How To Take Advantage of the PulseChain Airdrop

Paul Richardson

7 min readFeb 11, 2022

Get PulseChain versions of your existing ERC20 based coins in Q1 2022

In this Article, I will Tell You:

What is PulseChain?
What is a hard fork?
What is the PulseChain airdrop?
Why you should participate in the PulseChain airdrop
How to participate in the PulseChain airdrop

What is PulseChain?

PulseChain is a new blockchain which will be created by copying Ethereum and changing some if its code, making it faster and cheaper to transact on. It’s not just the Ethereum code that’s being copied, but all the tokens (including currencies and NFT’s) that currently reside on the Ethereum network as well.

Its native token will be PLS. All existing ETH on the Ethereum network will be converted to PLS on the Pulsechain network and the PLS supply will be inflated by at least x10,000.

I won’t describe PulseChain in detail in this article, so if you want to learn more; please visit the ‘What is PulseChain’ page on the How To Pulse website.

What is a Hard Fork?

The copy process is known as a ‘hard fork’. The current Ethereum network will remain untouched, PulseChain will be a duplicate with code changes. I won’t go into detail in this article so if you want to learn more about it, check out the How To Pulse website.

When will the Hard Fork Occur?

The hard fork is planned to occur in Q1 2022 (i.e. by the end of March 2022).

What is the PulseChain Airdrop?

The PulseChain airdrop refers to the newly created tokens (currencies and NFT’s) as a result of the hard fork. It will be the world's largest airdrop to date.

If you hold currency or NFT’s on the Ethereum network at the time of the hard fork, you will get a duplicate version of these on the PulseChain network.

ETH → PLS (the native token)
BAT → P BAT
CRO → P CRO
LINK → P LINK
MKR → P MKR
etc.

Should you Participate in the PulseChain Airdrop?

Which Tokens can you participate with?

Anything that’s on the Ethereum blockchain, so:

Ethereum (ETH)
Any ERC-20 based token or cryptocurrency
NFT’s

Is it safe?

Yes. There is no risk of losing any tokens on the Ethereum network as part of the hard fork.

It is guaranteed that you will get an equivalent token in the PulseChain network 1:1 for each token that you hold in the Ethereum network at the time of the hard fork.

Why should you do it?

Any ETH you have will be converted to PLS. This will be the native token of PulseChain, so will have a ‘strong’ value within its ecosystem (nobody knows what the $ value will be).

You will get tokens, equivalent in number to the ERC20 tokens you already have, with zero to minimal effort and it’s 100% safe.

You will be able to trade your tokens and/or move them to the PulseX Decentralised Exchange to earn profit from farming.

What are the disadvantages?

The value of the new versions of the tokens will be dependent on what the communities do with them, to add value.

It’s likely that the ERC20 based tokens with the larger market caps will have a larger developer community, so will be more likely to have development activity and user engagement.

It costs some money (in Ethereum gas fees) to move tokens to/from the Ethereum blockchain.

For some people, having tokens on the Ethereum blockchain especially for the purpose of the PulseChain airdrop means missing out on other opportunities (for example I have moved CRO out of DeFi where I was earning 12.5% APR).

It isn’t known exactly when the hard fork will occur — only that it is targeted for Q1 2022.

How can You Participate with Your ERC20 Tokens?

Scenario 1: You own the private keys

If your tokens are already on the Ethereum network and you own the private keys, just be patient! Wait for the PulseChain hard fork.

Scenario 2: You don’t own the private keys

If your ERC20 based tokens are located on a centralised exchange you don’t own the private keys, so you will need to move your tokens into a hot or cold wallet that you own (I use and recommend the Ledger Nano X hardware wallet).

Scenario 3: You own a token that can be in ERC20 format, but isn’t currently

Some tokens can exist in multiple formats e.g. CRO can exist in 3 formats:

Original (crypto.com), Ethereum based, ERC20
Cronos (cronos.crypto.org) Ethereum based, ERC20
Native Cro (crypto.org), Cosmos based

It is usually possible to convert (or ‘bridge’) from one version of the token to another. So you must do this and then ensure your tokens are in a hot or cold wallet that you own (I use and recommend the Ledger Nano X).

How can You Participate with CRO from Crypto.com?

CRO (my favourite token) can be held as an ERC20 based token. I have a reasonable amount of it, so I decided to temporarily remove it from DeFi and place it into the Ethereum blockchain, to take advantage of the PulseChain airdrop.

How to do it with a Ledger Nano X hardware wallet:

Whenever possible I use a Ledger Nano X hardware wallet, so here are the steps I followed.

Note: Ledger Live does not support CRO ERC20 Ethereum, so I used https://mycrypto.com to view and transact with my CRO on the Ethereum network

Move the CRO you want to use to your CRO wallet within the Crypto.com app
Set up an Ethereum account in your Ledger if you haven’t already done so
Send your CRO to the Ethereum address (shown in Ledger Live). Send it as ERC20 (this is important!)
Go to https://mycrypto.com and select ‘Take me to MyCrypto’
Connect your Ledger and access your wallet (use the option ‘Ethereum on Ledger’)
You will now be able to see your CRO
Wait for the hard fork (due by the end of Q1)
You will then have ‘P CRO’ which is the PulseChain version of CRO
From https://mycrypto.com move all your CRO back to Crypto.com (from here, I’ll move all mine back into DeFi)

When doing the above, I recommend testing the transfers to/from the Ethereum address with a small amount of money before sending a large amount.

How to do it without a Ledger hardware wallet:

If you don’t have a hardware wallet, you can follow these steps:

Move the CRO you want to use to your CRO wallet within the Crypto.com app
Set up an Ethereum account on a wallet if you haven’t already done so
Send your CRO to the Ethereum address. Send it as ERC20 (this is important!)
Access your wallet to see your CRO (if you have any issues, use https://mycrypto.com)
Wait for the hard fork (due by the end of Q1 2022)
You will then have ‘P CRO’ which is the PulseChain version of CRO
From https://mycrypto.com move all your CRO back to Crypto.com (from here, I’ll move all mine back into DeFi)

When doing the above, I recommend testing the transfers to/from the Ethereum address with a small amount of money before sending a large amount.

How can You Access Tokens on the PulseChain Blockchain?

The PulseChain blockcahin will be accessible from supported wallets, such as Metamask, Ledger and Trezor.

Sign into a wallet (with your private key phrase), set the network to ‘PulseChain’ and you will then have access to your tokens on the PulseChain blockchain.

Summary

There is a lot of interest and anticipation for the PulseChain blockchain — both from people who want it for its utility and others who are excited to get free tokens.

The value of the PulseChain variants of existing ERC20 tokens won’t be known until the blockchain goes live — there is certainly potential for utility, farming and profits to be made.

It’s an interesting ‘experiment’ that I don’t want to miss out on, so I for one am in on the action.

Want More?

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