While blockchain-based privacy solutions have been targeted by regulators, they remain in demand. Incidents like the Chinese government freezing accounts of pro-democracy protesters in Hong Kong and data leaks make the need for online privacy acute.
I believe that privacy will be an important aspect of the cryptocurrency industry. Keeping that in mind, today I will show you a privacy-focused Ethereum rollup, Aztec. Also, we’ll look at ways to potentially earn an airdrop on this network. Given the low gas cost on Ethereum, it is an optimal time to fish for an airdrop.
What is Aztec Network?
Aztec Network is a zero-knowledge proof powered rollup, also known as a ZK-rollup. However, it is different from most rollups because it supports applications on Ethereum mainnet.
While users still have to bridge tokens from Ethereum to Aztec, applications don’t have to deploy their code on Aztec. Instead, they can add Aztec network support as an extension to the existing applications to start offering optional privacy. Aztec batches a bunch of transactions and privately sends them on Ethereum mainnet.
Vitalik likes Aztec. Source: Twitter.
The project is backed by top companies and angel investors in this space, such as Paradigm, Vitalik Buterin, and Stani Kulechov. This instills confidence in the project’s future development and promotion.
Given that many other Layer 2 solutions like Optimism, Boba Network, and Loopring have tokens, there’s a chance that Aztec will have one in the future too. The team has not explicitly denied having a token even though they do not “plan to release Aztec token in the near future.” Hence, using the protocol in the early stages may give users a chance to potentially receive an airdrop.
The team launched the Aztec Connect, which enables bridging ETH on the Aztec network, in March 2022. It also added support for Element Finance and Lido. In the future, the project plans to integrate with other popular platforms such as Aave, Compound, and Uniswap.
Source: zk. money.
How to hunt for Aztec airdrop?
Bridging funds to the Aztec Network is termed as “shielding.” For the end user, it is similar to depositing money to a Layer 2.
To deposit funds to Aztec, first you need to create an account on the network. It requires a MetaMask wallet with at least 0.01 ETH (worth ~$16) and some additional ETH to pay for gas.
Go to zk.money, and click on ‘Shield Now.’
Then, connect your MetaMask wallet to the website.
Confirm a transaction in your MetaMask wallet. Then, choose an appropriate username for your account on Aztec Network. Remember that to recover access to your Aztec account you’ll need the same Ethereum account you’re using with the MetaMask wallet and the username you set.
Pick a username and click on ‘Register.’
In the next step, transfer at least 0.01 ETH to complete the account registration process. If this step is not completed, the registration will fail and you’ll have to restart the process from the beginning.
Enter an amount, check the ‘I understand the risks’ box, and then shield the ETH by clicking on the ‘Shield Now’ button when it appears.
Once the transaction is complete, you’ll automatically be taken to your Aztec account dashboard. You can add additional funds to the account by clicking on ‘Shield,’ or withdraw funds to another Aztec account or Ethereum Layer 1 using ‘Send.’
The project is running a promotional weekly lottery for deposits above 1 ETH. You might get a nice bonus after depositing funds.
You can interact with Element Finance or convert your ETH into interest-earning Lido-staked ETH on the ‘Earn’ tab. Interacting with the protocols early should increase the chance of earning a potential airdrop.
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