Yaka Finance Stage 2 of their Incentivized Testnet campaign concludes on June 26th. While the tasks were brief, they presented some challenges. Here’s what you need to know.
What is Yaka Finance?
Yaka Finance is a liquidity hub designed to connect decentralized applications (dApps) and facilitate smooth transactions by providing liquidity. It is built on the Sei Network, which has pivoted towards parallelized Ethereum Virtual Machine (EVM) compatibility. The platform aims to streamline liquidity provision across various dApps, making transactions more efficient and seamless.
Key Features
1. EVM Compatibility
Yaka Finance has integrated with the Sei Network’s EVM-compatible environment, allowing users to interact with Ethereum-based assets and applications. This integration ensures that users can manage their assets using familiar Ethereum tools and wallets.
2. User-Friendly Interface
The platform offers a straightforward user interface that makes it easy for users to complete tasks and interact with the Testnet. The UI supports both Compass and MetaMask wallets, catering to a wide range of users.
3. Incentivized Testnet
Yaka Finance runs incentivized Testnets, where users can participate in tasks to earn Testnet tokens. These activities are designed to test the network’s capabilities while rewarding users for their participation.
Funding Insights
Yaka Finance is currently in its early development stages, focusing on building a robust and scalable liquidity hub on the Say Network. The project has completed its Testnet Season 1 and is now in Testnet Season 2. By participating in these Testnets, users can position themselves early for potential rewards and benefits as the platform matures.
What Makes It the Best Airdrop?
1. Simplicity and Accessibility
The Yaka Finance airdrop stands out for its simplicity. The tasks required to participate are easy to complete and do not involve daily point accumulation. This makes it accessible to a wider audience, including those who may not have extensive experience with blockchain technologies.
2. Attractive Rewards
Participants can earn up to 750 points by completing tasks such as token swaps, adding liquidity, locking tokens, and voting. These points translate into potential rewards, making the airdrop highly attractive.
3. Community Engagement
Yaka Finance encourages community participation through invite links, where users can earn additional points by inviting others to join and complete tasks. This fosters a sense of community and collective engagement, enhancing the overall user experience.
Step-by-Step Guide to Participate in the Yaka Finance Airdrop
1. Setting Up Your Wallet
- Compass Wallet: If you have interacted with Yaka Finance V1 Testnet, connect your existing Compass wallet to the V2 Testnet interface.
- MetaMask: If you prefer MetaMask, export your Compass wallet private key, import it into MetaMask, and connect to the Testnet.
2. Claiming Testnet Tokens
- Sei Testnet Tokens: Visit the Sei Arctic-1 Testnet faucet. Paste your EVM address and connect your Discord account to claim Sei Testnet tokens.
- Yaka Testnet Tokens: Once credited with Sei tokens, proceed to claim Yaka Testnet tokens from the faucet. Note that this may incur a small gas fee.
3. Swapping Tokens
- Token Pairs: Swap between various token pairs including SEI/USDT, SEI/YAKA, YAKA/USDT, SEI/SEIYAN, and USDC/USDT.
- Swap Amount: Use approximately 0.1 tokens for each swap to ensure transactions are processed smoothly.
4. Adding Liquidity
- Liquidity Pools: Add liquidity to both stable (USDC/USDT) and volatile pairs.
- Correct Pools: Ensure you add liquidity to the correct pools (stable vs. volatile) to receive proper credit.
5. Locking Tokens
- Create a Lock: Lock Yaka tokens by creating a lock with a small amount (e.g., 0.1 tokens).
- Duration: Set any duration for the lock, typically two years.
6. Voting
- Select a Pair: Participate in voting by selecting any pair.
- Cast Your Vote: Cast your vote with 100% weight and complete the transaction to ensure your vote is counted.
- Verify: In order to pop-up the badges, you need to verify by clicking the button.
7. Troubleshooting
Troubleshoot Missing Badges/Tick mark: If badges/tick mark do not appear:
- Export your Compass wallet private key.
- Import it into MetaMask.
- Log in with MetaMask and the network to ensure all tasks are registered correctly.
8. Inviting Friends
- Invite Link: Complete at least one swap and add liquidity to unlock your invite link.
- Earn Points: Share your invite link and earn points when your invitees complete tasks such as swapping, depositing, locking, or voting.