Shardeum is an EVM blockchain network that was designed to be most scalable layer 1 with low gas fees forever. Its own native governance token is $SHM.
If you haven't read our previous article explaining how Shardeum works and its existing ecosystem, you can read it here.
The chain is still in its 'beta', but both Shardeum mainnet and its native token is said to be launching this quarter, and they have also confirmed that 5% of the token supply will be airdropped to testnet users and node runners on the official website, hence it’s definitely the right time to start trying out the testnet!
Source: shardeum.org
Before proceeding further, you will need to make sure you have MetaMask installed first (there might be a MetaMask airdrop too).
Now, let’s look into the steps required to potentially qualify for the airdrop!
1. Obtaining SHM Testnet Tokens via the Faucet
The first part is to connect to the testnets and obtain testnet tokens before you can interact with any of the Shardeum testnet applications.
Simply go to https://docs.shardeum.org/network/endpoints and click to connect to their different testnets. Some might be temporarily unavailable.
Next, go to https://docs.shardeum.org/faucet/claim and follow the instructions to join the Shardeum discord, use the faucet command, and insert your MetaMask address.
Note: Do not use Ledger as Shardeum testnet currently does not work well with Ledgers.
2. Interacting With DApps
The second step will be focused on interacting with the various dapps on the Shardeum testnet. If you have been following our airdrop guides, you should have a pretty good idea of what to do.
Let us walk you through how to interact with the dApps on their testnet ecosystem. Before we begin, make sure your MetaMask network is on Shardeum Liberty 2.X which is their testnet.
The first dApp we will interact with is Swapped Finance.
Approve your SHM, then swap some of your SHM into some test USDC. Make sure you have at least 30 left over!
Once you have some USDC, on the left menu, go to 'Pool', then 'Add', then select SHM and USDC, approve your USDC, and provide some SHM-USDC liquidity on the DEX and you're done for now!
Next hop over to dotshm.me. It is a domain name marketplace similar to Ethereum Name Service (ENS). Search for an available domain and buy a Shardeum SHM domain.
The last step is to trade some NFTs. Go to Spriyo, Shardeum's NFT marketplace which is similar to Opensea, view NFTs that you like and make some bids!
Once you’ve performed all those actions, it’s time to go deeper!
3. Creating Your Own Token
Next we’ll create your own token on Shardeum’s testnet. Don’t worry it’s easier than it sounds, we’ll go through it step by step.
Steps:
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Type in a sample name, symbol, and premint amount (example below), then click on ‘Open in Remix’.
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Now go to ‘Solidity compiler’ and click on the Compile button.
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Then go to ‘Deploy & run transactions’ and change the ‘Environment’ field from ‘Remix VM (Merge)’ to ‘Injected Provider’ and click ‘Deploy’ and approve the MetaMask transaction.
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Once you’ve deployed the contract successfully (you might have to try a few times), scroll down below the ‘Deploy’ button and find your contract under the ‘Deployed Contracts’ section. Click on the transfer field, paste your address and amount in (not more than what you minted), and click on ‘transact’. Approve the MetaMask transaction, and you will have received the token in your wallet. You’re done!
4. Setting up Your Own Shardeum Validator Node
Running a testnet node historically gives you a high chance of getting an airdrop.
To run a node, we need to complete 3 main steps:
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Buy a VPS (Virtual private server)
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Run a node
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Stake SHM tokens
The full guide is too technical to explain as there are many steps that can cause errors for different setups, and the cost may outweigh the benefits, hence this step is only recommended if you are familiar with setting up validator nodes. For more information, visit Shardeum’s validator guide here.
Note: If you are new, it is best to rent a virtual private server (VPS) to try so that you don’t have to keep your computer online 24/7 as your VPS will be doing that for you. A VPS is not free and will usually cost about $14 to $25 a month, but DigitalOcean, a server hosting platform, has a free $200 credit that you can start with. You will likely need to keep running the node until the testnet airdrop is given and it may cost more than what you received in airdrops.
Conclusion
The market will soon focus on sharding solutions as it is part of Ethereum’s next big update after Shanghai, it will be fascinating to see what Shardeum has up its sleeve to further the sharding technology. It is likely that Shardeum will gaining some attention after it launches its mainnet, which may cause its token to appreciate in value.
Hence, while the testnet is still live, you should perform all the above steps as they are free and grant a chance of getting the airdrop!
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