THORChain release public testnet

2020-06-07 — 4 min read

Overview

The team are excited to announce the following details:

Testnet is live for testing at testnet.bepswap.com
Testnet wallets can be generated using @bepswapbot on telegram

40,000 RUNE is allocated for the Top 10 wallets that interact with the network as well as submitting Gitlab Issues.

An additional 20,000 RUNE to be shared with any user that builds functional products that are open-source and work with the network (more details below).

There will be a TESTNET AMA scheduled on Tuesday 8pm AEST | 6pm SGT | 10am UTC with the team to answer any questions about the testnet, chaosnet and more. This will be conducted in the Telegram Group.

Testnet Overview

The testnet is a significant milestone and has the following characteristics:

Multiple leaderless nodes who bond rune, earn rewards for good behaviour , accrue slash points for bad behaviour and are churned on a regular basis.
Asgard TSS implementation to ensure sovereignty of funds.
Asynchronous Liquidity Delegation for instant swaps.
All recent development efforts for stability.

How to Test

Get Testnet Assets

Firstly head to @bepswapbot on telegram:

BEPSwap bot will give out a wallet with testnet assets

This will give you are keystore pre-loaded with testnet assets. Although testnet assets are worthless, there is a non-zero cost to generating them. Users are encouraged to leave assets on the keystore and the THORChain team will sweep them off at the conclusion of testnet.

Head to BEPSwap

Choose the Keystore option for connecting to the wallet and upload.

Swap

The first thing to test is that the system can swap between assets:

Things to test:

Swap metrics are correct
Transaction links are correct
Swaps are processed
Recipient addresses are tested
Price protection works

Stake

You should also test staking and withdrawing funds:

Things to test:

metrics are correct
transaction links are correct
staking completes successfully

Other Aspects

You can also review and test:

Wallet Drawer is correct
Pricing is correct
Transaction page is correct

Bug Bounties

There will be a pool of 40,000 RUNE to be shared with:

Top 10 Wallets that interact with BEPSwap (swap, stake, withdraw counts and volume) — the team will monitor testnet wallets and identify winners using @bepswapbot on telegram.
Top 10 users who submit Gitlab issues for UI and UX bugs

There is 20,000 Bonus Rune to be shared with any user who builds functional products that interact with the network, such as balancer bots, arbitrage bots and dashboards.

Reach out to the team to discuss more.

What’s Next?

The team will soon release another testnet that will allow potential THORNodes to practice joining and leaving. Since this could be disruptive if things go wrong, it will be a separate testnet to the one above.

Following a successful testnet period, Binance Chain Chaosnet will be released. This will have real funds and the team will progressively lift the cap from $10k to potentially as high as $1m+ if things go well. This will pay out real block rewards to Nodes and stakers. Binance Chain Chaosnet will end in a Ragnarok.

After a successful Binance Chain Chaosnet, the team will release the multi-chain ASGARDEX chaosnet. ASGARDEX will also be capped, but the cap will be progressively lifted until the network is deemed stable and then mimir will be destroyed. At this point the network is in mainnet and will represent the first true decentralised exchange built in the 11 years since Bitcoin was launched. After this there will be no turning back and the next era of incentivised, auditable and democratised liquidity will have begun.