LandX “Dress Rehearsal” Testnet Announcement — Start 5 December 2022
Congratulations to everyone that participated in the recent testnet trading competition. We are very grateful for your participation.
LandX will carry out one final test before going live, a dress rehearsal launch on Ethereum’s Goerli testnet.
Our aim is to launch the protocol with conditions as close as possible to what will occur on Ethereum mainnet.
This will allow our developers and team to have a complete system launch and ensure we have done everything possible to ensure the system is secure and ready for mainnet and all pieces of the system are working in sync.
This will also allow our community to see the latest developments which weren’t part of the last deployment and have another trading competition with more realistic market conditions.
The launch will take places over two key stages:-
LNDX Testnet Token Launch
The testnet LNDX token generation event will take place with priority given to Omega & Alpha farmers followed by whitelisted addresses. Any addresses whitelisted in the testnet launch will also be automatically added to the whitelist for mainnet launch.
Testnet allocations for Omega & Alpha farmers are guaranteed, then once the whitelisting stage goes live tokens will be sold on a first come first served basis.
Following the launch a testnet liquidity pool will be set up on Uniswap for LNDX/USDC
Stage 1 of the testnet LNDX launch for Omega farmers will go live on the 5th December.
LandX Testnet Protocol Launch
Stage two will onboard farmers, generate testnet xTokens and cToken yield. The latest updates to the testnet platform will go live. Updates include:-
- Users will be able to stake LNDX tokens on the platform
- xBasket index tokens will go live
- UX improvements
- Testnet faucet for self-serve funds and USDC conversions
We will be creating and managing liquidity pools based on our expectations of how assets will trade on mainnet. This should create more stable prices for the LandX perpetual commodity vaults.
The dress rehearsal protocol launch will go live after the testnet token generation event is complete.
Dress Rehearsal Trading Competition
The previous trading competition was a great success and it gave us the ability to monitor real user transactions.
We would like to take this to the next level for this competition with more prizes, more realistic trading conditions and we have been told the merch will be delivered before Xmas.
1st place prize of $1000 real USDC + Omega Role + LandX Swag
2nd place prize of $750 real USDC + Omega Role + LandX Swag
3rd place prize of $500 real USDC + Omega Role + LandX Swag
4rd place prize of $250 real USDC + Omega Role + LandX Swag
5rd place prize of $100 real USDC + Omega Role + LandX Swag
6th place prize of $100 real USDC + Omega Role + LandX Swag
7th place prize of $100 real USDC + Omega Role + LandX Swag
8th place prize of $100 real USDC + Omega Role + LandX Swag
9th place prize of $100 real USDC + Omega Role + LandX Swag
10th place prize of $100 real USDC + Omega Role + LandX Swag
11th — 300th place prizes of Omega Role + POAPs
That’s correct, ten cash prizes up to $1000 USDC and 300 Omega roles will be offered to the users that can gain the highest return on investment in this trading competition.
All Omega farmers will get a pathway for more perks besides guaranteed allocations on the Ethereum mainnet token generation event.
Trading will be based on the percentage return you can make in the newly minted USDC from a set date to the close of the competition. Terms will apply and be finalized at a later date.
Migrating Balances
Please note that all tokens will be redeployed including our internal USDC token.
Upon launch of the platform there will be a faucet and migration options which you can access via a self-serve application. This can be accessed via the “faucet” button on the testnet application at https://testnet.landx.fi
This self-serve application will provide two functions:-
- Testnet Faucet — Will distribute new USDC token and Goerli ETH to pay transaction fees
- Testnet Migration — This will convert old USDC token to new USDC tokens
This will enable users to receive additional funds if required and also to convert USDC balances from the previous testnet over to the new one.
Note that the trading competition will be based on return on investment as a percentage of the original starting balance. Faucet receipts and incoming funds from separate wallets will not count towards the final balance. Full terms to be released upon launch.
Finally we would like to say thank you to everyone that has participated in the building of the LandX protocol to date. We are very lucky to have an amazing community and we value your feedback and support enormously.
