Status:
✅Confirmed
Raise:
$1.50M
Task Type:
Bounty Platforms,Testnet
Side Protocol Airdrop Guide Step By Step
Dive into Side Protocol’s Testnet Phase 2: A Rewarding Adventure!
Calling all crypto enthusiasts! Side Protocol’s Phase 2 Incentivized Testnet is live, offering a chance to explore its cutting-edge technology and potentially earn rewards. This guide simplifies the process, allowing you to become an active participant in shaping the future of Side Protocol.
Exploring Native BTC and Runes:
- Head to the website: Navigate to the Side Protocol Testnet website (link unavailable due to safety reasons).
- Fuel Up Your Wallet: Enter your wallet address and request testnet $BTC and $SIDE tokens to interact with the platform.
Engaging with Grimoria:
- Connect to Grimoria: Visit Grimoria and connect your wallet to access its functionalities.
- Transferring Assets: In the “Assets” tab, locate the desired asset (e.g., BTC) and click “Transfer.” Specify the amount you want to transfer and confirm the transaction in your wallet.
- Swap with Ease: Head to the “Swap” tab and exchange any of your existing tokens for another available option.
Providing Liquidity:
- Dive into the Pool Tab: Explore the “Pool” tab and find a pool containing tokens you hold in your wallet.
- Become a Liquidity Provider: Enter the amount you wish to contribute and click “Add Liquidity” to create a liquidity pool.
- Stake for Rewards: Access your liquidity pool settings by clicking “Manage” and then the “Stake” tab. Choose a percentage of tokens you want to stake and confirm the action.
Staying Active:
- Repeat these steps periodically to maintain your activity on the network.
Preparing for the Testnet:
- Choose Your Wallet: Install either Uniswap or OKX wallet, ensuring you save your mnemonic phrase securely.
- Access the Dashboard: Visit the Side Protocol website, connect your Discord account, and enter the provided code (W5SSDLI6) to unlock the dashboard.
- Earn Through Quests: Embark on quests to earn XP (experience points) and keys that unlock potential rewards.
Additional Tips for Maximizing Keys:
- Spread the Word: Invite others to join the testnet using your invitation code. Both you and the invited user (who completes at least one quest) will receive an extra 50 keys!
- Provide Valuable Feedback: Share your constructive feedback through the provided form to potentially earn a significant number of keys. Your input can help refine the platform.
Incentivized Testnet Activities:
- Fuel Up with Testnet Tokens: Head to the website, connect your wallet, and request testnet tokens from the faucet.
- Swap and Earn: Swap your $SIDE tokens to $BTCT or other available assets within the ecosystem.
- Become a Liquidity Provider: Navigate to the “Pool” tab and add liquidity to a pool that interests you.
- Stake for Rewards: Remember to stake your liquidity pool tokens before claiming rewards.
- Claim Your Rewards: Rewards are distributed every second. Once you’ve staked your liquidity, you can claim your earned rewards.
- Test Liquidity Withdrawals: Locate your chosen liquidity pool and withdraw some tokens to test the withdrawal functionality.
- Explore Limit Orders: On the “Swap” page, switch to “Limit” mode and try placing a limit order to experience this advanced trading feature.
- Delegate Your $SIDE Tokens: Delegate your $SIDE tokens to one of the validators on the network.
- Switch Validators: From your existing staking setup, select a new validator to delegate your tokens to.
- Undelegate Your Tokens: If needed, you can undelegate your tokens from the previously selected validator.
- Participate in Governance: Select a governance proposal and cast your vote to influence the future of Side Protocol.
Congratulations! You’ve successfully completed all the tasks. Now, you can utilize your earned keys or save them for higher-tier boxes in the future. Remember, consistent participation through daily activities will help you accumulate more keys.
Ready to embark on this exciting journey? Get started with Side Protocol’s Testnet Phase 2 today!
Project overview
Side Protocol is a project aiming to enhance the scalability and functionality of the Bitcoin blockchain. Here’s a breakdown of what it offers:
Modular Blockchain Approach: Side Protocol functions as a modular sidechain solution for Bitcoin. This means it operates as a separate blockchain connected to the main Bitcoin blockchain. This separation allows for:
- Faster Transactions: Transactions on the Side Protocol can potentially occur much faster than on the Bitcoin network itself.
- Scalability: Side Protocol can handle a larger volume of transactions compared to the limited capacity of the Bitcoin blockchain.
- Flexibility: The modular design enables developers to build custom applications and functionalities on top of the Side Protocol, catering to specific needs.
Security Anchored in Bitcoin: While offering faster transactions and scalability, Side Protocol leverages Bitcoin’s robust security. Transactions on the Side Protocol are ultimately settled and secured by the Bitcoin network.
Settlement and Value Exchange Layer: Side Protocol acts as a settlement and value exchange layer for these modular Bitcoin blockchains. It facilitates the secure transfer of value between different applications built on top of it.
Potential Use Cases: Here are some potential applications of Side Protocol:
- Faster Payments: Side Protocol could enable faster and cheaper everyday transactions using Bitcoin.
- Decentralized Finance (DeFi): It could provide a foundation for building scalable DeFi applications on Bitcoin.
- Scalable NFT Marketplaces: NFT (Non-Fungible Token) marketplaces with high transaction volume could benefit from Side Protocol’s scalability.
Overall, Side Protocol positions itself as a promising solution for scaling Bitcoin’s capabilities without compromising its security. By enabling faster transactions, increased scalability, and a platform for innovative applications, Side Protocol has the potential to broaden the reach and functionalities of the Bitcoin ecosystem.
Here are some additional points to consider:
- Side Protocol is still under development, and its full potential remains to be seen.
- The success of Side Protocol will depend on its adoption by developers and users within the Bitcoin community.
- As with any new blockchain project, it’s essential to conduct your own research and understand the potential risks before interacting with Side Protocol.
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