Side protocol is an extension layer of bitcoin . A the heart of side protocol lies a settlement layer optimized to unlock programmability and scalability for the bitcoin rollup system .the bitcoin ecosystem has seen a rise of increasing Layer 2 blockchains employing different tech stacks to scale Bitcoin beyond its limitations.
This approach might seem beneficial, several issues could come down the line in the future. Firstly, it might lead to liquidity fragmentation. Secondly, Bridging between this networks may become more difficult. Finally, it could become cumbersome and inconvenient for users to switch between these networks . This is similar to issues seen in other systems with other L2 Networks.
Side protocols is going to introduce a modular stack to the bitcoin network , enabling dApps to be deployed on application-specific rollup. Within side protocol , rollups operate on their own execution layer while leveraging a bitcoin side chain as settlement layer.
Side Protocol has launched its S2 Incentivized Testnet where users can earn a portion of their genesis token supply during their token generation event (TGE). We are going to get positioned for this drop early enough
PARTICIPATING IN S2 INCENTIZED TESTNET CAMPAIGN
- BECOME AN INSIDER : To get an insider role , you would need to claim role by completing their galaxe campaign https://app.galxe.com/quest/sideprotocol/GCraxUn3Fj
- DOWNLOAD OKX WALLET : Download OKX Wallet and switch to Native Segwit Address
3. LOGIN TO INSIDER POINTS SYSTEM : Ensure you have completed the galaxe campaign . Login to https://insider.side.one/login . Use 0A34F75Z as Invite Code. Complete quest and acquire more points.
QUEST
I.) FAUCET
- Enter your address from your OKX address or connect your OKX directly to the faucet page : https://testnet.side.one/faucet
- Also discord channel has a faucet channel incase web faucet does not work .
II.) SWAP
- Swap Side to any asset of your choice , I also advice you swap variety of pairs
III.) ADD LIQUIDITY
- Select any pair you want to add liquidity to . After adding the pair you will receive LP tokens .
IV.) Stake Liquidity
- Before claiming liquidty rewards . You must stake your liquidty by locking your LP Tokens
- Select manage button in pool page and click on stake.
- Stake a portion of your LP tokens to get eligible for incentivized rewards from the LP pool
V.) CLAIM REWARDS
- Incentive rewards are emitted at every passing second . After staking liquidty , you can claim rewards .
VI.) WITHDRAW LIQUIDITY
- Locate any pool you provided liquidity in. Select manage and click withdraw liquidty . You can withdraw any percentage of your choice.
VII.) USE THE LIMIT ORDER ON THE SWAP PAGE
- Go to the swap page and use the limit tab
VIII.) DELEGATE TOKENS
- Ensure you delegate your side tokens to any of the active validators
IX.) Undelegate Tokens
- You can also Undelegate your tokens from the validators you delegated to
X.) VOTE GOVERMENT PROPOSAL
- Select any proposal and cast your vote
The Testnet is still ongoing and the TGE Date is still undecided . Stay early in this project , as they are building a solid product. Ensure to remain consistent so as not to be tagged as a sybil.
