Crypto Basic Income - xDai + Honey

Hope every's doing well.

Hey guys, hope you're all having a great weekend so far. This is officially my first post on LeoFinance. I've been watching it grow and definitely see the value. What I haven't see yet is anyone talking about Universal Basic Income.

What is UBI?

Universal basic income is exactly what it sounds like. It's income just for being a human. I live in the U.S. and it will probably never happen from our shit government, but have no fear. Cryptocurrency makes UBI very real and possible. You can literally get paid for being a human and proving that you're a human. How, you might ask? Well there's a few different projects offering this but I've found that the 1hive faucet on xDai sidechain is the best. xDai is an Ethereum sidechain. It has the same properties as Ethereum, but uses a different method to make sure transactions are valid and consistent across all nodes in the distributed network. Transactions are confirmed in seconds and gas fees are usually less than 1 cent. You can find everything you need to know about xDai here. Once you have verified your identity, you can claim Honey (HNY) tokens every 2 days. Currently the price per HNY is around 922 Dai or 922 USD.

So how do I get this free crypto?

I'm glad you asked. It takes a bit of setup and some patience. Once it is set up, you're good to go. I will break down the steps as simple as I can. First off, you need Metamask. If you don't already have it, you can download the chrome/brave extension here. Once you set up your wallet, you will want to send some Ether to your address. I recommend around $5 worth of Eth to cover any gas cost. Next, you'll need to add the xDai network to Metamask. To do this, simply open Metamask and click the network drop down menu at the top. Click on Customer RPC and enter the details below.

Network Name: xDai New RPC URL: https://rpc.xdaichain.com/ ChainID (Optional): 100 Symbol: xDai Block Explorer URL: https://blockscout.com/poa/xdai

Once you enter the custom RPC details, click save. Congratulations. Your Metamask wallet now has access to the xDai chain.

Now that your Metamask has access to the xDai chain, you'll need to convert some ETH to xDai. It's pretty simple and only takes a minute or 2 thanks to the ETH-DAI-xDai bridge. You have a couple options, but I opted for the burner wallet. Once here, you'll connect Metamask and switch to the Ethereum Main Network to swap your ETH for Dai. Click Exchange then click ETH to Dai. Enter the amount you want to convert and watch the magic happen. Nexy, you'll repeat but click Dai to xDai and wait for the bridging to happen. Now you have xDai and are ready to interact with xDai sidechain dapps.

Now that you have xDai in your wallet, it's time to get verified on BrightID.

You can access the 1hive Honey HNY faucet here. Once you get there, you'll need to connect Metamask as shown below.

Now that you have Metamask connected, you'll notice on the left side that you need to be verified on BrightID to be eligible for your free Honey tokens. I know it sounds like a lot of work but it will be well worth it once you get that sweet sweet raw honey. Head over to BrightID and download the mobile app. It is available for both IOS and Android. Register your account and now you're ready to get verified here. There are a few discord channels that will help you get verified. Basically, you'll join whichever time slot fits your needs and join a video chat on Discord. The BrightID team will verify that you are an actual human and send you a connection via Discord. Once your BrightID profile updates and says VERIFIED, go to QR scanner in the app and scan the QR code on 1hive faucet. This will link your unique human identity to your Metamask address. Now you're ready to get free HONEY!

Now wasn't that easy?

Every 2 days you'll have an opportunity to claim free HNY tokens. As you can see in my screenshot above, the claim for this period was 0.0051 HNY. This token number will decrease until all 187.3 left in the faucet are claims so get it while it's hot! At current price of around $922, your portion every 2 days will be about $4. Obviously, this number could go up or down depending on token prices. Being that this is a fairly new platform, I only see it going up as more and more people start using the xDai Chain.

Of course if you just want to convert your HNY back to xDai to keep the value stable, you can do that easily on HoneySwap. Honeyswap is a clone of UniSwap on the xDai chain accessible here. Gas fees are pennies, and transactions are almost instant.

I hope this guide makes things easy.

Please let me know if you have any questions in the comments. Get to claiming your FREE tokens! Thank you so much for checking out my guide.

Peace.

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