Preamble

I am very honored to be invited by the project to share my experience of operating in the testnet with you. First of all, I am not a very strong Defi player, and I am very lucky to win the first place in this TiTi Test Tournament. Secondly, I am writing this article to share my experience in order to introduce some of the highlights of the TiTi Protocol program to you, and also for you to participate better in similar test nets in the future. Due to my limited experience and ability, I am mainly trying to draw inspiration and welcome rational discussion. Finally, I would also like to thank the TiTi Protocol project for providing the motivational test network.

The article will focus on the following aspects.

• TiUSD core principle (How to stabilize at $1?)

• TiTi test net rules

• Ways to earn TiTi

• LP Mining

• Use-to-Earn

• TiTi-Staking Pool

• My Strategy

• Summary

• Project Information

TiUSD Core Principle

About TiUSD core principle, actually I have written an article "TiTi Protocol: How TiUSD is stabilize at $1" before. article, you can read it if you are interested, here I am also summarizing it briefly.

**There is a protocol to issue TiUSD at a price no less than $1 and to buy back (destroy) TiUSD at a price no more than $1. **For more in-depth content, read the article I wrote above or check out the official documentation titi-stable-theory).

Champion Rules

Before I share my experience, I would like to briefly introduce the rules of TiTi's incentive test network operation, because only after we really understand the rules can we maximize our benefits (users who already know the rules very well can skip to the next part of the content).

• Duration：UTC 12:00:00 08/01/2022 - UTC 12:00:00 08/29/2022

• Prize Money Pool：$17,000

• Prize Money Pool:：

  • 1st Place：$500

  • 2nd-3rd Place：$200

  • 4th-6th Place：$100

  • 7th-100th Place：$40

  • 101st-400th Place：$20

  • Prize Money Pool：Randomly select 20 participants ranking 1~1000 everyday $10

• The more TiTi you have, the higher you rank and the more you can win the championship.

• You can claim 10,000 Mock-USDC every 24hrs.

• In the testnet, TiTi/TiUSD/MockUSDC transfers between users account are banned to make sure the championships is fair for every competitor. There won't be any such restrictions at mainnet.

According to the above rules, we can understand that to win the grand prize we have to STAKE lots and lots of TiTi and the way to get how much TiTi will determine whether we can rank high or not. According to the official test guide, we know there are 4 ways to earn TiTi, they are MMF, LP Mining, Use-to-Earn, and TiTi-Staking Pool. Below I will describe how I use each of these four ways to earn TiTi.

Ways to earn TiTi

MMF (Total Reward: 1500000 TiTi)

Market Making Fund, the fund are assets portfolio in contract provide by users for unilateral market making without any limit.

In layman's terms, this means that users will take other assets into MMF to get the original asset rewards and the TiTi rewards, which is what new users need to do when they first come to the test network.

I was able to take the 10,000 Mock-USDC test coins that I received through MMF to MMF, and I got a lot of TiTi in a few minutes (the APY was very high when the test network was first launched, up to tens of millions).

The TiTi gained through MMF is collected in real-time, we can check the reward in the take interface and CLAIM at any time.

LP Mining (Total Reward: 3,000,000 TiTi)

This one, which I believe players in the Defi space are familiar with, is to add liquidity to TiTi and TiUSD (TiTi Protocol's stable coin) in Uniswap and then stake the liquidity into TiTi Protocol's contract.

What we need to pay attention to here is the gratuitous loss, because when the price of TiTi fluctuates drastically, we will face a very high gratuitous loss, which I believe you all felt towards the end of the test network.

The TiTi obtained through LP Mining is available for collection in real-time, we can check the rewards in the take interface and can CLAIM at any time.

Use-to-Earn (Total Reward: 2400000 TiTi)

There are three official Use-to-Earn rewards defined in this module.

1. Buy TiUSD in MAMM (Total Reward: 800000 TiTi)

2. TiUSD Holder (Total Reward: 800000 TiTi)

3. Buy TiTi in Uniswap (Total Reward: 800000 TiTi)

The first way is to buy TiUSD in MAMM to receive the reward, that is, the website shows the SWAP module and you can swap mUSDC to TiUSD.

The second way is to just hold TiUSD in your wallet. This way was okay when the testnet was first launched, and you could get a few thousand TiTi per day, but as the testnet runs and the rewards get smaller and smaller, I gave up on this way.

The third way is to swap TiUSD to TiTi in Uniswap, this is also easy to understand, the important thing is that this can repeat the transaction and thus increase the amount of TiTi gained. The picture below shows the TiTi I earned through the Use-to-Earn module.

Finally, TiTi earned through the Use-to-Earn method cannot be CLAIM in real-time and must be CLAIM until the day before the end of the testnet.

TiTi-Staking Pool (Total Reward: 500,000 TiTi)

In this module, we just need to TiTi stake to the TiTi Protocol contract to get the reward. In addition, during the test network operation, there are 3 periods of 7 days each, and the rewards will be issued at the end of the countdown.

The important point to note when participating in this pool is that we should stake 30 TiTi into the TiTi-Staking Pool first, and do not immediately stake any excess TiTi in our wallets, because we still need liquidity to trade. And there is a 7-day challenge period to withdraw it after staking.

This is the end of the 4 ways to get TiTi, why do I have to spend so much time on this? Back to the beginning, because only when we fully understand the rules can we maximize our benefits. Also to make you less confused when reading the strategies I wrote. So much for rambling, here is my strategy for TiTi testnet.

My Strategy

Attentive readers will be able to spot my strategy when they see the picture in the Use-to-Earn introduction. That's right, the strategy I implemented is to earn a lot of TiTi in the Buy TiUSD in MAMM and Buy TiTi in Uniswap modules. In addition, I earned TiTi by adding liquidity to the LP Mining module when the test network was first opened.

I wrote a program to swap mUSDC to TiUSD and swap TiUSD to mUSDC, so I was able to swap back and forth the trading volume, and at the beginning, I was able to earn TiTi rewards up to 10000+ per day. However, there is a downside to this approach, that is, due to trade slippage, every time I trade I will face a loss, to solve this problem, I set a loss line. As long as my loss is less than the amount of TiTi I can get, then I still end up making money.

The Buy TiTi in Uniswap module is interesting because we all know that when everyone goes to buy TiTi, the price of TiTi will be very high and the price of TiUSD will be very low, and vice versa. Also, we all know that no one can predict what it will be, so at first, I would face relatively big losses when swapping TiTi to TiUSD and swapping TiUSD to TiTi. But after trading for a while, I noticed that TiTi's price had a range of variation (which occurred only because of the test network where everyone was swiping trades), so I wrote a program to monitor how TiTi's price changed during the day. Then I wrote another arbitrage program based on the price change of TiTi during the day so that I can continuously earn TiTi by taking advantage of the spread.

For example, when the program detects that the price of TiTi is greater than 1000, the program automatically swaps 1000 TiTi to 1000000 TiUSD; when the program detects that the price of TiTi is less than 500, the program automatically swaps 1000000 TiUSD to 2000 TiTi; after one round of swap, the program successfully earns 1000 TiTi.

By Buy TiTi in Uniswap, I earned both the reward in Use-to-Earn and the TiTi spread. The last thing is to add part of the earned TiTi spread to LP Mining and part of it to the TiTi-Staking Pool so that the passive income can be generated continuously.

Finally, you can receive 10,000 Mock-USDC every 24 hours, which can be fully used for Buy TiUSD in MAMM slippage.

Summary

I am very happy to participate in TiTi Testnet Championships, the whole participation process is very comfortable and smooth I didn't encounter any serious mistakes. Also, it is important to participate early in a test network like this type. This is because the APY at the beginning of the first mining period is frighteningly high, which also lays the foundation for the later operations. There is nothing particularly profound in my strategy. It is simply a matter of familiarizing yourself with the rules and then using them to maximize your profit.

Finally, I hope you will pay more attention to the TiTi Protocol project, the Discord community often holds various activities that are directly sent U rewards and do not play false, unlike some projects that are PUA users. Finally, the project has received a $3.5 Million investment, which is worth watching.

Project Information

docs: docs.titi.finance
Homepage: titi.finance
Telegram: t.me/titiprotocol
Discord: discord.gg/UpJkJ95Bvb
Twitter: twitter.com/TiTiProtocol
Medium: titiprotocol.medium.com
GitHub: github.com/TiTi-Finance/TiTi-Protocol
whitepaper: docsend.com/view/ut47u5z5p5his8id