Dear Vanilla community - It’s time! We are deploying a testnet version of Juicenet on Mumbai/Polygon.
They don’t call it “testnet” for nothing - so here’s a list of things we’d like to test out:
- Ease of use of Juicenet
- That the backend works flawlessly
- How juicers create their own portfolios
- What the aggregate signal looks like in real-life
To mimic real-world behavior, let’s organize a competition among all VNL holders (snapshot on 21st Feb). The game is simple: The Juicer that makes the largest return % during a 2-week testing period will win $500 in VNL.
To enter the competition, submit feedback alongside the address, where you hold your JUICE.
The competition/testing period will start on Wed 23rd Feb at 10:00 UTC and end two weeks later on Wed 9th Mar at 10:00 UTC.
Here are the instructions for testing out the app:
(after Wed 23rd Feb at 10:00 UTC)
Go to TESTNET Polygon (MATIC) Blockchain Explorer and enter the address, where you hold your VNL. You should see a JUICE airdrop that matches the amount of VNL you own.
Juicenet lives on Polygon, which operates on MATIC. To get some testnet MATIC, go to Polygon Faucet, fill in the form (Mumbai network, address where you hold JUICE), and submit. In a few minutes, you should see 0.5 MATIC in your wallet.
2. Go to beta.vanilladefi.com & try to…
Connect your wallet
We highly recommend you to use Metamask desktop for the testnet. If you use a mobile wallet with WalletConnect, you need to add Mumbai network parameters manually. To do that, click here for instructions.
Deposit JUICE to Juicenet
Open a long position on a token
Open a short position on a token
Edit a position
Close a position
Withdraw JUICE back to your wallet.
2. In the #-testing channel on Vanilla Discord, share your feedback.
Share the address, where you hold your JUICE!
If you want to avoid doxxing yourself, you can post your address and feedback anonymously by sending DMs to ConfessionBot#6223. The DMs will be anonymized and routed to the #-testing channel.
Tell us about your experience!
Send the bugs, what you liked or disliked about the app, which things worked poorly, what was not clear, and so on. Please be as explicit as possible.
Here is some information that can help us get to your issue as fast as possible:
- include the link to the page where the issue occurred;
- include a screenshot to best explain your issue;
- include browser specifications
That’s it. Happy juicing!
P.S. The testnet will have only 4 tokens available vs. the 24 on the mainnet.
What is Vanilla?
Vanilla is a decentralized asset manager for Web3 - a tool for DAOs, teams, and individuals to diversify treasuries, earn on assets, and protect against adverse shifts in the macro-cycle.
It uses a novel prediction market mechanism that leverages the insights of the best asset managers to actively manage an investment portfolio that is permissionless and on-chain.
We believe Vanilla will become an essential tool in the toolbox of Web3 treasuries and a new source of income for well-performing asset managers.
You can learn more about Vanilla v2 here.
What are Juicers?
Juicers are asset managers of Vanilla. Anyone can become a Juicer.
Juicers take synthetic long and short positions on tokens with JUICE - similar to traders who buy and sell in the market. A position is opened by staking JUICE, and it is closed by unstaking. Like investing in real tokens, profit and loss - measured in USDC - are calculated continuously for all open positions based on the price movement of the underlying token. Upon withdrawal, JUICE is minted/burned according to profit/loss made. For example, a juicer might stake LONG UNI with 100 JUICE. When the price of UNI subsequently increases 50%, the user’s stake is now worth 150 JUICE.
For short positions, return is calculated as an inverse: Let’s assume the juicer has staked SHORT UNI with 100 JUICE. If the price of UNI increases 50%, the juicer’s stake is worth 50 JUICE. If the price increases 100%, the juicer has lost the entire stake. In traditional markets, short positions can theoretically have an unlimited downside if the trader keeps adding collateral. In Juicenet, juicers cannot add collateral, and thus the maximum that a short position can lose is 100% of the initial JUICE stake.
You can learn more about juicing and Vanilla v2 here.