1,500,000 is the final number. Yes, the Awakening testnet had more transactions than a mid-sized L2 has during a 10-day period! Testnets are all about breaking things and oh boy - we pushed our testnet to its limits.

We greatly appreciate everyone’s participation in the Malda testnet, your contribution and feedback was highly valuable. In this article we recap some of the key statistics and what you can expect to be improved for mainnet!

Exceeding Expectations

It would be an understatement to say that what broke the most was our expectations!

If anything, the thing that was broken the most were our expectations as a 10-day testnet campaign co-hosted by RiscZero racked up over 1.5 million transactions.

In addition to all this we had over a million unique user interactions with the Galxe campaign from participants who came from all over the world. The Awakening campaign page total views was pushed beyond 3.3 million!

Key Improvements Before Mainnet

Malda Sequencer

Issues regarding sequencer stemmed from the fact that we were sponsoring a majority of gas fees during the testnet and under normal circumstances - this would have been fine. However our 1.5 million transactions and current developments from the Pectra upgrade caused unusually high gas fees. Since our sequencer did not have an unlimited supply of Sepolia ETH for gas, a queue of transactions got stuck in pending.

We turned to the community for help, and received overwhelming support. The Malda Sequencer received over 600 Sepolia ETH which allowed it to continue pushing through transactions! We appreciate your contribution, which will be rewarded.

We are implementing upgrades to the sequencer to keep it functional, even at such high loads. Due to the unexpected load and unusually high gas fees, some components faced unexpected issues. This will refined and resolved for mainnet.

Global Accounts

The user flow experienced so far was just a warmup. Our vision with Global Accounts allows users to initiate transactions from multiple chains at once without having to switch network and sign transactions on each chain - all in one action after some initial setup. Users will be able to delegate the signing right for specific actions (supply, borrow, withdraw and repay on Malda) of their owned account (EOA) to a smart contract account (SCA).

It will be possible to operate this SCA through a passkey - a method of biometric user authentication that eliminates the needs of usernames and passwords. A few examples of passkey are fingerprint or face ID scans, introducing an entirely novel dimension to transaction signing.

This means supplying from multiple chains can be done in just a few transactions, through an action as simple as scanning your fingerprint on your device.

zkProofs

We are constantly working on shortening proving times. Expect improvements by mainnet. Advancements to the RiscZero and Boundless infrastructure will also shorten proving times.

Better Error Handling

We are also improving error messages. Certain markets had a supply or borrow capped. Error messages regarding this issue did not display correctly. We are making it easy to identify what the issue actually is in a human-readable way. In addition to that, we will be adding a transaction history page for you to look back on.

User Data & Insight

Market pages will become significantly more detailed, providing in-depth insight into the current statistics of specific money markets as well statistics like liquidation threshold, utilization rate and many more exciting charts.

We will also add a portfolio page for users to have historical data to make informed decisions. A portfolio snippet is already available on testnet where they can see there positions - this will be further expanded.

Liquidity Migration to Malda

To facilitate moving open positions from lending protocols like Mendi to Malda, we will have a migrator tool. The migrator tool will be accessible through a simple UI, and users can migrate their active positions over directly. This process will be incentivized, so it is worthwhile to keep your supplies and borrows on Mendi open.

It is important to note that this feature will not be limited to Mendi, and will allow users to migrate open positions from other lending protocols directly to Malda to save the hassle of rebalancing, repaying & withdrawing.

Testnet is all about stress-testing and we were thrilled to see that limits were pushed. Don’t forget, Malda testnet is still open and we are more than happy to hear your feedback and suggestions on Discord or Telegram.

Next major milestones ahead of us are mainnet and position migration, but never expect a dull moment around here. Stay tuned for exciting developments!