Understanding Fast Protocol
Fast Protocol serves as a groundbreaking solution designed to enhance transaction efficiency on the Ethereum Mainnet. Developed by a skilled team at Primev, the focus is on minimizing delays and preventing malicious practices like Miner Extractable Value (MEV) attacks. By employing Fast RPC, users can experience rapid and secure transaction processing, ultimately improving the user experience across various decentralized applications (dApps) and wallets. Additionally, investments from notable firms like a16z CSX, HashKey, and Figment Capital underline its potential.
This sophisticated technology integrates private mempools and offers bundle support, further fortifying the transaction capabilities on Ethereum. By routing trades through Fast RPC, users not only achieve quicker executions but also enjoy enhanced privacy.
Currently operational on the mainnet, Fast Protocol features the innovative Miles farming program, which incentivizes users involved in MEV generation through various transactions, including swaps and liquidity provisioning.
Airdrop Insights for Fast Protocol
As Fast Protocol gears up to launch, holders of Fast Miles can convert their earnings into the exclusive FAST tokens. Users are encouraged to “increase trading volume to ensure a higher share of future $FAST token rewards,” following the logic: increased MEV equates to more Fast Miles earned, leading to a larger allocation of FAST tokens.
Participants accumulate Miles through engaged activities like swaps, liquidity provision, and user referrals, with every interaction contributing to their overall points tally.
Essential Details:
- Airdrop Allocation: To Be Announced (confirmed for Miles holders)
- Method of Distribution: Points system based on Miles conversion
- Token Generation Event Date: Not yet disclosed
Track your progress with the Miles program revolving around two main activities: the swaps executed through Fast RPC and successful referrals. Users who mint the Genesis Soulbound Token (SBT) gain access to a dedicated dashboard for tracking Miles and task completion.
Joining the Fast Protocol Airdrop
Step 1: Navigate to the Fast Protocol Hub
Head over to the Fast Protocol website and click on “Connect Wallet” located in the upper right corner.
Step 2: Link Your Ethereum Wallet
Establish a connection using MetaMask, WalletConnect, or Coinbase Wallet. Confirm the connection request, ensuring you are connected to the Ethereum Mainnet and have ETH available for transaction fees. If you need ETH, consider purchasing from exchanges like Binance.
Step 3: Mint Your Genesis SBT
Locate the minting section for the Genesis SBT and complete the necessary steps. This unique Soulbound Token is non-transferable and grants access to the Miles tracking dashboard along with future benefits from the protocol.
Step 4: Integrate Fast RPC in Your Wallet
In your wallet settings, select “FastRPC” under Networks. Set it as your default option for Ethereum transactions to ensure all future swaps route through Fast Protocol seamlessly.
Step 5: Execute Ethereum Swaps
Initiate swaps on any Ethereum-based DEX while employing Fast RPC as your primary network. Each transaction generates MEV, converting it into Fast Miles. Larger swaps or those that create additional MEV opportunities yield more Miles.
Step 6: Fulfill Social Media Engagements
Participate in various social media initiatives outlined on the airdrop page, such as joining the Discord and Telegram communities.
Step 7: Refer Friends through Your Unique Link
Access your personalized referral link on the dashboard and share it with peers. Earn extra Miles for each friend who connects with Fast RPC and performs swaps. The rewards from referrals increase in accordance with their activity level.
Maximizing Your FAST Token Allocation
Prioritize Larger Swaps: Conducting bigger swaps directly influences the MEV generated, thus facilitating greater Miles accumulation. Concentrate on significant trades rather than numerous small ones.
Consistently Utilize Fast RPC: Make Fast RPC your default setting to guarantee all Ethereum transactions contribute to your total Miles.
Capitalize on Referral Bonuses: Engaging referrals can dramatically elevate your accumulated Miles. Target potential traders who are likely to execute many transactions on Ethereum since your referral bonuses will increase with their trading frequency.
Common Inquiries
When Will the Airdrop Occur?
The Fast Protocol team has confirmed that FAST tokens will reward Miles earners, although the exact date for the Token Generation Event remains unscheduled.
How is the Conversion from Fast Miles to FAST Tokens Managed?
Fast Protocol has established that a greater amount of MEV leads to a higher number of Fast Miles, which subsequently converts into FAST tokens. While the precise conversion rate is yet to be announced, your proportion of total Miles probably influences your share of the airdrop.
Can I Use Fast RPC on Different Networks?
No, Fast Protocol is exclusively compatible with the Ethereum Mainnet. The RPC framework has been tailored specifically for Ethereum’s ecosystem and cannot be utilized with Layer 2 solutions or alternative blockchains.
What if I Miss Early Engagement?
Users can start earning Fast Miles at any point, as the FAST token has not been released. However, early participants might receive retroactive benefits or enhanced multipliers.
Final Thoughts
The imminent Fast Protocol airdrop rewards users who facilitate Ethereum transactions via Fast RPC, with Fast Miles translating directly to FAST tokens once launched. The team emphasizes that users should aim for higher trading volumes to secure future token rewards, presenting a compelling farming opportunity for Ethereum enthusiasts.
Are you looking for more projects that are yet to release tokens and may potentially offer governance tokens to early participants? Be sure to explore our curated list of prospective retroactive airdrops to stay ahead in the DeFi landscape!
Don’t forget to follow us on Twitter, Telegram, & Facebook and subscribe to our newsletter for the latest updates on new airdrops!
