Synthetic Asset Project Jungle Protocol Testing Guide

Derivatives projects are an extremely important track for the future and are likely to rise during this bull market. Derivatives projects like GMX have already begun to emerge as representatives of this category.

Project Introduction

Jungle is a global debt pool model derivative protocol based on Arbitrum and zkSync. It provides a highly liquid derivatives trading market where anyone can easily create various synthetic assets and profit from them, including cryptocurrencies, stocks, precious metals, and foreign exchange. Users can also earn profits through the DAO.

Users participating in the project testing can receive gatcha token rewards to mint blind boxes. The blind boxes may contain NFTs, which will be eligible for airdrops of the project token $JUNT in the future.

Test Qualification Acquisition

To participate in the Alpha test, you need to obtain testing qualifications:

1. Join the Discord community and apply for the OG role
2. Pay attention to and retweet the specified tweet
3. Invite 2 friends to join Discord
4. Fill out the application form
5. Submit proof screenshots in the corresponding channel on Discord.
6. After obtaining the OG role, submit your wallet address in the designated channel.

Testing Process

1. Add Arbitrum Goerli test network
2. Claim test tokens and cross-chain to Arbitrum Goerli testnet
3. Log in to the test website and connect the wallet.

test steps

1. Claim test token USDC
   • Click "Claim" on the Dashboard page, each user can claim up to 10,000 test USDC.

2. Staking USDC
   • Click the "stake" button and enter the amount of USDC as collateral.
   • You can borrow 1 JUSD (the stablecoin issued by the project) for every 1 USDC staked.

3. Trade synthetic assets
   • Transfer JUSD to the specified debt pool on the "market" page
   • Use JUSD to purchase synthetic assets on the market
   • The price of the synthetic asset is determined by Chainlink oracles, and trading will not affect the price.

4. Notes
   • When the price of synthetic assets in the debt pool fluctuates, the total debt and individual debt will change accordingly.
   • A forced liquidation will be triggered when the unrealized profit and loss percentage is below 95%.
   • When the market is generally down, buying assets that have fallen less can be profitable.
   • When the market is generally rising, buying assets with significant increases can be profitable.

Reward Mechanism

• Participate in daily tests to earn Gacha token airdrops
• Gacha tokens can be used to claim Jungle Squad NFT blind boxes.
• An upcoming "Simulated Trading Competition" will be held, detailed rules to be announced.

Gacha token acquisition method

1. During the Alpha testing phase, completing 5 transactions daily will earn you 1 token.
2. For every 10 people invited to join the Discord community, you can receive 1 token.
3. Every week, a portion of users who create relevant content will be selected to receive 10 tokens.

When participating in tests, it is recommended to use an insignificant small wallet. In the future, the project will create more debt pools, including assets such as cryptocurrencies, stocks, foreign exchange, and precious metals, allowing users to choose the desired risk and return levels through a multi-debt pool system.