What Is Liqfinity Testnet and How to Join?

Liqfinity is a crypto lending platform that leverages the power of AI agents to enhance decentralized finance (DeFi) lending. By automating critical tasks such as loan management, market monitoring, and the execution of programmable actions, Liqfinity provides users with an intuitive, efficient, and hands-off lending experience. 

As part of its ongoing development, Liqfinity is currently in its testnet phase, allowing users to try out key features with test assets while also providing potential incentives for active participants.

Here’s how you can participate in the Liqfinity Testnet and earn rewards along the way.

Also read What Is Liqfinity: Roadmap and Tokenomics?

What is the Liqfinity Testnet?

The Liqfinity Testnet is a crucial part of the platform's development, offering users an opportunity to interact with its core features using test assets. The testnet allows participants to engage in automated loan management, market tracking, and other essential activities without putting real capital at risk. During this phase, users can explore the platform's features, earn rewards, and prepare for the official launch of the platform’s mainnet.

While the testnet campaign doesn’t yet promise any airdrop for tokens, it introduces a points-based system to reward users for their activity. 

This could potentially serve as a foundation for a future token distribution.

How to Participate in the Liqfinity Testnet?

Joining the Liqfinity Testnet is simple, and there are various ways to earn points while experimenting with the platform. Here’s a step-by-step guide to get you started:

1. Account Creation and Setup

• Navigate to the Liqfinity Testnet Page.
  
   
• Enter your email address and create a secure password.
  
   
• Click "Create Account" to initiate registration.
  
   
• Check your inbox for the verification link and click it to confirm your account.
  
   
• Once confirmed, log in using your credentials to receive testnet tokens: 1 BTC, 1 ETH, and 1 LTC.
  
   

2. Earning Points Through Platform Activity

The testnet platform rewards you for several activities, such as borrowing, lending, and referring others. Here's how you can maximize your points:

• Borrowing Assets:
  
   
  • Earn 12 points for every $1,000 borrowed.
    
     
  • Receive 0.3% of the borrowed amount per hour.
    
     
  • Test the borrowing feature by using USDT against your testnet collateral.
    
     
• Supplying Liquidity:
  
   
  • Earn 3 points for every $1,000 supplied to lending pools.
    
     
  • Receive 0.075% of the locked amount per hour.
    
     
  • Supply your testnet BTC, ETH, or LTC to start earning points.
    
     
• Referral Program:
  
   
  • Share your unique referral link available in the “My Referrals” section.
    
     
  • Earn 10% of the fees generated by your referrals.

Also read How to Join the Blockmesh Airdrop: Complete Participation Guide

Tips for Maximizing Your Liqfinity Testnet Points

To get the most out of your participation, consider these tips:

• Maintain consistent activity in both borrowing and lending.
  
   
• Balance your portfolio by participating in different activities across assets.
  
   
• Keep assets locked for longer periods to maximize hourly rewards.
  
   
• Actively participate in the referral program to generate more rewards.
  
   
• Stay engaged and check for new point-earning opportunities by joining the official Discord server.

Also read ByteNova Airdrop: Your Ultimate Guide to Joining and Earning Rewards

Conclusion

The Liqfinity Testnet presents a unique opportunity for users to explore and experiment with a DeFi platform powered by AI, all while earning rewards. By participating in activities such as borrowing, lending, and referring, you can accumulate valuable points and gain hands-on experience with the platform’s features. Though a token airdrop is not guaranteed, the testnet serves as a stepping stone toward future rewards and the official Liqfinity mainnet launch.

Stay updated by following Liqfinity on their official channels for more announcements and opportunities to engage with the project.

FAQ

1. What happens to my points after the testnet?

Points earned during the testnet may be considered for a future token distribution, although this is not confirmed. The points system is currently a way to reward active participants in preparation for the mainnet launch.

2. Can I earn points through multiple activities simultaneously?

Yes, you can earn points for borrowing, lending, and referring simultaneously. Engage in all available activities to maximize your potential rewards.

3. How long will the testnet campaign run?

The duration of the testnet campaign has not been officially announced. It is recommended to join early and stay active to ensure you don’t miss out on rewards.

4. Are there any geographical restrictions?

Currently, there are no geographical restrictions for participating in the testnet campaign, so users from around the world can join.