Orbit: The Incentivized Testnet for DeFund Finance (Deprecated)
Up to this point, you’ve only been able to read about the potential that DeFund has to change the way we invest. DeFund gives the ability to create bespoke crypto ETFs, with nearly every tokenized asset imaginable to choose from. The potential to minimize (or maximize) your investment risk profile is an enticing concept, to say the least. Now, you can finally have a taste of what’s to come. Introducing Orbit, the incentivized testnet for DeFund Finance.
❍What is the Purpose of Orbit?❍
To test the underlying mechanisms for the creation & sale of funds, as well as the overall security & functionality of the DeFund blockchain.
🛠What is Happening?🛠
We are running an incentivized testing period that will test the core functionalities of the DeFund Network. These functions include:
Network security (staking/delegating)
Account creation (adding to Keplr wallet)
Creation of dETFs (Decentralized Exchange-Traded Funds)
Trading (purchase/sale) of dETFs
Network upgrades through governance proposals
✅Eligibility & Setup Requirements✅
You are eligible for the private portion of Orbit if you followed the instructions on this tweet before the March 13th snapshot.
Otherwise, you will have to wait until the public testnet starts at a later date.
Setup Requirements
Requirements: Keplr wallet, Laptop/PC
Airdrop rewards requirements: Complete at least 5 total transactions during each stage to earn rewards for that stage.
Validator minimum recommended setup: The minimum recommended specs on mainnet Cosmos SDK chains (thus DeFund) are 8-core (4 physical core), x86_64 architecture processor, 32 GB RAM (or equivalent swap file set up), 1 TB of storage space.
Validator airdrop rewards requirements: You do not need to be in the active set to receive rewards, however, validators who do not meet an agreed-upon activity threshold (voted on in the DeFund Discord server), as well as those showing activity deemed potentially harmful to the DeFund network will not receive their airdrop.
Make sure to join the discord and receive your Validator role to gain access to a large community of validators securing the DeFund Network!
📋Step-by-Step Instructions📋
How to get set up:
Step 1: Go to hq.defund.app
Step 2: Connect to your Keplr wallet
Step 3: Add to Keplr wallet
How to request funds from the faucet:
Step 1: Click on the Faucet tab
Step 2: Click on the Verify Twitter button in the middle of the page
Step 3: Verify your Twitter account
*Note: Make sure the authorization window only shows what is listed below. Any permissions that appear differently may be someone else impersonating DeFund. If you are ever concerned about the authenticity of something related to DeFund, please ask for help on Twitter or in the Discord server*
Step 4: Click on the Request Tokens button to receive your testnet tokens!
*Note: You will receive $FETF tokens (Fake DETF) for this testnet
How to delegate funds:
Step 1: Click on the Stake tab
Step 2: Select the validator you would like to stake your $FETF with
Step 3: Enter the amount that you would like to delegate
Step 4: Press Delegate and approve of the transaction
How to create a fund:
Step 1: Click on the Funds tab
Step 2: Click on Create
Step 3: Fill out the fund specifics (change the pool # to select between different ATOM pairs)
Step 4: Press the Create Fund button and approve of the transaction
How to invest in a fund:
Step 1: Click on the Funds tab
Step 2: Select the fund you would like to invest in
Step 3: Enter the amount you would like to invest and press the Create Shares button
*Note: Investing in funds is currently disabled and will be enabled on the first chain upgrade during Orbit.
How to vote on a governance proposal:
Step 1: Click on the Gov tab
Step 2: Select the proposal you’d like to vote on
Step 3: Submit your vote and approve of the transaction
🛣Orbit Stage Roadmap🛣
Stage 1: Validator onboarding (Began April 20th)
Validator setup instructions: https://github.com/defund-labs/defund/blob/main/testnet/private/validators.md
Stage 2: Main Private Testnet Launch (Began June 8th)
Stage 2 Alpha: Verify Account, Create Funds, Stake, Vote
Stage 2 Beta: Invest in Funds
Stage 3: Public Testnet (Start date TBA)
This is the Mainnet simulation. This is as close to the real thing as it gets while still using fake tokens. Upon full completion of Orbit, Mainnet will launch.
Airdrop rewards earned from Orbit will be distributed at mainnet genesis. Refer to this article for more info on airdrop: https://medium.com/defund-finance/airdrop-d-c2685d282858
Full Token Economics: https://medium.com/defund-finance/detf-token-economics-release-schedule-78a8d32713a5
💫What’s Next?💫
After successfully completing the Orbit testnet, DeFund will begin Mainnet with an airdrop and officially launch to the public! Dates for this are highly dependent on the success of Orbit, so these will be released over time.
*Note: The sole purpose of the current Orbit UI is to test the functionality of the DeFund chain, and does not represent the final release.
In the meantime, make sure to join our discord for more instructions, answers to any questions you may have, help getting started, and become a member of the DeFund community!
