PowerPool Alpha launch: 100 testers are in!
We are proud to announce that the first round of our protocol launch is going live tomorrow!
It was tough to select the first 100 members for the first phase of the testnet. We had the following selection criteria: long term vision and massive support from different sides, such as liquidity provision, community building, and support on a technical side. The previous #Defi experience and perception of sustainable ecosystem development were additional points.
We trust you and see long term holders that have a solemn mission to complete! The first phase of the testnet — the Alpha round will start on Monday and last for 2 days.
Alpha round launch is planned for approximately 11 a.m. PST. We will make an announcement on Twitter prior to launch.
The testnet/babynet phases redesign
Due to the enormous amount of applications (we got more than 2000 requests in one week), we decided to slightly re-design our protocol testing approach. Now it is divided into three main stages to test specific functions in each round and allow more people to participate:
The Alpha round.
In the Alpha round, our testers will work with the protocol deployed at Matic mainnet. For safety reasons, it will be conducted with the test tokens — COMP, YFI, and LEND. During this phase, we will test the protocol’s operation in the Matic mainnet environment, correct work of all basic functions, and UI/UX. Matic tokens will be airdropped to all participating wallets using the grant, provided by Matic.
Alpha round is two days of intensive work, testing, and bug reporting. We will distribute 5% TTS in equal amounts to each person participating. We kindly ask all our testers to join in the protocol development during the testing round and right after it actively.
The main goal of token distribution during the Alpha round is to reward the most valuable community members and allow them to create pools on DEXes with deep liquidity ready to meet the community demand.
The Beta round.
During the Beta round, we will test the protocol using the real (not test) governance tokens. The main goal of the round is to precisely test oracles, liquidation procedures, and other tech features in Matic. The liquidity will be capped by several tens of thousands of dollars. The reward cap for this round is also 5% TTS with vesting.
The Gamma round.
The Gamma round is our last pre-launch round, which will be conducted in the Ethereum mainnet. During the Gamma round, our testers will test all protocol features, tested before but in Ethereum mainnet. The liquidity cap and reward allocation will be defined based on the results of the previous rounds. If they pass right, our current vision is to make a really high liquidity cap and distribute several percent of TTS (vesting applied) to approved liquidity providers.
The uncapped mainnet will be launched right after the Gamma round.
How to participate in the next rounds?
Don’t worry please, if you aren’t selected for the Alpha round. For each round, we will add new people to the approved testers list. As a reward, we will automatically include the most active and valuable testers for the next phase. So, participating in the Alpha round, you have a chance to be included in two or even three rounds. It entirely depends on your contribution to PowerPool development.
Drop your applications to firstname.lastname@example.org
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