Join Aqua Protocol’s Final Testnet: Claim the Highest Rewards Ever
Welcome aboard to the official (and final) testnet of Aqua Protocol V3! You’re diving into history as you help test the pioneering decentralized and censorship-resistant stablecoin protocol on the TON blockchain, unlike the recently emerged and centralized USDT. Aqua will also bring more DeFi opportunities on TON. Brace yourself, because we’re introducing rewards like never before in this phase, and we’re excited to unveil all the details in this article.
What is Aqua Protocol? 🐠
Aqua Protocol is a decentralized finance platform designed to introduce a stablecoin protocol on the TON blockchain. Unlike centralized stablecoins, Aqua Protocol offers decentralization and censorship resistance, providing users with a secure and transparent alternative for their financial needs. By leveraging various collateral options such as TONcoins and liquid staking derivatives, Aqua Protocol enhances liquidity on TON and expands DeFi opportunities for users within the TON ecosystem.
Why Another Stablecoin on TON? 💲
When comparing AquaUSD and USDT on the TON blockchain, we focus on capital sources, restrictions, and target audience. AquaUSD, supported by at least 150% collateralized assets sourced from within the TON ecosystem (staked TON, low risk LPs, RWA), emphasizes stability with a peg to $1. AquaUSD offers an opportunity for anyone to mint and earn yield, catering to TON users and DeFi participants. It provides a decentralized stablecoin with unrestricted financial operations and no censorship.
In contrast, USDT relies on external fiat reserves and is backed by 106%. Only Tether has the authority to mint USDT, and it exclusively benefits from this minting. While USDT is widely accepted, its centralized nature exposes it to censorship risks. It serves a wider audience across blockchains but users may encounter access limitations.
AquaUSD provides decentralized and secure financial access, attracting investors interested in profitability and decentralization, whereas USDT appeals to those seeking stability but might face access restrictions.
Interestingly, the introduction of official USDT on the TON blockchain benefits AquaUSD by attracting new users, who may transition to DeFi users over time. Moreover, AquaUSD offers more profitable strategies for liquidity providers and arbitrage when paired like AquaUSD/USDT on DEX platforms.
Why This is the Final Testnet Before Mainnet Launch 🚀
This third version of Aqua Protocol represents the culmination of extensive development and testing efforts. Previous iterations allowed us to refine and improve the protocol, addressing compatibility issues and expanding collateral options. With the multi-collateral support in V3, Aqua Protocol is now more versatile and robust than ever before, positioning it for a successful transition to the mainnet.
Completion of Security Audit 🔍
We are proud to announce that Aqua Protocol has successfully undergone a comprehensive security audit. This rigorous process ensures that Aqua Protocol adheres to the highest standards of security and reliability, instilling confidence in our users and stakeholders. With the audit completed, users can trust Aqua Protocol to provide a safe and trustworthy platform for their financial activities.
Generous Rewards for Testnet Participants 💙
During this testnet phase, we are offering generous rewards to participants. XP earned on Zealy will be converted to AquaXP tokens, granting holders the opportunity to receive an airdrop of Aqua tokens. This incentivizes active participation in testing and encourages users to contribute to the growth and development of the Aqua Protocol ecosystem.
How to Qualify for the Testnet? ✅
Becoming an Aqua tester is straightforward! Simply head over to https://zealy.io/c/aquaprotocol/questboard and complete the quests. The following quests are mandatory and should be completed on Zealy.io:
- Follow us on Twitter 👉 @aquaprotocolxyz
- Like, retweet our tweet about the testnet with an original comment, and tag at least 3 friends 👉 [link to tweet]
- Join our official Telegram community 👉 @aquaprotocolxyzen
- Join our official Telegram news channel 👉 @aquaprotocolxyzchannelen The more quests you complete and more unique bugs you report, the more rewards you’ll receive. That’s it!
What to Test? 🥁
Web Application (Website): app.aquaprotocol.xyz;
Explore all the features, review docs, understand how commissions work, and be on the lookout for any bugs — your findings are invaluable to us and will be rewarded!
Application Testnet Tasks:
1. Switch your wallet to the test network: If you’re unsure how to do this, follow the instructions for the TONKeeper wallet, MyTonWallet or TonHub in the next paragraph of this article.
2. Obtain test TON tokens for transactions via @testgiver_ton_bot: This bot will provide you with test tokens to perform transactions. Without them, you won’t be able to test the functionality.
3. Visit the website app.aquaprotocol.xyz.
4. Connect your wallet (CONNECT WALLET) and click on “GET TEST JETTONS”: This will allow you to acquire test staked TON tokens for use in the application as collateral.
5. Deposit test staked TON tokens as collateral (DEPOSIT) and mint AquaUSD (MINT): Essentially, you’re now borrowing AquaUSD stablecoins by staking TON tokens as collateral, similar to a pawn shop. DEPOSIT and MINT can be done either as separate transactions or together.
6. Ensure that AquaUSD is visible in the account information section after minting: This indicates that the AquaUSD minting process was successful.
7. Increase the collateral ratio (DEPOSIT more staked TON tokens) and/or repay part of the AquaUSD debt (REPAY): This will help you manage the risk of liquidation.
8. Verify that the collateral ratio has increased (COLLATERAL RATIO): This is important for your safety within the system.
9. Fully repay the AquaUSD debt and withdraw funds from the collateral (WITHDRAW): This will allow you to close the loan with the protocol and return the initially pledged funds to your wallet.
10. Attempt to redeem AquaUSD for staked TON tokens at a fixed rate of $1 (REDEEM): This will give you an understanding of what to do if the AquaUSD price on a DEX drops below $1.
11. Explore liquidation opportunities for other participants (LIQUIDATE): This will help you understand how the liquidation process works in the system. You can liquidate others and receive staked TON tokens at a discount of 9% or more.
12. Experiment with other functionalities (and another wallets) and check the fees: This will help you understand how to use the application most effectively.
Additional Testing Instructions
Testing Integration with Tonstakers
To test the Aqua Protocol’s functionality with Tonstakers’ liquid staking tokens, you need to stake TON in the Tonstakers testnet. Follow these steps:
!!! tsTON (the token name in the testnet is displayed as TUNA, in Aqua it’s tsTON)
Step1: Acquire test TON via the bot https://t.me/testgiver_ton_bot.
Step 2: Switch to the test wallet!
Step 3: Go to https://teststaking.xyz/ and connect your wallet.
Step 4: Enter the amount of TON you want to stake and click “Stake”.
Step 5: Ensure that the TUNA tokens have arrived. If they are not visible in your wallet, you can find them in the settings of TonKeeper -> Tokens -> Hidden and make them visible. Another option is through the app.aquaprotocol.xyz application and the tsTON -> Deposit section.
Testing Integration with Bemo Finance
To test the Aqua Protocol’s functionality with Bemo Finance’s liquid staking tokens, you need to stake TON in the Bemo Finance testnet. Follow these steps:
!!! stTON (the token name in the testnet is displayed as STTC4, in Aqua it’s stTON)
Step 1: Acquire test TON via https://t.me/testgiver_ton_bot.
Step 2: Switch to the test wallet!
Step 3: Send the tokens you intend to stake to the BEMO contract address:
EQC3Duw3dg8k98xf5S7Bm7YOWVJ5QW8hm3iLqFfJfa_g9qax
Step 4: Ensure that the STTC4 tokens have arrived. If they are not visible in your wallet, you can find them in the settings of TonKeeper -> Tokens -> Hidden and make them visible. Another option is through the app.aquaprotocol.xyz application and the stTON -> Deposit section.
Testing Integration with Hipo Finance
To test the Aqua Protocol’s functionality with Hipo Finance’s liquid staking tokens, you need to stake TON in the Hipo Finance testnet. Follow these steps:
!!! hTON (the token name in the testnet is displayed as thTON, in Aqua it’s hTON)
Step 1: Acquire test TON via https://t.me/testgiver_ton_bot.
Step 2: Switch to the test wallet!
Step 3: Go to https://app.hipo.finance/#/network=testnet/ and connect your wallet.
Step 4: Enter the amount of TON you want to stake and click “Stake”.
Step 5: Ensure that the thTON tokens have arrived. If they are not visible in your wallet, you can find them in the settings -> Tokens -> Hidden and make them visible. Another option is through the app.aquaprotocol.xyz application and the hTON -> Deposit section.
Rewards 🎁
Participation bonuses and prizes will be awarded to those who contribute to the platform’s advancement. To qualify for a reward, you must:
- Test the Web App.
- Report any bugs, errors, or typos discovered, or simply provide feedback using the Google form designated for bug bounty purposes.
Extra Rewards 🎁 🎁 🎁
For testers who excel in their efforts, we offer special rewards! To be eligible, you must meet one or more of the following criteria:
- Extra Tester 📈: Provide comprehensive feedback and suggestions.
- Extra Bugs Finder 👾: Identify and report 5 or more bugs with detailed descriptions.
- Extra Influencer 📣: Share a post or tweet about the Aqua testnet with over 500 followers.
How to switch to testnet and get test tokens? ⚙️
- Set up any wallet convenient for you to interact with Aqua Protocol;
- Create or switch to a testnet account using the instructions tailored to your wallet.
For TonKeeper users, this involves following the screenshots provided for testnet account creation:
- Access the settings menu, then tap the logo at the bottom of the screen five times. Afterward, toggle the Dev Mode switch to the “ON” position.
- Return to the main screen and add a testnet wallet by selecting “Add Wallet” and then choosing “Testnet Account.”
- Get test TON by using Telegram bot @testgiver_ton_bot, solving captcha and entering your testnet wallet address
- “Get test jettons” on clicking to the button in-app (will be available after wallet connected);
How to Submit Test Results to the Team? 📩
Test Aqua Protocol V3 and be rewarded. Please complete the Google form to report any bugs, evaluate platform features, or provide feedback.
Note: Your results may not reach us without filling out the Google form, so please ensure you complete this step.
Thank you for contributing to shaping the future of decentralized finance on the TON blockchain!
Follow us on Twitter: @aquaprotocolxyz
Telegram channel: https://t.me/aquaprotocolxyzchannelen
Telegram community: https://t.me/aquaprotocolxyz
Website: https://aquaprotocol.xyz/
