Testnet Analysis: Discoveries and Development

As a project set to revolutionize perpetual trading and make it easily accessible to the masses, Parifi has a clear focus on efficiency and seamless UX. As such, the journey towards its full launch involves critical steps to refine the platform. In the initial phase, the Alpha Testnet played a crucial role in engaging the community for feedback and testing platform capabilities.

Now that it’s completed, here’s a rundown of the Alpha’s progress and conclusions.

Alpha Overview:

The Alpha Testnet’s objective was to familiarize users with Parifi’s features and identify bugs or issues early. For efficient organization, the Testnet was structured into three phases, each focusing on specific functionalities:

· Phase 1: Account Abstraction — aimed to get user feedback on UX, login methods and to identify any potential issues or error messages

· Phase 2: High Leverage. Since high-leverage trades have a more significant chance of being liquidated with small fluctuations in token price, this was a crucial phase. The goal was to discover any potential UI/UX issues/friction with the opening fee and leverage calculation and ensure liquidations ran smoothly.

· Phase 3: Liquidity Provision. Centered around Parifi vaults, this phase introduced users to the enhanced liquidity provision within the platform, getting them acquainted with the locking mechanisms and discovering the truly passive nature of the vaults and the advantage of automatic value accrual.

The valuable feedback from these phases led to an extension of the Testnet, ensuring comprehensive participation and issue resolution.

Key Findings from User Feedback

The high level of user engagement was extremely helpful, as traders and LPs have thoroughly tested every section of the platform, delivering valuable insights.

The 3217 entries in the feedback form have revealed valuable insights:

Key takeaways:

• Discord was the preferred communication channel
• X (Formerly Twitter) emerged as a significant discovery platform for Parifi.
• The average user rating for the Alpha Testnet experience was 8.65
• Identified issues included wallet connection delays, unlisted closed orders, slow transactions, and navigation difficulties on mobile devices.
• Users equally appreciated the UX, Account Abstraction, and innovative pricing mechanisms.
• Many users tried Account Abstraction using Social Login, mostly Google and X (formerly Twitter).
• Suggestions for improvement included adding altcoins, implementing a day/night mode, and providing rapid liquidity withdrawal options.

The platform’s feature request system on Canny.io also served as a significant source of constructive feedback. Some of the suggestions have already been implemented, like the ability to specify the asset amount directly when opening positions and switching to its chart with a single click from the positions menu. Others are under review or already planned, like SL & TP and Swap & Bridge.

Every one of the problems reported has been analyzed and addressed, making the Alpha a successful and useful testing phase.

Bug Detection and Future Optimizations

Concerning bug detection, the majority of the reports highlighted interface-related issues, such as lags during transitions from perpetuals to pools, delayed confirmation pop-ups, and visibility challenges on mobile devices.

In response to this feedback, significant enhancements have been made to the Parifi interface. These improvements will be evident in the Beta Mainnet phase. Looking ahead, our optimization strategy includes developing an SDK for seamless integration and analyzing a cross-chain approach to enrich the trading experience.

Performance Metrics Revealed

In closing, the Alpha Testnet statistics looked great, having met the initial goals: having as many trades open and deposits done, with positions on all markets and every feature tested by as many users as possible.

Here are the final stats:

• Trading volume: $413,416,019
• Active users: 6583
• Trades: 18042
• Total fees: $3,232,823
• Top performing markets: ETH, BTC, ARB

The Power of Community Involvement

User input has been vital every step of the way and highly useful in making the necessary adjustments and additions so that the platform can deliver all the functions the community needs.

Apart from the feedback form, the Feature Request on Canny.io also gathered valuable insights from platform testers. Following those requests, Swap and Bridge are under review, and SL and TP are already planned. Furthermore, every single suggestion is carefully analyzed, and they play an essential part in shaping Parifi into the platform users need, down to the smallest details.

A fiat on and off-ramping is also under development. Once implemented, it will enable seamless conversion between fiat currency and USDC, simplifying access to perpetuals even more.

What Are the Next Steps?

With the Alpha Testnet and the LBP completed, the next important element on the roadmap is the Beta Mainnet. This phase will test the platform even further, helping us discover any unforeseen issues and address them to be fully prepared for the full launch. Unlike Alpha Testnet, Beta Mainnet will launch with conservative limits, meaning it will enable real-world performance evaluation with minimized user risks.

Then, the moment all these phases have been prepared will come: the platform’s final deployment without limits on the mainnet.

Community-Driven Success

Overall, the Alpha Testnet was a success and provided an excellent starting point for the platform’s launch. As typically happens with testnets, some issues have been detected and are being addressed in preparation for Beta on the mainnet.

The community’s role at this stage has been crucial, contributing to a realistic portrayal of the platform at this initial phase. As Parifi progresses, user feedback will remain invaluable, especially during the Beta phase.

All these steps are essential for shaping Parifi into the platform’s perpetual trading needs: efficient, user-friendly, and easily accessible. Parifi extends its gratitude to all participants for their valuable insights and looks forward to continued collaboration in the upcoming phases.