.
    • Industry-leading security. The Nano S Plus uses the same industry-leading security with CC EAL5+ certification.
    • Easy setup. USB plug-and-play feature means owners can begin using the device in minutes.
    • Low cost. The Nano S Plus comes at an affordable price of US$79, making it an attractive option for all levels of crypto traders.

    Security features: is the Nano S Plus safe?

    The Nano S Plus uses the same certified secure chip (CC EAL5+ chips) as the Nano X to protect users’ assets. This chip employs state-of-the-art technology that guarantees high-level security and asset protection against phishing and other asset extraction schemes. Additionally, the wallet has industry-standard security features, including a security phrase, PIN code locks, transaction confirmations, password encryption, and more.

    To learn more about the security features of the Nano S Plus and Nano X, click here.

    5/5 Security Rating

    Cryptoasset support

    A major Nano S Plus feature is the huge roster of supported crypto assets and apps. The Nano S Plus supports over 5,500 assets and can accommodate up to 100 different apps. Some supported assets include:

    • Bitcoin (BTC)
    • Ethereum (ETH)
    • ERC-20 tokens
    • Dogecoin (DOGE)
    • XRP
    • BNB
    • Cardano (ADA)
    • Polygon (MATIC)
    • Litecoin (LTC)
    • Tron (TRX)

    The Nano S Plus has 1.5MB of storage and with that can run over 100 apps simultaneously. On Ledger devices, an “app” refers to the app required to be installed to access a cryptocurrency on the device e.g. in order to access your BTC on the device you need to install the app on the Ledger first. Meaning that, unlike the Nano S which can only run 3 apps simultaneously, users are not required to delete apps in order to access other cryptocurrencies which do not have the apps already installed.

    But what is truly unique about the Nano S Plus is that it is the first Ledger device to offer NFT support. Users of the Nano S Plus can securely hold, send, and receive NFTs via the Ledger Live app. Ledger has made this process user-friendly, as owners can authenticate transactions right from the wallet’s interface.

    Users of the Nano S Plus can also access several DeFi applications through the Ledger Live user interface. Anyone can securely buy, exchange, lend or stake crypto assets.

    The NFT support and DeFi app access give the Nano S Plus an even bigger boost in features compared to the Nano S and for that reason, we rank this category even higher than the Nano X.

    4.8/5 cryptoasset support

    Hardware design

    Similar to the Nano S, the Nano S Plus also has two hardware buttons located on the top of the device.

    The Nano S Plus has a much larger screen than its predecessor, which makes usage very easy. Same as the Nano X, the 128 x 64-pixel screen makes operating the device simple and helps users navigate the product’s features. The main benefit of the larger screen is that users can see the entire wallet address clearly displayed as one line on the screen. The screen also blends well into the rest of the device, adding to the Nano S Plus’ aesthetic appeal. And whilst the screen size on the Nano S Plus is the same as the Nano X, the Nano S Plus is a much smaller device overall.

    The Ledger Nano S Plus’ measurements are smaller than the Nano X at 62.39 x 17.40 x 8.24 mm, and weighs in at only 21g. The wallet is about the size and weight of an average USB flash drive and is easy to carry around.

    4.5/5 for hardware design

    4.5/5 for ease of use

    What’s in the Ledger Nano S Plus Box?

    The Nano S Plus wallet comes with the following inside the box:

    • The Ledger Nano S Plus hardware
    • A Type-C USB cable to connect the Ledger to a computer
    • An orange box with three notepads for the Secret Recovery Phrase
    • A purple box with the manual instructions
    • A key-holder chain with a Ledger logo

    Final Verdict

    The Ledger Nano S Plus is a great option for enthusiasts looking for a secure, reliable, and easy-to-use hardware wallet. It offers the same features as the original Ledger Nano S and adds a lot more. Furthermore, users looking to upgrade from the older Ledger Nano S can quickly move their assets to the newer S Plus.

    The Ledger Nano S Plus is one of the best hardware wallet options on the market for crypto and NFT enthusiasts who currently own or plan to purchase NFTs or get involved with any DeFi project.

    The Ledger Nano S Plus retails for US$79.

    CLICK HERE TO BUY!

    Ledger Nano S Plus worth it?

    [wp-compear id=”5154″]

    Product Specifications (Technical Specifications)

    Ledger Nano S Plus Product Specifications:

    Processors
    Compatibility 64-bits desktop computer (Windows 8+, macOS 10.8+, Linux) excluding ARM Processors.Also compatible with smartphones Android 7+.
    Connector USB-C
    Security Certification CC EAL5+
    Size Size: 62.39mm x 17.40mm x 8.24 mm
    Weight: 21g
    Supported assets 5,550+ digital assets plus NFTs and DeFi app access
  • Shell Protocol ($SHELL) Token Airdrop Guide: LIVE NOW!

    Shell Protocol ($SHELL) Token Airdrop Guide: LIVE NOW!

    If you missed the Arbitrum ($ARB) airdrop, there are plenty of protocols building on Arbitrum that will conduct their own token airdrop. Shell Protocol is one of them, and they have confirmed an airdrop which will happen in Q3 2023. In this article, we will explain what Shell Protocol is and what you can do to position yourself for the airdrop.

    Shell Protocol ($SHELL) Airdrop Step-by-step Guide

    Here’s how to receive a potential Shell Protocol ($SHELL) airdrop:

    1. Connect Your Arbitrum Wallet to Shell Protocol
    2. Bridge ETH to Arbitrum One
    3. Purchase Expander NFTs
    4. Farm Shell Points
    5. Hold Toucan NFTs (Optional)

    See below for more details!

    What is Shell Protocol?

    Shell Protocol is a decentralized exchange (DEX) on Arbitrum that has two key features: Proteus and the Ocean. Proteus is an automated market maker (AMM) engine that allows builders to create custom AMMs without the need for Solidity coding. On the other hand, the Ocean is a shared multi-token ledger for composing DeFi building blocks. Through this model, users and developers can facilitate low slippage stablecoin swaps.

    Shell Protocol aims to establish an online monetary system using stablecoins as its building blocks. The term “shells” refers to liquidity provider shares, symbolizing containers for the pool’s value, akin to living shells housing organisms. As of now, Shell Protocol has over $10 million in total value locked (TVL).

    Does Shell Protocol have a Token?

    Yes, Shell Protocol will launch its $SHELL governance token in the future. Currently, the Shell team is tracking user contributions to the protocol via “Shell Points.” Any Shell Points earned in the previous season will be converted into “Crabs”, which is a fungible, on-chain, non-transferable placeholder for the future $SHELL token allocation at a 1:1 ratio.

    Shell Protocol has announced it will do an airdrop and the $SHELL tokenomics. At the Token Generation Event (TGE), 200 million $SHELL tokens will be created. 80m will go to investors, the core team, and the development company; 40m will be allocated for an initial airdrop; 50m for post-TGE incentives; and 30m for their DAO treasury. The TGE is expected to be in Q3 2023.

    How to Receive $SHELL Airdrops?

    To qualify for the $SHELL airdrop, you will need to earn Shell Points by interacting with the protocol. These points also compound over time, so the earlier you get in, the more points you earn. Here’s a step-by-step guide:

    1. Connect Your Arbitrum Wallet to Shell Protocol

      Go to app.shellprotocol.io and connect your MetaMask wallet. Switch the network to Arbitrum One.

    2. Bridge ETH to Arbitrum One

      If you don’t have funds in your Arbitrum One, you can bridge them over from the Ethereum Mainnet at bridge.arbitrum.io or Orbiter Finance.

    3. Purchase Expander NFTs

      In order to earn Shell Points, you will need to unlock quotas. You can unlock quotas by activating Expander NFTs in the Booty page. You can purchase them (aka Expanders) on OpenSea. The cheapest ones are around $10. The more expensive ones have higher quota limits.

      There are also other types of NFTs that can boost your points for several days.

      WARNING: Do not buy the NFTs that have no quota ratios on them!

    4. Farm Shell Points

      Once you’re in, go to app.shellprotocol.io/points. Scroll down and you can see all available liquidity pools on the protocol. You can earn points by providing liquidity or wrapping tokens at app.shellprotocol.io/trade. The quota is a cap on how many points you can earn.

    5. Hold Toucan NFTs (Optional)

      Government Toucans are a collection of Arbitrum NFTs launched by Shell Protocol. Holding one can give you additional quota to earn Shell Points. If you don’t have one, you can buy one at opensea.io/collection/government-toucans.

      Toucan holders can also vote on Shell Protocol’s proposals at snapshot.org/#/shellprotocol.eth.

    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: Shell Protocol has confirmed airdropping $SHELL tokens to protocol users in Q3 2023.

    Airdropped Token Allocation: 40m $SHELL (out of 200m) will be allocated toward an initial airdrop. So expect even more airdrops to come!

    Airdrop Difficulty: The tasks are fairly easy to complete, but you will need some real ETH or stablecoins to interact with the protocol.

    Token Utility: $SHELL is a governance DAO token.

    Token Lockup: TBD

  • Sui ($SUI) token airdrop guide: How to join the Community Access Program

    Sui ($SUI) token airdrop guide: How to join the Community Access Program

    Sui is the world’s first permissionless Layer 1 blockchain completely designed from the ground up. In this guide will we provide the best strategy to earn the most from any potential SUI airdrop.

    Sui is a decentralized, proof-of-stake blockchain with horizontally scalable throughput and storage. Sui aims to be a step-function advancement in blockchain technology that will allow creators and developers to build experiences for Web3 users. The project is created by former senior leaders of Facebook’s (Meta) advanced blockchain research and development organization. The team first came together to form Mysten Labs– the company behind Sui. The team is also building Move – an open-source smart contract programming language.

    Currently, Sui has deployed their “Permanent Testnet” – which means it’s the best time to generate blockchain evidence to get the airdrops. What we have learned from similar projects is that the more interactions that you do with the blockchain, the more airdrops you earn. We expect that $SUI will give “tiered” airdrops, giving out more free tokens to those who interact more with the blockchain.

    Key Summary

    • Sui is a scalable and permissionless Layer 1 blockchain created by former Meta developers.
    • SUI is the native token of Sui with four main purposes: gas fees, staking, governance, and economy.
    • There is no official SUI token airdrop yet, but the team hinted that they will reward early community members and supporters.
    • To potentially qualify for a future SUI token airdrop, users can install and use the Sui wallet, stake and earn SUI tokens, register names on SuiNS, mint and breed Capys on Capy.art, play games and mint NFTs on Clutchy.io, and explore other projects built on Sui.

    Learn more about Sui with our Sui blockchain guide: Revolutionary Scalability Solution?

    Sui ($SUI) airdrop step-by-step guide

    Here are some ways to get a potential $SUI token airdrop:

    1. Install and use the Sui Wallet
    2. Request SUI devnet tokens
    3. Stake and earn Sui
    4. Mint Sui Capys NFT
    5. Register your domain on Sui Name Service (SuiNS)
    6. Participate in Sui testnet waves
    7. Play games and get NFT test mint on Clutchy
    8. Interact with protocols in the Sui ecosystem
    9. Join the Sui Discord community
    10. Mint your SuiFrens Bullshark Generation 0 Limited Edition NFT

    See below for more details.

    The SUI Token Community Access Program eligibility criteria has been announced! Here is how to check your eligibility to participate in the Sui Recognition Sale:

    1. Verify your Discord here before 17th April 2023 at 9:30pm PDT.
    2. If you are eligible, you will be required to fill in a form on their page.
    3. Register for the token sale on Bybit, Kucoin or OKX. Sign up for an account here: ByBit, KuCoin.

    See below for more details.

    UPDATE: Mysten Labs (the company behind Sui) will be doing an NFT airdrop! Those who are Sui Discord members before 3rd May 2023 can register here for a free SuiFrens Bullshark Generation 0 Limited Edition NFT before 17th May 2023 at 11am PDT.

    What is the Sui $SUI token?

    The SUI token is the native token of the Sui platform. SUI has a max supply of 10 billion tokens.

    SUI token will have 4 main purposes: Gas fees, staking, governance, and as an underlying asset of the Sui economy.

    The team has confirmed that Sui community members can purchase the SUI token during the early Sui Mainnet stage. Sui will also have a Community Access Program. This program will reward Sui supporters who have helped test Sui Apps. Rewards will also be distributed to those who help promote Sui.

    Check out our Sui blockchain guide: Revolutionary Scalability Solution?

    Will there be a Sui $SUI token airdrop?

    There is currently no $SUI token airdrop. However, the Sui team have emphasized in its blog post that they will prioritize the distribution of SUI tokens to early community members. The team also said that those who are already spreading knowledge about Sui, onboarding developers, and testing and refining its’ applications will be part of Sui’s token allocation.

    In August 2022, Sui had a $SUI token airdrop for its Testnet Wave 1 and 2 validators. 2,000 SUI (subject to 1-year vesting) was distributed for participating in every testnet “wave”.

    In the latest blog post, Sui announced its SUI Token Community Access Program. Under the Community Access Program, only limited categories of early supporters will be able to obtain SUI tokens either via retrospective rewards or a recognition sale. However, there are geographical restrictions, for example US residents are not eligible to receive SUI even if they qualify under the Community Access Program.

    The blog post, however, has stated clearly that they will not be any Sui airdrops, leading to the tag #suiScam trending on Twitter. This is because many people believed that Sui would do an airdrop and have spent months interacting with the testnet.

    How can I participate in a potential $SUI token airdrop?

    The Sui team has not officially announced how and when they will do a $SUI token airdrop. However, they had already strongly hinted that they will prioritize rewarding early community members and supporters. Here’s some ways to get a potential $SUI token airdrop:

    1. Install and use the Sui Wallet
    2. Request SUI devnet tokens
    3. Stake and earn Sui
    4. Mint Sui Capys NFT
    5. Register your domain on Sui Name Service (SuiNS)
    6. Participate in Sui testnet waves
    7. Play games and get NFT test mint on Clutchy
    8. Interact with protocols in the Sui ecosystem
    9. Join the Sui Discord community
    10. Mint your SuiFrens Bullshark Generation 0 Limited Edition NFT

    Install and use the Sui Wallet

    Install and use the Sui Wallet browser extension. On their documentation page here, click “Sui Wallet browser extension”. A new chrome web store window will appear, then click “Add to Chrome”. Afterward, click “Create a New Wallet”. You will be asked to create a password and be asked to save your recovery phrase. Once you have saved your recovery phrase, tick “I saved my recovery phrase” and click “Open Sui Wallet”.

    Sui wallet
    Sui wallet

    Request Sui devnet tokens

    On your Sui wallet (see above on how to install a Sui wallet), click “Request Devnet Sui Tokens”. You will then receive 0.05 $SUI. To get more $SUI devnet tokens, click on the 3 lines on the top right hand corner of the wallet, then click “Request Devnet SUI Tokens”.

    You can also request devnet tokens via their devnet-faucet channel in Discord. Check here for full instructions.

    Stake and Earn Sui

    On your Sui wallet (see above on how to install a Sui wallet), click “Stake & Earn SUI”. Then select the validator you want to stake your Sui and the amount to be staked and click “Stake Now”. You can unstake and withdraw your SUI on the same page. You can also track how much $SUI you have staked and the APY on the “Coins” tab.

    Mint Sui Capys NFT

    Go to https://capy.art/ and connect your Sui wallet. Then, go to “My Collection” and “Capys”. Select “Get a free Capy” and on the Sui Wallet, click “Approve”. You can mint a maximum of 2 Capys.

    Afterward, you can breed or sell your Capys.

    Register your domain on Sui Name Service (SuiNS)

    On your Sui wallet, go to the “Apps” tab, then click “Sui Name Service (SuiNS). You will then be taken to https://suins.io/ where you can search for names. Choose your desired name (ending in .sui or .move) and click “Register Name”. Registering a name costs 0.001 SUI.

    You will then be asked to connect your Sui wallet, and afterward, click “Approve” (2 approvals are required) to approve the transaction.

    Participate in Sui testnet waves

    Sui has recently finished their Sui Testnet Wave 2. However, you can follow them on Twitter to see if and when they will do another testnet wave.

    Play games and get test mints on Clutchy

    Clutchy is a Gaming and NFT marketplace built on Sui, so using their platform may give you a better chance of getting a potential SUI airdrop. To do this, go to Clutchy.io. To play games on Clutchy, go to the “Games” tab, where you will find many games to choose from including board games, shooters, and puzzles. Meanwhile, their Launchpad will have launch test mint NFTs this week. All you need to do is to mint them using SUI tokens.

    https://twitter.com/Clutchy_io/status/1630329210869874690?s=20
    Upcoming Clutchy NFT test mints

    Interact with protocols in the Sui ecosystem

    There are numerous projects built on Sui, many of which have not released their token yet and might also do a potential airdrop! Similar to zkSync, the network itself and its ecosystem projects are all doing airdrops. Learn more with our zkSync ($ZKS) Token Airdrop Guide!

    So, there could be a chance to earn DOUBLE AIRDROP REWARDS!

    One such project being built on the Sui ecosystem is Synthr. Synthr is a synthetic asset protocol built on Sui, and they have confirmed they will do a $SYNTH token airdrop! For more details check out our Synthr ($SYNTH) token airdrop guide.

    Mint your SuiFrens Bullshark Generation 0 Limited Edition NFT

    Mysten Labs, the company behind Sui, have announced its ACES (Active Contributors & Early Supporters) Program. Those who joined the Sui Discord before 3rd May 2023 can register with their Discord account and Sui wallet before 17th May 2023 at 11am PDT: https://aces.mystenlabs.com.

    Those who are eligible will be airdropped a SuiFrens Bullshark Generation 0 Limited Edition NFT at a later date. It is unknown what the utility of the NFT will be.

    Am I eligible to receive SUI tokens in the Community Access Program?

    Sui has stated there will be no SUI airdrops. Instead, there will be a SUI Token Community Access Program which will offer retrospective rewards and a recognition sale for the following categories of Sui supporters:

    1. Capy Holidays competition winners: They will receive tokens directly based on the competition terms.
    2. Champions: Testers and moderators who attended, organized and ran events. They will get SUI tokens after the mainnet launch.
    3. Supporters: These are Sui Discord community members that joined before 1st February 2023 and offered suggestions, joined discussions, interacting with the ecosystem and helped suggest innovations. Also included are the winners of the Frenemies Competition. These people will be able to purchase SUI during a Recognition Sale.

    Those who are eligible to receive SUI tokens will be contacted directly by the team. Meanwhile, here is how to check your eligibility to participate in the Sui Recognition Sale:

    1. Verify your Discord here. You must have joined their Discord before 1st February 2023 to be eligible. Note that this verification portal will close on 17th April 2023 at 9:30pm PDT.
    2. If you are eligible, you will be required to fill in a form on their page.
    3. Register for the token sale on Bybit, Kucoin or OKX. You can sign up for an account here: ByBit, KuCoin, OKX.

    We recommend signing up with every participating exchange, especially ByBit for the Sui Recognition Sale. This is because Bybit have been allocated the largest number of tokens allocated to them for sale compared to other exchanges and likely will have the highest trading volume. Meaning it would be easier to get an allocation and faster to trade your SUI tokens before everyone else.

    You must complete the KYC requirements for the exchange you plan to buy your SUI tokens from, so it is suggested to sign up ASAP. Note that people from the United States are not eligible to participate in Sui’s Community Access Program. Also, people from the following countries are not eligible to participate in the Sui Recognition Sale, even though they may be eligible under the Community Access Program: United States, mainland China, Singapore, Quebec (Canada), Ontario (Canada), North Korea, Cuba, Iran, Ukraine, Sevastopol, Sudan, Syria, Uzbekistan, or any other jurisdictions excluded by the exchange.

    Those eligible to participate in the Community Access Program can buy up to 1,500 SUI at US$0.03 per SUI. There will not be any lockup period for the SUI tokens which will be distributed at mainnet launch on 3rd May 2023.

    SUI Recognition Sale Details

    As mentioned previously, some Sui Supporters will be eligible to participate in Sui’s Recognition Sale. These are Sui Discord community members that joined before 1st February 2023 and winners of the Frenemies Competition. The Sui Recognition Sale allows these supporters to purchase Sui at US$0.03/Sui instead of the public price of US$0.1. Only, Bybit, Kucoin or OKX will be hosting the Sui Recognition Sale, so eligible persons must sign up for an account and complete any required KYC on those exchanges.

    According to Sui, over 340k Discord accounts were eligible for the Recognition Sale. Of this, 180k accounts made submissions for the Recognition Sale (this excludes any ineligible accounts). Because there is a maximum allotment of tokens for the Recognition Sale, Sui has done a random selection of the submissions. And it is estimated that around 96k supporters will be able to actually participate in the Recognition Sale (assuming each user purchases the maximum allotment). Sui has emailed these allowlisted participants with instructions as well as the 3 exchanges.

    SUI Tokens will be distributed to successful Recognition Sale participants at the following times:

    • Kucoin: From 01:00 on 2nd May to 09:00 on 3rd May UTC.
    • Bybit: 06:00 on 3rd May UTC.
    • OKX: 06:00 on 3rd May UTC.

    All tokens will be unlocked at Sui mainnet launch on 3rd May.

    Here are the timelines for the Sui Recognition Sale for all 3 exchanges.

    Kucoin:

    Bybit:

    OKX:

    Sui token sale timeline OKX

    Sui 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: For now there is no airdrop, and only those who are eligible under their Community Access Program will either receive SUI or be eligible to participate in their Recognition Sale. The Recognition Sale will allow eligible users to buy SUI at a discounted price.

    Airdropped Token Allocation: 594 million $SUI tokens will be allocated towards their Community Access Program. But they will not be distributed in the form of airdrops.

    Airdrop Difficulty: Sui has not announced any airdrop, but it has said it will reward early users. Their wallet is in devnet stage and has the basic features, in addition, you can mint their Capy NFTs and register a Sui domain name. All these actions only cost SUI tokens, which can be obtained for free. This makes the difficulty quite simple and most importantly, does not involve any cost.

    Token Utility: The SUI token will have 4 main purposes: Gas fees, staking, governance, and as an underlying asset of the Sui economy. This gives $SUI holders a lot of flexibility in terms of how they can use the token.

    Token Lockup: It is speculated that any airdropped $SUI tokens will be locked until the token launch. However, there is no announcement on when this would be.

    Frequently Asked Questions (FAQs)

    What is the Sui Community Access Program?

    Sui Community Access Program is a program that rewards Sui supporters. Under the Community Access Program, only limited categories of early supporters will be able to obtain SUI tokens either via retrospective rewards or a recognition sale. However, there are geographical restrictions, for example US residents are not eligible to receive SUI even if they qualify under the Community Access Program.

    Which countries are excluded from the Community Access Program?

    People from the United States are not eligible to participate in Sui’s Community Access Program. Also, people from the following countries are not eligible to participate in the Sui Recognition Sale, even though they may be eligible under the Community Access Program: United States, mainland China, Singapore, Quebec (Canada), Ontario (Canada), North Korea, Cuba, Iran, Ukraine, Sevastopol, Sudan, Syria, Uzbekistan or any other jurisdictions excluded by OKX, Bybit or Kucoin.

    Who is eligible to join the SUI Token Community Access Program?

    The following categories of persons are eligible to join the SUI Token Community Access Program: Capy Holidays competition winners, Champions (i.e. Testers and moderators) and Supporters (Sui Discord community members that joined before 1st February 2023).

    How do I check my eligibility for the SUI Community Access Program?

    You can check your eligibility at https://verifysupporters.sui.io/

    When is the deadline for signing up for the Sui Community Access Program?

    The verification portal for the Sui Community Access Program will close on 17th April 2023 at 9:30pm PDT.

    What is the token price and lockup period for the Community Access Program?

    Those who are eligible to join the Community Access Program can purchase up to 1,500 SUI at $US0.03 per token. The tokens are not subject to any lockup period and will be distributed at mainnet launch.

    How can I join the SUI Token Recognition Sale?

    First check if you are eligible here. Note that this verification portal will close on 17th April 2023 at 9:30pm PDT. If you are eligible, you will be required to fill in a form on their page. Then, register for the token sale on Bybit, Kucoin or OKX. You can sign up for an account here: ByBit, KuCoin, OKX.

    When is the Sui mainnet launch?

    Sui has confirmed it will launch its mainnet on 3rd May 2023.

  • Arbswap Token Airdrop Guide: How to Claim

    Arbswap Token Airdrop Guide: How to Claim

    Arbswap is a decentralized exchange (DEX) suite native to Arbitrum. Their aim is to become the best-performing DEX on Arbitrum Nova and the no.1 go-to DEX on Arbitrum One. The team has also confirmed on Twitter they will be doing an airdrop of their soon-to-be-released token. In this article, we will explain what Arbswap is and a step-by-step guide on what you can do to receive its token airdrop.

    Arbitrum JUST announced their airdrop. Find out more- Arbitrum ($ARB) Token Airdrop Eligibility: How to Claim?

    Arbswap Airdrop Step-by-Step Guide

    Here’s how to get the ArbEgg NFT and points in the Arbswap Stage 2 token airdrop:

    1. Swap tokens on Arbitrum One network via Uniswap and Sushiswap.
    2. Trading competition on Arbswap Swap page.
    3. Provide liquidity to Arbswap.
    4. Participate in the Prediction Market.
    5. Complete the social tasks to get ArbEgg Points.

    See below for more details!

    What is Arbswap?

    Arbswap is the ultimate game-fi-optimized DEX for Arbitrum Nova and One. The project hopes to offer a streamlined and user-friendly trading experience for all in-game assets, including both fungible and non-fungible assets (e.g. NFTs). Our liquidity farming feature allows projects to host LP incentives on both flexible and locked farming, granting more control to game projects on Nova. With Arbswap, users can enjoy a simplified trading experience for all their in-game needs, eliminating the need to navigate between Uniswap and NFT marketplaces.

    Does Arbswap have a Token?

    Arbswap does not have a token yet, and they have not released their tokenomics. However, they have announced they will do a token airdrop and gave some hints on how you can be eligible for an airdrop.

    Arbswap confirms it will do an airdrop

    How to Get the Arbswap Token Airdrop?

    Arbswap is doing a multi-stage airdrop event to earn ArbEgg NFTs and points, which will translate to an airdrop when its token is launched. Stage 2 of the airdrop is now LIVE from 13 April 2023, 2:00PM UTC to 28 April 2023, 2:00AM UTC! Here’s how to participate in Stage 2 of the Arbswap airdrop:

    Stage 2 will focus primarily on on-chain activities, and there are 4 events for ArbEgg NFT holders to participate in and earn points. Additionally, there will be a leaderboard that tracks all user progress, and the top 100 participants from each event will be rewarded with another exclusive ArbEgg NFT.

    1. Swap tokens on Arbitrum One network via Uniswap and Sushiswap.
    2. Trading competition on Arbswap Swap page.
    3. Provide liquidity to Arbswap.
    4. Participate in the Prediction Market.
    5. Complete the social tasks to get ArbEgg Points

    Now, you can start stacking ArbEgg Points, which gives you a higher chance of getting more airdrops once the event ends.

    Complete social tasks to get ArbEgg Points

    Arbswap has updated stage 2 with extra social events and an extended deadline! Here are the extra events to be completed for bonus ArbEgg Points and prizes!:

    1. 21 April to 24 April Meme Contest: Follow, Like & RT the game post, share your funniest memes. 100 ArbEgg Points will be awarded for the 10 funniest memes!
    2. 24 April to 26 April Meet your ArbEggs: Follow, Like & RT the game post, complete the maze and leave a screenshot in the comments. 50 ArbEgg Points will be given to 20 winners!
    3. 26 April to 27 April Word Puzzle: Follow, Like & RT the game post. Then, complete the Word Puzzle and leave a screenshot in the comment. 20 ArbEgg Point will be given to 50 random winners.

    All ArbEgg Points earned will be converted to $ARBS tokens. Also, all ArbEgg NFT holders and those with the “Real Arbsian” role on Discord will be eligible for the airdrop and get an extra 20% ArbEgg points.

    The top participants in each event of Stage 2 will also be awarded the ArbEgg: Stage 2 NFT. They will automatically be entitled to an even larger $ARBS token airdrop.

    How to Get Maximum ArbEgg Points?

    ArbEgg Points are exclusive to Arbswap’s Discord, where 1 Point equals 1 ArbEgg Point. At the end of each airdrop stage, the Arbswap team will publish a point sheet on Twitter and Discord showing the number of points earned. To check your ArbEgg Points daily, you can also go to the Discord #victory-wall channel.

    1. Follow Arbswap on Twitter.
    2. Join the Arbswap Discord.
    3. Invite friends to Discord with your referral link.
    4. Submit your tweet links to the #tweet-dispatch channel on Discord.

    How to claim your ArbEgg Points?

    For off-chain activities (i.e. Social activities), you will need to comment that you have completed the task on Discord with your wallet address. If you have not done so, you MUST do so by 4am UTC on 5th May 2023 to claim your ArbEgg Points, here’s how:

    1. Join the Arbswap Discord here: https://discord.com/invite/arbswapofficial
    2. Before 4am UTC on 5th May 2023, submit your Arbitrum One wallet address on their collection form.
    3. Afterward, you will be automatically invited to a private Discord channel and granted a “Wallet” role.
    4. Check your total ArbEgg Points here.

    Note that late submissions will be considered disqualified!

    How to Claim $ARBS Token Airdrop?

    Those who receive the $ARBS token airdrop will have 3 options- burn, vest or unlock:

    1. Burn — Claim 10% of the airdrop and burn the remaining tokens.
    2. Vest — Claim 5% of the airdrop and vest 15% over 24 months. The rest will be burnt.
    3. Early Unlock — 0.01 $ETH is required to claim 50% of the airdrop instantly, with 50% vesting over the period of 12 months.

    Arbswap Token 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: Arbswap is currently doing stage 2 of its airdrop, so act fast to earn more points!

    Airdropped Token Allocation: It is unknown how many Arbswap tokens will be allocated towards airdrops.

    Airdrop Difficulty: Getting an Arbswap token airdrop will require you to transact on Arbswap by swapping tokens or adding liquidity to their pools. These are simple actions for most cryptocurrency traders but will require you to use your own funds.

    Token Utility: The Arbswap token utility is unknown.

    Token Lockup: The Arbswap token lockup is unknown.

  • Sui Blockchain Guide: Token sale details announced!

    Sui Blockchain Guide: Token sale details announced!

    What is Sui?

    Sui is the world’s first permissionless Layer 1 blockchain completely designed from the ground up. They are a decentralized, proof-of-stake blockchain with horizontally scaleable throughput and storage.

    Ex-members of the Meta team came together to form Mysten Labs– the company behind Sui. They are also building Move, which is an open-source smart contract programming language.

    However, Sui is not a derivative or an add-on of the Diem network. Instead, it is a step-function advancement in blockchain technology that is designed to allow creators and developers to build experiences for web3 users.

    Who is the team behind Sui?

    Evan Cheng, Adeniyi Abiodun, Sam Blackshear, George Danezis and Kostas Chalkias co-founded Sui. They are co-founders are former senior leaders of Facebook’s (Meta) advanced blockchain research and development organization. They were responsible for delivering some of the most advanced open source components such as the programming language, execution engine and cryptography of the Diem network.

    What are Sui’s main features?

    Sui has the following main features:

    • Sui is able to scale horizontally without any upper bounds. This enables them to meet application demand whilst maintaining extremely low operating costs per transaction.
    • The design of Sui is groundbreaking in that it eliminates a critical bottleneck in existing blockchains. In traditional blockchains, transactions (though independent of each other) are pushed into sequential blocks which creates wasteful computational power. Sui’s innovation is that they will organise data into independent objects, meaning that transactions can be executed in parallel.
    • The network is also able to scale throughput horizontally because it enables parallel agreement on causally independent transactions. They achieve this through Byzantine consistent broadcast, which eliminates the overhead caused by global consensus yet without sacrificing safety and liveness guarantees.

    Sui’s unique features mean there will be unmatched scalability and instant settlement of transactions. The platform can scale horizontally to meet the increasing demands of applications. Sui’s authorities can add workers to increase processing power in order to meet growing network capacity. The result of this would be lower gas fees even when network traffic is high, and thus better user experiences for web3 apps.

    How do users participate in Sui?

    There will be 3 types of participants: Users, token holders and Validators.

    • Users will be responsible for submitting transactions to the platform in order to create, change and transfer digital assets or interact with more complex applications.
    • Token holders have the option of delegating their tokens to validators and participating in their proof-of-work mechanism. SUI token holders also have the right to participate in Sui’s governance and decide on the future direction of the project.
    • Validators manage the processing and execution of transactions on the Sui platform.

    Who are Sui blockchain’s investors?

    Sui has so far raised US$36 million in Series A funding. Sui’s Series A funding round was led by Andreessen Horowitz’s a16z. Other participants in Sui’s funding include Redpoint, Lightspeed, Coinbase Ventures, Electric Capital, Samsung Next, Slow Ventures, Standard Crypto, NFX, and Scribble Ventures, among others.

    Mysten Labs’ Series B funding round is well underway, with Sui being valued at over US$2 billion. Mysten has recently closed a US$300 million fundraise led by FTX Ventures. Other Series B investors include Coinbase Ventures, Jump Crypto, Circle Ventures, a16z (again), Binance Labs, and O’Leary Ventures, among others.

    What is the $SUI crypto token?

    The SUI token is the native asset of the Sui platform with a total supply capped at 10,000,000 (i.e. 10 billion). A portion of SUI’s total supply will be released at the mainnet launch of the platform. The remaining tokens will be vested over the coming years or distributed as future stake reward subsidies.

    The SUI token will have 4 main purposes: Staking, gas fees, as an underlying asset of the economy, and lastly for governance. Specifically:

    • SUI can be staked in order to participate in the platform’s proof-of-work mechanism.
    • SUI is the asset used for paying gas fees required to execute and store transactions or do various operations on the platform.
    • SUI is used as an asset on the platform with all the standard features of traditional money- used as a unit of account, a medium of exchange, and a store of value. It can even have more complex functions enabled by smart contracts across the Sui platform.
    • SUI token holders have the right to participate in on-chain governance voting on various issues affecting the Sui platform such as protocol upgrades.

    What is the $SUI token allocation?

    Over 50% of $SUI tokens will be held by the Community Reserve, which will in turn be managed by the Sui Foundation. The Community Reserve intends to use the SUI tokens through various community programs. For example:

    • Delegation Program: The SUI Delegation Program will allow community members seeking to run a validator to apply for delegated $SUI tokens. This helps bootstrap community-run validators and promotes an even stake distribution across the network validators.
    • Grant Programs: $SUI tokens will be distributed directly to developers, community ambassadors and others who are building or creating educational materials for Sui.
    • Research and Development: Tokens will be allocated for the advancement of the Sui protocol.
    • Validator Subsidies: Tokens will be distributed to subsidize staking rewards.

    As for the remainder of the $SUI tokens, 20% will go to early contributors, 14% to investors, 10% to the Mysten Labs Treasury, and 6% to the Community Access Program and App testers. Click here for more details on SUI tokenomics.

    Those who are eligible under the SUI Token Community Access Program will either receive retrospective rewards or be able to participate in the Recognition Sale. There will also be a General Sale. However, these are subject to geographical restrictions.

    Will there be a $SUI token airdrop?

    Sui had a $SUI token airdrop for its Testnet Wave 1 and 2 validators. Validators were rewarded with 2,000 SUI for every testnet “wave” they participated in. The airdropped tokens were subject to a 1-year vesting period. Although registration has been closed, there is a possibility of a third testnet “wave”. However, in their latest blog post, it seems that an airdrop is unlikely. Instead, Sui has announced a SUI Token Community Access Program which will distribute retrospective rewards or allow access to an earlier Recognition Sale to those who are eligible.

    Learn more about the Community Access Program and how to check your eligibility here: Sui ($SUI) token airdrop guide.

    $SUI token sale details?

    There will be 2 rounds of SUI token sale, the Recognition Sale and the General Sale. Note there are exclusions for participating in the token sales. (Klonopin)

    Sui has confirmed it will officially launch its mainnet on 3rd May 2023.

    For more details on the SUI token sales for each exchange, see here: Bybit, KuCoin, OKX.

    Sui Recognition Sale

    The Recognition Sale is only available to those whitelisted by the Sui Foundation. Those who are eligible can purchase up to 1,500 SUI from a pool for US$0.03. The tokens will be fully unlocked during the mainnet launch on 3rd May 2023.

    According to Sui, over 340k Discord accounts were eligible for the Recognition Sale, and 180k accounts made submissions. Sui randomly selected submissions, and it is estimated that around 96k supporters will be able to participate in the Recognition Sale. Sui has emailed these allowlisted participants with instructions. S

    The following exchanges will participate in the SUI Recognition Sale: ByBit, KuCoin and OKX. SUI Tokens will be distributed to successful Recognition Sale participants at the following times:

    • Kucoin: From 01:00 on 2nd May to 09:00 on 3rd May UTC
    • Bybit: 06:00 on 3rd May UTC
    • OKX: 06:00 on 3rd May UTC.

    We suggest signing up for Bybit because they have the largest number of tokens allocated for sale compared to KuCoin and OKX (94M SUI vs 25M SUI). This means you are more likely to get an allocation compared to the other 2 exchanges.

    Sign up for Bybit here:

    Sui General Sale

    General Sale participants will be able to purchase up to 10,000 SUI at US$0.10. Only KuCoin and OKX will be hosting the General Sale, and each exchange has been allocated 225m SUI for sale in this round. Here are the details for the General Sale on KuCoin and OKX:

    • KuCoin: Subscription period ends on 22nd April 2023 at 16:00:00 UTC, ticket draw will be announced on 23rd April 2023 at 13:00 UTC. Tokens will be distributed on 2nd May 2023 at 01:00:00 UTC.
    • OKX: General Sale subscription period will be from 23 April 2023 02:00 UTC to 24 April 2023 02:00 UTC. Tokens will be distributed once mainnet launches.

    SUI tokens bought during the General Sale are subject to a vesting period. 1/13 will be unlocked at the Token Generation Event (TGE). After 30 days, an additional 1/13 will be released monthly. So that all purchased tokens will be released within twelve months from the TGE date. All purchased tokens will automatically be sent to your exchange wallet.

    What is the Sui economic model?

    There are five major components of the Sui economic model:

    Sui blockchain’s economic model (Source: Medium)
    • SUI token: the platform’s native token.
    • Gas fees: all network operations on the platform require gas fees. Gas fees are rewarded to participants in the proof-of-stake mechanism. It can also be used to prevent spam and denial-of-service attacks.
    • Storage fund: This fund is used to redistribute past transaction fees to future validators. That is, users will pay fees upfront for both computation and storage. The storage fees which are collected are deposited into a fund used to adjust the future share of staking rewards. This is so that when there is a high demand for on-chain storage, validators will receive additional rewards to compensate for their costs. When demand is lower, rewards will also be adjusted accordingly. Users however will be able to save funds through a “deletion option” which allows them to delete previously-stored on-chain data. By exercising this option, users can receive a storage fund rebate.
    • Proof-of-stake mechanism: Used to select, incentivize and reward platform operators i.e. the validators and SUI delegators.
    • On-chain voting: for voting and deciding on governance and protocol upgrades.

    What is the Sui Explorer (Suiscan)?

    The Sui Explorer (known as Suiscan) was launched in August 2022 and is a trusted transparency tool for those who are using and building on Sui. The main purposes of the Sui Explorer are as follows:

    • Maintain the most updated and accurate on-chain data, activity, and metrics;
    • act as a fast, reliable, and transparent tool for debugging issues and auditing;
    • enable the lookup, verification, and tracking of assets and contracts; and
    • provide useful smart contract development and features that will be unique to Sui Move.

    Major features of Sui Explorer are as follows:

    • Sui Explorer builds on existing blockchain explorers by providing go-to-definition support for all smart contracts. Clicking on any struct will direct users to the package and defining module which improves code navigation, readability, and learnability;
    • object details are rendered recursively, thereby providing an optimized view of objects on the Sui Explorer;
    • address details are divided into (1) Coins; and (2) NFTs for convenient navigation. Users will be able to have a clear view of the assets and transactions with this address. Coins that are of the same type are also automatically aggregated. However, an expanded paginated view of the information is also available;
    • transactions will show more details such as gas fees paid, objects updated, token amount and the relevant addressing. For some transactions, additional information such as bytecode of published modules and emitted events can also be included;
    • Sui Explorer will also have a validator table and node map showing the active full nodes and their locations. The purpose of this is to provide information on Sui’s network operations as the network continues to mature.

    Suiscan is currently running on Devnet and eventually also on Testnet when it is live.

    What is the Sui Wallet?

    The Sui Wallet allows users to create addresses and view and manage their assets on the Sui network. The Sui Wallet can also interact with dApps. Similar to MetaMask, Sui Wallet will be a Google Chrome extension so users can simply access it on their Chrome browsers.

    What is the development progress of Sui?

    Sui has confirmed it will officially launch its mainnet on 3rd May 2023.

    Frequently Asked Questions (FAQs)

    When will Sui be released?

    There is no release date for the Sui platform yet.

    When is the SUI crypto token sale?

    There is currently no information on when the SUI token will be sold.

    When is the SUI ICO?

    No announcement has been made on the timing of the SUI ICO yet.

    Is Sui the same or related to Aptos?

    No, Sui and Aptos and completely different and unrelated projects. The only connection between the two projects is that both teams have previously worked in blockchain development at Facebook (Meta).

    When is the Sui mainnet launch?

    Sui has confirmed it will officially launch its mainnet on 3rd May 2023.

    Will there be a Sui token airdrop?

    There is no official announcement of a Sui token airdrop. Instead, it seems that there will be a Community Access Program which will not involve airdrops.

  • ether.fi ($ETHFI) Token Airdrop Guide: Last chance for more points!

    ether.fi ($ETHFI) Token Airdrop Guide: Last chance for more points!

    ether.fi is a liquid staking protocol that is currently conducting its Early Adopter Programme. Users who staked ETH on the platform can earn bonus points, which could translate to an airdrop once the token is launched. The snapshot will be taken in mid-April, so don’t miss it!

    ether.fi ($ETHFI) Airdrop Step-by-Step Guide

    Here’s how to receive the $ETHFI token airdrop:

    1. Connect your wallet to the ether.fi mainnet.
    2. Stake ETH or ETH-pegged assets.

    See below for more in-depth details!

    What is ether.fi?

    ether.fi is a decentralized staking protocol that allows users to earn rewards by delegating staking to node operators. It is unique in that it is the only liquid staking protocol where stakers keep control of their keys while delegating staking to node operators and earning rewards. Users can deposit their ETH, wstETH, rETH, cbETH, sfrxETH into their Early Adopter Programme and earn rewards.

    The project’s smart contracts have been audited by reputable blockchain security firms CertiK and Zellic. They have also implemented a bug bounty program to incentivize security researchers to find vulnerabilities in their smart contracts.

    Project Funding

    Ether.fi has completed a $5.3 million funding round co-led by investors North Island Ventures (NIV) and Chapter One. The funding will be used to hire more engineers for the team and pursue further partnerships in addition to its current relationships with node operators such as Kiln and Finoa.

    Does ether.fi Have a Token?

    Yes, ether.fi is planning to launch its liquid staking derivative token $ETHFI. It will also function as a governance tool for the community.

    How to Get the $ETHFI Airdrop?

    As part of the ether.fi Early Adopter Programme, users who have staked ETH on the platform can earn bonus points, which could translate to an airdrop once the token is launched. The snapshot will be taken mid-April. Here’s a step-by-step guide:

    1. Connect Your Wallet to ether.fi

      Connect your MetaMask or other supported wallets to the ether.fi mainnet. Make sure the page is on “Early Adopter”. You can see this on the top middle of the screen.

    2. Stake ETH or ETH-pegged Assets

      You can stake ETH, rETH, cbETH, wstETH or sfrxETH on their Early Adopter Pool to earn loyalty points. The deposit amount may not be lower than 0.1. Once ether.fi is fully launched, you will be able to migrate your deposit to EtherFi staking.

      Loyalty points will help boost your staking rewards when ether.fi mainnet launches on 2nd May 2023.

      When ether.fi mainnet launches on 2nd May 2023, your staking rewards will be increased if you decide to stake with them and have loyalty points. There may also be a potential for extra airdrop!

      Keep in mind your points will reset after each deposit. You can withdraw at any time with no penalty, but you will lose your bonus points in doing so.

    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: ether.fi is currently conducting its Early Adopter Programme. Users who have staked ETH on the platform can earn bonus points, which could potentially convert to an airdrop upon the token’s launch.

    Airdropped Token Allocation: Their tokenomics is not yet available.

    Airdrop Difficulty: All you have to do is stake ETH or ETH-pegged assets on the platform. Make sure you have enough ETH to cover gas fees.

    Token Utility: $ETHFI is a liquid staking derivative token which also functions as a governance tool for the protocol.

    Token Lockup: Their tokenomics is not yet available.

  • MantleSwap ($MANT) Token Airdrop Guide: LIVE NOW!

    MantleSwap ($MANT) Token Airdrop Guide: LIVE NOW!

    MantleSwap is a decentralized exchange built on the Mantle Network, an Ethereum Layer-2 protocol developed by BitDAO, one of the largest DAOs and a partner of Bybit. The MantleSwap Incentivized Testnet recently launched, and early users could potentially earn token airdrops in the future!

    MantleSwap ($MANT) Token Airdrop Step-by-Step Guide

    Here’s how to get the MantleSwap ($MANT) token airdrop:

    1. Claim Goerli ETH from Faucets
    2. Add Mantle Testnet to MetaMask
    3. Mint $BIT Test Tokens
    4. Bridge $BIT to Mantle Testnet
    5. Claim Test Stablecoins at MantleSwap Testnet
    6. Swap Tokens
    7. Provide Liquidity
    8. Complete Zealy Tasks

    See below for more in-depth details!

    What is MantleSwap?

    MantleSwap is the premier decentralized exchange (DEX) built on the Mantle Network. It offers a suite of DeFi products for Mantle users, including an automated market maker (AMM) exchange, staking services, launchpads, lending, and GameFi.

    At its core, Mantle Network is a technology stack for scaling Ethereum and EVM-compatible blockchains. Mantle has been built with a modular architecture that uses an optimistic rollup with data availability solutions. This allows Mantle to inherit security from Ethereum and offer cheaper and more accessible data availability.

    Does MantleSwap Have a Token?

    Yes, MantleSwap plans to launch its native token $MANT. Details of its tokenomics, emissions rate, and contract address will be announced soon.

    Additionally, the MantleSwap team has hinted on Discord at a potential $MANT airdrop. They encourage community members to interact with the incentivized testnet and stress-test the network.

    How to Get the MantleSwap ($MANT) Token Airdrop?

    The best way to get the $MANT token airdrop is to interact with the MantleSwap Incentivized Testnet. These steps are also part of the Mantle Network ($BIT) token airdrop steps, which means you can potentially earn double the rewards! Here’s a step-by-step guide:

    1. Claim Goerli ETH from Faucets

      You will need Goerli ETH to mint $BIT test tokens and bridge them to Mantle Testnet. You can use the Alchemy Faucet or Goerli PoW Faucet.

    2. Add Mantle Testnet to MetaMask

      Add Mantle Testnet to your MetaMask wallet via ChainList.

    3. Mint $BIT Test Tokens

      Mint $BIT test tokens at the Mantle Testnet Faucet. The network is on Goerli Testnet.

    4. Bridge $BIT to Mantle Testnet

      Go to the Mantle Testnet Bridge, and transfer your $BIT from Goerli to Mantle Testnet. This process might take a while.

    5. Claim Test Stablecoins at MantleSwap Testnet

      You can use your $BIT to claim more test tokens at MantleSwap’s faucet.

    6. Swap Tokens

      Use the Swap feature, and swap some $BIT to $MANT. You can also swap between other available tokens.

    7. Provide Liquidity

      On the Swap page, click the Liquidity tab and deposit a token pair to provide liquidity. You can see your liquidity positions at the Pool page.

      You can also deposit liquidity into a stablecoin pool.

    8. Complete Zealy Tasks

      Join and complete Zealy tasks to unlock roles at MantleSwap’s Discord. These roles can help you earn more rewards in the future!

    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: Although MantleSwap has not yet officially announced a token airdrop, it is typical for incentivized testnets to reward early users upon the launch of the native token. Additionally, the MantleSwap team has hinted on Discord at a potential $MANT airdrop.

    Airdropped Token Allocation: The airdropped token allocation is yet to be announced.

    Airdrop Difficulty: Simply claim $BIT test tokens and bridge them to Mantle Testnet. Swap tokens and provide liquidity at MantleSwap as frequently as you can.

    Token Utility: The MantleSwap team will soon publish details about the utilities of $MANT.

    Token Lockup: There is no tokenomics yet.