The team is excited to announce the second phase of Tapio’s testnet campaign - focused on integrations of $tapETH!

With Phase 1, the community has been incredibly engaged and involved with testing Tapio’s dApp and core functionality and we’re exceedingly thankful for all the feedback and ideas users have provided and suggested to us.

However, for Phase 2 - we’re turning up the intensity by focusing primarily on how $tapETH can be utilized in downstream applications, and rewarding users who experiment with doing so within the Goerli testnet - specifically with the projects Maverick Protocol and Gravita Protocol. Pendle Finance however, does not have a Goerli deployment, however there will be a multitude of off-chain tasks, including educational quizzes to prepare you for mainnet integration!

As such, users will be encourage to complete a checklist of tasks, both on-chain and off-chain (much like Phase 1), with a focus on the greater Tapio ecosystem.

Phase 2 of the Testnet campaign will run from August 7 to August 31 and will be accessible at zealy.io/c/tapiofinance/questboard.

Tapio Finance: https://test.tapio.finance

Maverick Protocol: https://testnet.mav.xyz/

Gravita Protocol: https://goerli.gravitaprotocol.com/

Pendle Finance: https://pendle.finance

The Downstream Integrations of tapETH on Testnet:

Maverick Protocol:

As the most capital efficient DEX within DeFi, establishing Maverick Protocol as the home of tapETH (in the form of a tapETH-ETH pool and eventually, as tapETH-TAPIO) is the most logical choice. As a user, you’ll be able to engage in a number of functions:

• Deposit liquidity: Add either tapETH or ETH (or both) into the dedicated tapETH-ETH pool within Maverick, earning swap fees, token incentives as well as the underlying tapETH yield.

• Swap tapETH to ETH or ETH to tapETH: One of the important features of tapETH is that while pegged to ETH, it can still fluctuate based on market activities which means as a user, you can profit off tapETH’s mispricing.

  For example, if tapETH is worth >1 on the market, you could mint it 1:1 with LSTs or ETH within the Tapio Finance dApp, then sell it using Maverick to realise profit. On the other hand, should tapETH be worth <1 in the open market, you could buy it at a discount on Maverick, then redeem it within the Tapio Finance dApp 1:1 with any combination of underlying assets, realising the arbitrage.

  Both of these mechanisms not only contribute to tapETH’s peg against ETH, but also provide meaningful arbitrage opportunities, and by extension, fees for both Tapio and Maverick users.

Gravita Protocol:

Stablecoins within LSTfi have grown considerably over the past several months, and one of the most successful within the space is Gravita Protcool. At Tapio Finance, one of our focuses is maintaining liquidity, but also increasing capital efficiency - being able to mint $GRAI (Gravita’s stablecoin) by using $tapETH as collateral is instrumental in enabling this, whether to leverage your $tapETH position and yield, or simply explore other opportunities while maintaining your $tapETH. As a Tapio Finance user, you’ll be able to do the following tasks:

• Create Vessel: Deposit tapETH as collateral into a Gravita vessel.

• Borrow $GRAI: Once you’ve deposited tapETH as collateral, borrow $GRAI against your position.

• Supply GRAI into Stability Pool

Why and How to Participate?

Like with Phase 1, testing an application or integration within a safe and risk-free environment is crucial to stress-testing assumptions even before live on mainnet, since there isn’t any tangible downside or risk to user funds. The Tapio dApp and product has been relentlessly used and explored by tens of thousands of users and we want this methodology to continue, especially now that we have a USDC-incentivized bug bounty in partnership with Immunefi which can be accessed here:

As such, now we need to experiment and test the use of tapETH within downstream applications, as intended once Tapio Finance is live on mainnet - as well as the user experience from a qualitative standpoint. You will also be able to complete educational tasks about both Maverick and Gravita in the form of multiple-choice quizzes - a great way to upskill your knowledge and become a champion of both protocols!

To access the testnet dapps:

Tapio Finance: https://test.tapio.finance

Maverick Protocol: https://testnet.mav.xyz/

Gravita Protocol: https://goerli.gravitaprotocol.com/

Campaign Tasks:

Just like with Phase 1, the following tasks will be able to claim and complete within our Zealy questboard, which will include both off-chain and on-chain tasks and are as follows:

On-chain:

• Supply tapETH or ETH liquidity into Maverick Protocol’s tapETH-ETH pool

• Swap tapETH <> ETH on Maverick

• Create Vessel on Gravita with tapETH

• Borrow $GRAI against tapETH on Gravita

• Supply $GRAI to Stability Pool

Off-chain:

• Like and Retweet Phase 2 Twitter Announcement

• Have the Tapio OG Quest Claimed

• Follow Maverick Protocol on Twitter

• Join Maverick Protocol Discord

• Follow Gravita Protocol on Twitter

• Join Gravita Protocol Discord

• Follow Pendle Finance on Twitter

• Multitude of educational quests

Check out our Testnet Guides for Phase 2 here:

Rewards:

Once all the tasks are completed within our Zealy community questboard, you’ll be able to to claim the rewards from Phase 2 of the campaign - namely the Tapio Explorer NFT (done by claiming the NFT quest within Zealy and then sending the NFT to your Polygon wallet), represents your investment within Tapio not only from a protocol perspective, but also when it comes to utilization of tapETH within the wider DeFi ecosystem.

Unlike the Tapio OG NFT in Phase 1 however, we are limiting this to only 15,000 mints - so be fast!

Doing so entitles you the following:

• Tapio Explorer Role - Which ensures benefits and rewards down the line

• Tapio Finance Swag - We want our users and community members to be able to represent Tapio within the Ethereum and greater DeFi ecosystem and will ensure we have some excellent merch

• Second $TAPIO Airdrop Eligibility - $TAPIO of course will be our utility-focused protocol token that will be used for governance, earning of fees generated by Tapio Finance (once we go live with our treasury in the future) and used for incentivisation - this will be on top of the OG distribution

• Future Campaign Benefits - This can include a bonus or booster to our subsequent campaigns, especially our Mainnet campaign, The Tapio Trek, which will have it’s own airdrop component (and will stack with the campaign bonus you receive from the Tapio OG).

Should you complete all the educational tasks, you will be able to gain the Educated role which will seperate you from the rest of the community within Discord, however will not have any extra benefits at this time.

What Else Do I Need To Know?

Make sure the Ethereum address/wallet you’re using on the Testnet (as well as Maverick and Gravita) is the same as the one you’ll be using for connecting to Zealy as we have to reconcile whether or not you’ve completed on-chain tasks accordingly.

We’ll be rewarding especially involved and contributing users so be sure to share the campaign and use as much as you like to increase your chances! Rewards TBD.

To learn how to acquire Goerli ETH, Goerli rETH and Goerli stETH, check out this guide we’ve made for you here. The easiest way would to guarantee your chances is to swap some Eth from mainnet using the LayerZero bridge however using multiple facets will work perfectly fine.

If you need assistance with how to use Tapio’s dapp, or Maverick and Gravita’s, check these tutorials out:

Stay Updated

We want to work with anyone within the LST and LSTfi ecosystem, and we call on anyone invested in the long-term future of Ethereum and liquid staking, in general, to join us on this journey - follow us on Twitter and join the rest of the community on Discord, as well as our Blog.

Website: https://tapio.finance

Documentation: https://docs.tapio.finance

A rising tide lifts all boats - JFK