This month marked the launch of the MAYZ Protocols Incentivized Testnet. Users will be able to earn MAYZ tokens in exchange for testing the protocol’s various functions. This crucial step in the protocol’s journey brings it one step closer to being one of the first decentralized index funds on the Cardano blockchain. This article delves into MAYZ, its incentivized testnet launch, and more.

How to Participate in the Incentivized Airdrop

The MAYZ Incentivized Testnet will run until April 10th, 2024. The Testnet will help the MAYZ team determine how well the protocol is running, how secure it is, and to discover any potential bugs before the protocol’s Mainnet launch. Those who participate in the Testnet will earn a share of 3,000,000 MAYZ tokens that are allocated for the MAYZ token airdrop. To claim the maximum airdrop amount, testnet users will need to complete multiple steps. To participate in the Incentivized Testnet, users can head to https://testnet.mayz.io/.
To receive the maximum airdrop allocation, make sure you complete each of the following steps. For steps 6 through 9, you’ll receive double airdrop points if you share your testnet achievements on social media using the “share” function.

1. Register for Incentivized Testnet Rewards: Google Forms Link
2. Set your Cardano wallet to the Preview Network.
3. Request Test ADA at the following link: Cardano Testnet Faucet
4. Send 2 tADA to the following address to request Test $MAYZ: addr_test1qp7sdszpnc09mj4x9k0830lwkeexyqm04qdhsvs88kkxdndvyd9zpxkg8hrchyrmdvnpe0fuljl6spgdg3xeuhjgj4ksncykcq
5. Log in on the Testnet platform and link your Mainnet Address with your Preview Testnet Address used in the platform at the following link: https://testnet.mayz.io/portfolio?Task=IncentivizedTestnetProgram
6. Buy Fund tokens from any Index Fund.
7. Buy Fund tokens and create a swap offer. Note that you must first acquire some Fund Tokens, to add to the liquidity, and have MAYZ tokens, because you will need to lock them within the Offer you want to create. The swap offer can be made by going to “Portfolio” then navigating to “My swap offers” then selecting the “Create” option.
8. The next task will require testnet users to buy Token Funds, create two swap offers, delete a swap offer, and then withdraw and burn the fund tokens.
9. The final task is to delegate and withdraw MAYZ tokens. First, you’ll need to head to the “Fund Details” page, select any fund, and press “Delegate MAYZ”. Once your tokens have been delegated, withdraw them from the fund delegation.

Any bugs encountered during the testnet process can be reported here.
If you’re new to Cardano and want to try out the testnet. Popular wallets are Eternl, Nami, and VESPR.

Benefits of Decentralized Index Funds to the Cardano Ecosystem:

Decentralized index funds provide significant advantages for both users and the Cardano ecosystem. They allow users to mitigate risk through diversified investments and make the blockchain more accessible to a wider range of investors. Additionally, these funds enhance liquidity and stability within the ecosystem, encouraging more participation and investment. By promoting innovation and competition, they lead to better fund management and greater value creation across the Cardano network. In summary, decentralized index funds act as essential tools for fostering growth, engagement, and broader adoption of the blockchain.

About MAYZ Protocol

MAYZ is a decentralized index fund protocol that allows users to invest in the Cardano Ecosystem. Protocol users can create or manage Cardano funds, which will allow users to invest through purchasing MAYZ Index Tokens, which represent a share of a basket of Cardano tokens. The token will also be required to create a Fund or provide liquidity through Swap Offers; users will need to stake $MAYZ in the Protocol. Investment funds in the protocol will enable users to invest in various index funds of a basket of Cardano native tokens, dictated by specific investment units (IUs) that outline the fund’s asset composition and strategy.
You can find out more about MAYZ at the following link: https://mayz.io/

Conclusion

The launch of the MAYZ Protocols Incentivized Testnet is a significant step forward for the Cardano ecosystem, bringing it closer to the introduction of decentralized index funds. This initiative is not only pivotal for the project’s progression toward its Mainnet launch but also offers an engaging opportunity for community involvement and reward. By democratizing access to decentralized financial instruments, MAYZ is paving the way for broader adoption and a more inclusive future within the Cardano ecosystem.