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    Guide to Participating in Airdrops for 5 Projects within the Bitcoin Ecosystem

    ByElly Nguyen04/05/2024
    Bitcoin stands as a flourishing ecosystem, marked by its Total Value Locked (TVL) and the proliferation of projects within it. Presented below is a comprehensive overview of 5 promising projects that users should not disregard when seeking airdrops within the Bitcoin ecosystem.  

    1. BounceBit

    BounceBit is as a Restaking platform built upon Bitcoin infrastructure, yet it incorporates compatibility with Ethereum Virtual Machine (EVM). This amalgamation blends the robust security framework of the Bitcoin network with the versatile functionalities offered by EVM.

    1.1. Key Characteristics

    BounceBit has successfully garnered a funding of $6 million from prominent backers, including Binance, OKX, and several other investors. With a Total Value Locked (TVL) of $1 billion, BounceBit emerges as a pioneering force within its niche since its inception.

    1.2. Airdrop Acquisition Strategy on BounceBit

    Step 1: Access the website http://bouncebit.io

    Step 2: Establish a connection between the wallet and the platform.

    Step 3: Input the provided invite code, which can be obtained from the project's Discord channel.

    Step 4: Select the Binance Smart Chain (BSC) network and deposit the available tokens such as BTCB and FDUSD.

    Airdrop Acquisition Strategy on BounceBit
    Airdrop Acquisition Strategy on BounceBit

    For detailed guidelines, consult the comprehensive instructions provided on the platform.

    2. BOB

    BOB is a layer 2 platform built upon the Bitcoin network with compatibility for Ethereum Virtual Machine (EVM).

    What is BOB?
    What is BOB?

    2.1. Key Characteristics

    The project has secured $10 million in funding from Coinbase and various other investors. BOB has achieved a Total Value Locked (TVL) of $270 million, positioning itself with minimal competition in its sector.

    2.2. Airdrop Acquisition Strategy on BOB

    Step 1: Visit http://fusion.gobob.xyz

    Step 2: Connect the wallet and input the invite code.

    Step 3: Deposit assets into BOB through the BOB Bridge. Upon depositing funds into the platform, users can immediately begin accumulating points.

    Step 4: Access http://app.galxe.com/quest/ben4M29wz55HfR8viR6Q6C/GCZ9zthpD8 and complete the designated social tasks.

    3. VelarBTC

    VelarBTC stands as a decentralized finance (DeFi) platform operating on the Bitcoin network, enabling users to lock up their assets and generate returns from the platform and associated projects.

    3.1. Key Features

    The project has successfully secured $3.5 million in funding, valuing it at $200 million. VELAR tokens are set to be allocated to users through an airdrop mechanism. Velar has raised $3.5 million to establish the inaugural derivative decentralized exchange (DEX) platform on the Bitcoin network.

    3.2. VelarBTC Airdrop Acquisition Strategy

    Step 1: Download the Leather wallet.

    • Navigate to http://leather.io
    • Download the Google Broswer version of the wallet.
    • Deposit $STX tokens into the wallet (currently obtainable from centralized exchanges like Binance, OKX, Bybit).
    VelarBTC Airdrop Acquisition Strategy
    VelarBTC Airdrop Acquisition Strategy

    Step 2: Engage with the Velar platform.

    • Access http://app.velar.co/swap and connect your wallet.
    • Exchange STX <> VELAR tokens.
    • Provide liquidity and stake LP-Tokens to earn points on the platform.

    4. Stroom Network Overview

    Stroom Network functions as a liquid-staking platform designed to enable users to earn routing fees within the Lightning network.

    4.1. Key Features

    This project has garnered $3.5 million in funding from prominent venture capital entities. It has pledged an airdrop initiative for early adopters. The airdrop participation process requires no initial investment, thus minimizing users' risk exposure.

    Stroom Network
    Stroom Network

    4.2. Airdrop Acquisition Strategy for Stroom Network

    Step 1: Visit the Stroom Network portal at http://app.galxe.com/Stroom.

    Step 2: Complete all designated tasks available on the Galxe platform.

    Note: The platform intends to roll out additional tasks in the future, offering users more opportunities to accumulate points and potentially receive rewards.

    5. Solv Protocol Introduction

    Solv Protocol represents an NFT trading platform that empowers users to create, exchange, and manage NFT vouchers operating on the Bitcoin network.

    5.1. Key Features

    The project has successfully secured $11 million in funding from Binance and other notable investors. It has confirmed plans for an airdrop initiative targeting early participants through a Points accumulation system.

    5.2. Airdrop Acquisition Strategy for Solv Protocol

    Step 1: Access the Solv Protocol Points portal at http://app.solv.finance/points/.

    Step 2: Connect your wallet address and deposit funds into the platform to start accumulating Points.

    Note: Users receive 4XP for every $1 deposited. However, withdrawal of assets is only feasible starting from June 2024, prompting users to consider the potential risks associated with extended capital lockup periods.

    6. Conclusion

    Participating in airdrop campaigns within the Bitcoin ecosystem holds considerable potential. However, some projects may require users to lock up their assets, necessitating careful consideration based on individual risk tolerance. It is advisable to prioritize tasks that involve social engagement and projects that do not require any initial investment.

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    Disclaimer: This article is for informational purposes only, not financial advice. Join the Bigcoinchat chat group to update the latest information about the market.

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    Elly Nguyen

    Elly Nguyen

    Builder at Bigcoin - Learning to share, sharing to learn

    0 / 5 (0binh_chon)

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