Burnt Finance
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Burnt Finance

Burnt Finance Launches the Spark Incentivized Testnet

The first ever incentivized testnet is now live on Burnt Finance with a total $20,000 prize pool up for grabs! To start simply begin by using Burnt to mint and transact NFTs. Complete details can be found below.

The competition will be held for one week, from Nov 30, 2021 at 12:00 PM EST (5:00 PM UTC), to December 7, 2021 at 12:00 PM EST (5:00 PM UTC).

Get Started

All users can receive devnet Solana to participate here https://Solfaucet.com. No real funds need to be used to enter the competition.

Background

In September, we kicked off the private version of the Spark Testnet with a public early access release following soon after.

We said it before “The first cohort of users on Spark will play a crucial role in shaping the future of Burnt Finance itself. Feedback from the community will help to further iterate Spark before the Inferno mainnet is released in the coming weeks”. And we meant it.

Since our launch of the Spark Tesnet, we have been immensely grateful for the community feedback. Not only did it help us to optimize Burnt but it also allowed us to create the most advanced decentralized auction protocol in the market today. The feedback led to a rollout of our on-chain collection standard, profile functionality, search features, and many upgrades we have made since the initial release.

The Spark Incentivized testnet will mark the final phase of the testnet while also offering competitive rewards to users for their help in improving the protocol even further.

Rewards

The incentivized Spark testnet will consist of two separate competitions with an overall prize pool of $20,000 USDC.

Transaction Number Contest

The transaction number contest is based on the number of transactions you have made on Burnt. Transactions include buying or selling an NFT.

For example, if User A makes 1,000 transactions and User B makes 900 transactions, user A will win even if the total value of User B’s transactions were higher.

The reward structure is as follows:

Transaction Volume Contest

The transaction volume contest is based on the total value of the transactions you have made on Burnt. Transactions include buying or selling an NFT.

For example, if User A makes $10,000 transactions and User B makes $9,000 transaction, user A will win even if User B made more actual transactions.

The reward structure is as follows:

All winners will be announced via the official Burnt Twitter account.

Access

Access to Spark test net has now officially opened for everyone! Try it out here.

Community Resources

  • Live Help from the Burnt Team on Discord: Link

About Burnt Finance

Burnt Finance is the first fully decentralized NFT auction protocol on Solana. Burnt allows users to take auctions into their own hands, enabling the minting and trading of any NFT in an entirely permissionless ecosystem. The platform can support auctions for NFTs, digital assets, synthetics and much more. Given its unique Solana-based architecture, Burnt is able to achieve the fastest transaction speeds with negligible fees.

Discord | Twitter | Telegram Announcements | Documentation

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Burnt allows users to take auctions into their own hands, enabling the minting and trading of any asset in an entirely permissionless ecosystem. The platform can support auctions of synthetics, NFTs, digital assets, and much more.

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