Monad Testnet Part 3 - New Dapps!! Let's do everything!! #monad #crypto #airdrop
Jimbo's Crypto Land
3 months ago
The summaries and transcripts on this page are generated with AI technology and may not perfectly represent the content of the video. Please use the information as a guide only.
Executive Summary
Here's a summary of the video about the Monad testnet and exploring its new dApps:
This video dives into the Monad testnet, which aims to be a super fast, cheap, and excellent blockchain. It's the third part of a series exploring the Monad testnet, focusing on interacting with various new decentralized applications (dApps) like exchanges, lending protocols, NFT platforms, and more. The goal is to perform different actions on these dApps, which could potentially qualify you for a future Monad airdrop, but it's stressed that Monad is just one opportunity among many.
Here are the key topics and technical details discussed:
Getting Monad Testnet Tokens:
- Faucets (like the ones mentioned in earlier videos) are often frustratingly not working.
- Using services like gas.zip is an easy way to get testnet tokens, even though you use real money.
- A new method involves using the Testnet Bridge, potentially powered by LayerZero, which means interacting with it could also count for a possible LayerZero airdrop.
- You can bridge real Ethereum from mainnet, Optimism, or Arbitrum to Sepolia testnet Ethereum using this bridge.
- Other ways to get Sepolia Ethereum include Alchemy (requesting every 72 hours) and the Sepolia proof-of-work faucet (mining it).
- Once you have Sepolia Ethereum, you can bridge it to wrapped Ethereum on Monad using Orbiter Finance's testnet website.
- Finally, you can swap the wrapped Ethereum on a Monad DEX (found in earlier videos) for Monad testnet tokens.
Dirol Dex (Step 2):
- This is a decentralized exchange (DEX) on Monad.
- Currently, only swapping is available; trading and staking are coming soon.
- You can swap between Monad, USDT, and other listed tokens.
- The advice is to do multiple swaps but not all at once to avoid looking like a bot.
- Sometimes, testnet platforms like this don't work, so you might need to come back later.
Ammalgam Dex (Step 3):
- Another DEX platform with Trade (Swap) and Pools sections.
- You can swap between available assets. Long and short positions are planned for the future.
- You can add liquidity to pools, like the wrapped Monad and USDT pool.
- Adding liquidity often involves choosing a pool and using a tool like D-Leg (which appears to be part of the platform for managing liquidity positions).
- You can choose strategies like market making or leverage market making.
- Adding a position involves approving the relevant tokens (like wrapped Monad and wrapped Ethereum) and confirming the transaction. Sometimes transactions fail, and you just need to keep trying.
DeMask NFT Platform (Step 4):
- This is an NFT platform on Monad.
- You can explore NFTs on the platform and potentially buy them, though the pools seemed "weird."
- You can also create your own NFT collection or a single NFT by filling out details, adding an image, name, category, and description.
- A section called Landspand was mentioned for minting NFTs, but the opportunity was already over in the video. More NFTs might be available there in the future.
Summer Money (Step 5):
- This is the first borrow/lending protocol shown.
- It works like typical platforms: you deposit assets and can borrow others against them as collateral.
- Examples shown include depositing Monad and USDC. You can enable deposited assets as collateral to borrow other tokens like USDC.
- There's also a "Summer Money Multiplier" feature where you can mint liquid staking derivative tokens (like SUEthereum).
- Minting these tokens creates a liability that you can repay.
- Summer Money also has its own point system and airdrop campaign. You can register by connecting your X (Twitter), wallet, Discord, and Telegram accounts to track your points dashboard. Points are earned by depositing and providing liquidity.
Castora Predictions Market (Step 6):
- This platform lets you predict the future price of assets in pools.
- You can join pools for assets like Solana or Ethereum and bet whether the price will go up or down.
- During the video, the platform was experiencing errors and not working, which is a common testnet experience.
- Previous activity on the platform was visible, showing past predictions made.
Nitro Finance (Step 7):
- Another decentralized exchange (DEX).
- Before swapping, you can get "needs" tokens from a faucet within the platform's Pool section ("get needs").
- You can swap between Monad, USDC, wrapped Monad, some meme coins, and the "need" token.
- You can add liquidity to pairs, including a new pool for "nit" (the needs token) and USDC.
- Adding liquidity involves choosing a strategy (like two-sided), entering amounts, and approving the transaction.
- Liquidity positions are visible, and sometimes need rebalancing if they go out of range.
- There's also a game called "Break Monad" mentioned in the Pool section, which seems like a fun extra activity.
Zona (Step 8):
- This is a real estate market platform.
- You can bet on whether the price of real estate in different markets (Hong Kong, Singapore, Dubai, London) will go up or down.
- However, during the video, Season 1 was over, and Season 2 was expected later that week. So, the opportunity might be live by the time someone watches the video.
Clober Dex (Step 9):
- This DEX has a trading feature for swapping tokens like Monad and USDC.
- A cool feature here is the ability to set limit orders, allowing you to buy or sell at a specific target price rather than the current market price.
- It also has a Vaults tab where you can add liquidity to pools, similar to other DEXs.
- A unique feature is the ability to trade and mint stocks on the Futures tab using collateral like USDC. This was not possible during the video because the traditional stock market was closed, but it's seen as a "great idea" with potential interest for investors on the mainnet.
MonadFlash (Step 10):
- This platform allows you to create and trade meme coins.
- On the trading feature, you can buy existing meme coins using Monad tokens.
- On the Create tab, you can design your own meme coin by giving it a name, ticker, image, description, and choosing how many tokens to buy yourself during creation. This is seen as a fun, "go big" activity.
The video concludes by mentioning that Part 3 is finished and Part 4 is already in the works, possibly with a Part 5 to follow, emphasizing the ongoing nature of exploring the Monad testnet. The steps and relevant links are provided via a link mentioned in the video.
Transcript
Transcript
There's a crypto project that aims to be the fastest, the cheapest and the best blockchain out there. Its name is Monad. You know exactly what I'm talking about. This is my first video where I explain everything about Monad. This is the second video where the testnet began and this is my third video, the part 2 of the testnet. Guess what? Today we have part number 3 of the testnet. And guess what? Again, I'm already building the part number 4 for Monad. Like always, all the information for today's video can be found on the first link of the description and this redirects you on my website. Guys, remember that Monad is just one airdrop. Yes, it is very hyped. Yes, it has a great potential, but it remains only one airdrop. So don't get all your hopes on Monad. Come on my website here. Look at this. Numerous airdrops. Start doing them. It's a number game. If you get into a lot of them, you will be rewarded. Period. It's a number game. Now, if you want to take your airdrop hunting to the next level, come and join our team. This video is only for entertainment. I'm not a financial advisor. I'm just a guy on the internet. Let's start on step number 1 with more ways on how we can get Monad testnet tokens. On my first video, we saw all the faucets, but this is very frustrating. They're not working. On my second video, to me, this is the best way to get Monad tokens through gas.zip. Yes, you pay with real money, but this is very easy. Now, let's explore new ways. There's something called testnet bridge, which is also powered by layer 0. So by interacting here, you already doing transactions for the second airdrop of layer 0. The OGs of the channel remember this. We use this a lot on linear testnet. You can bridge real Ethereum from the mainnet, from optimist and arbitrum to testnet Ethereum Sepolia by this testnet bridge. Other ways to get Ethereum on Sepolia is the alchemy. You can register here and request every 72 hours. And our favorite faucet, the Sepolia proof of world. Drop here your EVM address, start mining Ethereum Sepolia. And once you get a lot of Sepolia, right now I have 20 or fee, you can bridge the Ethereum from Sepolia to wrapped Ethereum on Monad through Orbiter Finance testnet website. And once you got your wrapped Ethereum on Monad, you can go to one of the Dexes. You can find a lot of Dexes here on my first and on my second video and swap them to Monad. Step number two, D-Roll Dex. Here we are trading and staking are coming soon. For now, only swapping. So select Monad or any other token here, USDT and start swapping right over here. Do as many as you can, guys. But please don't look like bots. Don't do a hundred swaps back to back. Do a couple of swaps next day again. This is testnet. Also, this is not working as you can see right now. Welcome to the airdrop testnet world. So come back tomorrow, next week, whatever. Let's explore the Amalgam Dex for step number three. Here we are on the Trade tab and on the Swap tab. Here, of course, you can swap between those assets like all the other Dexes. Long and short positions are coming soon. Let's go to the pools. As you can see, I've already added liquidity on RAP, Monad and USDT. So you can choose your pool here like me, for example, this one and add some liquidity by using D-Leg. This is the D-Leg where we can do it. You can start here by market making, leverage market making. Doesn't really matter. Choose the first one, a portion of your assets, delta gamma and create your position. Just approve the RAP, Monad, the RAP, Ethereum and now I'm confirming my position. Transaction successful. Guys, sometimes the transaction fails. Keep going, keep clicking. Let's explore now the D-Mask NFT platform for step number four. On the Explorer tab, scroll down, choose any of these and you can buy. For example, if you click this NFT, let's buy it right now. All right. These are some really weird pools. I don't really get them. Anyway, doesn't really matter. Let's go to create our collection or create an NFT. Let's choose collection for now and fill all these fields. Drag or drop an image here. Give it a name. Choose any of this category, a simple description and create it. You can do exactly the same on the NFT. Let's go on landspand right now and mint these NFTs. Where are the NFTs? Oh no, it's already over. Don't worry. These were the NFT. Maybe we can have more here in the future. Step number five, our first borrow lending protocol for today. It's called summer money. Typical borrow lending protocol. You deposit something, you take a loan. I just deposited Monad and USDC. As you can see, you can do it by scrolling down here on the lending market. Deposit some Monad. Deposit any of these tokens that you have. For example, USDT right now, I'm going to deposit one. And now on my deposit, USDT also appears. If I enable this as a collateral, right now as you can see, it's already enabled. I can borrow some amounts of other tokens. For example, USDC. You can borrow one. For example, here we go. Also, there's the summer money multiplier. Here you can mint these three liquid tech derivative tokens. Let's now mint this SUEthereum. I'm choosing like 0.001 and I'm minting the SUEthereum. And like on deposits right now, on my liabilities, I can see the new SOU Ethereum. And here I can repay my loan. There is also their point system. They're having their own airdrop. If you click it, you can come here and register for their campaign. Just connect your X account, your wallet, your discord and your telegram and click on register. And once you register here, you can see all the dashboard of your points. So you need to deposit and liquidity providing like we already did here. Castora predictions market for step number six. Here on pools and on experimentals is the same thing. You can predict the price of an asset. Let's go for Solana right now. I'm joining the pool. An error occurred. Obviously, welcome to the testnet world. Let's see the hype. Not same thing. Let's go for Ethereum. I don't know. Right now, Castora is not working here. My activity, as you can see, I've already did one on the show. When this starts working again here on the open tab, you will choose the token that you want and you will bet that if this goes up or down. One more decentralized exchange for step number seven. It's called Nitro Finance. Before we start swapping here, let's go to pool and click on the get needs. So you can get the need faucet here on trade. Now you can swap between these assets. Monad, USDC, RAT, Monad. These are some meme coins and there is need. So start swapping between those assets. Then you can go to pool and enter liquidity here to any pair that you like. On liquidity position, you can see your position. I did this. Right now, it's out of range, as you can see. So I need to rebalance. But for now, I'm going to enter a new liquidity. I'm searching for nit. This is the new pool. Nit with USDC. So two-sided, choose your strategy here. Enter the amount. This was a big amount of 5 and 2.78 USDC. I'm proving to enter your liquidity. On pool, stop there's also something called break. Monad, I'm opening it. Oh my god, Tom Cruise is coming. Oh, Mission Impossible is on. Let's connect right over here to see. Obviously, it's a game. So if you have the time, play this game. Step number 8, we can find Zona. This is a real estate market. We can bet if the price of a real estate goes up or down. Here on the markets, we can see Hong Kong, Singapore, Dubai and London. Unfortunately, right now, season 1 is over. But tune in for season 2 later this week. So maybe by the time you're watching this video, this could be on. So come here on markets and bet on any real estate market. Globber decks for step number 9. Here we are on the trading feature. And as you can see, you can swap between these tokens. Let's swap between Monad and USDC right now. And you can also set limit orders. For now, it's 15.98. So let's set this for 16 and buy 0.2 Monad on this price. I'm setting my limit order and I'm placing this order. On the vaults tab, you can also enter some liquidity. I've already done it with USDC and Monad. You can add liquidity here. So choose your amount and enter liquidity like we did on all the other DEXs. And on the future stuff, you can trade and mint even stocks. This is great. You use your collateral like USDC to borrow some assets. Let's do this for Apple to see if this works. Right now, I'm choosing 2 and I'm clicking here. 0.00 an hour. So I'll try to borrow our price fee for low traditional market hours. So all right, because the stock market right now, it's closed. You cannot do it. But when stock market opens, you should try this. I think this is a great idea. And when this comes on Maynet, this will be a very interesting perspective. I think a lot of investors will like something like this. Let's finish right now with step number 10, the Monad Flush. Here we can create and trade meme coins. Let's go here first on trading feature. Let's go scroll down, choose a meme coin. I don't do meme coins, but let's check this for example. So here put the amount of Monad tokens and you buy this using your Monad. And now on the create tab, you give your name, your coin, you give it a sticker, an image, a description, and create your meme coin. You have to choose how many tokens you want to buy. For example, one. And I said, go big. So here we go. And that was it. So Monad part three is over. I'm already building part four, as I already told you. And maybe we could have part number five. I always try to bring you the best alpha. So please hit that like button. A lot of help for me if you really do this. And if you found this information useful and I really liked the comment, come to my website here. You can find a lot of airdroves. That was it for today. See you on the next one.