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  • Bittrex Exchange Review (2023): Fast Exchanges, Small and Fixed Fees

    Bittrex Exchange Review (2023): Fast Exchanges, Small and Fixed Fees

    Bittrex, a veteran exchange based in Seattle, U.S., and Lichtenstein (Bittrex Global), offers a powerful trading engine with a sleek interface to enable direct purchases of cryptocurrencies using US dollars and trades between more than 220 cryptocurrencies. This Bittrex review will provide an overview of the platform and a comprehensive guide on how to use it effectively.

    Sign up here to get started

    What is Bittrex?

    Bittrex is a Seattle-based cryptocurrency exchange founded in 2014 by Bill Shihara, Richie Lai, Rami Kawach and Ryan Hentz. The team has a combined 50+ years of experience in security and development for companies like Microsoft, Amazon, Qualys, and Blackberry. Bittrex is a secure and reliable platform for trading digital assets, offering many features and services. It is the go-to exchange for traders looking for a fast, secure, and easy-to-use platform. With its advanced security measures, Bittrex is the sheriff of the Wild West of cryptocurrency trading, ensuring its users a safe and secure trading experience.

    Bittrex is a crypto-to-crypto trading exchange that offers users the ability to purchase digital coins with fiat currencies. To do so, users must pass their full bank verification process. The exchange offers more than 190 different cryptocurrencies and 284 unique trading pairs. Users can invest in cryptocurrencies using USDT, a cryptocurrency whose value is tied to the US Dollar. Bittrex is a secure and reliable trading platform that allows users to easily and safely purchase digital coins with fiat currencies.

    Key Features of Bittrex

    The Bittrex exchange also boasts the following noteworthy features:

    More than 220 cryptocurrencies: Trade popular and obscure coins like XRP, Litecoin, and Bitcoin to make huge profits.

    Reliable, Secure, and Robust Platform: Former security engineers founded Bittrex, which has never been compromised. Also, it conforms with important regulations, making it a reliable exchange.

    On and off ramps for USD and EUR: You can add and remove fiat money from and to your bank account straight using Bittrex. Use the credit/debit card deposit tool, which is almost instant and only costs 3% per transaction, to swiftly top up your account.

    Smart Mobile Trading: You can trade your preferred cryptocurrency markets while on the road thanks to the Bittrex mobile apps for iOS and Android.

    Supportive Customer Service Staff: The rich knowledge library on Bittrex teaches users all they need to know about trading on the platform. Sending a ticket through Zendesk will work if that doesn’t.

    Key Advantages of Bittrex

    Here are some advantages of Bittrex:

    Fees

    Bittrex is a cryptocurrency exchange that charges a flat rate of 0.25% on every trade, making it a great option for newbies. This fee is slightly higher than the average, but it makes things simpler. Bittrex also charges a 0.2% commission fee on all trades, so if you buy one bitcoin for USD 10,000, you’ll pay around USD 20 in commission. Compared to other exchanges, Bittrex’s fees are in the middle range. When it comes to deposits and withdrawals, Bittrex allows you to top up your account using a bank card (VISA), wire transfer, SEPA transfer, or cryptocurrencies. VISA deposits come with a 3% fee, while wire transfer costs depend on your bank. SEPA transfers are usually cheaper and faster than traditional wire transfers.

    Variety

    Bittrex is a popular cryptocurrency exchange that offers a wide selection of coins (>190) for users to trade. It includes both well-known coins like Bitcoin and Ethereum, as well as newer coins like Loopring and Tron. Bittrex reviews its listed currencies every day and adds new coins as often as possible. This makes it a great choice for those looking to trade a variety of coins, as it offers more than double the number of coins than Poloniex (80). Bittrex is a reliable and secure platform for those looking to trade cryptocurrencies.

    Usability

    Bittrex is a popular cryptocurrency exchange offering a wide range of altcoins and high liquidity in the markets. The exchange has a user-friendly interface, with a main dashboard listing supported trading markets with price overviews, volume, and percentage of price change during the last 24 hours. The exchange offers USD, BTC, ETH, USDT, and EUR markets, making it a great choice for traders looking to liquidate their positions on short notice. Bittrex also has a US version of the exchange, which lists fewer assets compared with its international counterpart.

    Bittrex Mobile App

    Bittrex is a leading cryptocurrency exchange that offers a secure, reliable, and advanced trading platform for users to buy, sell, and trade digital assets. It is accessible through the web, as well as convenient mobile apps for Android and iOS devices. With Bittrex, users can deposit, withdraw, follow, and trade all supported markets on the go. It is a great tool for trading on the go and provides a secure and reliable platform for users to buy, sell, and trade digital assets.

    Customer Support

    Bittrex is a secure and reliable cryptocurrency exchange with a customer support team that is slightly better than other exchanges. It offers support via Slack, Twitter and Facebook. Despite its security measures, some users have experienced difficulties with enhanced account verification and withdrawals. In October 2017, 0.1% of user accounts were disabled as part of a systemwide compliance review. Bittrex is one of the safest large exchanges on the web, but its security measures can sometimes create inconveniences for individual users.

    Key Disadvantages of Bittrex

    Fiat Trading

    Bittrex, one of the leading cryptocurrency exchanges, does not currently allow users to trade using fiat currencies. However, in a recent podcast, Bill Shihara, CEO of Bittrex, said that users will soon be able to trade in US Dollars. Until then, users must own Bitcoin, Tether or Ethereum before they start trading. Other exchanges like Kucoin and Kraken allow users to buy cryptocurrency with fiat currencies. As of 2023, Bittrex now supports fiat payments, allowing users to buy cryptocurrency with US Dollars. This makes it easier for users to access the cryptocurrency market and start trading.

    Accessibility

    Bittrex is a secure platform for trading digital assets, but some users have been locked out of their accounts due to the platform’s strict verification process. Bittrex is now working on finding the right balance between security and user access. The platform is striving to provide a secure environment while also making it easier for users to access their accounts. Bittrex is committed to providing a secure platform for its users and is working to ensure that users can access their accounts without any issues.

    How to Use Bittrex?

    Let’s start at the top and take it one step at a time.

    1. Open an Account here. Starting is easy. You’ll be prompted to enter your email address and select a password when you go to the Bittrex homepage, click on LOG IN, and then click SIGN UP.

    2. Get a Bittrex address. Now that you’ve got some coins, you can send them to Bittrex and start trading with it. To do this, you need to log in to your Bittrex account. Now click on WALLETS then choose the coins you want to send. Here, we’re using Bitcoin as an example. Click on the ‘+’ icon. A message will read DEPOSIT BITCOIN and you will be sent a link to your Bittrex address.

    3. How to Trade on Bittrex? Go to API KEYS and turn everything ON except WITHDRAW. Have a look at the picture below to see what I mean. Now, go to CONFIG and select Bittrex as your exchange. Select MARKETS to choose the currency you want to trade. We’ll use Ark as our example. You can check what price Ark is being sold for in the ORDER BOOK. Now you can choose the amount you want and make a bid by clicking BUY ARK.

    4. Withdrawals. You might wish to withdraw part of your profits once you’ve made a ton of money trading cryptocurrency. To do this, go to your account panel, select the “-” icon, and then type the recipient’s address. Use your Coinbase address or another external wallet as an illustration.

    Who Should use Bittrex?

    Bittrex is a popular cryptocurrency exchange that is user-friendly and secure. It is great for experienced traders, but not ideal for beginners as it does not allow fiat trading. There are hundreds of coins to choose from, which can be confusing for new traders. Bittrex has had some issues with customer service, but they are working on it. Security is a major plus, as the team behind Bittrex have done security for Microsoft and Amazon. All in all, Bittrex is a great platform for experienced traders, but beginners should look elsewhere for their first exchange.

    Conclusion

    Bittrex is a top-tier cryptocurrency exchange that offers a safe and easy-to-use platform for users to buy and sell digital assets. With over 250 coins available, users can take advantage of the wide selection of coins and tokens to trade. Bittrex also offers a secure wallet for users to store their digital assets, as well as advanced features such as two-factor authentication and cold storage. With its user-friendly interface and a great selection of coins, Bittrex is a great choice for those looking to buy and sell digital assets.

    Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.

  • Robinhood Exchange Review (2023): Great Investing Platform but Poor Option for Trading Crypto?

    Robinhood Exchange Review (2023): Great Investing Platform but Poor Option for Trading Crypto?

    Robinhood is a US-based stock investment company that enables customers to purchase and trade traditional stocks, ETFs, and cryptocurrencies. If you want to know if it is the right exchange for you, read this Robinhood article review.

    Sign up here to get started.

    What is Robinhood?

    Robinhood is a US-based stock investment company that enables customers to purchase and trade traditional stocks and ETFs. Since 2018, the platform has also started supporting cryptocurrency investments, allowing users to buy and sell Bitcoin, Ethereum, and other digital assets.

    It offers users unique features such as zero-commission trades. Since its launch, the platform has gained increasing attention from users, resulting in the emergence of Robinhood Crypto reviews. It also provides users with real-time market data, portfolio tracking, and a variety of educational resources.

    Key Features/Advantages of Robinhood

    Trade Cryptocurrency Without Commission

    When it comes to cryptocurrency exchanges, fees can vary drastically. While some exchanges offer fees as low as 0.1%, others might charge up to 5%. The general benchmark of crypto exchange fees is considered to be around 0.25%. If it’s higher, it might be worth looking for an alternative. It’s important to research the fees of each exchange before trading. They can have a significant impact on your profits. Additionally, some exchanges may also charge additional fees for deposits and withdrawals. (https://northeastohiogastro.com/) It’s important to factor these in when deciding which exchange to use.

    Robinhood is a popular online trading platform that offers users the chance to trade cryptocurrencies commission-free. This means that there are no fees associated with trading crypto on Robinhood. It makes it an attractive option for those looking to invest in the crypto market. It also makes it a great choice for beginner traders, as they won’t be punished as harshly for mistakes due to the lack of fees. 

    Offers All of the Main Cryptocurrencies

    When selecting the best crypto exchange for your needs, it’s important to consider the range of supported cryptocurrencies offered by each platform.

    Cryptocurrency is gaining traction and more people are now interested in a wider variety of coins than ever before. With the right cryptocurrency exchange, you can trade all the coins you want on one single platform.

    In 2018, Robinhood was offering only two cryptocurrencies for trading – Bitcoin and Ethereum – which remain the two leading cryptos on the market even today.

    They currently support these cryptos:

    • Bitcoin
    • Ethereum
    • Bitcoin Cash
    • Bitcoin SV
    • Litecoin
    • Ethereum Classic
    • Dogecoin

    Although the variety of cryptocurrencies available on Robinhood is not as extensive as some users would like, the platform does offer a selection of major cryptocurrencies, such as Bitcoin and Ethereum. However, some users have noted in their Robinhood reviews that the platform does not include some major cryptocurrencies, such as XRP (Ripple).

    One of the More-Reliable & Secure Investments Platforms in the US

    When it comes to cryptocurrency trading, the trustworthiness of a platform is paramount in order to attract users. Crypto enthusiasts are often wary of anything that is out of the ordinary due to the prevalence of scams in the crypto market, so it is important to ensure that a platform is reputable and secure before investing.

    With a long-standing reputation for reliability and security, Robinhood has become a trusted stock investment platform. The same can be said for its crypto offerings, which have earned the platform a positive user review from the majority of its customers.

    Crypto investments are not protected by the same insurances as traditional stock investments. The company itself warns that external factors can affect the value of crypto assets. Experienced crypto holders are well aware of this risk.

    Robinhood provides users with a secure storage option for their crypto assets, keeping the majority of them in cold wallets. Cold wallets, also known as hardware wallets, are highly secure and one of the best options for storing cryptocurrencies.

    A Very Simple & Beginner-Friendly Interface

    When it comes to high-end cryptocurrency exchanges, simplicity and ease of use are often overlooked, but they are essential features that should not be underestimated. For example, Binance is a great example of how a user-friendly interface can make a huge difference in the user experience.

    Beginner traders and investors often face a stigma surrounding the trading and investing scene, as many believe these processes to be overly complex and difficult to get into. However, with the right guidance and resources, trading and investing can be made much simpler.

    Robinhood crypto reviews show that the platform is designed to be user-friendly for both new and experienced crypto traders. The streamlined interface makes it easy for beginners to get started, while experienced traders can still benefit from the platform’s features.

    Key Disadvantages of Robinhood

    Only Accepts Traders from the US

    Many cryptocurrency exchanges have a variety of restrictions in place, particularly for US-based users. This is due to the Securities Exchange Commission (SEC), a US institution that safeguards US-based investors from potential risks associated with foreign and domestic investing. To include US residents, crypto exchanges must be certified by the SEC, which can be a complex process.

    Robinhood reviews from users around the world are quite different than what you might expect. Unfortunately, this investing platform is only available to US-based investors. Meaning those from other countries are unable to use the platform. This is a major drawback for many potential investors. Additionally, once you purchase crypto on the site, you are locked to it, which is another issue that many users have with Robinhood.

    No Option to Transfer Assets Outside of the Platform

    If you’re a beginner trader, you may be wondering why you would need to transfer your crypto assets from Robinhood if you choose to trade on the platform. The answer is that Robinhood does not allow you to transfer your assets to a separate wallet, meaning your assets are locked to your RH account until you liquidate them.

    .Cryptocurrency trading requires security. One of the best ways to ensure this is to never leave your coins on an exchange. Many traders keep a small number of assets on a platform for quicker trading, buying, and selling, but the bulk of their coins should be transferred to a secure and separate wallet. This is because exchanges are not always secure and can be vulnerable to hacks. This results in the loss of all cryptocurrency assets.

    How to Use the Robinhood Exchange?

    Registering and using Robinhood Crypto is easy and straightforward. The platform offers a user-friendly interface and a simple registration process. Additionally, the platform provides a variety of helpful resources to help users make informed decisions about their investments.

    How to Register on Robinhood?

    1. Create an account on Robinhood’s official website by clicking the Sign Up button at the top-right corner of the screen.
    2. Create a secure password and provide your name and email address to get started.
    3. Upon successful registration, you will be redirected to additional pages where you will be asked to provide additional information about yourself. Depending on the time of registration, the requirements may vary. Provide your current address, postal code, contact number, and other relevant information to get started.
    4. Verifying your identity is a standard procedure when investing with any cryptocurrency exchange or investment platform. This is part of the KYC (Know Your Customer) regulations, which helps ensure the security and legitimacy of the platform. This also includes providing their Social Security Number.

    Once you have submitted all of your documents, filled out all of your details, and passed the verification checks, you will need to wait for a period of time until your application is either accepted or denied.

    The Usability Aspects of Robinhood

    Robinhood users generally report positive experiences with the platform’s usability, with many noting that it is beginner-friendly and easy to use.

    The process of acquiring crypto is straightforward. To purchase a specific crypto asset, simply navigate to its Details page and enter the desired amount. After reviewing the order and confirming that everything is correct, execute the order and enjoy your newly acquired crypto coins!

    The purchasing process is quick and easy, making it a much more pleasant experience than the registration process.

    Conclusion

    If you’re looking for a top-tier cryptocurrency exchange that offers fiat-crypto and crypto-crypto trading pairs, as well as easy crypto asset withdrawals, there are better options than Robinhood.

    This platform is easy to use and provides a safe and reputable financial environment to buy some of the main cryptocurrencies. However, the variety of crypto assets is limited and the site is not a crypto exchange. Furthermore, it does not support coin withdrawals, multiple crypto trading pairs, or users located outside of the US (except for Hawaii, West Virginia, Nevada, and New Hampshire).

    Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.

  • Polynomial Protocol $OP Token Airdrop Guide: LIVE NOW!

    Polynomial Protocol $OP Token Airdrop Guide: LIVE NOW!

    Polynomial Protocol is a decentralized derivative exchange powered by the Synthetix Protocol on Optimism. They have distributed Optimism ($OP) airdrops to active users in the past and could do so again. In this article, we will briefly explain what Polynomial Protocol is and what you can do to position yourself for the retroactive airdrop.

    What is Polynomial Protocol?

    Polynomial Protocol is built on top of Synthetix, with $SNX stakers serving as counterparties for transactions on Polynomial. By offering liquidity, $SNX stakers receive fees from the platform. Apart from trading, Polynomial offers two more products to make DeFi more accessible to users:

    1. Polynomial Earn Vaults: These are the first DeFi Options Vaults (DOV) that operate entirely on-chain by selling options directly to an Automated Market Maker (AMM).
    2. Polynomial Swap: This product streamlines the swapping process on Optimism, particularly for synthetic assets. Non-synthetic assets are routed through 1inch to ensure a seamless experience.

    Does Polynomial Protocol have a Token?

    Salman Naseer, founder of Polynomial Protocol, said in Discord that they are not planning a token launch at the moment. In the meantime, active users can only claim Optimism ($OP) tokens as rewards.

    How to Get Retroactive $OP Airdrop on Polynomial?

    The best chance to get another retroactive $OP airdrop is to interact with the Polynomial Trade, Earn, and Swap features. Here’s a step-by-step guide:

    1. Connect Your Wallet to Polynomial Protocol

      Connect your MetaMask or other supported wallets to the Polynomial Protocol trading app. The available networks are Optimism and Ethereum.

    2. Create Polynomial Smart Wallet

      After you connected your wallet, you will need to create a Polynomial smart contract wallet. For this part, you also need some ETH to cover gas fees.

    3. Deposit sUSD in Smart Wallet

      After creating your smart wallet, you will need to deposit at least $50 sUSD to start trading. You can use the swap feature to get sUSD.

      If you don’t have funds in Optimism, you can bridge your assets via the MetaMask bridge aggregator (this could also qualify you for the $MASK airdrop). You can also buy sUSD on KuCoin and transfer them to your Optimism wallet.

    4. Trade Perpetual Futures

      You can now trade perpetual futures on the platform. Polynomial has a detailed guide on how to open up standard orders or limit orders for long and short positions.

    5. Use Earn Vaults

      You can deposit sETH or sUSD to earn yields in the Polynomial Earn Vaults. It is important to note that these vault strategies are subject to market risks. Check out their earn documents to understand more.

    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: There is no official announcement of the next retroactive $OP airdrop yet. But Polynomial is growing, so there is a good chance there will be another incentive for the community.

    Airdropped Token Allocation: The airdropped token allocation is unknown.

    Airdrop Difficulty: The trading platform offers a user-friendly interface and operates on the Optimism mainnet. As with any investment, it is advised to only use funds that one is prepared to risk.

    Token Utility: Polynomial has no plans to launch its own token yet.

    Token Lockup: Polynomial has no plans to launch its own token yet.

  • LimeWire ($LMWR) Token Airdrop Guide: LIVE NOW!

    LimeWire ($LMWR) Token Airdrop Guide: LIVE NOW!

    LimeWire is making a comeback under new ownership as a digital collectible marketplace focused on art and the music industry. In celebration of its comeback, LimeWire is launching a huge giveaway campaign featuring a $1,500,000 prize pool. To participate, join the official waitlist and invite friends for a chance to win up to 100,000 $LMWR tokens!

    Visit the LimeWire waitlist page and click on “Join Waitlist” before it ends on May 2nd!

    What is LimeWire?

    LimeWire was a popular peer-to-peer file-sharing platform in the 2000s, with over one-third of all computers globally having installed the program in 2007. It was primarily used for downloading and distributing pirated music, which led to its shutdown as a result of copyright infringement issues.

    LimeWire is now returning as an NFT marketplace deployed on Ethereum, and its comeback has also been featured on CoinTelegraph. The platform caters to the art and entertainment space, initially focused on music. Artists will earn the largest portion of income and maintain full autonomy, ownership, and authority over their creations. Moreover, LimeWire will provide the option for direct credit card transactions, removing the necessity for crypto wallets.

    $LMWR Token

    Token Utility

    The LimeWire Token ($LMWR) is an ERC-20 utility token central to the LimeWire ecosystem, offering users various perks and benefits in a loyalty-tier system. Users can pay with $LMWR for discounts, tipping creators, and accessing exclusive content. (https://vallartainfo.com) Creators can earn in USD or $LMWR for a larger revenue share, and both users and creators can receive activity rewards.

    $LMWR also enables governance, with holders having voting rights and participating in the LimeWire Foundation’s decisions. Royalty distribution from pay-per-view revenues is also done in $LMWR tokens.

    Tokenomics

    The total supply of $LMWR tokens is fixed at 1 billion. 43% of the total supply will be distributed to the community, including a 1 million $LMWR allocation to be awarded evenly to all LimeWire Original NFT holders.

    How to Get the $LMWR Airdrop?

    The top 4,000 referrers are eligible for the $LMWR airdrop, with the prize value distributed as follows:

    • Top referrer gets 100,000 $LMWR (USD $30,000)
    • Referrers ranked 2 to 6 each get 50,000 $LMWR (USD $15,000)
    • Referrers ranked 7 to 4000 each get 100 $LMWR (USD $30) and one LimeWire Original NFT (USD $750)

    Visit the LimeWire waitlist page and click on “Join Waitlist”. Enter your email and verify it in your inbox. You can now share your unique referral link with friends to improve your rank!

    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: LimeWire has confirmed airdropping $LMWR tokens. It will take place on May 2nd.

    Airdropped Token Allocation: $1.5 million worth of $LMWR tokens will be distributed to the top 4,000 referrers.

    Airdrop Difficulty: Simply visit the LimeWire waitlist page and click on “Join Waitlist”.

    Token Utility: The LimeWire Token ($LMWR) is an ERC-20 utility token offering users perks and benefits within the LimeWire ecosystem, facilitating payments, earnings, activity rewards, governance, and royalty distribution for both users and creators.

    Token Lockup: Community pre-sale has no lockup and a 3-month linear release. Public Sale Option I has a 6-month lockup and a 6-month linear release, while Public Sale Option II has no lockup or vesting period.

  • ParaSpace Token Airdrop Guide: LIVE NOW!

    ParaSpace Token Airdrop Guide: LIVE NOW!

    ParaSpace recently introduced an incentive program in which users’ actions and activities earn points that can be redeemed for ParaSpace governance tokens through an airdrop when the token launches. Moreover, users have the opportunity to receive a 300% boost in points accumulation until June 30, 2023. In this article, we will explain what ParaSpace is and what you can do position yourself for the airdrop.

    ParaSpace Airdrop Step-by-Step Guide

    1. Connect Wallet to ParaSpace App
    2. Supply ERC-20 or ERC-721 Tokens to ParaSpace
    3. Liquidate NFTs
    4. Borrow ERC-20 Tokens
    5. Stake ApeCoins ($APE) in Auto Compound Pool
    6. Stake NFTs in Auto Compound Pool
    7. Use Share Staking Pool
    8. Buy NFT with Credit

    More in-depth details can be found below!

    What is ParaSpace?

    ParaSpace is a cross-margin NFT lending protocol that enables users to borrow ETH, stablecoins, and supported ERC-20 tokens against various crypto assets such as blue-chip NFTs, ERC-20 tokens, and Uniswap V3 LPs. The platform allows NFT owners to lend and borrow ERC-20 tokens against a diverse array of non-fungible investments, while ERC-20 holders can earn yields through lending against NFTs.

    According to DefiLlama, ParaSpace is the second largest NFT lending protocol in total value locked ($100.5 million) at the time of writing. It is also the sister company of Parallel Finance ($PARA), and both platforms have been audited by some of the top smart contract security firms such as Certik, Trail of Bits, and Veridise.

    Does ParaSpace have a Token?

    ParaSpace does not have a token yet, but has confirmed that it will launch a governance token in the future. Token holders will be a part of the platform’s decentralized autonomous organization (DAO).

    How to Get ParaSpace Token Airdrop?

    ParaSpace recently announced an incentive program where users’ actions and activities are rewarded with points that will be redeemed for ParaSpace governance token via airdrop when the token launches. Additionally, users can enjoy a 300% boost for earning points until 30th June, 2023. Here’s a step-by-step guide:

    1. Connect Wallet to ParaSpace App

      Connect your MetaMask or other supported wallets to app.para.space. The network is Ethereum Mainnet. You will need ERC-20 tokens or ERC-721 (NFTs) to interact with the protocol. Make sure you have enough ETH to cover gas fees.

    2. Supply ERC-20 or ERC-721 Tokens to ParaSpace

      If you own any blue-chip NFTs such as Bored Apes or CryptoPunks, you can supply them to the protocol to earn yields. Click the “supply” button on the main page.

      Similarly, you can also lend out ERC-20 tokens to earn yields.

    3. Liquidate NFTs

      You can perform liquidations for both the user account and tokens held within the account in the Liquidation section.

    4. Borrow ERC-20 Tokens

      You can borrow ERC-20 tokens from the protocol, but you will first need to supply NFTs or ERC-20 tokens as collateral.

    5. Stake ApeCoins ($APE) in Auto Compound Pool

      You can stake your $APE in the ParaSpace ApeCoin Pool to earn high APY rewards. You can also borrow $APE to stake if you don’t have any.

    6. Stake NFTs in Auto Compound Pool

      For NFT owners with or without ApeCoins, you can stake your NFTs in the NFT Staking Pools to earn $APE.

    7. Use Share Staking Pool

      You can create $APE listings or NFT listings for the Share Staking Pool. This allows you to find other users to match with your assets for staking purposes and share the APY rewards.

    8. Buy NFT with Credit

      You can also buy listed NFT collections with ETH in the ParaSpace marketplace.

    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: ParaSpace has confirmed users’ actions and activities will be rewarded with points that will be redeemed for ParaSpace tokens via airdrop when the token launches. Additionally, users can enjoy a 300% boost for earning points until 30th June, 2023.

    Airdropped Token Allocation: ParaSpace is still designing its tokenomics for long-term sustainability.

    Airdrop Difficulty: It is recommended to engage in this activity only if you have experience borrowing and lending Ethereum NFTs. You will need ERC-20 tokens or ERC-721 (NFTs) to interact with the protocol. You will also need some ETH to cover gas fees.

    Token Utility: The ParaSpace token will be used for governance of the lending protocol.

    Token Lockup: Details of token lockup period is not yet available.

  • SoonSwap ($SOON) Token Airdrop Guide: Ends 31 March!

    SoonSwap ($SOON) Token Airdrop Guide: Ends 31 March!

    SoonSwap is giving away 2.1 million $SOON tokens in airdrop rewards. To qualify, you will need to sign up and complete simple tasks by 31st March 2023. In this article, we will explain what SoonSwap is and what you can do to position yourself for the airdrop.

    SoonSwap ($SOON) Airdrop Step-by-step Guide

    Here’s how to receive a potential SoonSwap ($SOON) airdrop:

    1. Follow and retweet SoonSwap on Twitter.
    2. Join SoonSwap Discord.
    3. Join SoonSwap Telegram.
    4. Link your ERC20 wallet address.
    5. Get extra entries with a referral link.

    See below for more details

    What is SoonSwap?

    SoonSwap is an Ethereum-based NFT marketplace that operates on a decentralized automated market maker (AMM) system. The platform combines an order book matching mechanism with an AMM liquidity pool to enhance pricing discovery mechanisms and simplify NFT asset trading. With SoonSwap, NFTs can be traded more efficiently and at better prices, promoting increased accessibility and liquidity for users.

    The platform also offers users the ability to exchange NFTs for tokens and vice versa, while also providing a passive income opportunity to users and community members through farming actively adding liquidity to the AMM LP pools.

    Does SoonSwap have a Token?

    Yes, SoonSwap confirmed in its document that there will be a $SOON token. It serves as a certificate for community participation in governance, allowing holders to vote on proposals, allocate liquidity incentives, and initiate upgrade proposals. (sweet-factory)

    According to the tokenomics, the total supply of $SOON is 1 billion tokens, and 2% of it is allocated to early adopters as airdrop rewards.

    How to Receive $SOON Airdrop?

    Sign up on SoonSwap Airdrop Gleam page and complete the following tasks to earn entries for the airdrop reward:

    1. Follow and retweet SoonSwap on Twitter.
    2. Join SoonSwap Discord.
    3. Join SoonSwap Telegram.
    4. Link your ERC20 wallet address.
    5. Get extra entries with referral link.

    The higher entries you have, the more likely you will receive the airdrop. SoonSwap confirmed that the top 7,000 participants will be rewarded with $SOON.

    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: SoonSwap is airdropping 2.1 million $SOON tokens to participants who signed up for the Gleam page before 31st March 2023.

    Airdropped Token Allocation: 2% of the total $SOON supply (1 billion) is allocated to airdrops.

    Airdrop Difficulty: The tasks on the Gleam page are very easy to complete.

    Token Utility: $SOON serves as a certificate for community participation in governance, allowing holders to vote on proposals, allocate liquidity incentives, and initiate upgrade proposals.

    Token Lockup: 50% at TGE and 50% after 3 months’ cliff.

  • Script Network ($SCPT + $SPAY) Token Airdrop Guide: LIVE NOW!

    Script Network ($SCPT + $SPAY) Token Airdrop Guide: LIVE NOW!

    The Script Network testnet just went live, and you can earn points from completing simple tasks, which directly correspond to your token rewards. In this article, we will explain what Script Network is and what you can do to position yourself for the airdrop.

    You can use our referral code 9GYApp1S3I to sign up for their testnet!

    Script Network ($SCPT + $SPAY) Airdrop Step-by-step Guide

    Here’s how to get a potential Script Network airdrop:

    1. Sign up for Script Network
    2. Interact with Script Network
    3. Create a wallet.
    4. Request $SPAY and $SCPT tokens from faucet.
    5. Stake tokens
    6. Transfer tokens between wallets
    7. Complete tasks on Crew3

    See below for more details

    What is Script Network?

    Script Network, also known as Script TV, is a decentralized streaming platform powered by their own layer-1 protocol, Script Blockchain. It aims to solve some of the problems the current streaming industry is facing. Apart from video streaming services, the system provides incentives for decentralized bandwidth and content-sharing, all at a more affordable rate than conventional service providers. Moreover, users can earn tokens (i.e. $SPAY) and other rewards from watching content, hence their watch-to-earn economy model.

    Script Blockchain

    Script Blockchain is a specialized blockchain designed to relay video and data. Its unique multi-BFT consensus design includes Validator Nodes and Lightning Nodes that propose and verify new blocks. The blockchain also supports Turing-complete smart contracts, allowing for new user experiences and attribution models for DApps.

    With smart contracts, users can enjoy digitized item ownership, innovative payment models, and trustless crowdfunding mechanisms. As a result, community members can host and relay live stream video data globally. The network is run by thousands of community members, eliminating the need for a single central server or service.

    Who is the Team behind Script Network?

    Abiel Alazar and Akeem Ouko are the co-founders of Script Network, which has a team of team skilled professionals with previous work experience at Sony, HBO, Spotify, EA, PayPal, Nike, and Adidas. They’re backed by some of the prominent Web3 organizations including Chainlink, NFTrade, Poolz, and Gate.io.

    Does Script Network have a Token?

    Yes, in fact, Script Network uses a dual token system — $SCPT and $SPAY:

    • $SCPT is the governance token used to manage the network and content through a decentralized autonomous organization (DAO), with a fixed supply of 1 billion tokens. It can also be used as payment for advertising and earned by running a node. Furthermore, users can stake $SCPT to receive crypto and NFT rewards.
    $SPCT token utility
    $SPCT token utility (Image source: Medium)
    • $SPAY is the operational token that is used for serves as a means of rewards, transactions, and upgrading ScriptGLASS, which is the required NFT for watch-to-earn. Unlike $SCPT, $SPAY has a token supply of 5 billion with a 7%-9% yearly inflation. Its primary function is to facilitate all transactions on the blockchain, including payment for sharing a video stream, interacting with smart contracts, and NFT transaction fees, among others.
    $SPAY token utility
    $SPAY token utility (Image source: Medium)

    How to Receive $SPAY Airdrop?

    Script Network has confirmed airdropping 10% of the total $SCPT supply and 7.5% of the initial $SPAY supply to the community. Here’s how to potentially get a $SPAY airdrop:

    1. Sign up for Script Network
    2. Interact with Script Network
    3. Create a wallet.
    4. Request $SPAY and $SCPT tokens from faucet.
    5. Stake tokens
    6. Transfer tokens between wallets
    7. Complete tasks on Crew3

    Sign up for Script Network

    Go to token.script.tv/tv and click “sign in/sign up.” Connect your wallet such as MetaMask, and then sign up with your email. You can use our referral code 9GYApp1S3I.

    Interact with Script Network

    Once you have logged into Script Network, you’ll see all the channel and program schedules as you scroll down. You can select any video to watch, and there is a live chat room as well!

    Go to token.script.tv/dashboard to see your account analytics. You can see your rewards and referral code here. There are also other features on the DApp, but they aren’t open currently.

    As of now, there are four ways to earn points for the airdrop:

    1. Log in every day.
    2. Watch at least one video every day.
    3. Talk on the live chat.
    4. Invite friends with a referral code.

    Create a wallet

    To qualify, you need to sign up at the Script Network website here. To create a new wallet click “Create a Wallet” at the bottom of the page. Then you will be required to set up a password, tick the disclaimer, and download keystone onto your device. Afterward, copy down the 12-word recovery phrase and keep it safe. Finally, unlock your wallet to continue.

    Script Network wallet
    Script Network wallet

    Request $SPAY and $SCPT tokens from faucet

    To request $SPAY tokens, go to “Receive” in your wallet and “Faucet”. Afterward, you will be automatically logged out and asked to re-login. This is for security reasons. You will receive your testnet $SPAY tokens within 10–15 minutes.

    To request $SCPT tokens, you will need to type in your Script Native wallet address in their #scpt-token-faucet Discord channel. You will receive your testnet $SCPT tokens within 24 hours.

    Stake tokens

    Note this option is only available to those who are running a test edge, lightning or validator node.

    Transfer tokens between wallets

    To transfer tokens, go to “Send” in your Script wallet. Choose which token ($SPAY or $SCPT) you wish to send, the destination address and the amount. Then hit “Send” and confirm the transaction with your wallet password.

    Complete tasks on Crew3

    Script Network has a Crew3 Questboard where users can complete tasks in order to earn XP points. Tasks include signing up to Script Network, joining and participating in their social media channels etc. The team has confirmed on their Discord channel that the XP rewards earned on Crew3 may be converted to rewards and used as the snapshot for the leaderboards. To participate in the Script Network Crew3, go to their Crew3 Questboard, connect your wallet, and complete the tasks.

    Script Network 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: Script Network has confirmed a $SCPT and $SPAY airdrop to the community.

    Airdropped Token Allocation: 10% of the total $SCPT supply and 7.5% of the initial $SPAY supply will be airdropped.

    Airdrop Difficulty: The four tasks are very easy to complete, just make sure to do them every day.

    Token Utility: $SCPT is the governance token used to manage the network and content display, whereas $SPAY will be the operational token for transaction fees, rewards, and upgrading the ScriptGLASS NFT.

    Token Lockup: The issuance of $SCPT tokens will follow a strict vesting schedule, indicating that Validators agree not to trade tokens during the initial six months and instead contribute them to the staking pool during this timeframe to facilitate the network’s functioning.

  • Spin ($SPIN) Token Airdrop Guide: How to get a second airdrop?

    Spin ($SPIN) Token Airdrop Guide: How to get a second airdrop?

    Spin is a decentralized crypto trading platform built on NEAR Protocol. It offers users a secure, fast, transparent, and cost-effective way to trade in digital assets. Their user experience is designed to be competitive with centralized exchanges, while still providing the benefits of decentralization. Spin has already completed its first airdrop in December 2022 and was a huge success. Don’t worry if you missed out on their first airdrop because Spin is now in the final countdown for its second (bigger) airdrop, and a snapshot will be taken soon. Here’s our guide on how you can get the second Spin token airdrop.

    Spin ($SPIN) Airdrop Step-by-step Guide

     Spin has successfully completed its first airdrop in December 2022. Here’s how to get the second $SPIN token airdrop:

    1. Use Spin mainnet.
    2. Participate in the Spin community.
    3. Own Spin NFTs.

    See below for more details.

    What is Spin?

    Spin is a decentralized trading platform built on NEAR Protocol. It provides users with a range of products and services designed to meet the needs of both novice and experienced traders, DeFi investors, and those seeking passive income. Spin combines the best of CeFi and DeFi to create an advanced 360° trading platform that offers a user experience comparable to that of a centralized exchange, without compromising on security, speed, transparency, or trading costs. Their features include spot trading, instant swaps, and perpetual features. They will also be launching their Automated Investment Products (AIPs) soon.

    What is the Spin token?

    Spin has a native token known as $SPIN and is a utility and governance token. Utilities of the $SPIN token include:

    • Staking $SPIN can entitle you to 50% of the platform’s fees.
    • Trading actively on Spin can get you $SPIN token incentives as a reward.
    • Market makers receive $SPIN according to the amount of liquidity they provide, the spreads, and their uptime.
    • Vault users can receive rewards for depositing in Vaults (e.g. options premiums) and $SPIN tokens.

    $SPIN has a total token supply of 1 billion tokens, of which 2.0% of the total token supply (i.e. 20 million $SPIN) will be allocated towards airdrops. Of this, 0.5% i.e. 5 million $SPIN have already been distributed in their first airdrop. So the second larger is going to be 3 times the size of the first!

    How to receive $SPIN airdrop?

    Spin has already done a first airdrop in December 2022. During this airdrop, 0.5% of the total token supply (i.e. 5 million $SPIN), were allocated to the Early Adopters’ Airdrop.

    Spin confirmed they will have a final $SPIN token airdrop for not-so-early users before their token launch, and which activities will qualify. 1.5% of the total $SPIN token supply (i.e. 15 million $SPIN), will be distributed in this airdrop. But, the vesting period will be stricter and longer. Here’s how to get the second $SPIN token airdrop:

    1. Use Spin mainnet.
    2. Participate in the Spin community.
    3. Own Spin NFTs.

    Use Spin mainnet

    Spin’s mainnet has already been launched and all activities on it will count towards the second airdrop. Their protocol offers spot, perpetuals trading, and decentralized option vaults (DOV). To use Spin’s mainnet, go to their website and click “Trade on Spin”. Then, connect your wallet. You can then trade on their perpetual markets, spot markets and swaps. They also have a “Strategies” feature which allows users to choose a strategy to deposit funds. These Strategies will then start to generate income from option premiums. This is by running a weekly automated covered call strategy. Note however that this is Spin’s mainnet, so you will be using your own funds to trade.

    Participate in the Spin community

    Be an active participant in the Spin community by following their Twitter, and joining their Discord and Telegram. You can also go to Spin’s Crew3 questboard to complete their quests. However, this is only available for those who have the Spinosaur role on Discord.

    Own Spin NFTs

    Spin has released its own set of Freaky Elves NFTs. Owning a Freaky Elf NFT gives you the following perks:

    • Guaranteed and priority access to the SPIN IDO (Initial DEX Offering).
    • Access to premium product features on Spin. Such as fee discounts, early access to alpha features, special avatars, etc.
    • Get special Discord roles and private chat access with other NFT holders.

    All Freaky Elf NFTs have been minted. However, you can buy them from NFT marketplaces such as Para.

    How to claim Spin token airdrop?

    As mentioned, Spin has already done a first token airdrop where 0.5% of the total $SPIN supply (i.e. 5 million $SPIN) was airdropped to users. These airdropped $SPIN tokens are required to be locked up for 3 months after the public token sale. To claim your first Spin token airdrop, go to their Airdrop Page and connect your wallet.

    Spin 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: Spin has done a successful airdrop before and confirmed they will do a second one soon.

    Airdropped Token Allocation: 1.5% of the token supply (i.e. 15 million $SPIN), will be distributed in this airdrop.

    Airdrop Difficulty: Participating in this airdrop is going to be difficult. Users will have to be active on the Spin mainnet, and although they have different products to choose from (e.g. spot or perpetual trading), it does require users to use their own funds. Spin has also confirmed that holding its Freaky Elves NFT may entitle you to airdrops, but these have all been minted already. So you will need to buy them from NFT marketplaces.

    Token Utility: $SPIN and is a utility and governance token. $SPIN is also distributed as a reward for various activities on the protocol.

    Token Lockup: Those who received the first $SPIN airdrop are locked up for 3 months after the public token sale. The team has said that the lockup for the second $SPIN token airdrop will be “stricter and longer”, but it is unknown how long it will actually be.

  • Quasar ($QSR) Token Airdrop Guide: LIVE NOW!

    Quasar ($QSR) Token Airdrop Guide: LIVE NOW!

    Quasar is set to launch its mainnet on 23rd March 2023. Its $QSR token launch is confirmed and users of the current testnet can qualify for the airdrop. In this article, we will explain what Quasar is and what you can do to position for the airdrop.

    Quasar ($QSR) Airdrop Step-by-step Guide

    Here’s how to receive a potential Quasar ($QSR) token airdrop:

    1. Connect Keplr Wallet to Quasar Testnet
    2. Claim Testnet Tokens from Faucet
    3. Bond Testnet Tokens to the Orion Vault

    See below for more details

    What is Quasar?

    Quasar is a specialized capital management blockchain within the Cosmos ecosystem, set to launch its first product: an IBC-integrated, multi-vault strategic investment platform. This development fills a gap in the Cosmos ecosystem, which currently lacks a vault protocol. By utilizing Quasar, users can access yields from every IBC-compatible blockchain.

    With Quasar, liquidity providers (LPs) can select a vault for depositing their tokens via single-sided asset staking, receiving enhanced yield returns compared to depositing LP tokens in traditional liquidity pools. Each Quasar vault embodies a distinct strategy executed through an automated workflow. Vaults will cover various services, such as generating yields and offering collateralized loans, while also extending their focus to other ecosystems and blockchain networks.

    Project Funding

    In February 2023, Quasar successfully raised $6 million in a seed funding round led by prominent investment firms Polychain Capital and Blockchain Capital, with participation from some of the top builders and investors in the Cosmos ecosystem such as Figment, Lightshift Capital, Galileo, Binary, HashCIB, Sunny Aggarwal of Osmosis and Evra, the founding team behind Evmos.

    What is the Quasar ($QSR) token?

    Yes, Quasar confirmed in its document that they are launching the $QSR native token for the Quasar chain. It will be used for proof-of-stake security via Tendermint Consensus Algorithm. Additionally, $QSR enables full self-governance, granting the community decentralized autonomous organization (DAO) authority to shape the future direction of vault strategies and the treasury. Transaction fees on Quasar will also be paid in $QSR.

    How to Receive $QSR Airdrop?

    Quasar has hinted in their Discord channel that they may be doing an airdrop. In particular, the airdrop will reward testnet participants. Here’s how to receive a potential $QSR airdrop:

    Interact with the Quasar Public Testnet to be eligible for the $QSR airdrop in the future. Here’s a step-by-step guide:

    1. Connect Keplr Wallet to Quasar Testnet

      Go to testnet.quasar.fi and connect your Keplr wallet. Switch the network to Quasar Testnet.

    2. Claim Testnet Tokens from Faucet

      You can claim $QSR, $OSMO, and $AYY test tokens at stakely.io/en/faucet/quasar-testnet.

    3. Bond Testnet Tokens to the Orion Vault

      Once you have your test tokens, click on “Explore Vault”. Then, bond your assets and approve the deposit.

      This action locks your tokens within the Vault, and you’ll receive proportional shares as CW-20 tokens unique to that vault. Once your assets reach the Osmosis Testnet chain, they will be automatically distributed into yield-generating AMM pools. You can monitor the progress of the liquidity provider strategy through the vault data dashboard.

    4. Submit Bug Report

      If you found any bug, submit your wallet address at the Quasar Testnet Form. They might send you some $ATOM if the bug report is new to them.

    5. Become a Validator on Questnet

      You can also join the Quasar Testnet as a validator if you already have Quasar binary running and your node is fully synced. Visit their guide for more details.

    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: Quasar confirmed it will airdrop $QSR to testnet users.

    Airdropped Token Allocation: They have not disclosed their tokenomics yet.

    Airdrop Difficulty: The tasks are very easy to complete. Simply connect your Keplr wallet and bond your testnet tokens to the Orion Vault.

    Token Utility: $QSR will be utilized for proof-of-stake security through the Tendermint Consensus Algorithm while enabling full self-governance, allowing the community DAO authority to steer vault strategies and treasury management.

    Token Lockup: TBD

  • Thala Labs ($THL) Token Airdrop Guide: CONFIRMED!

    Thala Labs ($THL) Token Airdrop Guide: CONFIRMED!

    Thala Labs is a decentralized finance (DeFi) protocol that is building a yield-bearing stablecoin and a liquidity provisioning layer on Aptos. Thala is currently in testnet phase, and will eventually release its $THL token and airdrop. In this article, we provide the ultimate Thala Labs ($THL) token airdrop guide so you can be in the best position to maximize any potential airdrop.

    Thala Labs ($THL) Airdrop Step-by-step Guide

    Here’s how to receive a potential Thala Labs ($THL) token airdrop:

    1. Go to Thala and connect your wallet.
    2. Get testnet APT tokens.
    3. Create a vault
    4. Deposit $MOD to the stability pool
    5. Redeem $MOD for $APT
    6. Add to liquidity pools
    7. Submit bug reports
    8. Collect an exclusive Thala NFT

    See below for more details

    What is Thala Labs?

    Thala is a decentralized finance (DeFi) protocol that operates on the Aptos blockchain. In its most recent funding round, Thala raised US$6 million in a seed round co-led by Shima Capital, White Star Capital and Parafi Capital. Thala offers two main products: Move Dollar and Thala Swap.

    Move Dollar (MOD) is a decentralized, censorship-resistant stablecoin designed to facilitate transactions, interactions, and other activities within the Aptos DeFi ecosystem. It is backed by a basket of on-chain assets, including liquid-staked derivatives, liquidity pool tokens, deposit receipt tokens, and RWAs. Hence it provides users with a store of value, a medium of exchange, and a unit of account. MOD also offers users the opportunity to earn yield on their investments.

    Meanwhile, Thala Swap is an automated market maker that enables users to create dynamic pool weightings. This protocol supports a variety of pools, such as weighted pools, stable pools, and liquidity bootstrapping pools. Thala Swap unlocks additional use cases for MOD tokens and provides deep, long-term liquidity. Additionally, Thala’s launchpad provides a secure and equitable way of distributing tokens for projects and market participants.

    What is the Thala Labs ($THL) token?

    THL is the token of Thala Labs- it is a governance token that is native to Aptos. The THL token allows holders to vote on proposals and make decisions about the future of the protocol. Through Thala Improvement Proposals (TIPs), token holders can initiate proposals, vote on issues, and suggest changes to protocol parameters. This allows holders to have a say in the direction of the protocol and transition it to a DAO model.

    Will there be a Thala Labs ($THL) token airdrop?

    According to Thala’s Documentation, there will be a total supply of 100 million THL tokens. 35 million $THL (35%) is allocated to incentivize people to use the protocol and Thala’s other future products. It is worth noting that in their tokenomics, they specifically mention airdrops in their $THL emissions schedule and total circulating supply graphs. From these graphs, we can see that around 8.3 million $THL will be distributed via airdrops and that this will all be distributed within the first year of their Token Generation Event (TGE).

    $THL emissions schedule and total circulating supply
    $THL emissions schedule and total circulating supply (Image Source: Thala Documentation)

    With the amount of funding that the project has raised, and the success of the Aptos airdrop in the past, it is highly likely that Thala will also do an airdrop in order to attract even more users onto their platform.

    How to get a potential Thala Labs ($THL) token airdrop?

    Thala Labs has recently launched Thala Swap on testnet for the general public to try out. It is hoped that using Thala Swap would make you eligible for any potential airdrop. Here’s how to get a potential Thala Labs ($THL) token airdrop:

    1. Go to Thala and connect your wallet.
    2. Get testnet APT tokens.
    3. Create a vault
    4. Deposit $MOD to the stability pool
    5. Redeem $MOD for $APT
    6. Add to liquidity pools
    7. Submit bug reports
    8. Collect an exclusive Thala NFT

    Connect your wallet to Thala

    Go to Thala and connect your wallet. Thala currently supports Martian, Pontem and Petra wallets. Note you will need to change to Aptos Testnet to connect to the site.

    Get testnet APT tokens

    Get testnet APT tokens on Thala by clicking “Faucet”, and “Collect to claim”. Then, choose your wallet and then click “approve”. You can also get APT directly from your wallet (we used Martian wallet). To do this, click “Airdrop”. Then, connect your wallet to Apotos Labs, verify the transactions on your Martian wallet, and click “Activate faucet”. You will then receive 1 APT in your wallet, but you can click “Activate faucet” multiple times to get more APT tokens.

    Create a vault

    Go to the “Vaults” tab and click “Create vault”. To create a vault, you will need to deposit $APT tokens and borrow $MOD. Note you will need to borrow at least 500 $MOD, meaning that you must deposit at least 70 $APT.

    Deposit $MOD to the stability pool

    Click on the “Stability pool” tab, choose the amount of $MOD you wish to deposit, and click “Deposit”.

    Redeem $MOD for $APT

    Click on the “Redeem” tab, choose the amount of $MOD you want to redeem, and click “Redeem”. Note you will need to pay a redemption fee.

    Add to liquidity pools

    Click on the “Liquidity pools” tab, choose which pool you wish to add liquidity to, then click “deposit”. Select the number of tokens you wish to add then click “Add liquidity”.

    Submit bug reports

    If you find a bug on the Thala platform, report it! Developers reward this! To do this, go on Thala’s Discord channel and submit a report there.

    Collect an exclusive Thala NFT

    To collect an exclusive Thala NFT, go to Thala’s Galxe campaign page and complete the 10 tasks to receive an OAT NFT. Tasks include liking and retweeting Thala’s tweets, using ThalaSwap, and joining their Discord etc.

    Thala Labs ($THL) 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: Thala Labs have confirmed they will have a $THL token and will be doing an airdrop. However, the team has not released details of the future airdrops yet.

    Airdropped Token Allocation: We can see from their documentation that around 8.3 million $THL tokens will be allocated towards airdrops. Also, any airdrops will be within the first year of their TGE.

    Airdrop Difficulty: As they are still in testnet stage, interacting with the protocol is free. So if they do an airdrop to reward early testers of the platform, you could potentially get an airdrop for free!

    Token Utility: The $THL token will be used for governance.

    Token Lockup: There are no details on the airdropped token lockup yet.