Testnet FAQ
1. When is the Testnet?
The ZKX Testnet is scheduled to take place in three phases –
Phase 1 — Closed Testnet
Duration: 72 hours
Date: 27th March to 30th March
Product scope: Portfolio and Trading pages with limited functionality
Availability: Only available to DegenScore Beacon holders
Aim: Get high-quality feedback and help prepare for the mainnet
Rewards: Yakuza NFTS (Level 1- Shateigashira) Whitelist and rewards in future $ZKX tokens.
Phase 2 — Public Testnet
Duration: 2 weeks
Date: 30th March to 14th March
Product scope: Portfolio and Trading pages with limited functionality
Availability: Open to everyone and CryptoTesters Community
Aim: Test the limits of the protocol & gather a broad range of feedback
Rewards: Yakuza NFTS (depending on your hierarchy in ZKX Yakuza ) and rewards in future $ZKX tokens.
Phase 3 — Trading Competition
Duration: 2 weeks
Date: 14th April to 1st May
Product scope: Portfolio and Trading pages with PnL tracking
Availability: Open to anyone
Theme: 2 Types of themes to be revealed closer to the date
Rewards: USDC, NFT Whitelist, and rewards in future $ZKX tokens.
During the Trading competition, there will be exciting new Quests and Bounties to participate in. These challenges will be based on factors such as liquidation, PnL, and trading volume, adding a unique twist to the competition.
2. What can I do on the ZKX Testnet?
The two key objectives for Traders on the ZKX Testnet are to evaluate the performance of ZKX as a product and technology and to provide valuable feedback to the community for improving the product.
In terms of experience, you will get
- 3 UI options
- 2 trading pairs
- Upto 20x Leverage
- 6 market order types
- Leverage slider
- Direct onboarding from L1
- An innovative funding rate mechanism
3. Can I view the ZKX Smart Contracts?
Yes, ZKX's smart contracts will be open source, giving you the ability to examine what we have been working on. It's important for us to follow the ethos of the community and strive to share and build together.
4. Which pairs are supported on ZKX Testnet?
Initially, we are starting with ETH-USDC and BTC-USDC. Moving ahead, we can bring any type of digital asset on the chain into the system via our data provider system.
5. Which wallets will be used?
Metamask, Wallet Connect and CoinBase Wallet will be available for Testnet
6. Why is it an L1 wallet?
When you create an account on Testnet using your Ethereum L1 wallet, a corresponding Starknet L2 wallet will be automatically generated. This L2 wallet will hold all of your funds, positions, orders, and trades, making account management more convenient. You can easily control your L2 wallet directly from either L1 or L2. To provide users with a starting balance, every new account created in the system will come pre-loaded with 10,000 USDC.
7. How many order types are available?
We offer 6 different order types: Market, Limit, Stop Limit, Stop the Market, Take Profit Limit, and Take Profit Market. Additionally, each market allows for simultaneous long and short positions, and limit orders come with various parameters, including time and force policies, order cancellation options, and post-only options. Leverage can go as high as 20x, and stop orders are available with customizable Time in force policies.
8. What are the 3 different views of the platform?
The platform has three different views: Standard, Advanced, and Professional. While all tools are available during the Testnet phase, more features will be gradually released as the testnet evolves.
9. How can I add testnet collateral to begin trading?
No testnet collateral is required to start trading on ZKX Testnet. Upon connecting your wallet, an account will be created with a pre-loaded balance of 10k USDC. At present, the deposit function is not operational.
10. Why am I interacting on an Ethereum testnest (Goerli) if you’re on Starknet?
You interact on the Goerli testnet because ZKX's native network is StarkNet, a zero-knowledge rollup that operates as a Layer-2 solution with Ethereum as its security layer. As a result, you can manage your account on L2 using your L1 wallet and fund your account with ERC-20 L1 tokens.
11. Why can't I deposit / withdraw on the Testnet?
Deposits and withdrawals are currently disabled for Testnet. Your account will have a $10k USDC starting balance when you connect your wallet.
12. How does ZKX Liquidation Mechanism work?
ZKX's liquidation system and Risk management (Delevarging) are integrated into a unified component in the TestNet. It enables users to minimize chances of being liquidated with the sudden market movements via tools of deleveraging (decreasing position leverage to move away from liquidation) and liquidation as a final trigger when deleveraging can't go lower.
13. How do I report an issue?
To report an issue, we have set up a streamlined feedback process using an open source issue tracking tool called Redmine. You can easily access it from the top navigation on Redmine. Once you submit your feedback, our direct line will detect it and quickly pass it to the relevant team, resulting in a shorter feedback loop and faster resolution. Additionally, we will soon be opening channels on Discord for users to share their feedback.
14. How long will the Test network last?
Our team will gradually release testing functionalities, following the principles of major application development used by large Web3 and Web2 projects. This may involve multiple Testnet releases and monthly updates until all Mainnet features are available on Testnet. We plan to bring all Mainnet features to Testnet, with either two Testnet releases per month or more frequent updates.
Please note that our timeline will remain flexible to adapt to any circumstances or conditions. However, the plan above is what we aim to accomplish. Between the key dates, we will host multiple quests and bounties going live from the 27th March for you to get involved.
About ZKX
ZKX is the first perpetual futures exchange on StarkNet with self custody and true community governance. The protocol is designed to provide further scalability with a decentralized node network, an elevated trading experience and offer perpetual swaps and derivatives to any user on Starknet and Ethereum. ZKX’s mission is to democratize access to global yields through its offerings to anyone, anywhere.
In July, ZKX raised $4.5m in seed funding from backers including StarkWare, Amber Group, Huobi, Crypto.com and others.