Ethereum has the power to revolutionize the Internet, but its high gas costs and slow transaction speed put users and developers at a disadvantage. Long term, it poses an existential challenge to Ethereum’s position as the Web3 foundation. There are several initiatives underway to increase Ethereum’s scalability, most frequently via utilizing layer 2 chains. One such initiative developed by StarkWare is StarkNet.
There is a high chances of StarkNet airdropping its native token. And this step by step guide will you learn how you can get Starknet Airdrop. But before that, let us learn about Starkware and Starknet.
What is StarkWare?
2018 saw the founding of StarkWare by the minds behind ZK-STARK and Zcash. Its two technologies, StarkEx and StarkNet, are meant to increase the scalability and privacy of blockchains. A cryptographic proof method called ZK-STARK enables one party to show another that it is in possession of certain information without releasing it.
What is StarkNet?
Decentralized layer 2 networks StarkNet functions as a ZK-rollup. A layer 2 chain that employs zero-knowledge technology, such as ZK-STARK, is known as a ZK-rollup. StarkNet sends, verifies, and bundles tens of thousands of transactions off-chain, saving gas and greatly enhancing system scalability. Before altering the balances of all wallets involved in the batch, Ethereum may examine the ZK-STARK proof it generated for the batch in order to confirm that the batch of transactions is genuine. By using this method, Ethereum avoids having to verify each transaction’s legitimacy on the blockchain, which would require a significant amount of computing power, raise gas prices, and cause a congested network.
How to get StarkNet Airdrop? (Ultimate Guide)
StarkWare announced the launch of the native ERC-20 StarkNet Token on July 13th, 2022.
The protocol will be able to mint more in the future depending on community demand once the initial 10 billion are distributed.
The launch of StarkNet’s own token has been officially announced, and 9% of the total supply has been given to users and programmers who have created dApps using StarkNet.
This is a comprehensive manual on how to be eligible for Starknet potential airdrop.
We will interact with both Mainnet and Testnet and hope we qualify for Starknet Airdrop.
First things first:
- If you are first time interacting on Starknet blockchain, you will to do a few things (one time only).
Create an account on Argent X wallet. If you don’t already have one, add the extension to your chrome using this site: Argent X
If you already have a wallet on Argent you can simply restore it as well.
Must: Copy the phrase words and keep them safely. You will be able to restore your account with the help of these phrase key.
2. Open extension and click on deploy wallet. Give it a couple of minutes to finish deploying and you will see that it connects to the Goerli Testnet. While the wallet is deployed, Starkscan testnet will open in a new window. You will be able to see the transaction status here.
- Go to the site mentioned below and accept cookies, this site should appear – Click here.
This is the Starknet mainnet. If you would like to interact with Starknet Testnet, go to this link. On both the network, mainnet and testnet, you will need Ethereum.
On mainnet, you need small amount of real ETH to move token from Ethereum network to Starknet network.
On Goerli testnet, you will need Ethereum faucet.
You can request Ethereum from Goerli faucet here https://faucet.goerli.starknet.io/
My advise would be to interact with both networks- Testnet and Mainnet.
Interacting on Starknet Mainnet
2. Connect wallet then select Metamask.
3. If you do not have Metamask wallet, it will take you to a different page to set up your account. Follow the process, and create a wallet. Make sure you set up with a strong password. Remember the password. Store the phrase key (12 words) safely.
4. If you already have a Metamask installed, it will as ask you to connect.
5. Open the chrome extension and click next to connect.
If you see any error popping up – Please select Ethereum Mainnet in your wallet, make sure you are already on the mainnet of Ethereum, Starknet and Argent Wallet.
Upon successful connection, you should see something like:
6. You may choose a deposit amount below and view your associated Metamask and Argent wallet in the top right corner. Keep in mind that you will need to pay gas fees while doing this transaction.
Gas fee needed for the transaction I did: 3.5USD worth of Ethereum.
7. Then simply confirm in Metamask, following which you will be able to view your balance on Starknet in a few minutes or hours. For me, it took 2 hours 🙁
8. You may send back some ETH from Starknet blockchain back to the Ethereum mainnet.
Congratulations! You have successfully used Starknet bridge and performed transaction.
Interacting with the Starknet Testnet
Now let us interact with the Testnet
- Sign into Argent and interact with testnet.
- Visit Play Oasis at https://testnet.playoasis.xyz/status for more information.
- Make a few NFT bids using your test tokens.
On the testnet, you may also quickly mint your own NFT.
3 Dapps You Can interact with on Starknet Mainnet: Increase your Airdrop Chances
Decentralised applications are one of the best ways in which you can efficiently interact with the Starknet Mainnet. The top three dApps from Starknet Ecosystem in our opinion are as follows:
10K Swap
10K Swap is a great Automated market maker that is built on the StarkNet Mainnet and develops along with the growth of Ethereum. They have open source contracts in Cairo and is the first AMM to be established on StarkNet. They work with a Cairo-VM to provide users and developers with an amplified TPS and an efficient computational cost. The trading speeds are very fast whilst also employing the benefits of the security provided by a broad consensus. They aim to spread the word about Dapp development and inspire the creators to make the most of Layer 2 networks and the DeFi ecosystem. 10K Swap right now has a Total Value Locked of 895,386 US dollars. According to the token breakdown, there are 6 main contributors of which the maximum is obviously ETH, followed by USDC.
mySwap
mySwap is yet another Automated market maker deployed on the StarkNet Mainnet. It is an amazing platform that has shown a lot of growth recently. In addition to an impressive Total Value Locked of 700,299 U.S. dollars, the protocol also has had a good yield generation. On March 14th, their $ETH- $USDT pool generated a yield of 59.14 per cent, $DAI – $ETH rendered a yield of 19.41 per cent and finally, their $USDC – $USDT pools spawned a yield of 18.79%. They claim to “ be the protocol with the most active users on #StarkNet, with over 8100 active accounts.”
JediSwap
JediSwap is zero knowledge rollup based protocol that works on community driven principles. It allows users to perform swaps and gain liquodoty while also levying gas fees of near zero amount. The platform is decentralised and uses the security benefits provided by Ethereum. Powered by StarkNet, JediSwap is a composable, gasless, permissionless, and fast protocol that has more that 250 contributors. The current Total Value locked of the platform is 577,680 U.S. dollars.
Final Remarks
For an open network to be created, one must be willing to face the unknown. Inventors of the Internet, Bitcoin, and Ethereum thought their creations may revolutionise the world but had no clue how. We anticipate that Ethereum and the decentralised web will gain from StarkNet’s capacity to scale blockchains. We don’t know what will be constructed. But we think StarkNet gives a creative community a tremendous technical potential, and we want to see that community use it in a variety of ways, many of which are as-yet unimagined.
Risk of StarkNet Airdrop
Airdrops can make you wealthy, however you have to take all precautions. There are many Starknet Airdrop Scams which you absolutely need to avoid. Do not click on fake Starknet website. Always refer to official site for the right links.
Also, it is better to interact with dApps from a wallet which has very less amount in it. Interacting from your main wallet can cause you a major loss, incase any dApp gets compromised.
Also remember, this is a probable Starknet Airdrop, and not confirmed yet.
If you are interested in learning about more potential crypto airdrops, check this article.
