InstaDex Private Testnet V1 “Skywalker”- Participate Now!

Kushagar Konark

22 Sep 2022

Blockchain
crypto
Cryptocurrency

Instaraise team is thrilled to inform the whole Tezos community that the ”Skywalker” (InstaDex version 1.0) is now live on Testnet. This update signifies our hard work and the commitment towards our mission of building a Defi universe on Tezos.

InstaDex is going to be the first “Single asset liquidity provisioning” DEX on Tezos.

With InstaDex, we aim to solve the problem of Involuntary Token Exposure and Impermanent Loss by creating a system where INSTA holders i.e the liquidity providers will not only manage the risk, but also participate in the upside via swap fees collected by the protocol.

By diversifying the risk of impermanent loss across a wide array of pools, we could potentially deploy a system where the revenue from swap fees exceeds the network-wide cost of Impermanent loss insurance.

Skywalker Beta tester program

Tezos has always been an ecosystem of a highly talented crowd of developers, artists and crypto lovers who collectively work towards the upliftment of the whole ecosystem.

As InstaDex is built for the community, what’s better than every member contributing towards building the First DEX on tezos with impermanent loss protection?

Therefore, we introduce you to Skywalker Beta tester program with an aim to build together on Tezos

To apply for the program, signup by filling a small form given below
➡️ https://bit.ly/SkywalkerBetaTesterApplication

We hereby call upon all developers to help join our team to further develop the InstaDex which will ensure that we develop a product that the community truly loves. The tez army in the Beta tester program will be working closely with the Instaraise team to test the Skywalker version of InstaDex and be instrumental for the success of the same.

What’s in it for the Beta testers?

The Beta testers in the Skywalker Beta testing program will be entitled to various perks and opportunities that will be coming soon during our Public testnet release and Mainnet launch. Few of them will include

  • Work with highly skilled developers and test the private ‘Skywalker” version of InstaDex before anyone else
  • A reward pool of $2,000 worth XTZ token will be airdropped to our top 5 Beta testers on the mainnet launch (Read section “Rewards distribution” to know more)
  • A chance to be seen by the wide Tezos and crypto community for sharing your views and opinions on our DEX which will also help you in ensuring brand value and exposure to many bigwigs in the industry.
  • Beta testers can also become the early liquidity provider on InstaDex and earn Tx fees
  • Exclusive access to upcoming Instaraise events

Your role as a Beta tester

The Beta testers will be the first one to get exclusive access to InstaDex private testnet “Skywalker” and will be able to play around with the testnet before anyone else.

As a tester, you will be required to test Skywalker and hunt down any bugs or security concerns that might be critical for the development of the DEX

Apart from this, you are welcomed to provide your valuable suggestions and ideas that can further improve DEX functionalities.

How to apply for the program?

Fill out the small form below to apply for the Skywalker Beta testing program.

➡️ https://bit.ly/SkywalkerBetaTesterApplication

Submitting your feedbacks

Submitting the feedbacks, bugs and suggestions is as easy as posting a tweet!

While testing the ins and outs of the Skywalker, you can provide feedback and suggestions by simply sharing them via individual tweets or a tweet thread on Twitter with proper screenshots/videos supporting your feedbacks.

If, anyhow you are unable to find any bugs, you can even share your review about the Skywalker via tweet which will be equally significant.

Make sure that you tag “@instaraise” in your tweet along with the hashtag “#InstaDex” for us to find your tweet easily.

TIP- The more elaborated and well explained is your tweet, the higher is your chance of winning!

For any other queries related to the program, contact us directly on the Instaraise official telegram community channel where our admins are always ready to help you.

Reward distribution

This Beta tester program will consist of 20 individual Beta testers who will testing the ins and outs of the Skywalker. However! to spice things up, only 5 winners will be selected out of those who will share $2,000 worth of reward pool of XTZ equally.

Winners will be selected on the basis of

  • The criticality of the bugs and issues found out during your testing
  • Significance of your suggestions for the development of the DEX
  • The level of deep testing done by the testers which will be interpreted by the quality of your feedback and suggestion tweets

Result Announcement

The results announcement and airdrop for the private beta tester program winner will be done soon at the time of InstaDex mainnet launch!

Join our Instaraise community channel for instant updates about the program and upcoming developments➡️  https://t.me/Instaraise