As a user, you’ll be able to complete a checklist of tasks, both on-chain and off-chain, and receive rewards, including eligibility for a $TAPIO airdrop once the token and governance go live on the Mainnet.

Security and resilience are the number 1 priority when it comes to building the middle layer for LST liquidity, and a testnet deployment is merely one avenue of ensuring we’re road-tested before going live on Mainnet.

As such, Tapio Finance will have the following features completely functional:

• Mint tapETH: Deposit Goerli ETH, Goerli stETH or Goerli rETH into Tapio Finance’s pools, thereby minting tapETH in the process.
• Swap: Easily swap between Goerli ETH, Goerli stETH or Goerli rETH with low slippage and excellent exchange rates.
• Redeem tapETH: Redeem your tapETH for any combination of either Goerli ETH, Goerli stETH or Goerli rETH.
• Claim Rewards: Claim your tapETH rewards, which consist of staking yield from the underlying LSTs, as well as swap and redemption fees generated by the protocol.

Heres how to join Tapio Finance Incentivized Testnet

On-Chain Tasks (check for completion once an hour):

• Mint tapETH (Try to mint using a combination of assets for best results)
• Redeem tapETH (Try to redeem multiple assets for best results)
• Use the swap function (Only need to do this once, but allows you to swap between assets for minting/redemptions)

Off-Chain Tasks:

• Follow @tapiofinance on Twitter
• Like @tapiofinance’s Testnet Announcement Tweet
• Retweet @tapiofinance’s Testnet Announcement Tweet
• Join the Tapio Finance Discord Server
• Join the Tapio Finance Telegram Group

Rewards

Once all tasks have been completed and validated within the Zealy Community Board, you’ll be able to claim the rewards – namely the Tapio OG NFT (done by claiming the NFT quest within Zealy and then sending the NFT to your Polygon wallet), which represents your commitment to Tapio Finance and participation in its testnet – and will be claimable within Zealy as a dedicated quest.

FOLLOW TAPIO PROTOCOL

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Tapio Protocol Website Redesign. In order to help users understand the project and product easily, regardless of how familiar they are with the ecosystem. They are excited to share with you that we have revamped our website from the ground up.

They’ve realised the story around Tapio may be a confusing & daunting one for individuals new to Acala & Polkadot in general, & as such.

They’ve also decided to rework the key messaging from focusing on Tapio Protocol itself & instead more on tDOT, with the slogan: tDOT – the better way to hold your DOT. Let’s dive in and explore what they’ve added.

Straight and to the point

After spending considerable time among the community, our ambassadors as well as introducing ourselves to potential partners, it became clear that the narrative around Tapio Protocol was not clear, regardless of what kind of user you were.

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Not clear for the average retail user

While they’re still tackling the same problem of fragmented liquidity within the Polkadot ecosystem with our StableAsset pallet and StableSwap mechanism, their top priority is filling tDOT with liquidity which can facilitate a variety of functions both on the Acala Network, and eventually, other parachains. As such, we must cater to our audience as best we can, which is what we strive for.

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Previously, if you wanted to check out stats like the APR, circulating supply and so on, you’d have to head to multiple places within our dApp and dashboard. While the key focus is transparency & providing the community which as much data as possible. They also want to make headline metrics simple &  easy to view & hence they’ve included a real time banner on the homepage as shown above.

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They’ve also included the 2 in-depth audits Tapio Protcol has gone through, courtesy of Security Research Labs, as previously it was difficult to find as you’d have to go through either Tapio’s or Acala’s Github to access them.

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If this is all you read about tDOT, you’ll still have a more than functional understanding

The team also felt that the explanation of the underlying mechanism that enables tDOT, taiKSM and 3USD was not clear enough and so they dedicated a page to explain it to the average user, appropriately named “Technology”. They begin with a simple explanation with an appropriate graphic, to serve as a 30 second intro to tDOT. Their motivation is that if a user were to leave the site, they’d have enough of an understanding to explain it to others.

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If however, the user would like to learn more, they could scroll down further and be met with an interactive graphic of how tDOT is actually minted from an architecture perspective. By hovering over the individual “steps”, you’re able to easily identify which function relates to an aspect of the process.

All in all, for users, both knowledgeable, and new to Tapio or the Polkadot ecosystem at large The new website will provide both a functional and educational experience about the mission & the great product that is tDOT.

About Tapio & Taiga

Tapio a synthetic asset protocol enabling efficient liquidity for staking, crowdloan & uniform assets. Designed to remove liquidity silos by synthesizing different formats of derivatives into a highly usable synthetic asset on Polkadot. Taiga is the mirror implementation of Tapio on Kusama.

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Tapio is an advocate of Polkadot’s shared security model, Substrate framework, appchain capability, and parachain slot auction mechanism. Despite the innovation, they anticipate a thriving Polkadot ecosystem challenge due to liquidity fragmentation cause by derivative tokens.

The platform finds derivative tokens proliferating on networks with prevalent DeFi use cases. Using Ethereum for example, there are numerous formats of ETH from lending, staking, and yield aggregation applications (for example, ETH, cETH, stETH, rETH, etc.). They envisioned a magnified situation would occur on Polkadot given the two major use cases for DOT are staking and crowd loans.

Tapio Protocol was built with one goal in mind, and that is to make staking and crowd loan DOT derivatives more usable for all parachains and dApps on Polkadot. They accomplish this by unifying different formats of DOT derivatives into a single highly usable synthetic asset, tDOT.

Furthermore, tDOT empowers by the Stable Asset system and gets support from a highly efficient stable swap liquidity pool composes of native DOT and DOT derivatives. tDOT is currently live on Acala where we launched first, and the asset demonstrates numerous sustainable benefits for parachains, dApp builders, DOT holders, and traders.

Tapio Protocol introduces a unified liquidity standard for staking and crowdloan derivatives. Its designs with the intention of being truly complementary and composable with parachains. Its approach and solution will play an integral part in realizing a highly secure and frictionless multichain vision set out by Polkadot. Users can start using tDOT today in the Acala App, or follow its guide on how to start it.

THE TAPIO FUNDRAISING

To realize this vision, Tapio Protocol is excited to announce that the platform has raised $4M in seed round funding. The event was led by Polychain, Hypersphere, and Arrington. Along with Spartan, are LongHash, 0xVentures, CMS, D1 Ventures, and 11–11 DG Partners. Also part of the events is Genblock, Valhalla, PAKA, Double Peak, Illusionist Group— and a number of incredible angel investors.

ABOUT Tapio Protocol

Tapio is a synthetic asset protocol enabling efficient liquidity for staking and crowdloan derivatives. Its design removes liquidity silos by synthesizing different formats of derivatives into a highly usable synthetic asset on Polkadot.

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