What is Nibiru?
Nibiru is a standalone blockchain powered by Proof-of-Stake (PoS) consensus. It operates as an open-source platform and is part of the larger Cosmos ecosystem, which consists of interconnected blockchains. Nibiru offers a wide range of services, including swaps, staking, farming, perpetual contracts, and it has its own stablecoin and oracle solutions
Nibiru has successfully secured $8.5 million in investments through a Seed round, with notable contributions from NGC Ventures, Tribe Capital, Republic Capital, Cosmostation, and other investors. The project has garnered significant attention on Twitter, attracting influencers and developers from the Cosmos ecosystem who are following its progress closely.
Nibiru introduced its testnet in late February, and it has been rolled out in multiple phases. The earlier phases were launched in late February and early April respectively, followed by the introduction of the third phase a few weeks ago.
Set Up Your Wallet
To get started, the first step is to download the Keplr wallet. Visit the download page https://www.keplr.app/download
Select your OS and download the wallet software.Set up your wallet and securely save the seed phrase.
To access the Nibiru app, follow these steps:
Visit the website http://app.nibiru.fi and connect your wallet at the top-right.
Confirm in your wallet to add the Nibiru ITN-1 network.
Next, register at https://gleam.io/yW6Ho/nibiru-incentivized-testnet-registration to be eligible for rewards. THIS IS VERY IMPORTANT.
Get Testnet Tokens
Visit the Faucet and acquire test tokens. This is needed for the tasks.
Please be aware that the faucet on the Nibiru Chain website may occasionally experience reliability issues. However, the Nibiru Discord community offers a reliable alternative faucet that you can utilize.
Get your Nibiru address by clicking “Copy Address in your Keplr Wallet”. Search “nibi” and the address is shown. Click on copy and it displays a green “copied”! This address starts with nibi. If you cannot find it, go to your settings, enter general settings and look for Manage chain Visibility. Enable Nibiru and you should see the address then.
Join the discord (https://discord.com/invite/nibirufi) and head to the # 💦 ' faucet channel (https://discord.com/channels/947911971515293759/984840062871175219).
Use the command “$request nibi…”, you will receive 11 NIBI, 100 NUSD, and 100 USDT.
Trade on Nibi-Perps
Open a perpetual position on ETH
Go to the "Nibi-Perps" tab and select the "ETH:USD pair". Select the position type (long or short), input a margin and set leverage (the “Size” field is dependent on the margin and leverage). Click “Open Position” and confirm in the wallet. A notification is displayed following a successful order.
Open A perpetual position on BTC
Repeat the same steps for the "BTC:USD" pair.
Make a funding payment (takes up to 30 mins)
The funding countdown is shown above the chart, simply wait until the timer runs down and restarts at least once (in the event that the timer pauses at 00:00, simply refresh the page). There is a 30-minute interval between funding payments.
Close a position.
Scroll to the bottom of the page to see the open positions. Click on “Close” to close a position and confirm the transaction in your wallet. A notification pops up if it is closed successfully.
Trade and Add Liquidity on Nibi-Swap
Swap against constant product pool.
Click on the “Nibi-Swap” tab, select "Swap"and swap NIBI for NUSD and vice versa.
Swap against stableswap pool
Here, swap NUSD for USDT and vice versa.
LP into a constant product pool.
Click on “Nibi-Swap” again and select “Pools”. Alternatively, click on the “Pools” button. Just like the swaps, the constant product pool contains NIBI and NUSD, click on that pair.
Click on “Deposit”
On the pop-up, input the amount of NIBI and NUSD you wish to add as liquidity then click “Add Liquidity” and confirm in your wallet.
LP into a stableswap pool
Repeat the same procedure with the NUSD/USDT pair.
Stake NIBI
Go to the "Stake" tab and select any validator to delegate to.
Click on "Stake".
Input an amount to stake and click "Stake" then confirm the transaction in your wallet.
The stake shows up under "My Validators"
That’s all for the Nibiru Incentivized Testnet 3!
Nibiru Chain reserves 60% of its tokens for the community, indicating a strong commitment to inclusivity and decentralization. With an upcoming round of funding on the horizon, there is potential for a rewarding experience for participants in the testnet. Stay tuned for more exciting developments from Nibiru Chain and ensure to register at https://gleam.io/yW6Ho/nibiru-incentivized-testnet-registration to be eligible for rewards!
If you wish to explore and participate in the Ambassador program with Nibiru, visit http://nibiru.fi/blog/posts/006-ambassador.html for more details.
Also follow us on Twitter, and stay updated through our Telegram channel and group . Happy testing!