How to: KYVE’s Incentivized Testnet
MY WALLET: kyve1ceavw6060hazljpg2z30tr2u64dw788tg5p22x
Disclaimer! This tutorial is only relatable for the 1st phase of the Mission Korellia!
Good day everyone! I hope you’re all doing great! :)
Since the KYVE’s Incentivized Testnet got so popular and many people are participating in it, I thought it’d be great to write a little guide on what this testnet is for and how to participate!
If you’d like to learn more about KYVE you can head over to my previous article, or visit their Medium!
What does “Incentivized Testnet” mean?
It’s simple! :) That means that you’ll get rewards for participating! However, this testnet is a little different from the ones i’ve participated before!
KYVE’s team decided to make their testnet interesting for everyone, so there are a lot of different tasks. For me it seems like an ambassador program combined with engineering stuff like hosting a node! So if you like writing articles and explanatory content or making memes, you can focus on Content tasks. If you prefer running nodes you can complete tasks from the Engineering section. And also you can claim points every day from the faucet, and you can try your luck spinning $KYVE wheel!
As you can see, this testnet provides KYVE’s community many possibilities for participating and earning rewards!
However, I must clarify that in order to actually earn something from this testnet (exept of course expirience and loats of fun ;) ), you have to try hard to earn as much points as possible! There will be 2 reward pools:
- Pool A ( top 5000 participants) which will be rewarded with 25% of the total rewards supply ( up to 5000000 $KYVE)
- Pool B ( top 10000 participants) — also 25% of the total supply!
Sounds good, right? ;) This testnet will run until ~ July, 2 so you still have some time left to participate and earn rewards!
Step-by-step guide on how to earn points (or at least how I’m doing it):
- Install Keplr wallet extension here.
Create a new account or sign in with your Google:
Save your mnemonic somewhere ( it’s better to save it not on your computer), create your account name and a password:
And you’re all set! :) Good job!
2. Go to the Mission Korellia website and connect your wallet at the top right corner:
In order to connect your wallet, you will have to allow to add Korellia chain into your Keplr wallet. Allow to complete this transaction (it will require no fee), and you will see your KYVE wallet address in the top right corner!
3. Go to the Faucet page and claim your first $KYVE!
First, click “Share on Twitter” button.
It will redirect you to Twitter, where you will have to tweet your wallet address saying that you’re participating in Mission Korellia. It’ll look something like that:
Then, copy this tweet’s link and go back to the Faucet page. Paste your tweet URL in the Step 2 line and click “Claim your tokens”! That’s it! :)
When I was claiming my tokens almost at the very beginning of this testnet it took me about 3 days to actually get them. So please be patient, and you will definitely receive your $KYVE!
4. Tasks that you can claim $KYVE from everyday!
First, join KYVE’s Discord ( if you haven’t already), then copy the message with your wallet address and send it to the #faucet-channel on Discord!
You can do this task every 24 hours and claim your 20 $KYVE everyday!
Again, this tokens might not appear in your balance straight away.
In this task on the Faucet page you can just click “Spin the Wheel” button, complete the captcha and you will get a chance to earn 1–10 $KYVE every 24 hours!
Just like with Discord, your tokens might need some time to appear in your wallet:
Once you receive your tokens from the Twitter faucet — that means that your Twitter account is now connected to your Korellia profile and you can complete community tasks! These include following KYVE on Twitter, retweeting and liking all of their tweets (starting from May, 2nd) and claiming tokens from the faucet.
On your Korellia Profile page you can see points you earned from every community task.
You can make sure you didn’t miss no tweets from KYVE on the Twitter Stats page. Some tweets might take time to appear, just like your tokens from liking and retweeting them!
6. Complete Engineering tasks.
In this tutorial I won’t tell you how to run the KYVE’s node since I don’t do it myself! In order to run a node you’ll have to stake a minimum amount of tokens into it, and only top-50 nodes with most $KYVE staked will count as actual validators. For example, in order to run Bitcoin node for KYVE you’ll have to stake a minimum of 9100 $KYVE at the moment.
Every now and then someone creates a governance vote on the Governance page. Check this page every day in order to not miss any votes!
In each vote you will have four options to choose from: Agree, Abstain, No and Veto. Read each proposal carefully and vote with the option you think is the best for it! Each vote will bring you 10 $KYVE.
If you want to submit your proposal you will have to deposit a minimum of 5000 $KYVE. If your proposal gets accepted you will receive them back, but if it gets rejected your $KYVE will be burned! This was made to prevent any spam proposals.
Go to the Pools page and choose the pool that you want to delegate into. For example, I want to delegate into the newest pool, Umee.
Choose the validator that you like the best, and click on the “Become a delegator” button. Read Benefits of delegating, Requirements, Risks and then choose the amount of $KYVE you want to delegate. There is no minimum amount so you can delegate even 0.001 $KYVE!
Each delegation will bring you 1 point. That way you can earn up to 150 points!
When choosing a validator, I suggest you looking for the lowest comission and the lowest total delegation. That way you can earn the most rewards from delegating!
You can see all of your delegations on your User page. Here you can manage the amount of delegation and claim rewards!
Check you delegations everyday, because if it says that the delegation is Inactive, that means that the validator you delegated in isn’t active currently and you won’t earn any rewards from them.
Go to the pools page and choose what pool do you want to fund. For example, let’s fund Umee pool.
Each pool has its minimum funding amount which changes constantly. Just like with validators, each pool has only 50 available funding slots.
Minimum funding amount for Umee is now 0 $KYVE so let’s fund ~10 $KYVE. Click “Become a funder”, read Cost of funding, Requirements and Risks and choose the amount of your funding.
Now you’ll be able to see your funds on the User page! You can manage the amount of funding by clicking “Manage funds”. By funding you can earn up to 50 Engineering points with each fund bringing you 5 points!
Since there are only 50 available slots for funding, if you will have the least funding amount you will get kicked out and some of your funding amount will return to your wallet. A little life-hack here is to defund from the pool right after you fund it! That way you won’t lose any point from being kicked out of the top-50 but you will still get your 5 $KYVE for this fund!
Go to your Korellia profile page and choose the task you want to submit. Click the Submit button, paste URL of your work, complete the captcha and submit your content! Each work is checked manually so it might take several days for your work to be Accepted or Declined.
While you have a work pending you won’t be able submit any more content. That way there’s no huge queue of content that needs to be reviewed by the team!
Don’t forget to provide your wallet address when you post your piece of content! Without it your work will be declined!
That’s pretty much how I’m participating in the Mission Korellia! I must say that I enjoy this testnet alot, and checking all of my delegations and everything has become my everyday routine! :D
I hope you’ll find this guide helpful and earn as much $KYVE as possible! Good luck! ❤