The ChainedThrift Alpha testing program begins on Monday 27th September, 2021 and would span a period of 30 days. This program has been split into 3 different phases:
Phase 1 — Onboarding phase: This would begin with the release of a form to collate users feedback as well as guide them on processes of getting started with testing, conditions and further communication.
Phase 2 — Beginning of the challenge: This is where the real fun begins. The aim of this program is to test all aspects of Validation, including purse creation/joining, voting, staking, delegated staking, rewards and withdrawals.
Phase 3 — Secret: Well… We won’t say a word about that for now… be patient!
How to participate?
The first step to participate in the Alpha Testing Program is to join our Telegram community: https://t.me/web3bridge.Every information or update related to the program will be communicated there. The other technical steps are outlined as follows:
Head to our DApp website: https://chainedthrift.com/
Click on the “Launch App” button at the bottom of the homepage.
Ensure you have a wallet extension (Metamask or Wallet Connect) enabled on your device (preferably a laptop). Restore your existing wallet using your wallet passphrase or create a new wallet.
Click on the “Connect Wallet” button at the top right corner of the page to link your wallet. This is an automatic process. Your wallet address should reflect where the “Connect wallet” tab is.
Switch your network from the Ethereum mainnet to Rinkeby test network on your wallet provider (Metamask or Wallet Connect).
Go to https://faucet.rinkeby.io/ or http://rinkeby-faucet.com/, paste your wallet address in the space provided to request for some test Ether, to be used as gas when requesting for test DAI tokens.
After receiving test ether, click on “Get test DAI” to claim some free DAI tokens. This would link you to the rinkeby test faucet contract on Etherscan.
Click on “connect to web3” to link your wallet to the contract and then paste your address in the “claim airdrop” function and “write”. This automatically gives you 200 test DAI tokens.
Toggle the “Purse” tab on the DApp homepage where you can either create a new purse or join an existing purse.
If you’re creating a new purse; Select the amount of DAI you want to get started with, (N.B.: The same amount of DAI would have to used as collateral). Next, input the number of people that you want in your thrift as well as the number of days for the thrift cycle.
If you’re joining an existing thrift purse, check for purses that suit your taste and join one. Note that, you’d also have to deposit a collateral relative to the amount that you want to deposit in the purse.
When You Click on any of the Purses that you belong to, you'll see a dashboard
One of the first things you'd see at the top is PURSE ID, which is the address of the purse on the blockchain.
You'd also see to the top right, a button with the label - "Move funds to bentoBox" - bentoBox is the vault where all collaterals go into which then generate yields for every member. You can read more about it. The funds can be moved by any member but only when all needed number of members have joined.
The dashboard overview section also contains other details such as number of members and remaining members, total amount of collateral, e.t.c.
We've got something very interesting here- a chat room, where all purse members can chat and decide the order of funds being disbursed to members. sweet!. You can decided to chat on other issues too. (Interestingly, this is not functional yet, but we'll be working on it shortly)
Here's another section of the Dashboard - the actions section where after agreeing on who to disburse funds to(everyone has to)- You can copy the user address and everyone votes for the person - that way, the contract can properly keep track of this, which helps to mitigate against someone receiving funds more than once in a cycle of contribution.
You can copy members address by clicking on the button to the top right with the label “PURSE MEMBERS”
Also notice the “DEPOSIT HISTORY” button on the actions section, it displays purse address if a person has received funds as well as the number of votes the person already has to receive funds at a particular cycle of contribution.
Once the cycle of contribution is done, the collaterals gets disbursed back to members with the yields and the purse will no longer be seen - it self destructs.
Submit your responses here: https://bit.ly/3ES0Wiq
You need to be following us on our Twitter and Telegram channel
N.B.: All platform testers are automatically entered in for an NFT drop, however only users who submit detailed responses would be eligible for the airdrop which can be redeemed for the platform’s native tokens upon full product launch. We will stop accepting responses for the tests on Wednesday, 27th October, 2021.
This is really great...Innovative ways to help Africa! Thanks Web3Bridge
This is very nice, ran smoothly, no issues at all... Hoping to see other prospect features. Best wishes!