What Is Venom? Exploring the VENOM Token

Introduction to Venom Network

Venom Network is a Layer 0 blockchain developed by the Venom Foundation. It holds the distinction of being the first network regulated under the Abu Dhabi Global Market (ADGM), a leading international financial center.

The Venom testnet launched in April 2023, aiming to deliver ultra-fast transaction speeds and limitless scalability to accommodate a rapidly growing user base. Recently, Venom announced an airdrop for testnet participants, requiring an OKX verified account to claim tokens.

👉 Discover how to claim your Venom airdrop

Venom Network Architecture

Venom employs a modular blockchain design to enhance scalability while minimizing transaction fees. Theoretically, Venom can process 100,000–1 million TPS.

Key Structural Layers

1. Masterchain (Layer 0)

   • Facilitates communication between layers.
   • Stores network configurations, validator details, and voting rounds.

2. Workchains (Layer 1)

   • Operate independently with customizable functions (e.g., VM, transaction structure).
   • Can host native tokens and decentralized applications (dApps).

3. Shardchains (Layer 2)

   • Process subsets of transactions for improved efficiency.
   • Supports dynamic sharding (similar to Ethereum 2.0) to handle high throughput.

Threaded Virtual Machine (TVM)

Venom’s TVM executes smart contracts, resembling Ethereum’s EVM but optimized for speed.

VENOM Token Overview

Token Metrics

• Name: Venom Token
• Ticker: VENOM
• Blockchain: Venom Network
• Type: Utility & Governance

Token Allocation

• Ecosystem: 28%
• Community: 22%
• Foundation: 15%
• Validators/Market Liquidity: 10% each

Release Schedule

Details pending official announcement.

Team & Investors

Core Team

• Peter Knez (Ex-CIO, BlackRock)
• Mustafa Kheriba (Mirabank, Iceberg Capital)

Backing

Venom Ventures and Iceberg Capital manage a $1B Web3 fund supporting the project.

Partnerships

Notable collaborators:

• DAO Maker
• Hacken
• Everscale

Conclusion

VENOM showcases strong potential with $229M market cap** and **$1.66M daily trading volume. Its ADGM compliance and technical innovation position it as a promising Web3 contender.

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FAQ

Q: How can I participate in the Venom airdrop?
A: You need an OKX-verified account and must have interacted with the testnet.

Q: What makes Venom’s sharding unique?
A: Dynamic sharding adjusts chain splits in real-time to maintain stability under high loads.

Q: Is Venom’s TVM compatible with Ethereum dApps?
A: While functionally similar, dApps must be adapted for TVM’s architecture.