Testnet Airdrop

Babylon Phase 2 Testnet Launches on January 8, 2025

Full Details: https://babylonlabs.io/blog/babylon-phase-2-testnet-launch Key Times:

Block Production: Begins at 9 AM UTC
Staking Web App: Goes live at 10 AM UTC

Key Highlights:

Bitcoin Staking for PoS – Secure PoS networks with BTC for greater decentralization and security.
Lower Validator Barriers – Reduced requirements to enable broader participation.
Phase 2 Testing – Focus on Bitcoin Stake Activation and validator coordination.
Non-Incentivized – Development-only testnet for testing and refinement.

Getting Started: To join the testnet, sBTC and tBABY tokens are required. Faucets will be available after the testnet launches.

sBTC Faucet (Discord): 0.00102 sBTC per request (#faucet-signet-btc).
tBABY Faucet (Discord): 0.3 tBABY per week per address (#faucet-test-baby).
OKX Faucet: Available at https://www.okx.com/web3/faucet.

Participation: Whether you are a regular user or a developer, you can contribute to the testnet in various ways.

Users – Use the faucet and interact with supported wallets.
Validators/Developers – Follow these guides to set up and register:
- Node Setup: https://github.com/babylonlabs-io/networks/tree/main/bbn-test-5/babylon-node
- Validator Registration: https://github.com/babylonlabs-io/networks/tree/main/bbn-test-5/babylon-validators

What is Mind Network?

Mind Network is a blockchain initiative that has raised $12.5 million from investors like Binance Labs and Animoca Brands. It’s dedicated to creating privacy-preserving tech for Web3, enabling users to control their sensitive data within decentralized platforms. The project leverages advanced cryptography and introduces a novel tokenomics model based on vFHE (virtual Fully Homomorphic Encryption) points, which are central to its governance and rewards system.

Mind Network Airdrop Details

The airdrop for Mind Network rewards users for their active involvement in the ecosystem, particularly through earning and managing vFHE points. Eligibility for the $MIND token airdrop hinges on obtaining a CitizenZ Passport, which you can get after accumulating and delegating at least 50 vFHE points.

Step-by-Step Guide: How to Participate in the Mind Network Airdrop

Visit the Mind Network DApp
- Click here to join
- Go to the “TGV From Mind Network” section.
- Select your preferred token for staking.
Stake Tokens
- Stake your tokens to start earning vFHE points.
- Claim your vFHE rewards at least once every 7 days.
Delegate vFHE Points
- Head to the Delegation page.
- Choose a delegation hub like RandGen and delegate your vFHE.

Additional Steps for Maximum Rewards

Access the voting page and deposit a small amount of ETH (up to 0.01 ETH).
Keep an eye on voting hub availability.
If you have over 50 vFHE points, claim your Discord role via the Galxe quest.

Important Tips for Maximizing Your Rewards

Regularly claim your vFHE points to avoid penalties.
Monitor your vFHE balance to stay above the 50-point threshold.
Engage with the Mind Network Discord for updates.
Consider increasing your stake for more vFHE.
Secure your CitizenZ Passport through Galxe once you meet the vFHE criteria.

Key Considerations

Voting hubs have limited spots that fill fast.
ETH deposits can’t be withdrawn currently.
Not claiming vFHE points leads to a decrease in points.
Voting can amplify your rewards.

Frequently Asked Questions

What happens if I don’t claim my vFHE for over 7 days?
- Your vFHE points will decrease, potentially impacting your airdrop eligibility.
Is voting mandatory for the airdrop?
- No, but it can increase your rewards.
How do I get the CitizenZ Passport?
- You claim it through Galxe after delegating 50+ vFHE points.
What’s the minimum amount of vFHE needed?
- You need at least 50 vFHE points for the CitizenZ Passport, essential for airdrop eligibility.

Conclusion

The Mind Network airdrop provides various pathways for users to gain rewards via vFHE accumulation and delegation. Following this guide and staying active ensures you’re well-positioned for the $MIND token airdrop. Regularly claim your rewards and manage your delegation status to secure your eligibility.