独家优惠奖金 100% 高达 1 BTC + 180 免费旋转

Tidal Testnet Program Announcement

We are excited to announce the Tidal Testnet program. $10,000 rewards will be distributed to participants according to their contribution with 200 participants and 20 days duration for the program.

a. Sell cover (+10)

b. Buy cover (+10)

c. Claim rewards (+5)

d. Change selling plan (+2 per change)

e. Change buying plan (+2 per change)

f. Deposit reserve (+2 per deposit)

g. Withdraw reserve ( +2 per withdraw)

h. Deposit guarantor token (+ 2 per deposit)

i. Withdraw guarantor token (+2 per withdraw)

The testing period will run for 10 intervals. Each interval is 2 days. Participants can set up sell cover and buy cover (item a and b on the scoreboard) once per interval, during the first interval, and for any following intervals, participants could change their selling plan, buying plans, deposit/withdraw reserve, deposit/withdraw guarantor token. (item d to i on the scoreboard)

Here are some detailed explanations for each activity to help you navigate through the platform.

Connect your MetaMask Wallet to Ropsten Testnet, the USDC testing tokens and guarantor tokens will be sent to the participants before the start period starts.

a. Sell cover

Once these steps are completed, input will become effective in the next interval.

Sell cover in different risk levels to make it more interesting.

b. Buy cover

Once these steps are completed, input will become effective in the next interval.

Choose as many protocols as you want to get cover, increase your chance to receive a payment during the “hack” event :)

c. Claim reward

Claim premium that is earned is from cover premium paid by the buyers, as well as tokens earned from the incentive program (reserve mining). Users can earn TIDAL token by either Sell cover, buy cover, or deposit guarantor tokens.

d. Change selling plan

Update basket requires a one interval (2 days) pending period before setting becomes effective. For example, assume the change is made in the 2nd interval, the 3rd interval will maintain the previous setting, and the new setting will become effective in the 4th interval.

The pending period is used to ensure there are no valid claims against the seller. The system is designed to allow a delayed claim with time of one interval. E.g. in the n interval, the claim can be filed against the seller in the n-1 interval, but not for the n-2 interval and further back. If there is a valid claim, updates will be cancelled until the payout is resolved.

Change your basket a few times during the testing period to get more points ;)

e. Change buying plan

Once the step is completed, input will become effective in the next interval. Compare the available covers and cover sold amount to adjust your cover plan.

f. Deposit Reserves

Once the step is completed, input will become effective in the next interval.

g. Withdraw Reserve

Withdraw reserve requires a one interval (2 days) pending period before withdrawal becomes effective. For example, let’s say the request is made in the 2nd interval, it will become effective in the 4th interval if there is no valid claim filed against the seller.

The pending period is used to ensure there are no valid claims against the seller. The system is designed to allow a delayed claim with time of one interval. E.g. in the n interval, the claim can be filed against the seller in the n-1 interval, but not for the n-2 interval and further back. If there is a valid claim, withdrawal will be delayed until the payout is resolved. After that if there is capital left, investors can withdraw the remaining amount.

Try to make withdrawal a few times during the testing period to get more points.

h. Deposit guarantor token

Guarantor token is native tokens of other protocols. For example, COMP is the guarantor token for Compound protocol. The token can be deposited to the guarantor pool to earn cover premiums and provide additional coverage in case of a hack event (up to 30% of the amount will be paid out to sellers). As an example, there are 100 COMP tokens in the guarantor pool for COMPOUND protocol, and the total cover premium for COMP is $100, $10 (10% of the total premium) will be rewarded to the guarantor pool. In case of valid claim, up to 30 COMP tokens will be used to pay for the loss depending on the total loss amount.

Once the deposit is made, input will become effective in the next interval.

i. Withdrawal Guarantor funds

Once the withdrawal is made, input will become effective in the next interval.

Claims:

One payout event will be simulated during the testing period, there is nothing needed to be done from testers, the simulation will test the system robustness on several fronts:

Payout condition:

Payout will be carried out in stable coins.

Partial payment could be triggered under the below circumstance:

Total loss is less than the total cover bought, payout to each user could be the fraction of bought cover amount to cover the actual loss. E.g. total cover bought is $1,000, the hack amount is $500. All the buyers will get paid ½ of their purchased cover amount.

Guarantor’s token will be paid to sellers in the claimed reserve pool proportionally.

Reserve mining schema

Per interval reward total 100,000 TIDAL

7,000 go to all sellers, evenly distributed among protocols. Assume there are 10 protocols, each reserve pool will receive 7000 TIDAL.

2,000 go to all buyers. evenly distributed among protocols. Assume there are 10 protocols, each reserve pool will receive 2000 TIDAL.

1,000 go to guarantors. evenly distributed among protocols. Assume there are 10 protocols, each reserve pool will receive 1000 TIDAL.

Discussion and questions during testnet will be conducted through Tidal’s Discord and Telegram channel.

Tidal Finance makes DeFi safer by providing insurance coverage for assets across chains in custom balanced liquidity pools. TIDAL is a Balancer-like insurance market built upon Polkadot that allows users to create custom insurance pools for one or more assets.

With Tidal, users can choose risk pools depending on their risk appetite, and filter it through a combination of protocols/assets and their coverage terms (premium, cover period, etc). Liquidity Providers, on the other hand, can invest in pools that suit their risk/reward ratio.

☂️ Medium: https://tidalfinance.medium.com

Add a comment

What is your view?

Send

Related posts:

How to Make The Spiral Duct

The spiral duct machine is to make a certain width of coil material into a spiral tube. The coil material is fed into the occlusal device through the driving mechanism and transmission mechanism. The…

Best vegetarian shop in pontian

This Yixinfo pixel food restaurant is an old restaurant. He established this old store in 1996 and changed the person in charge, which was done by his son When you come to “One Heart Buddha”, you…

The Fun Palace

The technique of drawing that I chose is “a fun palace full of activities defined by pieces of architecture” by Cedric Price. The definition of Fun Palace was not just an ordinary building like we…