Incentivized Testnet: How to Participate?
After months of hard work, laborious testing, and fine-tuning, we’re excited about the launch of our all-new trading experience with faster price feeds, new pairs, and cleaner UI. It’s now live on Arbitrum Goerli testnet and ready to be stress tested by community members and traders before we transition to Mainnet!
The testnet will be incentivized for the coming 8 days, starting from 12th January 4:00 pm UTC to 20th January 4:00 pm UTC. Once the testnet concludes optimistically, Up/Down trading would be live on Mainnet on 21st January 2023.
Link to testnet: https://testnet.buffer.finance/
What do incentivized testnet participants get?
- The top 5 winners will receive 100 $BFR tokens each every day the testnet runs. The ranking is based on the highest total payout.
- Link to the leaderboard — https://testnet.buffer.finance/ARBITRUM/leaderboard/0/incentivised
Note — Only traders with 5 or more trades from one wallet would be considered and no more than 500 USDC can be claimed every 24 hours
You can give us your feedback directly in the testnet channel on Discord.
How to participate in the testnet?
Step 1 — Set up your MetaMask
The testnet contracts are published on the Arbitrum Goerli test network, so we need to ensure we are connected to this particular chain.
Head to the testnet “Trade” Page and click on the “Connect” button on the top right area of the interface.
The Goerli RPC details are registered automatically within your MetaMask or another popular wallet when you click the “Connect” button.
Step 2 — Get Goerli ETH Tokens
To start interacting with the dApps, we first need some Test tokens i.e. Goerli ETH will be converted into AETH, and the other test token is USDC for placing trades on the testnet.
Many faucets are available online, but we recommend any of the three on the “Faucet” page.
To fetch your test tokens, go to the “Faucet” page, and click on one of the three listed faucets of your choice:
1: Using the Goerli faucet: https://goerlifaucet.com/
- Requires signing up/logging in using an Alchemy account.
2: Using the Goerli Mudit faucet: https://goerli-faucet.mudit.blog/
- Requires users to make a tweet using the tweet template linked on the faucet’s page under the “How does this work?” section.
- Users also need to paste their Ethereum address into the tweet template to receive funds using this faucet.
3: Using the Paradigm Multifaucet: https://faucet.paradigm.xyz/
- Requires users to sign in with their Twitter accounts.
- To successfully receive funds using the faucet, the user’s Twitter accounts should have at least 1 Tweet, 15 followers, and be older than 1 month.
Once you complete the actions specified by the chosen faucet, Goerli ETH should arrive in your wallet within the next minute or so.
Step 3: Bridge Goerli ETH to Arbitrum ETH or AETH
Go back to the “Faucet” section on Buffer Testnet, and click on the “2. Bridge GoerliETH to AETH” button.
You will be directed to the Arbitrum Bridge. Connect your Goerli L1 ETH to Arbitrum’s Goerli Testnet on layer 2 by connecting your wallet to the Arbitrum Goerli bridge.
Click on “Move funds to Arbitrum Goerli,” and make sure to leave some Goerli ETH for transaction fees.
Once the transaction has been executed, you should have AETH in your wallet after some minutes of processing.
Step 4: Claim Testnet USDC
Once again, hop on to the “Faucet” section, click on the “Claim 500 USDC” button and confirm the transaction. Once processed, you will have 500 Test USDC in your wallet.
Now, head back to the “Trade” page, and click on the “Approve” button to allow testnet contracts to spend your test USDC.
Now, you’re ready to place your UP/DOWN trades (crypto/forex) on testnet with BLP V2 acting as the counterparty.
Step 5: Select the asset you want to trade
To open a position, choose an asset from the asset drop-down menu on the top left-hand corner of the “Trade” page or from the list of “Watched Pairs section.”
Step 6 — Choose the desired timeframe
You can choose the Timeframe from the “Select Duration” box on the right-hand side of the dashboard.
Step 7 — Choose your Trade Size
You can choose your USDC investment in the “Trade Size” box.
Step 8 — Choose the direction — Up or Down.
Once you open Up or Down positions, you are ready to open a trade. Once a position is opened, you will need to wait until the end of the expiration time to receive the result.
And that’s it, we’re excited to hear your feedback on our discord channel — #testnet. We will use your feedback to create the most intuitive and easiest-to-use options trading experience known to degens. Your feedback is how we strengthen the protocol and bring us closer to the Mainnet launch.