We’re stoked that we’re only 2 days away from the launch of our testnet! Please read below to learn about the rewards, how to get involved and for further updates from the team!
Testnet Participation Rewards
As we explained in our last piece, we are keeping our promise to reward those who participated in the first testnet and qualified for their MINt rewards. However, since we are aware many community members couldn’t execute all the transactions needed to get the rewards, we believe it’s fairest to commit the same amount of 5 million MINt tokens for the participants in this second iteration of our testnet. If you want to read about MINt tokens, how they differ from MIN tokens, and how to convert them to MIN, please have a look at this article.
As we mentioned previously, we have rethought and decided to change the second testnet’s incentive mechanism. We believe it is likely our last incentive mechanism was counterproductive in that it encouraged the spamming of transactions, which is not the most optimal scenario for a testnet. Going forward, we want to align the protocol’s incentives with community member’s incentives as much as possible.
Thus, the new incentive scheme will be the following: each participant that has used the testnet and intends to collect rewards will have to provide feedback. Feedback will be both:
- a quantitative series of KPIs to be set by the design team, through which we expect to gather valuable data (e.g. rate the UI from 1–10, select favorite feature…).
- a qualitative series of questions (e.g. what features would you change or add…).
All feedback received will be manually reviewed and testnet participants will be rewarded according to the insightfulness of their comments as deemed by the team. Feedback will be classified into these 3 categories with reward bonuses according to insightfulness:
- A: incredibly insightful: feedback that makes us redesign, re-evaluate, delete or add a new feature, mention of a previously unknown bug, original ideas or detailed descriptions of how the UI/UX felt, and even suggestions on how Minswap could improve as a whole moving forward (in marketing, growth, engineering or design). These users will receive a 5x bonus on their second testnet MINt rewards.
- B: very insightful: mention of a previously known bug or issue or statements that are too concise or inconsequential. These users will receive a 2x bonus on their rewards.
- C: insightful: anyone that responds to the quantitative questions exclusively. These participants will receive normal rewards.
We believe this is a better reward system than the last one, as hereby we are ensuring it’s the community members that most want to contribute to the protocol, those that are getting rewarded more. Measures will be taken to prevent bots and spamming. We will reveal how to provide feedback once we have launched the testnet, so please stay tuned on how we plan to enable that in our next announcement!
To make this initiative more inclusive and open towards those whose first native language is not English, we are planning to review feedback in Chinese and Spanish as well. More information regarding this will be published on the respective Twitter accounts for Minswap Chinese and Minswap Spanish.
How to use the Minswap Testnet
The Minswap Test Flight Mission will launch on the 25th of January. The interface to it will be available on our website: https://testnet.minswap.org/
- It will only be available through the desktop, and with the following wallets: Nami, CCVault (integration with more wallets is in progress and will be announced later).
- Please make sure you switch the network on the settings of your wallet from mainnet to testnet.
- Once you are on the DEX interface and have connected with your testnet wallet, you will be able to claim test tokens from our faucet by clicking on your address on the top right corner.
- That’s it, enjoy swapping, providing liquidity and other features!
Since it’s an incentivized testnet, we ask participants to take their time and to try as many features as possible, while bearing in mind we are expecting bugs. The duration of the testnet is not set in stone, as we rather provide community members ample time to report detailed feedback while we work on fixing bugs and integrating suggestions. As we are rewarding participants according to the insightfulness of their comments, we encourage the community to provide as much detail as possible including screenshots and accurate descriptions.
We also wanted to provide our community with a technical update as we promised to conduct a load test but this time on mainnet. As a reminder, during the last load test on testnet we managed to achieve 12 swaps per batch transaction and 4 batches (48 swaps) per block (meaning 2.4 swaps per second). This time, we conducted a more representative test, as we set up a bot to execute as many transactions as possible throughout one hour on the mainnet, which was under 90% network congestion. In that hour, we executed 56 batches, each batch processing about 10 swap orders, meaning about 9.3 swaps/minute. If you are interested, please see below the Cardanoscan link of the load test:
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