Before you proceed to read this ZKX airdrop guide and learn about ZKX public testnet interaction, let me tell you ZKX is in its very initial stage, and the platform though audited may still be prone to smart contract hacks. Use a separate wallet where you would be holding small amounts only. Also, the ZKX airdrop like any other airdrop is not confirmed yet.

ZKX Protocol is a perpetual trading protocol that was founded in 2022 and has quickly risen in popularity. The protocol offers users with many benefits and owing to the massive potential it has, the company has already raised 4.5 million dollars in their very first seed round. Recently they announced that their new public testnet is now live on the platform and is up for users to interact with it.  Testnets have been a popular mechanism in the crypto industry for a while now. By interacting with the ZKX Testnet, you can not only get an experience of the platform but also get a chance to earn some ZKX token airdrop as rewards.

In today’s article, we will be covering the ZKX protocol, and the details of its recently launched public testnet and will guide you through how you can interact with it and how you can be eligible for ZKX airdrop.

zkx public testnet

An Overview on the ZKX Protocl?

ZKX Protocol is essentially a perpetual futures decentralized exchange (DEX) built on Starknet. It is the first platform of its kind on the network and works towards driving forward user control via the means of self-custody & community governance. One of the primary objectives that ZKX has set out to accomplish is the establishment of a truly decentralized & permissionless environment in which layer two derivative tradings can thrive.

ZKX protocol

On ZKX, you can easily trade virtual assets in a safe and secure manner whilst also holding control over your funds. They allow users to gain USDC as a reward for interacting with the platform through trading and staking. The greater your participation is with the protocol, the more are the amounts of advantages and premium features you get access to on the exchange.

The Starknet has a huge role to play in the success of ZKX. The network not only powers it but also lends the platform its ZK-STARK technology. The node network put in place by ZKX is top notch, and contributes to the unparalleled scalability offered by the protocol. As a platform, they are trying to build in many sectors and deliver products like Trading Rewrads, Liquid Governance, Layer 2 scaling with StarkWare, and a Novel Architecture.

What sets ZKX apart from the other regular decentralized exchanges (DEXs), is its one of a kind risk management approach. They have a Deleveraging system in place which enables users to reduce their losses in a scenario where they might be facing severe and sudden shifts n the market. Their approach is also towards a more open sourced atmosphere and the ZKX team has also stated: “We believe in building it in the open. The ZKX smart contracts are open-sourced so you can take a peek at what we have been grinding on day and night. To follow the ethos of the community & buidl together w/ you is all we want”

Who is the team behind ZKX?

The ZKX Protocol has a team of really talented individuals working towards developing the project.

The leading positions are held by the following people:

  • Eduard Jubany Tur, who is the Co-Founder and the Chief Executive Officer (CEO)
  • Naman Sehgal, who is the Co-Founder and the Chief Operating Officer (COO)
  • Vitaly Yakovlev, who is the Co-Founder and the Chief Technology Officer (CTO)

You can read about their team and origins on their blog on Behind the Scenes at ZKX 

Who are the Investors of ZKX Protocol?

ZKX Protocol has received backing from multiple renowned names in the industry. In the second quarter of 2022, they raised a Seed fund of around 4.5 million dollars.

Their investors include popular entities like:

  • Orange DAO
  • Amber
  • Crypto.Com
  • Huobi Global
  • Hashkey Capital
  • 紅樓 資 本 Red Building Capital
  • Angel DAO
  • DWEB3
  • Caballeros Capital
  • Cluster
  • Gate.Io
  • Unicorn Hunter
  • Sharding Capital
  • Serafund

ZKX Protocol Goals and Roadmap for 2023

The ZKX platform has a well established roadmap set in place for the year 2023.

In the first quarter they aim to achieve the:

  • Launch of CIP – Community Incentives Program
  • Testnet release on Starknet
  • Technical Papers

In the second quarter, they plan on:

  • Launching StarkWay, the universal ERC-20 bridge to StarkNet

And finally, in the third quarter, they seek to accomplish the:

  • Token Launch
  • Mainnet establishment

ZKX Airdrop: Why I think it is likely?

Most of the derivative crypto trading exchange mostly have rewarded their early users in some for or others. Be it GMX, GNS, Zigzag or DYDX. Interacting with ZKX.FI may also earn you STARK token, though some says, the snapshot it already taken (but I would like to think otherwise).

Also you are not needing any money to interact. If you spend 5 minutes per day, that should be enough. However, the more you interact, the better chances for you to get more rewards.

Now that we have learnt about ZKX possible airdrop, let us learn how to interact with ZKX testnet.

ZKX Testnet: How to Interact with ZKX Testnet?

With the phase 2 of the new testnet launched by ZKX, they are offering users a wide range of opportunities. In order to get them, you just need to interact with the ZKX testnet and give feedback.

ZKX Testnet opportunities

Some of the things users can get in the phase 2 of the testnet are:

  • More than forty new & exciting quests
  • Access to OG level roles with potential rewards in the form of $ZKX tokens in the near future
  • And some profitable Yakuza NFTs.

Features of ZKX Testnet

  • The new testnet has to offer some really intriguing features like
  • Three UI options
  • Two trading pairs
  • A Leverage of upto 20x
  • Around six types of market orders (Market order, Limit order, Stop Limit order, Stop the Market order, Take Profit Limit order, and Take Profit Market order)
  • A Leverage slider
  • The ability to onboard directly from Layer 1
  • An innovative funding rate mechanism

How to interact with the ZKX testnet?

Interacting with the testnet of ZKX is a rather simple process. You can follow the detailed step by step guide given below to efficiently participate in the testnet.

Step 1: Setting up your wallet

  1. If you don’t already have a meta mask wallet download it by clicking on this link and setting up an account
  2. Next, visit the Chainlist website by clicking on
  3. On the top right corner select connect wallet and choose the wallet you would wish to link
  4. Approve all the pop ups and signature requests so that your wallet gets connected
  5. Now In the search bar type Goerli, and then click on Add Chain under the first result. Approve the pop up notifications from your wallet in order to add this chain also to your wallet

This step is required only if you do not have your wallet configured to have the Goerli network in it.

Step 2: Request some funds

  1. Visit the official website of the Paradigm MultiFaucet through this link:
  2. Click on sign in with Twitter
  3. Approve the authorization notification from Twitter
  4. Copy your Ethereum address from your wallet and paste it into the search bar
  5. Click on claim
  6. Approve the pop ups from your wallet and you would have received the funds

Step 3: Connect Wallet to the testnet

Zkx protocol wallet linkage

  1. Visit the official website of the ZKX platform here
  2. Click on Launch Testnet
  3. On the top right corner click on Connect Wallet to link your preferred wallet to the testnet. You can choose from Meta Mask wallet, Wallet Connect and Coinbase wallet
  4. Click on the wallet of your choice. Approve the pop ups from your wallet and switch the network
  5. Select Link Wallet and authorize the notification from your wallet.
  6. Now you just need to wait until your layer account is automatically created. You will also be automatically credited with 10,000 USDC once the account creation is successful.

Zkx trade

Step 4: Trade on the ZKX Testnet

  1. Visit the official website of the ZKX platform here
  2. Click on Launch Testnet
  3. Now that your wallet has been connected, and you have an account you can trade on the testnet.
  4. In the top menu bar click on trade to go to the trading section
  5. Choose a trading pair
  6. Go to the section called account.
  7. Choose between the Open and Close positions and also select the type of order you want to either close or open. You can opt for either a limit order or a market order
  8. Enter the desired leverage amount
  9. Look at the details of the trade and then click on either open long or open short.
  10. Authorize the approval pop ups from your wallet to complete the transaction

Repeat this multiple times by opening different Long or Short Market or Limit positions and closing several of them.

Step 5: Submit a feedback on their discord server

  1. Access their discord server through this link invite:
  2. Click on Accept the invite to join the server and then select Go to discord
  3. In the bottom right side click on complete and tick the tick box next to I have read and agree to the rules once you are done going through the terms and conditions.
  4. Then click on submit.
  5. Now you can submit a feedback on discord

Step 6: Submit a feedback on their main website

  1. Visit the official website of the ZKX platform here
  2. Click on ‘Launch Testnet’
  3. Select the “?” button located on the right hand side.
  4. Click on “Provide feedback” from the drop-down menu and then choose a category to share your feedback.

Step 7: Join ZKX protocol on Crew3 and complete steps

Additional but important step is to join ZKX protocol on Crew 3 and complete all the steps. You can join ZKX Protocol on Crew 3 here.

There are once, weekly tasks that takes a few minutes to complete. Everyday, if you give 5 minutes, you should be able to earn more points. Keep doing this everyday and level up.

Why should you interact with ZKX.FI interact?

Interacting with ZKX.FI testnet is free, and you do not need any money or crypto to play with. Being an early user, and interacting with the platform, you can reserve your chances of getting rewarded in the form of airdrop, when they launch a token. Though not confirmed yet that you will get ZKX airdrop tokens, but this is the route that most of the crypto companies walk into.

To Conclude

The ZKX protocol is definitely a newer project, but it has a huge potential in store for the users. It has the ability to truly bring in the benefits of decentralization into the crypto world and help us take advantage of it. By interacting with their testnet in an efficient manner you can easily become a part of the network. This can prove to be the jump you need to make from a CEX to DEX. ZKX claims to fulfil all its promises and make sure your assets are completely safe via the self custodial system that they have in place while allowing you to “Trade perpetual swaps like never before”.

At Crypto Bulls Club we have covered a wide range of Testnets and given you guides on how to interact with them.

Also Read about: