Awarded testnet from Chromatic Protocol: Step-by-Step Guide

About

Сhromatic Protocol is a decentralized open-ended futures protocol that introduces the concept of a split LP with dynamic commissions. Such a system significantly increases the stability and performance of the protocol. Airdrop and launch of the $CHRMA token is scheduled for the first half of 2024.

Participating in the award-winning testnet of Chromatic Protocol is an exciting opportunity to explore innovative decentralized finance (DeFi) mechanisms and contribute to the development of a more resilient and efficient futures trading platform. Here’s a step-by-step guide to ensure a smooth and successful participation:

Preparation: Acquiring $ETH in Sepolia Testnet

1. Obtain $ETH for the Sepolia Testnet: Before engaging with the Chromatic Protocol, you’ll need $ETH in the Arbitrum Sepolia testnet environment. Utilize one of the recommended faucets to acquire $ETH without cost(You can look for others). This step is crucial for executing transactions and interacting with the protocol during the test phase.
2. If you have test $ETH on other networks, you can use bridge to transfer it to Arbitrum Sepolia.

Participating in the Testnet

1. Connect Your Wallet and Create an Account: Visit the Chromatic Protocol website and connect your wallet. This step is foundational, as it links your digital identity to the protocol’s ecosystem, allowing for a personalized and secure experience. Follow the prompts to create your account, setting the stage for active participation.
2. Request Test Tokens via Faucet: With your account set up, access the protocol’s faucet to request test tokens. These tokens are essential for engaging with the testnet, as they simulate the economic activities without involving real assets.
3. Make a Deposit: Deposit your test tokens into the protocol. This action mirrors the process of locking in assets to participate in perpetual futures trading, a core functionality of the Chromatic Protocol.
4. Open Positions in Trade: Engage actively in trading by opening positions — 5 long and 5 short positions, specifically. This diversified approach allows you to experience both sides of the market, testing the protocol’s handling of varying market dynamics.
5. Add Liquidity in Pools: Contribute to the protocol’s liquidity by adding to the $cETH and $cBTC pools. Liquidity is vital for the smooth operation of decentralized exchanges and protocols, ensuring trades can be executed efficiently.
6. Claim Points Daily on Airdrop Tab: Visit the Airdrop section daily to claim points. This activity not only rewards your participation but also familiarizes you with the protocol’s reward mechanisms, anticipating the airdrop and token launch scheduled for the first half of 2024.
7. Complete Quests on Zealy: Engage with the community and protocol by completing quests on Zealy. These activities are designed to enhance your understanding of the Chromatic Protocol and boost points, its features, and its potential impact on the DeFi landscape.

By following these steps, you’ll not only contribute to the testing and refinement of the Chromatic Protocol but also position yourself to potentially benefit from the upcoming $CHRMA token launch. This testnet experience offers a hands-on approach to understanding decentralized perpetual futures protocols and their innovative liquidity and fee mechanisms, paving the way for a more robust and efficient DeFi ecosystem.

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