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Guide: Joining the honeyswap faucet and claiming HNY ($50+/month, currently)

Guide: Joining the honeyswap faucet and claiming HNY ($50+/month, currently)

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by COINS NEWS 12 Views

Edit: Forgot to add the xdai faucet to get 0.01 xdai needed for fees.

For those of you who don't already know there's a faucet under honeyswap that currently allows every user to claim around $3.5 in honey every 48 hours, which is around $50 monthly, claiming only takes about 10 seconds once you have verified, here are the steps:

Step 1, brightid verification:

The faucet currently uses a very "interesting" system to keep users from using multiple addresses to claim the reward without doing any KYC, and that system is done through one app called BrightID, you:

  1. Install this app

  2. Set it up on your device with a name and a picture

  3. Join what they call a "verification party", which is basically a one time discord or zoom call, here they check you are a real human by asking everyone in the call to activate their webcams, then you approve others in your call within your app as legitimate people, and if things go okay, you'll be verified within 5 minutes, some people may not be willing to show their face like this, but hey, it is $50+/month and only people who don't mind should proceed from here on:

Step 2, setup an xdai wallet:

  • Open Metamask, and select "Custom RPC" from the Network Dropdown.
  • Choose "Custom RPC" Settings, add in the xDai network details and click Save:
  • Network Name: xDai
  • New RPC URL: https://rpc.xdaichain.com/
  • ChainID (Optional): 100
  • Symbol: xDai
  • Block Explorer URL: https://blockscout.com/poa/xdai

Step 3, get 1 xdai, you'll need it for the fees, everytime you claim HNY you'll need to pay for gas, it is something like 0.00001 XDAI each time

Route 1:

Route 2:

  • Get DAI (You'll need ETH to pay for the gas between DAI <-> XDAI)
  • Go to https://xdai.io/
  • Click exchange
  • DAI to XDAI ( Make sure you select DAI to XDAI and have metamask on mainnet, not xdai/poa network)
  • Follow the steps to convert some DAI to XDAI
  • Choose an amount (1 would suffice), then send. After you click send it may take a few minutes as it needs to confirm. Be patient.
  • Switch to the XDAI/poa network

Step 3, register & claim HNY:

  • https://faucet.1hive.org/#/
  • Enable account on the top right (Link metamask, make sure you are on the xdai network we set earlier)
  • Follow the instructions on screen to scan the QR code with the brightid app and get verified on the current address.
  • Claim the XDAI every 48 hours

Step 4, exchange HNY to xdai

That's it.

Things to note:

  • Personally, I am keeping everything I am claiming in HNY, HNY was $800 only a few days ago, and it is already $1263, I am risking nothing as I am only using what I get from the faucet, so do your own research if you actually plan on purchasing some with your own money.

  • If I wanted to withdraw back to DAI I would wait until I had at least $50, or so (after at least a month), as mainnet ETH fees are quite high at the moment, the hit would be lower percentage wise when converting if you wait until you have higher amounts of XDAI.

submitted by /u/frostykuiper
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