Ethereum has the power to transform the Internet, but users and developers are hurt by its high gas costs and slow transaction speeds. That ultimately jeopardizes Ethereum's position as the Web3 foundation. There are numerous initiatives underway to increase Ethereum's scalability, most notably by utilizing layer 2 chains. One such project developed by StarkWare is StarkNet.
Arbitrum's massive airdrop has recently raised awareness of Layers 2. The airdrop capabilities of other Layer 2 ventures, such StarkNet, have come under scrutiny from users.
We'll go over the apps and bridges to use in this step-by-step manual so that you can earn the most STRK tokens once the airdrop is live.
Describe Starknet
An Ethereum layer 2 solution called StarkNet resembles a ZK-Rollup. Any dApp may run, function, and extend without end thanks to StarkNet's dependence on the STARK system, StarkWare's technological advancement, without endangering Ethereum's ability to aggregate and defend.
The Cairo programming language was used to create the project contract and operating system, allowing for the deployment and scalability of dApps or smart contracts independent of business logic.
Why Does Starknet Have Possibility for Airdrops?
This project is worth $8 billion and has received hundreds of millions of dollars in finance through funding rounds.
When studying an airdrop, several factors need to be taken into account. Then, take into account the possibility that the project will never really carry out an airdrop. The project's token distribution for airdrop campaigns and the challenge associated with signing up for their airdrop are then reviewed.
It is also crucial to take into account the token's utility to ensure that there is a real benefit and reason for taking part in the airdrop in the first place. Finally, while evaluating an airdrop, check to see if the tokens are subject to a lockup period.
Likelihood of Airdrop: An airdrop is likely because the StarkNet Foundation is actively working on the token distribution technique.
10 billion STRK tokens are in circulation, of which 17.7% are allocated to investors, 32.9% to core contributors, and 50% to the StarkNet Foundation.
Airdrop difficulty: The snapshot window is closing and the mainnet is about to launch. Make the most of the mainnet, but keep in mind that there may be another snapshot after the mainnet launches.
Token Utility: The STRK token serves three main purposes: staking to take part in StarkNet's governance and voting processes, as well as paying transaction fees.
Token Lockup: For a period of four years, tokens given to employees, shareholders, and independent software developers will be frozen.
Requirements To Take Part in Airdrop
To participate in the StarkNet airdrop, you must have an Ethereum address. Next, connect to multiple network apps on your Desktop or mobile device using the TrustWallet or MetaMask programs.
You must follow the steps listed below in order to be eligible for the most STRK tokens. Depending on gas prices, we anticipate that using all of these apps will cost between $100 and $200 in order to receive the maximum number of the airdrop tokens, which may be more than $10,000.
Steps for Receiving Airdrop
Employ Argent X Wallet
The Alpha Mainnet is not currently supported by MetaMask, hence it cannot communicate with the StarkNet Layer 2 network. StarkNet can only be accessed through the Argent X wallet. With more than 400,000 users, Argent X, the first wallet on StarkNet, is widely used as the main ecosystem wallet. Notable investors including Paragim, Index Ventures, and StarkWare Labs back it. There are Argent X browser add-ons for both Mozilla Firefox and Google Chrome. After that, you can use Argent X to exchange, discover new NFTs, and make and receive payments.
StarkNet Bridge
A bridge from the Ethereum mainnet to the network is one of the first anticipated requirements for the StarkNet airdrop. To accomplish this, we suggest using StarkGate, the official bridge created and set up by the StarkWare team. After the airdrop is started, all you need to do is link your wallet and send ETH tokens from the mainnet to StarkNet to start receiving tokens. Little amounts should be adequate as long as you use the bridge frequently.
You can also use another bridge, such Orbiter Finance, to withdraw money from StarkNet. Two bridging platforms are used as a safety measure in case the airdrop accidentally covers one of them. Moreover, using both bridges could increase the multiplier for the StarkNet airdrop.
On 10KSwap Transact
Considering that you have already bridged tokens to StarkNet, we advise using a native DEX like 10KSwap. You may transfer tokens on the StarkNet network securely thanks to this fork of AMM and UniSwap. Simply connect your wallet and select the two tokens you want to trade.
To be included in the snapshot, it is advised that tokens be traded often and that pools be provided with liquidity. Your odds of receiving the airdrop are increased as a result.
Participate in zkLend
ZkLend is the native money market of the StarkNet environment. Consider making deposits and loans to earn returns in order to be eligible for the airdrop, just like you would in a DeFi program like AAVE or Compound. Moreover, zkLend will do its own airdrop soon.
Invest with Brine Finance
Brine Finance is yet another decentralized exchange on StarkNet that operates as a regular order book exchange as opposed to typical AMMs. Once more, the airdrop method is straightforward: link your MetaMask Wallet and complete a few transactions to make sure you meet this eligibility requirement.
Create an NFT using MintSquare
An NFT system that works with both zkSync and StarkNet is called MintSquare. By supplying the supporting files for any image, you can build an NFT. Don't forget to switch the network from zkSync to StarkNet. Provide a name for it and some details, then click mint. You currently have a brand-new NFT on StarkNet.
Mint Domain
To create the domain using Starknet.id, follow these steps:
- To input the desired domain name, go to Domains.
- Enter a new domain if the one you want is taken; otherwise, if it's available, it can be created.
- Choose the duration of time you want to keep the Domain (the larger the number of years, the higher the price)
- Choose "Register from L2" to specify a domain name for your StarkNet wallet.
Tips for Doing Airdrop
Some of you will use cheats, bots to trade for volume, different wallets, and other techniques when you follow this instruction on how to airdrop Starknet. Be careful because the project will be closely scrutinized in the future. More precisely, the trick-using wallets will be filtered and removed, costing us the time and effort.
