Zero Jerk Interactive Threads 🪂｜Testing Network with $34M in Funding
[Zero Jerk Interactive Threads 🪂｜Testing Network with $34M in Funding]
Parallel Network (@ParallelFi) confirms incentivized test network.
👇
🗞️ Basic Introduction
Parallel is an Ether Layer2 based on Arbitrum Nitro.
As a cross-margin NFT lending protocol, Parallel allows lending and borrowing using tokens and NFTs, and is designed to address NFT liquidity and asset allocation issues.
Background on 💰 Financing
Parallel closed four rounds of financing, raising a total of $34 million.
🔸 Investors include Polychain, Sequoia Capital, Founders fund and other well-known VCs.
🪂 Incentivized Testing Nets
🔸 Parallel points airdrops are divided into two phases, test nets and early experience nets.
Parallel's aim is to open the test network first to familiarize users, and then open the early experience network to bridge funding.
🔸 Its whitepaper shows that users can earn points in four ways: "Referring Users/Starting a Team/Daily Interactions/Early Experiences".
The whitepaper's presentation gives the false impression that points can only be earned by bridging funding through the Early Experience Network.
🔸 But Parallel tweeted today and made it clear that there will be incentives for test nets, so maybe it's time to consider interactions.
Here is the interaction thread.
🧵🔻
1 Add network
🔻Navigate to the official website of TestNet:
https://testnet.parallel.fi/
🔸The network will be connected automatically after connecting your wallet, if you need to do it manually please refer to:
Network name:Parallel Testnet
RPC: https://rpc-accused-coffee-koala-b9fn1dik76.t.conduit.xyz
Chain ID: 9659
Currency symbol:ETH
Explorer URL: https://explorerl2new-accused-coffee-koala-b9fn1dik76.t.conduit.xyz
2 Leading Water cross-chain + create account
Test coins are needed to create a Parallel account, which requires cross-chaining from Sepolia.
🔻 Etherium mainnet with a balance, collect water here:
https://www.alchemy.com/faucets/ethereum-sepolia
🔻Tweet here to claim if you don't have a balance on the main site:
https://access.rockx.com/faucet-sepolia
🔻 After receiving your water, go back to the official website and navigate to the cross-link interface:
https://testnet.parallel.fi/bridge
🔸 Select ETH at the asset and cross-chain it to Parallel.
Once the
🔸 test coins have arrived, click "Create Parallel Account" at the top right of the page
3 Claim Test Assets, Transfer & Deposit
🔻 Navigate to the wallet screen:
https://testnet.parallel.fi/parallel_testnet/apps/wallet/
🔸 Click 'get test tokens' to get test assets.
🔸 Select an ERC20 token, click 'Transfer', enter the address and confirm.
🔸 Go to EOA Balance and you can see a transfer of ERC20 tokens into your wallet.
🔸 Click "Deposit" to transfer the test coin from the EOA wallet to the AA wallet.
4 Token and NFT Lending
🔻 Navigate to the Lending screen:
https://testnet.parallel.fi/parallel_testnet/apps/paraspace/credit
🔸 Choose any one NFT and click "Supply
🔸 Select an ERC20 token and click "Borrow".
🔸 At the top of the page, click "Repay" and then "Withdrawl" to withdraw NFT assets.
🔸Each asset has a lock-in period, after a period of time, click "Claim".
5 More Exploration and Interaction
🔸The "Apps" on the left side of the account has three other interactions
🔸Both AAVE and Uniswap are not open for interaction at this time and will have to wait.
🔸The Airdrop interface is for grouping, look for the invite code on the official Twitter feed (@ParallelFi).
(This grouping feature might not be useful on a test network, though.
It should be geared towards real asset bridging on early experience networks)
Ok, this is the end of the thread, happy interacting, DYOR ~ ☺️
