Loading...What is Soul Protocol?
Soul Protocol is (or Soul Labs) a decentralized finance (DeFi) protocol that provides easy access to liquidity across multiple blockchains and lending platforms, including Aave and Compound.
Built on top of these established protocols, Soul enables users to supply and borrow assets with the flexibility to interact with different lending protocols like Aave and Compound from a single entry point: the Soul app.
This approach simplifies the DeFi experience, allowing users to access the functionalities of these leading platforms while enhancing usability and efficiency, bringing together fragmented liquidity.
Soul Protocol Airdrop Details
Soul Labs has officially launched a testnet with a confirmed airdrop program. During the testnet period, participants can earn “Seeds,” which are Soul’s version of points.
These Seeds will be converted into $SO tokens, the native token of the Soul ecosystem, and distributed at Token Generation Event (TGE). The airdrop is currently running with relatively low participation levels, making it an opportune time for early participants to potentially earn higher rewards.
The airdrop requires users to complete various tasks across multiple testnets, including Ethereum Sepolia, Base Sepolia, Arbitrum Sepolia, Optimism Sepolia, and Avalanche Fuji. Each completed task awards Seeds points, which will directly influence the amount of $SO tokens received when the mainnet launches.
Latest Update: Soul Labs is allocating 1.5% of their upcoming token supply to Yappers and the wider Kaito ecosystem, with 0.5% reserved for top Soul Yappers, 0.5% distributed to all Yappers based on accumulated Seeds (Soul’s product point system), and 0.5% allocated to the broader Kaito ecosystem based on total Seeds milestones. To participate, visit Soul’s website, enter the code “KAITO” and connect your wallet. Additionally, Soul Labs is offering $5,000 USDC in weekly rewards to the top 25 Yappers on their leaderboard.
How to Participate in the Soul Protocol Airdrop
- Visit the Soul Protocol website and connect your MetaMask wallet.
- Navigate to the “Seeds” tab and switch to the “My Quest” section.
- Start with Quest 1:
- Click on “Tasks 0/7”
- Link your social media accounts as required
- Complete all the tasks in this section
- Verify the completion of each task
- Before beginning Quest 2, ensure you have testnet ETH on all the required chains:
- Ethereum Sepolia: Get from Google Cloud or Alchemy faucet
- Optimism Sepolia: Use the QuickNode faucet
- Arbitrum Sepolia: Obtain from Alchemy faucet
- Base Sepolia: Get from Alchemy faucet
- Avalanche Fuji: Use the Avalanche faucet
- Click on “Quest 2,” then select “Claim Faucet” and wait to receive test tokens across all chains.
- Complete the testnet tasks sequentially, working through each quest one by one:
- Read the task descriptions carefully
- Complete each task as instructed
- Verify completion to earn Seeds Points
- For Supply/Borrow tasks:
- Go to the Protocol tab
- Choose either Supply or Borrow option
- Select a token on your preferred network
- Complete the transaction as requested
- For Collateral/Withdraw tasks:
- Navigate to the Dashboard
- Select a token you’ve previously supplied
- Add or remove Collateral according to instructions
- Confirm the transaction
- For Repay tasks:
- Access the Dashboard
- Select a token you’ve previously borrowed
- Click Repay and confirm the transaction
- Increase your rewards through referrals:
- Share your referral link with friends
- Track your position on the leaderboard
- Consider sharing your invite link in community forums
Frequently Asked Questions
What is the $SO token?
$SO is the native token of the Soul Protocol ecosystem. It will be distributed to participants who earn Seeds during the testnet phase.
When will the $SO tokens be distributed?
The $SO tokens will be distributed at the Token Generation Event (TGE), which will occur after the testnet phase concludes. The exact date of the TGE has not been announced yet.
How are Seeds converted to $SO tokens?
Seeds are points earned during the testnet phase. At the TGE, these Seeds will be converted to $SO tokens based on a conversion mechanism that has not been fully disclosed yet. The more Seeds you earn, the more $SO tokens you’re likely to receive.
Do I need real assets to participate in the testnet?
No, you don’t need real assets to participate. The Soul Protocol testnet operates on various test networks using testnet tokens, which have no real value. You can obtain these testnet tokens from the faucets mentioned in the guide.
Conclusion
The Soul Protocol airdrop is an opportunity for DeFi enthusiasts to earn $SO tokens by participating in testnet activities. By completing various quests across multiple testnets, users can accumulate Seeds, which will be converted to $SO tokens at the TGE.
Remember to follow the step-by-step guide carefully, ensure you have testnet ETH for all required chains, and complete all tasks to maximize your potential rewards.
You're interested in more projects that do not have any token yet and could potentially airdrop a governance token to early users in the future? Then check out our list of potential retroactive airdrops to not miss out on the next DeFi airdrop!
Don't forget to follow us on Twitter, Telegram, & Facebook and subscribe our newsletter to receive new airdrops!Estimated Value
n/a
Tokens per Claim
n/a
Max. Participants
Unlimited
