Step-by-Step Guide for Phantom Testnet Reward Tasks
🚀 The Phantom Testnet reward is launched on May 20, 2021. We welcome your participation to win a total of $50,000 of PHM in the reward program.
This is a step-by-step guide to help you complete the tasks, simple read on to find out how to complete each task and win (if you need background info about the rewards, you can click here for previous information about the reward program).
Task 1: Connect portal wallet to phantom testnet
In Task 1, you will work on setting up a conflux wallet and earn test tokens. Please follow the steps below to complete task 1.
- Follow the instructions below to install the Conflux Portal Wallet google chrome plugin and create your test wallet address
- Connect to the Phantom test network at https://cfx.phm.finance/
- Fill out the Google form to submit your test wallet address.
- Join the Phantom telegram group, provide your cfxtest wallet address, and apply for test tokens.
Test tokens will be issued to your submitted cfxtest address within 12 hours.
Instructions for Task 1
1.1 Installing the Conflux Portal wallet application
- Open the ConfluxPortal installation page in Google Chrome and click “Add to Chrome”.
2. Select “Add Extensions” in the popup window. You will see a Welcome Page after installation.
1.2 Creating your cfxtest wallet address
- Click on “Get Started” on the welcome page, and select “Create a Wallet”.
2. Select “No, thanks” on the information collection page
3. Set a password of 8 or more digits, check the T&C box, and click “Create”.
4. In the next step, you can either write down the backup phrase or skip this step by clicking “Remind me Later”.
5. Select “Conflux Test Network” in the drop-down list in the upper right corner.
1.3 Connecting portal wallet to Phantom testnet
- Visit the Phantom testnet with https://cfx.phm.finance/ and click the “Connect” button in the upper right corner.
2. Select your account in the popup wallet window.
3. Click “Submit” when the dialog box asking whether to connect the wallet with React App.
4. After the wallet is successfully connected, you can see the address starting with cfxtest in the upper right corner. Please screencap this full page for task submission.
5. Click on the top right corner and select “Copy Address”.
1.4 Submit your cfxtest address to get test tokens
🎉 Yay! Task 1 is almost done.
Now, you can go submit your cfxtest wallet address & screenshot to the google form to finish task 1 and be eligible for 10 USDT of PHM tokens!
🔗 Submit your info here: https://forms.gle/AJFGRy2JocLscD8s8
- Test tokens (2000 CFX, 2000 cUSDT & 0.5 cETH) will be issued within 12 hours.
- Each wallet address can only apply once.
- If you want your test tokens to be sent sooner, feel free to go to the Phantom Telegram Group and ask an admin to send tokens to your test wallet address.
A Friendly reminder: set your wallet auto-lock timer
As the default auto-lock timer of Portal wallet is 5 mins for security considerations, you will need to re-connecting the wallet every 5 mins.
You could change the setting in Setting > Advanced > Auto-lock timer to adjust.
Task 2: Build synthetic assets (pAssets) on Phantom
After receiving test tokens, you can experience the process of generating synthetic assets in Task 2, including crypto pAsset & NFT pAsset.
- Visit https://cfx.phm.finance/ with your Chrome browser to connect to the portal wallet.
- Check your test tokens on the MyInfo page.
Complete the following steps to receive Task 2 rewards:
- Build 1 Crypto pAssets (pBTC or pETH)
- Build 1 pNFT pAssets (pModel3)
- Execute 1 Deposit / 1 Withdrawal for the opened CDP (Collateral Debt Position)
Fill out the Google Form after completing the steps above, please ensure you have pAssets in the wallet during the test period.
2.1 Create synthetic assets
- Go to the “Build” page, you can see the types of synthetic assets Phantom supports, including Crypto, NFT, Stock, and Prediction.
Note: In the testnet phase, we can synthesize Crypto and NFT assets; the Stocks and prediction pAssets will be launched on the main net.
2. Select a category, click on the “Build” button. Select the collateral asset and input amount, then select the pAsset you want to build.
The default collateral ratio is equal to the Minimum collateral ratio +50%, the builder can adjust the c-ratio as long as it is higher than the minimum collateral ratio.
When the collateral ratio drops below the minimum collateral ratio value, the CDP will be liquidated.
For example, we can synthesize pBTC with 1000 cUSDT and fill in the collateral rate of 200%.
3. Once filled, click the “Approve” button. Then select “Confirm” in the Portal Wallet popup.
4. After a successful message appears in the upper right corner, we can continue to click “Build” to generate synthetic assets.
5. After clicking “Build,” select “Confirm” in the wallet popup window to confirm.
Wait a few seconds for the complete message.
At this point, the synthetic asset is created successfully, at the same time, a CDP (Collateral Debt Position) is created as well.
The generated pAssets can be viewed on My Info page: https://cfx.phm.finance/my
2.2 Add Deposit to a CDP
Deposit is the way we add collaterals to a CDP to increase the collateral ratio and reduce the risk of liquidation.
Note: For the safety of funds, each user can only make 1 deposit or withdraw on the same CDP within 5 minutes.
- If you’ve opened a CDP, you can find all positions in the “Build” section on the MyInfo page. To add deposit collaterals to a CDP, select the “···” button and click “Deposit” in the dropdown menu.
2. For example, let’s add 100 cUSDT to the CDP, and then click the “Deposit” button to confirm.
3. Click “Confirm” in the wallet popup window to complete the transaction.
4. Wait for a second until the “success” message appears.
2.3 Withdraw from a CDP
Sometimes builders remove a portion of collaterals from a CDP to take out their assets, which reduces the collateral ratio. Here is how we do it:
- Find all CDPs in the “Build” section on the MyInfo page. To withdraw collaterals to a CDP, select the “···” button and click “Withdraw” in the dropdown menu.
2. Input the amount of collateral you would like to take out, and it will reduce the collateral ratio accordingly.
For example, to take out 10 cUSDT from the CDP:
- Put 10 in the withdraw amount field, making the collateral ratio change to 276%.
- Click the “withdraw” button if you want to confirm the operation.
3. Click on “Confirm” in the wallet to complete the withdrawal.
4. Wait for a second until the successful message appears.
Claim your Task 2 rewards:
🎉 Now you’ve successfully completed task 2, please take a screenshot of the Build section on your MyInfo page and submit it through the official google form: https://forms.gle/AJFGRy2JocLscD8s8
FYI, the screenshot would look something like this:
Task 3: Add liquidity, Stake LP & get PHM staking rewards
😄 Here comes the most exciting part! Who doesn’t like free Tokens?
We will show you how to add liquidity to pAsset trading pairs and get PHM liquidity mining reward by staking the LP token.
Preparation: Please complete Task 1 and 2 above and make sure you have both CFX, cUSDT, cETH, and pAsssets in the wallet.
Complete the following steps to earn Task 3 rewards.
- Add liquidity for pAsset trading pairs in Moonswap
- Stake LP in Phantom
- Claim PHM rewards
Fill out the Google Form after completing the steps above, please ensure you have PHM in the wallet.
3.1 Add liquidity for pAsset trading pairs in Moonswap
- Go to the Pool section of MyInfo page (https://cfx.phm.finance/my), select the “···” button of a trading pair, and click “Provide” in the dropdown menu.
Notes: you need to have both tokens in the wallet to provide liquidity for a pair, for example, you need pBTC & cUSDT to provide liquidity to the pBTC-cUSDT trading pair.
2. The page will be redirected to Moonswap ( a decentralized exchange on Conflux), where we can add liquidity to trading pairs. Fill in the amount of token:
Take the cUSDT-pBTC trading pair as an example:
3. After entering the amount, click on “Approve cUSDT” and “Approve pBTC” respectively and confirm in the wallet too.
4. You can click the “Supply” button after the approval of both tokens.
5. Click “Confirm Supply” to mint the cUSDT-pBTC LP tokens.
Confirm the transaction in your portal wallet.
6. Wait for the success message. You’ve successfully added liquidity and ready to stake!
3.2 Stake LPs on Phantom to generate rewards
- Go back to Phantom. You can select “Farm” of the corresponding trading pair and start pledging LP for liquidity mining.
2. Fill in the amount of LP tokens you wish to stake or click MAX to enter the total amount, click “Approve”.
3. Confirm the transaction in your portal wallet.
4. A success message will appear in the upper right corner after approval. Now click the “Stake” button to continue.
5. Confirm the transaction in your portal wallet.
6. Wait until the success message appears.
3.3 Claim PHM rewards
Liquidity Mining rewards are paid in PHM — the token of the Phantom protocol. Here is how to claim the LP staking rewards.
- Go to the Farm section on the My Info page, view the awarded PHM.
2. Click on the “···” button on the right and select “Claim” in the drop-down menu
3. Confirm to take out all rewarded PHM to your wallet.
3. Confirm In the wallet.
4. Wait until the successful message appears:
5. Go to the Holdings section on the My Info page to see the claimed PHM rewards.
Claim your Task 3 rewards!
Now you’ve successfully completed task 3, please take a screenshot of the Farm page with your wallet info and submit it to the google form’s Task 3 section:
FYI, the screenshot would look something like this:
Bonus Reward — $20 of PHM tokens to you!
Congratulations on finishing all 3 tasks!
Now, remember, you can also earn an additional $20 of PHM tokens if you complete the 3 tasks above and provide at least 140 words of experience feedback in the Phantom Telegram group.
Don’t forget the bug bounty!
Aside from finishing tasks, we are also handing out rewards for anyone who hunts down bugs in the Phantom platform. If you find any bugs during the test net experience period, you can submit a bug report here.
Each valid bug will be rewarded with $50 worth of PHM tokens.
- Phantom testnet runs on Conflux test network
- Test participants will NOT be asked to send cryptos to ANY address for test tokens.
- All the rewards will be issued after public listing.