Venom Testnet Guide: Ultimate Guide on how to use Venom Network Testnet
What is Venom?
Venom is a highly scalable and efficient blockchain solution that is specifically designed to cater to the needs of real-world applications. Its unique architecture and cutting-edge technology enable it to deliver high performance and security, making it an ideal platform for decentralized applications. Venom’s primary objective is to build a blockchain that can function as the main infrastructure for a global ecosystem of Web3 applications, providing ultra-fast transaction speeds and infinite scalability to meet the demands of an ever-expanding user base. With Venom, developers can build their decentralized applications in minutes on an asynchronous blockchain with a global use case application. The Venom Blockchain is built on the Threaded Virtual Machine (TVM), which provides a highly efficient and scalable way to handle account interactions in the blockchain. This enables Venom to utilize the Actor model, isolate and parallelize actors, improving the efficiency and enabling contracts to execute in an asynchronous mode.
Venom Foundation is dedicated to bringing about a new wave of the international economy ecosystem through the power of blockchain technology, with a focus on real-world asset (RWA) products and transparent transactions. By providing users with products that fall in the RWA space with the added benefit of blockchain transparency, Venom Foundation is helping to build a more decentralized and secure global economy.
With a recent investment of $1 billion in Web3 startups, the platform is taking huge steps to bring about new ideas in the world of blockchain innovation. They’re also coming up with a layerzero blockchain that is touted to function as the foundation of a Web3 applications network that is both vast as well as global.
Navigating the world of blockchain and decentralized finance can be intimidating, but fear not! We’re here to guide you through the process and help you get the most out of your Venom Testnet experience. That’s why we’ve put together a comprehensive guide to help you get started on the Venom Testnet. With step-by-step instructions, tips, and best practices, we’ll walk you through the entire process. You’ll learn everything you need to know so that you are able to explore the capabilities of this exciting new platform.
Venom Foundation Testnet Guide: Step by Step
First, let’s get started on setting up your Venom Testnet wallet!
This will be your entry point into the world of the Venom Ecosystem. In this guide, we’ll take you through every step of setting up your Venom Testnet wallet, from downloading the wallet software to creating a new account and generating your wallet address.
Step 1: Downloading the Wallet
Let’s dive into the first step of setting up your Venom Testnet wallet – downloading the wallet. Follow these simple steps to get started:
Start by navigating to the official website for Venom Foundation. You can find it by clicking on this link.
Scroll down and you will be able to see a section that has link to Venom wallet. Click on it and download as an Android app, iOS app, or Chrome extension.
Alternately, you can visit Venom.network and scroll down.
On the website, look for the “How It Works” option in the top bar. Within the “How It Works” area of the Venom Foundation website, locate the button that says “Install Venom Wallet” and give it a click. I have installed the wallet as a Chrome extension. You may choose the option that works best for you. In this guide, we’ll be focusing on the Chrome extension wallet.
After selecting your preferred download option, you will be prompted to add the extension to your Chrome browser. Click on “Add to Chrome” and then select “Add Extension” to proceed.
Once you have successfully added the Venom wallet extension to your Chrome browser, the final step is to launch the wallet. To do so, simply click on the Venom wallet under your Chrome extensions, and you’ll be ready to start exploring the various features and functionalities of the wallet on the Venom Foundation testnet.
After downloading the wallet successfully, the next step is to create a new Venom account.
Step 2: Creating a new Venom Account
Now that you’ve successfully completed the first step of setting up your Venom Testnet wallet, we can move on to the next step – creating a new account. Here’s what you need to do:
Once you have successfully downloaded and installed the Venom wallet Chrome extension, click on the Venom wallet icon under your Chrome extensions to launch the wallet.
On this page, you will see the option to create a new wallet which you will have to select. Before proceeding, it’s essential to read through and accept the privacy policy. Take your time to thoroughly understand the policy and its implications before proceeding. Once you’ve accepted the privacy policy, click on the “Submit” button to move on to the next step.
At this point, you will be presented with a unique seed phrase that, the wallet will generate. Ensure that you store this seed phrase carefully in a secure location as it’s the only way to recover your wallet if it gets lost or damaged. Never share your seed phrase with anyone, as it can be used to gain unauthorized access to your wallet.
After you’ve securely stored your seed phrase, enter it as prompted to verify your account. The verification process ensures that you have correctly recorded your seed phrase and that you have access to your wallet.
The next step is to create a password for your wallet. This password will be required every time you access your wallet, so make sure it’s strong and secure. Once you’ve created a strong password, your wallet setup will be complete, and you’ll be ready to start using your Venom wallet.
Steps to Get Your Testnet Tokens from Venom Foundation
In this section, we will take you through the necessary steps to receive your tokens. These tokens are essential for testing the functionalities of the Venom platform without using real money. By following the steps outlined below, you will be able to acquire your testnet tokens in no time.
Begin by navigating to the official website for Venom Foundation. You can find it by clicking on this link.
Under “Start Building” you will be able to see a button stating “Venom Network launches their Testnet website”. Click on it and you will be taken to the official website of the Venom Blockchain Testnet Campaign
On the website, look for the “How It Works” option in the top bar. Within the “How It Works” area of the Venom Foundation website, locate the button that says “Start testnet” and give it a click.
To claim your testnet tokens from the Venom Foundation, you need to follow a series of steps.
The first step is to select the option to connect your wallet. Once you have done this, click on the Venom Chrome Extension and then select the option to Connect.
The next step is to log in with your Twitter account by clicking on the “Log in with Twitter” button. After you select that option, you will be prompted to approve an authorization notification from Twitter.
Next, click on the “Follow” button to visit the official Venom Foundation Twitter account and follow them. This is an important step in the process, as following the Venom Foundation on Twitter is a requirement for claiming your test tokens.
Once you have followed the Venom Foundation Twitter account, return to the Venom website and click on the “Check” button to verify your Twitter account.
If your Twitter account is successfully verified, you can then click on the “Claim” button to initiate the process of receiving your testnet tokens
At this point, you will be prompted to enter your password for the Venom wallet. Enter your password and click on the “Submit” button to complete the process. It may take some time for your test tokens to be deposited into your wallet, so be patient.
Please Note: If you face any difficulties while claiming your tokens, don’t worry. Simply refresh the page and try again. This could solve any minor issues that you may have encountered. However, if the problem persists, you can try logging out and logging back in again, or reaching out to the support team for further assistance. Don’t give up on claiming your tokens, as they are an important aspect of participating in the Venom Foundation ecosystem.
Using Venom Testnet to Explore Various Features
Using the Venom Testnet can be an excellent way to explore various features and functionalities of the Venom blockchain. Once you have claimed your test tokens, you can start interacting with the network by performing tasks, exploring the user interface, minting NFTs, sending and receiving transactions, and experimenting with different features. You can do so by performing the given steps
Step 1: Locating Venom Testnet Tasks to unlock NFT Rewards
After you have accomplished the initial three steps of setting up your Venom wallet, signing in with your Twitter account, and following Venom Foundation on Twitter, you will be directed to the Venom testnet ecosystem explorer. This is the platform where you have to engage in various tasks in order to test out the dApps on the platform. Here’s what needs to be done
Begin by navigating to the official website for Venom Foundation. You can find it by clicking on this link.
Under “Start Building” you will be able to see a button stating “Venom Network launches their Testnet website”. Click on it and you will be taken to the official website of the Venom Blockchain Testnet Campaign
As you peruse the various sections of the task page, be sure to direct your attention towards the “Explore the Venom Ecosystem” area. This specific segment is home to a diverse range of decentralized applications (dApps) that you have the option to engage with.
Take some time to explore and familiarize yourself with the offerings available to you. In this guide, I will show you how to explore 3 products in the ecosystem, and you can perform the remaining in a similar way.
Step 2: Interacting with Venom Foundation
To initiate your first engagement with the testnet, go to the testnet tasks website by following step 1.
Now Simply locate and click on the “Complete Taks” button found under the Venom section.
This particular webpage showcases the list of assignments that must be fulfilled to successfully mint the highly coveted “Venom Foundation” Testnet NFT. By completing each of these designated tasks, you will have the opportunity to create and obtain this unique digital asset
To successfully fulfil your initial task, begin by clicking on the “Follow” button. This action will trigger the opening of a new window, directing you to Twitter.
Once there, a pop-up will appear, requesting your confirmation to follow. Simply click on the “Follow” button to confirm and complete this step.
Once you have successfully followed the Venom Network on Twitter, it is time to return to the task list on the Venom Foundation webpage. You will notice that the first task box has undergone a change, and now features a new label that reads “Check”.
Click on this box to initiate a confirmation process, allowing the system to verify that you have indeed followed the Venom Network on Twitter.
After the system has validated your action, it will provide you with a notification verifying that you have successfully completed this task. At this point, the task box will be greyed out, with a checkmark located in the top left corner. This serves as an indicator that you have fulfilled the requirements of the task and are now able to progress to the next item on the list
Go back to the task list on the Venom Foundation webpage and locate the second task labeled “Tweet”. Click on the corresponding “Tweet” button to initiate the process.
This will open up a new Twitter window, where the tweet will be automatically generated for you and To continue, you will have to simply click on the “Tweet” button
After your tweet has been posted, navigate back to the VenomFoundation task page and select the “Check” option to validate that you have successfully completed the tweet task.
Once the system has confirmed the task as complete, you can progress to the next step of creating your unique “Venom Foundation” Testnet NFT.
Please return to the task list page and select either the “Mint” button located on the top or bottom of the page to proceed with the NFT minting process.
Upon clicking the “Mint” button on the task list page, the Venom Wallet will open and prompt you to confirm the transaction before proceeding. Follow the step-by-step instructions provided and enter your designated wallet password when prompted to do so. Once you have entered your password, click on the “Confirm Transaction” button located in the bottom right corner of the window to finalize the minting process.
After you have confirmed the transaction, the “Mint” and “Processing” buttons will appear. Please allow some time for the minting process to complete as it may take up to 20 seconds in some cases. Be patient and wait for the buttons to change to “Minting” and “Processing” before proceeding.
Once the transaction is successfully confirmed, you will have successfully minted your NFT
Step 3: Interacting with Venom Wallet
For your second engagement with the testnet, you will have to Send VENOM from your Venom Wallet
To initiate the transfer, navigate to your wallet and locate the “Send” button situated in the centre of the dashboard.
Under the field labelled “Receiver address,” you’ll need to enter a specific contract address. This is a unique identifier that ensures your transaction is directed to the correct recipient. To be precise, the code you should input is: 0:077873f1453fa67b0f1ce77f1e806675acd19c4694b9738be61fd406618f2f7a. Double-check to make sure you’ve entered the code accurately, as any errors could result in your transaction being sent to the wrong place.
To participate in the activity, simply enter 1 VENOM into the “Amount” box. Even a small amount like this is sufficient to meet the requirements. Once you’ve done that, click on the “Confirm transaction” button to proceed.
After you have submitted your transaction, the next screen you’ll see is the following one:
Your next task is to mint an NFT. To do this, navigate to the Venom Wallet task list and locate the “Mint” button. Click on this button to proceed with the minting process. You may see more than one “Mint” button, so feel free to choose whichever one is most convenient for you.
To complete the transaction, you’ll need to confirm it through your wallet. This involves entering your password and then clicking on the “Confirm Transaction” button. Double-check to ensure that the transaction details are correct before confirming, as this will help ensure that your NFT is minted successfully.
After the transaction has finished processing and has been confirmed, you’ll be rewarded with a Venom Wallet Testnet NFT.
Step 4: Interacting with Web3 world
For the last engagement with the testnet, go to the testnet tasks website by following step 1.
Click on Complete Task under the Web3.World section
Then simply select the “Follow” button located below the task.
This action will redirect you to Twitter where you can click on the “Follow” button to start following Web3.World’s official page. Once you’ve followed the page, return to the task list on Web3.World’s website to confirm that you have successfully completed the task.
Next, you have to swap your VENOM for USDT. visit the Official website of Web3.World through this link. When you visit Web3.World, you’ll notice two boxes that prompt you to select the tokens you wish to convert. The initial settings will show VENOM in the “From” box and USDT in the “To” box. However, you have the option to choose from a variety of testnet tokens that are available for exchange.
To initiate the token conversion process, simply enter the amount of VENOM you wish to exchange in the “From” box. For the purposes of this demonstration, let’s say we want to convert 5 VENOM. After you’ve entered the amount, the “To” field will automatically display the corresponding amount of USDT you’ll receive. Once you’re satisfied with the exchange rate, click on the “Swap” button to complete the transaction.
A confirmation window will pop up to verify your transaction details. To proceed, simply click on the “Confirm” button. This action will open up your Venom Wallet, where you will be prompted to once again confirm the transaction. Click on “Confirm transaction” to proceed with the exchange. Once your transaction has been successfully processed, you’ll receive a confirmation pop-up on the top right corner of your browser screen
The third task on Web3.World involves adding liquidity to various token pairs. For the purposes of this example, we’ll be focusing on providing liquidity to the “USDT/WVENOM” pair.
To begin adding liquidity to the “USDT/WVENOM” pair, the first step is to acquire Wrapped VENOM (WVENOM). This can be done by following the same steps outlined in the previous task to exchange your VENOM tokens for WVENOM. Once you have obtained WVENOM, you’ll be ready to move on to the next step in the liquidity provision
Now go to the “Liquidity Providing” section located in the top navigation bar.
Once you’ve arrived at the “Liquidity Providing” section, you’ll notice that the “USDT/WVENOM” pair is one of the first pairs listed. Here, you’ll be able to view a range of statistics related to this pair, including the 24-hour volume, total value locked (TVL), and annual percentage yield (APY). To open a position and begin providing liquidity, simply click on the “Open Position” button associated with the “USDT/WVENOM” pair.
Before you can open a position and start providing liquidity, you’ll need to connect your wallet to Web3.World. To do this, simply click on the “Connect Account” button located at the bottom of the page. This will prompt a pop-up from your Venom Wallet, which you’ll need to confirm in order to proceed with the transaction. Once you have successfully connected your wallet to Web3.World, you’ll receive a confirmation notification in the top right corner of your browser.
To provide liquidity to the “USDT/WVENOM” pair, begin by entering “1 USDT” into the top box. If you wish to add tokens in a balanced proportion, you can do so by toggling the switch above the “Continue” button, which will automatically fill in the number in the bottom field.
Next Simply click on the “Deposit Token” button for each of the two tokens, and a pop-up from your Venom Wallet will appear, prompting you to confirm each transaction before proceeding.
After successfully depositing your USDT and WVENOM tokens to the liquidity pool for the “USDT/WVENOM” pair, you can now click on the “Supply Token” button to receive your liquidity pool supply tokens. As usual, a pop-up from your Venom Wallet will appear asking you to confirm the transaction.
Once you have completed the transaction and received your LP tokens, a pop-up notification will appear confirming that you have successfully provided liquidity to the “USDT/WVENOM” pair. Congratulations! You can now choose to provide liquidity to other pairs by following the same steps.
After these you have to focus on Farming. To access the farming pools on the W3W platform, first, go to the W3W homepage and hover over the “Farming” tab on the navigation bar. Next, click on “Farming pools” in the drop-down menu to proceed.
Since we have provided liquidity to the USDT/WVENOM pair, we will select this pool from the farming pools list. Click on the text that says “TUSDT/TWVENOM” to go ahead.
When you arrive at the USDT/WVENOM farming pool page, you’ll notice a section to deposit your LP tokens. To get started, click on the “Max” option for both the “Amount” and “Lock Period” boxes.
After you’ve done that, you’ll need to click on the “Confirm” button to proceed with the transaction. The Venom Wallet will then pop-up, prompting you to confirm the transaction. Don’t forget to click on “Confirm” to complete the process. Now, you can head back to the task page to claim your reward – an exclusive NFT.
To claim your NFT, locate the “Mint” button displayed below the image of the NFT on the task page. Click on it to proceed with the process. A pop-up window will appear displaying the Venom Wallet, which will prompt you to input your password. Once entered, click on the “Confirm Transaction” button to complete the process.
Kindly allow some time for the transaction to complete processing. Once it is done, you will successfully receive your Web3.World NFT.
To conclude
The emergence of blockchain technology as a tool for creating a decentralized financial system has been gaining traction in recent years. Venom Foundation is at the forefront of this trend and has a unique approach to offering real-world assets, making it a potential game-changer in the financial sector.
We believe that by engaging with the Venom blockchain network now, you may have the opportunity to earn significant rewards in the future (though it is not confirmed by the team yet). It’s important to take advantage of this opportunity to potentially benefit from the promising developments that are taking place in the blockchain industry. Therefore, we recommend that you explore Venom Foundation and its offerings to see how you can get involved and reap the benefits of this innovative financial platform.
