We are excited to announce the first KREDITS farming cycle of Kresko’s "Quest for Kresk" Season 1.

The "Quest for Kresk" gamifies education, community engagement, and contributions. Season 0 started with a six-week testnet competition, attracting over 20,000 users from 96 countries, making it one of the most successful testnets in DeFi.

Currently, Kresko is in Season 1 with Closed Beta access, gradually welcoming more users in phases. This approach allows us to test the protocol’s ability to handle risk and usage as we scale. To reward early users, Season 1 kicked off with a retroactive KREDITS airdrop to testnet and Closed Beta users.

Now, we move to the most important chapter of Season 1: KREDITS Farming.

What are KREDITS?

KREDITS are a new reward mechanism designed to incentivize and quantify community engagement and contributions to the Kresko ecosystem.

"Aren’t KREDITS just the same as points?"

They are called KREDITS, not points. There's a massive difference, Anon!

What’s Kresko?

Before we dive into the details of the farming, here's a bit about Kresko.

Kresko’s mission is to make wealth accessible to anyone, anywhere. It is an open platform for synthetic stocks, commodities, and crypto.

Kresko is a novel synthetic asset protocol on Arbitrum that allows anyone to:

• Create synthetic stocks, commodities, forex, and crypto

• Trade synthetic assets with zero slippage

• Earn yield on stablecoins, free from market volatility and impermanent loss

KREDITS FARMING

KREDITS farming allows users to earn KREDITS through various protocol actions.

Note: In future campaigns, the overall multipliers will decrease over time to prioritize early users.

Farming Duration: Three weeks

The first iteration of KREDITS Farming will be a short, three-week campaign starting on June 10, 2024, and ending on July 1, 2024.

Action Multipliers

For all the aforementioned actions the values are multiplied by the base multiplier to allocate KREDITS to each action.

For example, if a user claims fees worth $0.05, they earn 0.05 * 125,000 = 6,250 KREDITS for that action.

Happy Farming!

Join the conversation on Discord and follow us on X to stay up to date with any announcements regarding KREDITS farming.

FAQS

Q: Do I need any NFT to farm KREDITS?

Yes, a "Kreskian" NFT is required to claim and earn KREDITS. All testnet participants received a "Freshly Minted" NFT, which was upgraded to a "Kreskian" NFT.

If you are eligible for the DeFi KREDITS allocation, you can burn a portion of your KREDITS to mint a "Kreskian" NFT.

Q: When will my KREDITS balance be updated?

Your KREDITS balance will be updated weekly.

Q: Will there be a referral program?

Yes, a referral program will be announced soon.

Q: Will there be another KREDITS farming cycle?

A: Yes, there is a possibility of another, longer farming cycle, albeit with decreased KREDITS multipliers.

Q. Will future farming have same KREDITS allocation?

The main goal of the KREDITS farming campaign is to prioritize different user personas of the protocol and assign weighted KREDITS to their respective actions. This will help us assess product-market fit and understand user behavior.

We will use this understanding to design future farming campaigns by tweaking the weights. In future campaigns, the overall multipliers will decrease over time to prioritize early users.

About Kresko

Kresko’s mission is to make wealth accessible to anyone, anywhere. It is an open platform for synthetic stocks, commodities, and crypto.

Currently, the platform consists of three products: Kresko, a protocol for creating crypto-backed synthetic assets; Cento, a trading and liquidity provision app built on top of Kresko; and Quest for Kresk, a reward system based on KREDITS to gamify user experience.

Access to Kresko is currently in a Closed Beta phase. Be among the first to try it out! Enter the app