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Introduction:
PulseChain, the faster, cheaper, and environmentally friendlier alternative to Ethereum, is a hard fork of Ethereum built to combat the high gas fees associated with Ethereum. The PulseChain project, created in protest against the gas fees of Ethereum that have been negatively affecting projects and users, is set to be the biggest airdrop in history.
If you're into cryptocurrency and NFTs, you've probably heard about the upcoming PulseChain airdrop. But what exactly is it, and why is it making waves in the crypto world? In this article, we'll delve into everything you need to know about PulseChain Airdrop, including how it works, what tokens you can participate with, and whether it's safe.
What is PulseChain?
PulseChain is a hard fork of Ethereum and an alternative blockchain created in protest against Ethereum's high gas fees. Ethereum uses a Proof of Work system that requires gas fees to send crypto between users, and these fees go towards supporting the infrastructure of the decentralized system. PulseChain aims to reduce the cost of these gas fees, making it a more environmentally friendly blockchain for users.
What is the PulseChain Airdrop?
The PulseChain airdrop is a hard fork of the Ethereum network that will result in the creation of new tokens, including currencies and NFTs. It's set to be the largest airdrop in history, which means that if you're holding any tokens on the Ethereum network at the time of the hard fork, you'll get a duplicate version of those tokens on the PulseChain network. For example, if you're holding ETH, you'll receive PLS (the native token) on PulseChain.
Why is PulseChain the biggest airdrop in history?
PulseChain will be a fork of the Ethereum network, and all ERC20 tokens on the Ethereum network at the time of the hard fork will be copied over to the PulseChain. This means that the PulseChain airdrop will be the largest airdrop of potentially valuable digital assets in history, surpassing any other blockchain project in the past.
When did the PulseChain Airdrop happen?
PulseChain launched on May 13th 2023, just hours after the PulseChain price sored to a 3x from the sacrifice price.
Who qualifies for the PulseChain airdrop?
Anyone who holds an ERC20 token(s) on an ETH compatible wallet address is eligible for the airdrop. If you have your coins on a centralized exchange like Coinbase or Binance, it is important to move them to a decentralized wallet, preferably a hardware wallet that you own the keys to, to receive the airdrop. You can check if your address qualified for the PulseChain Airdrop via the PulseChain Airdrop Checker.
What if I have my coins on a Centralized Exchange (CEX) like Binance?
If you keep your cryptocurrency on centralized exchanges such as Coinbase, Gemini, Binance, and others, you do not have ownership of your crypto. They may obtain all of the PRC20 tokens that you have in your exchange wallet. It is crucial to transfer all of your coins to a decentralized wallet, preferably a hardware wallet, in order to receive your airdrop. Remember, if you don't have your keys, you don't have your coins.
What ERC20 tokens and NFTs are included in the PulseChain airdrop?
All ERC20 tokens and NFTs will be copied over to the PulseChain. After switching network settings to PulseChain, you will have the exact same balances for all your ERC20 tokens now on PulseChain. All tokens on PulseChain will be traded on PulseX, which is based on Uniswap V2.
How do I claim my ERC20 tokens on PulseChain?
You will not need to claim them as the tokens will automatically be copied over to the PulseChain at the block time determined by PulseChain developers. You will need to switch RPC credentials in your custodial wallet that you own the keys to, such as Metamask, Ledger Trezor etc.. You can find the official network settings on the official PulseChain website or their Gitlab repo.
Is It Safe?
Yes, participating in the PulseChain airdrop is completely safe. You won't lose any tokens on the Ethereum network as part of the hard fork, and you're guaranteed to receive an equivalent token in the PulseChain network 1:1 for each token that you hold in the Ethereum network at the time of the hard fork.
What Are the Disadvantages?
One potential disadvantage of the PulseChain airdrop is that the value of the new versions of the tokens will be dependent on what the communities do with them. Tokens with larger market caps are likely to have a larger developer community, which means that they're more likely to have development activity and user engagement. Additionally, it costs money (in Ethereum gas fees) to move tokens to/from the Ethereum blockchain, which means that some people may miss out on other opportunities while holding tokens for the PulseChain airdrop. Finally, it's not yet known exactly when the hard fork will occur - It is speculated it will happen around Q2 - Q3 of 2022.
What crypto wallets qualify for the PulseChain Airdrop?
Any non-custodial crypto wallet where you have access to your own keys. Read our article on custodial vs non-custodial wallets if you are unsure if you qualify for the PulseChain Airdrop.
What hardware wallets support the PulseChain airdrop?
Trezor, Ledger Nano series, and any other ERC20 compatible hardware wallet supports the PulseChain airdrop. As long as you hold your ERC20 tokens in a non-custodial wallet or hardware wallet that you own the keys to, you will receive your copies.
Will I See My NFTs on PulseChain?
Yes, if your NFT was on the Ethereum network at the time of the snapshot, you'll see it on PulseChain.
Conclusion:
In conclusion, PulseChain, the hard fork of Ethereum, aims to create a faster, cheaper, and more environmentally friendly blockchain for users. PulseChain is set to be the largest airdrop in history, and it will copy over all ERC20 tokens and NFTs on the Ethereum network to the PulseChain network. Any individual who holds an ERC20 token in an ETH compatible wallet will be eligible for the airdrop. PulseChain mainnet is anticipated to launch around Q2 - Q3 of 2022, and it is completely safe to participate in the airdrop. Although there may be some potential disadvantages, such as the value of new tokens being dependent on the community and missing out on other opportunities while holding tokens for the airdrop. As long as individuals hold their ERC20 tokens in a non-custodial wallet or hardware wallet, they will receive their copies on PulseChain. Overall, PulseChain provides an alternative to Ethereum, and its airdrop is an exciting opportunity for cryptocurrency enthusiasts and NFT collectors.
