Incentivized Testnet Program
Today, we are excited to announce our next step towards launching the MAYZ Protocol to the Cardano Mainnet.
After months of development, we are launching our Incentivized Testnet on March 10th. Then, 9,000,000 $MAYZ (used to be 3M $MAYZ at the beginning, then 6M $MAYZ when we reached 500 users, and now 9M since we reached 1000 users!) will be airdropped among participants!
The goal of the Testnet is to see how the MAYZ Protocol performs, make improvements, and fix bugs before the release of the Mainnet. With the launch of the MAYZ Protocol Public Testnet, we’ve reached an important milestone in developing the protocol.
To better simulate the protocol, we have created 20 tokens emulating the most relevant projects on the Cardano mainnet.
This Public Testnet aims to validate the technical architecture and security of smart contracts, as well as the user interface and usability.
Community participation is invaluable in helping us make any final tweaks before the mainnet launch.
What is the MAYZ Protocol Incentivized Testnet?
The Incentivized Testnet is a reward campaign where you can earn $MAYZ to test the protocol.
The Testnet will use the Preview Cardano Network, and Testnet tokens will be created to emulate the mainnet.
Users can earn $MAYZ by performing specific actions & submitting feedback.
$MAYZ AirDrop = Incentivized Testnet Rewards
We’re allocating 9,000,000 $MAYZ tokens in rewards for participants in the Testnet.
Once Mainnet is released, users will be able to claim rewards for the Testnet according to the points earned.
Tasks Included in the Incentivized Testnet
The testing process will include several tasks. To get rewards, you will need to complete them. So pay attention to the following rules:
1- Before performing the testing process
Before starting with the tasks, it is imperative to establish the preconditions.
A prerequisite includes possessing a Cardano Preview wallet and a browser extension for its management (Nami and Eternl are ok).
To be able to perform the tasks, the designated wallet must maintain a $tADA & $MAYZ balance on the Preview network; consequently, users are required to utilize two faucets:
For tADA: 10k for this purpose.
https://docs.cardano.org/cardano-testnet/tools/faucet/
For $MAYZ: 100k for this purpose.
Send 2 tADA to:
addr_test1qp7sdszpnc09mj4x9k0830lwkeexyqm04qdhsvs88kkxdndvyd9zpxkg8hrchyrmdvnpe0fuljl6spgdg3xeuhjgj4ksncykcq
To be eligible for rewards, you must first register here: registration link, then log in on the platform and link your Mainnet Address with your Preview Testnet Address used in the platform. To do so, you must go to Portfolio and click on the Incentivized Testnet Program button on the right side of the screen.
2- During the testing process
You can perform one, some, or all of the tasks. You must complete each task. Partially executed tasks will not be rewarded.
Each completed task accrues points; the more points you get, the more rewards you will receive. Users can perform each repetition of task with each Fund adding more points.
First Task (Beginners): Buy & Hodl [Score: 1 point]
A- Buy Fund Tokens
To participate in a fund and gain exposure to its underlying assets, as though you own them directly, you can acquire Fund Tokens by purchasing them with ADA. The value of a Fund Token is determined by the combined prices of all underlying assets. Each Fund Token represents a specific set of tokens in a defined proportion, functioning as an index.
Second Task (Regular): Buy & Earn [Score: 5 points]
A – Buy Fund Tokens
B – Create a Swap Offer
The offers enable users to buy and sell Fund Tokens against ADA (swapping between them), making it easier to access Fund Tokens. By creating these offers, you can earn commissions when others use them. To create an offer, you must contribute both ADA and Fund Tokens, but you have the option to withdraw them at any time. To start creating offers, you must first acquire some Fund Tokens, to add to the liquidity, and have MAYZ tokens, because you will need to lock them within the Offer you want to create.
Go to Portfolio > My Swap Offers
Third Task (Advance): Buy, Earn & Withdraw [Score: 10 points]
A – Buy Fund Tokens
B – Create two Swap Offers
C – Sell Fund Tokens
Utilize available Swap Offers to sell your Fund Token in exchange for ADA
D – Delete one (any) Swap Order
Go to Portfolio > My Swap Offers
E – Withdraw (and Burn) Fund Tokens receiving the assets
Since your Fund Tokens are backed by actual tokens, you have the option to burn these Fund Tokens at any moment. By doing so, you will receive the underlying assets in the exact proportion as indexed by the Fund. This means that when you choose to burn a Fund Token, you are essentially exchanging it for its constituent assets based on their current indexed value within the fund.
Fourth Task: Delegation & Withdraw [Score: 5 points]
A – Delegate MAYZ tokens
You can delegate your MAYZ tokens to any fund. In doing so, you will share in the commissions generated by the fund, proportionate to your contribution. Thus, delegating tokens serves as a way for you to support a specific fund while also earning commissions from its activities.
B – Withdraw MAYZ tokens
Plus QA task: Report bugs
To report any issues or bugs you encounter, please use this form: link. If you come across multiple issues, feel free to submit a separate form for each one. It’s important to describe the problems in as much detail as possible, allowing us to understand and replicate the issues on our end for a quicker resolution.
Plus share achievements
If you share your achievements on X (Twitter) using the share icon button upon completing the testing program, we will double your points!
The tweet will automatically include the image with your achievements, the mention @MAYZProtocol and the hashtag #MayzIncentivizedTestnet. You are free to edit the tweet’s text, but the link to the image, the mention and hashtag must remain unchanged as we will use these to verify your share. You must keep the tweet active so we can verify it when the time comes.
Help us continue to grow our protocol and invite more people to discover and try it.
3- After the testing process
Complete the feedback form: feedback link. Completion of the form is required only once after performing the tasks. We will accept only one response per Mainnet Address. Ensure you send your feedback since the rewards will not be distributed without it. Completing this form is mandatory to receive rewards. Make your feedback specific and constructive. By doing so, you contribute significantly to the success of our testing program and the development of a secure and user-friendly DeFi Protocol.
You must provide us with evidence of your transactions. To get a copy of all your transactions, go to the Incentivated Testnet Program and click the Export CSV button at the top right corner. That will create a file you must save on your computer and then attach to the feedback form.
Finally, you can check Discord to verify your rewards and news about the program.
Testnet Timeline
The Incentivized Testnet will follow these milestones:
1) Address Registration
2) Testing Process
3) Results Analysis
4) $MAYZ Claim Period (after Mainnet launch)
The Testnet period will begin on March 10th at noon UTC and end on April 9th at noon UTC.
Eligible tasks must be performed during this period. Users can submit address registration until April 14th.
Claim Period will begin by mid-May and will last 30 consecutive days.
$MAYZ Reward Claim
To be eligible, you must complete all three steps detailed before registering, performing tasks, and completing the feedback form. Ensure that when you register, you set up correctly your Mainnet Address, link this address to your Preview Testnet Address used in our platform, and use the same Mainnet Address when providing us with the feedback form and evidence.
The Incentivized Testnet is a fantastic opportunity for users to learn and earn while supporting the MAYZ Protocol. We encourage you to participate and make the most of this opportunity.
Due to logistical constraints and ensuring an optimal testing environment, we limit registrations to 500 participants.
Distribution Mechanism
- Rewards will be calculated at the end of the rewards program once the tasks and feedback completed by participants have been reviewed and validated.
- A review committee will be established to evaluate and validate participants’ contributions.
- Rewards will be distributed proportionally to the accumulated points and quality of tasks each participant completes.
Further questions and comments
Use our Discord channel:
Server: https://discord.gg/4Gj8EtPr https://discord.com/channels/966306579492266024/1216353820603584532
Disclaimer
Participation in the MAYZ Protocol Incentivized Testnet program is not to be considered an investment. The program is designed for testing and educational purposes, and participants should not enter with the expectation of earning profits. The only reward will be $MAYZ utility tokens.
Participants should be aware that the Testnet could cease to operate at any time, resulting in the loss of all transactions.
It is imperative to ensure fairness and integrity in this testing process. Therefore, any detection of bot activity during testing will result in disqualification.
We are committed to creating an environment where genuine users can thoroughly evaluate our app and provide authentic feedback. Bot activity undermines this process’s integrity and compromises the accuracy of our testing results.
Happy testing!