Spring is Coming: Incentivized Testnet 2 Launching in 24 Hours
Our testnet is launching in 24 hours! In this article, we delve into the array of features awaiting to be unveiled, alongside how we are harnessing the learnings from our initial testnet to bolster our future.
Introduction
The time has come.
In 24 hours, the global Cardano community will have access to our Incentivized Testnet 2 (ITN2). This phase is crafted to garner extensive community feedback, ensuring our platform is fine-tuned to perfection as we advance towards our mainnet release. Your engagement and participation is instrumental in refining our decentralized exchange.
Reflecting on Testnet 1
Our 1st Incentivized Testnet boasted the most successful and active testnet the Cardano blockchain has ever seen, with over 200,000 successful transactions. We extend our heartfelt gratitude for the insightful feedback and active participation. Rest assured, all data and rewards from Testnet 1 are secure and will be credited as promised.
Incentivized Testnet 2: Your Participation Rewarded
As we prepare to unveil our final tokenomics, a significant reduction of TEDY tokens from 5 billion to 8 million is planned. Rest assured, all prior airdrops and rewards will be distributed proportionally.
Participate in Testnet 2 and be rewarded with a proportional redistribution of TEDY tokens. An additional 0.25% of the total token supply is allocated for this phase and will be vested over a 6 month period.
It will work like this:
All swaps, add liquidity, and remove liquidity functions will be counted as 1 point.
If there are, say, 2,000 points at the end of the testnet, and you earned 100 points, you will get 5% of the rewards (100 divived by 2,000) — totaling 1,000 TEDY. Botting will be monitored and disqualified subject to team’s discretion to ensure all community members have a fair chance to participate.
Teddy Bears Holders Boosted Rewards
All Round 1 Teddy Bears Club holders will receive a 5% bonus per NFT on their total score for the ITN2.
All Round 2 Teddy Bears Club holders will receive a 2% bonus per NFT on their total score for the ITN2.
For example, if you hold one Round 1 and one Round 2 Teddy Bears Club NFTs, you’ll earn a 7% (5% + 2% = 7%) bonus on your total score. If at the end of the testnet competition you have 100 points, you will be given 107 points increasing your share of the TEDY tokens available for the Incentivized Testnet 2.
The testnet is planned to be live for 10 days starting from the launch date.
Our Incentivized Testnet 2 will be deployed with a simplified UI which will allow us to quickly launch mainnet, and then continue building additional features to fulfill the full TeddySwap vision.
Post Mainnet Features
After the successful deployment of our v1 mainnet, our roadmap is enriched with a slew of innovative features aimed at providing a seamless and informative trading experience.
StableSwap
TeddySwap will be primarily focused on trading pairs between stablecoins. In the meantime, our v1 mainnet launch will focus on ADA/stablecoin pairs such as ADA/iUSD, ADA/cBTC, ADA/DJED, ADA/HOSKY (joking), and so on. Following our mainnet launch, we’ll release our stableswap roadmap and estimated time of delivery.
Derivatives
In addition to stablecoins, our team is exploring adding derivatives to our platform, which would allow community members to speculate on the future price action of Cardano native tokens via the buying or selling of derivative contracts without holding the underlying asset.
Our team has already built a preliminary architecture and is working with other Cardano contributors to fine-tune and complete our research.
Realtime Charts for Market Price Data
Empowered by TradingView, our platform will host real-time charts, delivering comprehensive market price data, aiding in informed decision-making.
Mempool Transaction Chaining
Experience instantaneous swaps and data updates with our Mempool Transaction Chaining integrated into the UI, ensuring a smooth and rapid trading experience.
Market Ranking Dashboard
Our Market Ranking Dashboard, reminiscent of platforms like CoinMarketCap, will provide a detailed overview of market dynamics, enabling users to stay updated on market trends.
Wallet Portfolio
Manage and review your assets effortlessly with our Wallet Portfolio feature, providing a consolidated view of your holdings.
Federated Global Mempool with Open API
As part of our ambitious roadmap, we are working towards the integration of a Federated Global Mempool accompanied by an open API, aiming to democratize access to TeddySwap transactions. This federated framework aims to propel a more equitable and transparent interaction, enabling everyone to seamlessly engage with our platform. By envisaging a federated structure, we are fostering a collaborative ecosystem where transaction data is shared across a network of participants, enhancing the transparency and fairness integral to TeddySwap’s ethos.
Airdrop Tracker
As we prepare for our mainnnet launch, we have curated this airdrop and rewards tracker, highlighting all rewards available to community members. All rewards will be vested over a 6 month period starting after our mainnet launch.
As we’ve stated previously, we would like to credit the Spectrum Finance team for their open source contributions to the Cardano ecosystem. As a thank you for their efforts, all SPF holders on Cardano will be eligible for a TEDY airdrop following our mainnet launch.
Final Remarks
Thanks to our community for your support as we strive to launch our next generation decentralized exchange, focused on a world-class user experience and being the home for Cardano stablecoins.
