How to Participate in CasperSwap Testnet and Earn Rewards
On February 2nd 2023, CasperSwap announced that their testnet is now live. This testnet is built on Casper Network which in itself is a very good protocol. In fact, in the last few days, we have also seen that the price of the network is rising steadily. The new Testnet reward is expected to last for around 4 weeks and you will be required to register and participate in the testnet to gain these rewards. In this article, we are going to cover everything that you need to know to go ahead with this launch.
What we are going to learn?
What is CasperSwap?
CasperSwap represents a revolutionary approach to decentralized exchanges as it operates as the first automated market-making protocol on the Casper Network. Unlike other exchanges, CasperSwap leverages a constant product formula implemented through non-upgradeable smart contracts to ensure a high level of security and censorship resistance.
One of the key advantages of CasperSwap is its automated liquidity protocol, which is designed to function without the need for trusted third parties. By prioritizing decentralization, CasperSwap has effectively eliminated the need for intermediaries, thus reducing the risks associated with centralized exchanges.
Another significant feature of CasperSwap is its open-source software licensed under the GPL. This means that the source code is freely available for anyone to inspect and modify, making it an attractive option for developers who want to build on top of the Casper Network.
This is what the team said as it announced its testnet reward program,
“At CasperSwap, we are dedicated to building an open, transparent, and efficient solution for protocols to incentivize liquidity for their own use case, for liquidity providers to earn fees and competitive rewards, and for traders to swap assets efficiently. Since the start of the CasperSwap community in December 2022, we’ve seen steady and strong growth on our social channels, like Twitter, Discord, and Telegram. While we are heads down building the decentralized solution of trading and liquidity-providing infrastructure on Casper Network, we would love to hear your feedback to build better. Thus, we are now launching the CasperSwap Testnet Reward Program. We look forward to receiving your feedback and integrating your suggestions!”
How will the Testnet Rewards Program be conducted?
To participate in the CasperSwap Testnet Program, you can register starting February 2, 2023, at 10:00 am Eastern Time by completing the registration form. The registration form for the CasperSwap Testnet Program will be open until March 2, 2023, at 10:00 Eastern Time. The team will also take a screenshot of the most liked testnet feedback tweet that meets the listed requirement. The CasperSwap Canaloa NFT campaign will begin on March 3, 2023, at 14:00 Eastern Time.
After the registration form is closed, the CasperSwap team will carefully review all entries and select the winners. Then they will announce all winners during the week after the registration form is closed, so remember to stay tuned!
Please note that any spam or Sybil attack will result in an immediate disbarment from the program and all the CasperSwap events that will come up in the future. The platform values and appreciates honest feedback from genuine contributors as it aims to create a safe and secure environment for all participants. Hence keep this in mind before going ahead with your entries.
The team also added that:
“There will be 4 weeks to fill out the form and create qualified content. We want to provide community members ample time to report detailed feedback while we work on fixing bugs and integrating suggestions. Each user will only be eligible to complete the form once, so please bear that in mind before sending your submission; any extra submissions from the same user will be disqualified.”
How to complete the registration process?
The registration step is the most vital for you to be able to participate in the testnet rewards program. By following the given steps you can take a step closer to being eligible for many rewards.
To get started, please check out the testnet by visiting the provided link. After trying out the platform, it is necessary that you provide your valuable feedback by filling out the testnet feedback form. This is a very important step because it is on the basis of the feedback that the rewards will be distributed.
There are a few ways you can share your feedback with them. Firstly, you can simply leave your feedback directly on the form. Alternatively, you can write a well-composed Medium blog post about your experience, or even create a YouTube video on the same. We have attached an example Medium blog as well as a YouTube Video at the end of this section that can work as a reference point for you. If you choose to use Medium or YouTube, don’t forget to include the link in the feedback form.
Once you’ve submitted your feedback, please take a moment to share your submitted feedback with CasperSwap on Twitter. To do so, tag them @casperswap and include the hashtag #CasperSwapTestnet. This way, the team can easily find your feedback and consider it for the Testnet Reward Program.
What rewards is the program offer?
The Testnet Reward Program offers an exciting opportunity for participants to win double rewards in the form of USDC and NFTs. The USDC rewards will be awarded to five (5) winners who will be selected based on their contributions to the program.
The first category is for the Best YouTube Feedback Video Producer, who will receive 200 USDC for their contribution. The video should provide valuable feedback on the CasperSwap testnet.
The second category is for the Top 2 Best Medium Feedback Writers, who will each receive 100 USDC as a reward for their well-written feedback on the testnet.
The third category is for the team elected Best Feedback Registration Form Creator, who will receive 50 USDC for their contribution to the program.
Finally, 50 USDC will be awarded to the participant with the Most Popular Tweet that includes the hashtag #CasperSwapTestnet and valid feedback on the testnet. It’s important to note that as we mentioned earlier, any attempts at Sybil attack or spam activity will result in disqualification from all future CasperSwap events.
Every participant who successfully submits the feedback registration form with relevant and valid feedback content will have the opportunity to mint a limited-edition CasperSwap Canaloa NFT.
This exclusive and unique digital asset will commemorate your participation in the CasperSwap Testnet Program, and we highly encourage all participants to take advantage of this fantastic opportunity to obtain a one-of-a-kind CasperSwap Canaloa NFT.
By holding the CasperSwap NFT, you become one of the earliest and most loyal supporters of the platform. This NFT will serve as a symbol of your contribution to the CasperSwap Testnet Program and as a key to redeeming future benefits and rewards. The CasperSwap Canaloa NFT is also likely to grant you exclusive access to upcoming advantages and prizes, which we believe will further enhance your CasperSwap experience.
How to use CasperSwap?
To interact with the testnet you must also learn how to make swaps on CasperSwap. Hence we have provided a brief guide on how you can do so. In this case, we are using the Signer wallet but you can also use the Torus wallet if you wish.
The first step is to head to CSPR live website (click here). Then go to “sign in” and then you will be able to see the Casper Signer option. Download this extension and sign in with the wallet to move ahead with the process.
To execute a swap on CasperSwap, the next step is to obtain CSPR testnet tokens, which can be done by visiting the Casper Faucet. To access the faucet, sign in to your wallet and go back to the CSPR live website. Click on the “Tools” tab and select the “Faucet” button or follow this link directly. From there, you can request up to 1K CSPR testnet tokens. Once you have obtained the tokens, you will be ready to execute your first swap on CasperSwap.
Now head to CasperSwap and connect with your Signer wallet. To connect your wallet to the CasperSwap app, click on “Connect Wallet” and a pop-up will appear, asking you to select which wallet to connect. Currently, CasperSwap supports Signer Wallet and Torus Wallet. Once you have successfully connected your wallet, you will see your public account key displayed in the top right corner of the screen, indicating that you are now connected.
Now clock on the “Swap” option on the left and put in the number of tokens that you want to swap for another one. Then click on “Swap” at the bottom and after you have approved the pop-up, your transaction will be executed.
You can also provide Liquidity in a similar manner.
In summary, CasperSwap is a groundbreaking decentralized exchange that provides a secure and decentralized trading experience powered by automated liquidity protocols and smart contracts on the Casper Network. You can easily participate in their Testnet Rewards Program and stand a chance to win many rewards.