Fuel Network Token Airdrop Guide
Fuel Network is another popular modular blockchain project similar to Celestia. They are currently in Phase 2 of their points program, which means there could be an airdrop soon! In this article, we explain what Fuel is and how to position yourself for a token airdrop.
Check out our step-by-step guide!
Fuel Network Airdrop Step-by-Step Guide
Here’s a step-by-step guide on how to win a potential Fuel Network token airdrop:
- Fuel Wallet Installation
- Testnet token claim
- Connect with your fuel wallet
- Interacting with SwaySwap
- Apply for Thunder NFT Private Beta
- Interact with other DApps in the ecosystem
- Complete guild tasks and get a Discord role
- Leave us feedback on Discord
See below for more details.
What is fuel?
Fuel is focused on building the fastest execution layer for modular blockchains. It is essentially a verifiable computation system designed for modular blockchain stacks. The system is based on fraud- or proven-validation blockchains or other computational systems that leverage modular blockchains for data accessibility.
There are ongoing changes occurring in the architecture of layer 1 (L1) blockchains. We are moving from a monolithic design where consensus, data availability, and execution are interdependent, to a modular future where execution is decoupled from data availability and consensus. This separation allows for specialization of the base layer, significantly increasing bandwidth capacity. Therefore, Fuel was specifically developed to take advantage of this additional bandwidth to provide high security and flexible throughput.
Who is the Fuel team?
Fuel was developed by Fuel Labs, co-founded by: john adler and Alex Hansen. Adler is also the co-founder of Celestia, another popular modular blockchain project. In fact, the two projects are complementary in technical terms. However, Fuel is positioned as a modular execution layer, while Celestia is optimized for data availability and ordering. This makes Fuel one of the most anticipated projects.
In September 2022, Fuel Labs successfully raised $80 million in a funding round led by Blockchain Capital and Stratos Technologies. Other backers also include some of the industry’s largest investors such as CoinFund, Bain Capital Crypto, and TRGC.
Does Fuel have tokens?
To date, Fuel has not confirmed a token launch. However, with over $80 million raised and Celestia launching its token, it is very likely that Fuel will launch its token ahead of the mainnet launch. Currently, Fuel has a points program where you can earn off-chain points by completing certain on-chain tasks. These points can potentially make you eligible for future network rewards (airdrops).
How to Receive Potential Fuel Token Airdrops
Time needed: 45 minutes
Your best chance to receive fuel airdrops is by interacting with the testnet. Fuel recently launched its Beta-3 testnet, and interacting with the protocol is important to have a chance of being included in the snapshot. Below is a step-by-step guide on how to position yourself for an airdrop.
- Fuel Wallet Installation
To interact with the testnet, you will need to install Fuel Labs Wallet. Go to wallet.fuel.network/docs/install and download the zip file for your wallet. Once done, go to the Chrome extension and toggle ‘Developer Mode’ in the top right corner of the screen. Now drag the downloaded zip file to the extension page to start installing the wallet.
- Testnet token claim
After setting up your wallet, go to your wallet and click the “Faucet” button. You can also try it here or here. Enter your wallet address and you will immediately receive ETH for testing.
- Connect with your fuel wallet
Now you need to request a connection with your wallet to authorize the application to perform other actions. Go to wallet.fuel.network/docs/how-to-use and scroll down to the “Connection Request” section to connect. Then click “Check if it works”. Then try each tool on the page. It’s really simple, just scroll and follow each step.
- Interacting with SwaySwap
SwaySwap is a decentralized exchange built on the Fuel Test Network and is very likely to be included in the snapshot. Go to fuellabs.github.io/swayswap and run the app. Apply for testnet tokens at https://app.swaylend.com/#/faucet. Here you can exchange tokens, provide liquidity to the protocol, and remove some liquidity. The higher the frequency, the higher your chances of receiving an airdrop.
- Apply for Thunder NFT Private Beta
To sign up for the Thunder NFT private beta, go to the sign up page and enter your Twitter handle.
- Interact with other DApps in the ecosystem
There are many other projects based on Fuel. Below is an updated list of all protocols currently running on Fuel Network. Additionally, most of these DApps do not yet have tokens. So if you test and interact with them, you might even qualify for your own token airdrop!
- Complete guild tasks and get a Discord role
Link your wallet to your Fuel’s Guild page. Complete social tasks to earn various Discord roles.
- Leave us feedback on Discord
Please leave feedback on Fuel Wallet by going to the “Wallet Feedback” channel on Discord.
- Create and publish your own FuelArt NFT
Go to https://fuelart.io/. Then create and issue your own NFT.
- Participating in the Pre Deposit Program (Step 1)
Deposit your eligible tokens into Fuel’s pre-deposit contract on the Ethereum network. However, this program has now ended.
- Move your funds to Fuel L2.
Transfer your pre-deposit funds to Fuel L2 at https://app.fuel.network/earn-points/deposit/. Alternatively, connect your funds to Fuel L2 using the bridge at https://app.fuel.network/bridge.
- Interact with dApps when igniting fuel
Go to https://app.fuel.network/ecosystem to interact with Fuel ecosystem dApps.
- Earn points
There are three ways to earn points in Stage 2 of the Fuel Points Program: First, activity points are earned by interacting with eligible apps on the Fuel Mainnet. For example, you can become a liquidity provider or take out a loan on the platform. Some activities also offer point multipliers. see here Check out the latest details. Second, spending on gas deals earns you 5 gas points for every dollar you spend on gas. Finally, when you actively deploy funds, you can earn passive points, at a minimum of 1 point per day per dollar.
Airdrop Review
There are several factors to consider when reviewing airdrops. First, there is a possibility that the project will conduct an airdrop in the first place. We will then look at how many tokens the project will allocate to the airdrop campaign and the difficulty of participating in the airdrop. It is also important to look at the utility of the token to ensure there is a real use and purpose for participating in the airdrop in the first place. Lastly, a factor to consider when reviewing an airdrop is whether a lock-up period applies to the airdropped tokens.
Airdrop possibilities: Fuel has yet to confirm a token launch, let alone an airdrop. However, considering the amount raised and the project sharing the same co-founder as Celestia, there is a good chance it will hold the token and receive an airdrop.
Airdropped token allocation: TBC
Airdrop Difficulty: The steps are relatively easy, as all you need to do is install the wallet and interact with SwaySwap. We also recommend working with other DApps to increase your chances of receiving airdrops.
Token Utility: TBC
Token Lockup: TBC
