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Venus Reward Token Airdrop

Venus Reward Token Airdrop

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About Airdrop

Venus Reward Token Airdrop

Token value:  1,000 VRT to 1 XVS & 1 VENUS NFT per 10 XVS 

Referral: N/A

Max. participants: NA

Binance Exchange

Telegram

Twitter

Medium

https://venus.io/

About:

Venus Reward Token ( VRT)  is a mechanism created to become an additional mining distribution to suppliers and borrowers of Venus Protocol. The goal is to gradually lower XVS inflation rate and also include burning XVS throughout this process. Venus reward token is to make the Venus total supply lower over time to make Governance more secure. In substitution to this, it will create a lucrative APY yield in the protocol. VRT will have a total supply of 30 billion and be distributed to users over the course of 4 years while XVS distribution will double to around 8 years to compliment the reductions. All of this is subject to Governance changes and on-chain proposals.

Venus is airdropping VRT to XVS and vXVS holders. A snapshot will be taken on May 15th, 2021, at block number 7479562. Users are required to hold XVS or vXVS in a private wallet or in a supporting exchange like Binance during the snapshot. VRT distribution will be done at a ratio of 1,000 VRT per 1 XVS. XVS or vXVS holders will also receive limited edition NFTs at a ratio of 1 VENUS NFT per 10 XVS owned or the corresponding amount vXVS in their private wallet. Follow our step guide to receive your Venus Reward Token.

Step-by-step guide:

  1. Hold XVS or vXVS in a private wallet, supporting exchange or Binance Exchange and receive 10% off trading fees
  2. The mininum XVS holding required to be eligible is 0.01 XVS or the corresponding amount of vXVS  in exchange like Binance during the snapshot
  3. The ratio of the airdrop will be 1,000 VRT to 1 XVS. This will also apply to the net amount of XVS you have supplied to the Venus Protocol and hold vXV. The corresponding ratio of 1 XVS = 50 vXVS
  4. All non exchange wallet will receive a limited edition of 1 VENUS NFT per 10 XVS owned (includes net XVS held as vXVS)
  5. The rewards distribution will begin on May 17, 2021, and will end on May 24, 2021

Note:

Relative to Binance Users

  • Deposits and withdrawals for XVS tokens will be tentatively closed at 2021-05-17 03:30 (UTC). The timing will be adjusted according to the network speed.
  • XVS tokens that are pending deposit or withdrawal at the time of snapshot will not count towards your XVS balances. Please ensure you leave sufficient time for deposits and withdrawals to complete prior to the snapshot.
  • The snapshots will include XVS balances in Spot wallets, Margin accounts and DeFi Staking accounts. Undistributed XVS interest payments will not be included.
  • XVS borrowed from Margin, or XVS transferred to Spot wallets from Margin accounts, will not count towards the airdrop threshold.
  • For the trading and listing of VRT on Binance, VRT will go through the same strict listing review process as Binance does for any other coin/token. Supporting this airdrop does not guarantee the listing of VRT. Binance does not guarantee any listings as per its internal policy.
  • Binance will distribute the VRT tokens after the project has completed the VRT token distribution to Binance. We will post a further announcement once the distribution to Binance users is completed.
  • US persons, entities and sanctioned countries are not eligible to receive this airdrop. For more information, please refer to Binance Terms of Use.

Don’t forget to join our Telegram channel and follow us on Twitter to receive new airdrops!

Requirements:

Get Airdrop⚠ Never share your private key with anyone!
⚠ Never spend money to get free tokens!

Don’t forget to join our Telegram channel and follow us on Twitter to receive new airdrops!

Never share your private key with anyone!

Never spend money to get free tokens!

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FAQ


What is a crypto airdrop?
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A crypto airdrop is a distribution of cryptocurrency tokens or coins, usually for free, to a large number of wallet addresses. Airdrops are typically used as a marketing strategy to raise awareness about a new cryptocurrency, reward loyal users, or incentivize people to participate in a platform. By giving away tokens, projects can quickly build a user base and create buzz within the crypto community.

How do I participate in an airdrop listed on your site?
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To participate in an airdrop listed on FreeCoins24.io, follow these steps:

1. Visit our site and browse the list of available airdrops.

2. Click on the airdrop you’re interested in to view detailed instructions.

3. Follow the participation steps, which may include tasks like joining a Telegram group, following social media accounts, or signing up for a newsletter.

4. Submit your wallet address as required to receive the airdrop tokens.

Make sure to complete all the tasks accurately to qualify for the airdrop.

Are all airdrops on your platform free to join?
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Yes, all airdrops listed on FreeCoins24.io are free to join. We ensure that our users can participate without any financial commitments. However, some airdrops may require participants to hold a specific cryptocurrency in their wallets or perform certain actions, like sharing a post on social media.

Can I participate in an airdrop without a cryptocurrency wallet?
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No, you cannot participate in a crypto airdrop without a cryptocurrency wallet. A wallet is necessary to receive the tokens distributed during the airdrop. If you don’t have a wallet yet, you can create one using popular options like MetaMask, Trust Wallet, or MyEtherWallet.

How can I stay updated on upcoming airdrops?
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To stay updated on upcoming airdrops, you can:

1. Subscribe to our newsletter on FreeCoins24.io for regular updates.

2. Follow us on social media platforms like Twitter and Telegram.

3. Bookmark our website and check the airdrops section regularly.

Staying connected with us ensures you won’t miss out on any new opportunities.

What are the risks of participating in airdrops?
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While airdrops are generally safe, there are some risks to be aware of:

1. Scams: Some airdrops may be fraudulent, aiming to steal personal information or funds.
2. Spam: Participating in multiple airdrops may lead to an influx of promotional emails and messages.
3. Phishing: Be cautious of fake websites and links designed to mimic legitimate airdrop campaigns.

Always perform due diligence before participating and never share your private keys.

What should I do if I suspect an airdrop is a scam?
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If you suspect an airdrop is a scam, do the following:

1. Avoid sharing personal information or sending funds.
2. Report the airdrop to FreeCoins24.io if it is listed on our site.
3. Warn others in the crypto community through forums and social media.
4. Double-check the project’s legitimacy by researching the team, reading reviews, and verifying the website’s security.

What is the difference between airdrops, bounties, and ICOs?
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Airdrops: Free distribution of tokens to promote a new cryptocurrency.
Bounties: Rewards given for completing specific tasks, such as bug reporting or social media promotion.
ICOs (Initial Coin Offerings): Fundraising events where investors purchase tokens before they are publicly available.

Each serves different purposes and involves varying levels of participation and investment.

Can I participate in multiple airdrops at the same time?
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Yes, you can participate in multiple airdrops simultaneously. There is no limit to the number of airdrops you can join. Just make sure you can complete all required tasks for each airdrop to qualify for the tokens.

How long does it typically take to receive tokens after an airdrop?
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The time it takes to receive airdrop tokens can vary. Some airdrops distribute tokens immediately after the participation period ends, while others may take weeks or even months. Check the details of each airdrop for specific timelines.

Do I need to pay taxes on airdropped tokens?
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Tax regulations vary by country, but generally, airdropped tokens are considered taxable income. It’s essential to keep records of all airdrop transactions and consult with a tax professional to ensure compliance with local tax laws.

What is a wallet address and why is it needed for airdrops?
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A wallet address is a unique identifier for your cryptocurrency wallet, similar to a bank account number. It is required for airdrops so that the project can send the tokens directly to your wallet. Never share your private keys, only your wallet address.

What is the best way to track the value of airdropped tokens?
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To track the value of airdropped tokens, you can use:

1. Crypto portfolio tracking apps like CoinGecko, CoinMarketCap, or Delta.
2. Cryptocurrency exchanges where the tokens are listed.
3. Blockchain explorers to monitor transactions and balances.

These tools help you keep an eye on your airdropped tokens’ performance and value.

How can I list my airdrop on FreeCoins24.io?
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If you’re a project looking to list your airdrop on FreeCoins24.io, follow these steps:

1. Visit our listing page: Go to https://freecoins24.io/list-airdrop/.
2. Choose a package: Select from our available listing packages that best suit your needs.
3. Fill out the required information: Provide details about your project and airdrop.
4. Complete the purchase: Follow the steps to make the payment.
5. Contact us: If you have any questions or need assistance, email us at contact@freecoins24.io.

By listing your airdrop with us, you’ll gain exposure to our active crypto community and attract potential participants.


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