Flash Leverage Testnet Launches with 2,000 $CHEESE in Rewards
In celebration of the Flash Leverage Testnet Launch, CHFRY invites all community members to join our user experience journey and participate in our Testnet Feedback Campaign for the chance of winning some yummy prizes and obviously, tons of $CHEESE.
Try out the cheapest on-chain margin trading tool on testnet and stand a chance to win from the pool of 2,000 $CHEESE.
TL;DR
🗓️ Duration: Between Jan. 28, 2022, 1 PM UTC and Feb. 25, 2022, 1 PM UTC
💰 Prize Pool: 2,000 $CHEESE
Equally, split over the four-week period — 500 $CHEESE distributed at the end of each week.
🏆 Winners: 72
18 winners each week during the 4-week-period.
Rewards:
1️⃣ Top Contribution Award
Participants who offer valuable feedback and have the most interactions with the protocol:
(a) Three (3) winners each week;
(b) 92 $CHEESE for each winner.
2️⃣ Honorable Mention Award
Participants who try the testnet and offer effective feedback:
(a) Five (5) winners each week;
(b) 35 $CHEESE for each winner.
3️⃣ Lucky Draw
(a) Ten (10) winners each week;
(b) 5 $CHEESE for each winner.
Flash Leverage at a Glance
Flash Leverage is CHFRY’s very first flash loan-powered application that allows users to take leveraged long/short positions on various assets. It is the cheapest on-chain margin trading solution, in which leverage is achieved by combining several DeFi legos, using flash loans behind the scenes for margin, and lending/borrowing on lending protocols like AAVE V2.
➡️ NO funding rates.
➡️ NO platform fees.
➡️ NO custody of assets.
Just a simple, single click and you’ve got a fully decentralized leverage trading experience at your fingertips.
Learn more about leverage trading and CHFRY’s Flash Leverage in our previous blogs:
👉 Get to Know Leverage with CHFRY: https://cutt.ly/Flash-Leverage-Part-1
👉 Time to Flash Leverage on CHFRY: https://cutt.ly/Flash-Leverage-Part-2
Testnet Feedback Campaign
User feedback is extremely important and valuable for our team at CHFRY. As such, we have allocated 2,000 $CHEESE to incentivize our community members to try out the ins and outs of the product.
We would like to hear about any usability issues you may encounter while testing the product, as well as any suggestions for improvement you may have. In the feedback, please include as many details as possible to help our team understand what went wrong or what we should do better.
The Flash Leverage Feedback Campaign will last for four weeks, between Jan. 28, 2022, 1 PM UTC, and Feb. 25, 2022, 1 PM UTC. The prize pool of 2,000 $CHEESE will be equally distributed over this four-week period and rewards will be distributed to recipients by the CHFRY team at the end of each week.
Campaign Winners
The feedback campaign winners will be selected based on a couple of factors:
(1) Number of Transactions Made:
We will rank participants based on the number of operations completed in the system so that you are incentivized to put the system in a “pressurized” environment. This will help us to inspect any unexpected bugs and leaks in the system. Ranking scores are determined based on the number of eligible operations completed during the period of testing. The more operations you complete, the more scores you will attain; this will increase your chances of being selected as a winner.
An Eligible Operation for this campaign’s purposes is defined as the following:
- Short Position: Open an account; Open a position; Add margin; and Close a position.
- Long Position: Open an account; Open a position; Add margin; and Close a position
(2) Feedback Provided:
Another very important criterion to be considered is your feedback. We ask you to provide us with meaningful and valuable insights that concern the CHFRY Flash Leverage product. Special points will be awarded if you also make suggestions on how we can improve.
There will be in total 32 feedback campaign winners across Top Contribution and Honorable Mention Awards.
(1) A total of 12 Top Contributors will be selected (three winners every week) and each will be rewarded with 92 $CHEESE.
(2) The Honorable Mention Award will be given to 20 participants (five winners each week), and they will each receive 35 $CHEESE.
We will hold a weekly community call to announce the winners of each week every Friday at 1 PM UTC.
Get Started Now
Step 1: Get Testnet Coins
- Install the Metamask chrome plugin and select the Kovan test network
- Get ETH: https://faucet.paradigm.xyz/ or https://ethdrop.dev/
- Get DAI: https://chfry-finance.github.io/manager-page/?ENV=kovan
Step 2: Try out Flash Leverage on Kovan Testnet
Step 3: Submit Feedback After Testing
(a) Write your feedback on your experience with the testnet and post it in the #feedback channel on CHFRY’s Discord.
(b) Fill up the Google form ➡️ https://forms.gle/nhqsRwL2ennkNFWg6
Lucky Draw
To engage more community members, at the end of the weekly community calls, we will hold the lucky draws and select 10 additional winners who will each be rewarded with 5 $CHEESE.
There will be in total 40 lucky draw winners across a four-week period.
Want to enter the weekly draw? Here are two simple tasks that you need to complete:
(1) Fill up the Google form ➡️ https://forms.gle/PTNAsnRWjPUzF9Zu6
(2) Like, comment, and QRT the pinned Tweet with the following text:
#FlashLeverage is the cheapest on-chain #leverage #trading tool powered by #flashloans: https://test-kovan.chfry.finance/#/flash/long
Participate in the #CHFRY Testnet Feedback campaign to win from the pool of 2,000 $CHEESE
@chfryfinance
Reward Distribution
If users win either of the above awards, rewards will be sent to their ERC-20 wallet addresses within (3) days after the winner’s announcement.
