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Join Aqua Protocol’s Final Testnet: Claim The Highest Rewards Ever by Otyemmanuel(m): 8:18am On Jul 20 |
Join Aqua Protocol’s Final Testnet: Claim the Highest Rewards Ever Aqua Protocol is not a game, a farming platform, or simply a collection of tasks with rewards. It is a protocol for a highly secured decentralized stablecoin. We aim to create a sustainable ecosystem and focus on long-term development. This third version of Aqua Protocol represents the culmination of extensive development and testing efforts. Previous iterations allowed us to refine and improve the protocol, addressing compatibility issues and expanding collateral options. With the multi-collateral support in V3, Aqua Protocol is now more versatile and robust than ever before, positioning it for a successful transition to the mainnet. Application Testnet Tasks: 1. Switch your wallet to the test network: If you’re unsure how to do this, follow the instructions for the TONKeeper wallet, MyTonWallet or TonHub in the next paragraph of this article. Start the Testnet: https://zealy.io/cw/aquaprotocol/invite/2tUKS5DxyTtTDBJQHNEVY 2. Obtain test TON tokens for transactions via @testgiver_ton_bot: This bot will provide you with test tokens to perform transactions. Without them, you won’t be able to test the functionality. 3. Visit the website app.aquaprotocol.xyz. 4. Connect your wallet (CONNECT WALLET) and click on “GET TEST JETTONS”: This will allow you to acquire test staked TON tokens for use in the application as collateral. 5. Deposit test staked TON tokens as collateral (DEPOSIT) and mint AquaUSD (MINT): Essentially, you’re now borrowing AquaUSD stablecoins by staking TON tokens as collateral, similar to a pawn shop. DEPOSIT and MINT can be done either as separate transactions or together. 6. Ensure that AquaUSD is visible in the account information section after minting: This indicates that the AquaUSD minting process was successful. 7. Increase the collateral ratio (DEPOSIT more staked TON tokens) and/or repay part of the AquaUSD debt (REPAY): This will help you manage the risk of liquidation. 8. Verify that the collateral ratio has increased (COLLATERAL RATIO): This is important for your safety within the system. 9. Fully repay the AquaUSD debt and withdraw funds from the collateral (WITHDRAW): This will allow you to close the loan with the protocol and return the initially pledged funds to your wallet. 10. Attempt to redeem AquaUSD for staked TON tokens at a fixed rate of $1 (REDEEM): This will give you an understanding of what to do if the AquaUSD price on a DEX drops below $1. 11. Explore liquidation opportunities for other participants (LIQUIDATE): This will help you understand how the liquidation process works in the system. You can liquidate others and receive staked TON tokens at a discount of 9% or more. 12. Experiment with other functionalities (and another wallets) and check the fees: This will help you understand how to use the application most effectively. |
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