# CREDIT Incentivized Testnet: Seasons By [Volatilis](https://paragraph.com/@volatilis) · 2023-10-19 --- We're here to introduce an important aspect of our beta testing phase - the Seasons and Points system.The beta testnet will be gated, by whitelist invites for users to test the platform. ### Join the Beta! Thank you for signing up and showing interest in The CREDIT Protocol Beta Testnet. We appreciate your enthusiasm and support. If you have not signed up for the beta, you can sign up here! The beta testnet will be gated, by whitelist invites for users to test the platform. [https://forms.clickup.com/14283197/f/dkwdx-573/031SHZFLY0UVZJ5UZT](https://forms.clickup.com/14283197/f/dkwdx-573/031SHZFLY0UVZJ5UZT) What are Seasons? ----------------- Seasons are structured phases that will guide your participation. Each season will onboard a new cohort of users. The aim is to make your interaction with The CREDIT Protocol as informative and rewarding as possible. So you might want to try and get as many points possible… In each Season, you will have the opportunity to explore different features of the protocol. This structured approach helps organize the testing process, allowing us to gather focused feedback on various aspects of the system. ### What are Points? The points you earn through participation will be instrumental for various purposes, which will be detailed further in upcoming communications. Simply put, earning more points will mean more opportunities and rewards in The CREDIT Protocol & Meliora ecosystem. ### User Feedback We want to emphasize that your feedback and participation are crucial for the improvement and optimization of the CREDIT Protocol. Through the 'Seasons' and points system, we hope to encourage active participation and make the beta testing process more engaging and productive. Thank you for being part of this important phase of the CREDIT Protocol. We look forward to your valuable contributions and feedback. **Using the Protocol** ---------------------- ### **Core Features** **Lending:** Selecting a lending pair, choosing pool and loan term (expiry date), amount and take a lending position. **Tutorial Video Here:** [https://www.loom.com/share/35ed2f9cf70b4c7bb6672799a6f9d4fc](https://www.loom.com/share/35ed2f9cf70b4c7bb6672799a6f9d4fc) **Borrowing:** Selecting a lending pair, choosing pool and loan term (expiry date), amount and take a borrow position. **Tutorial Video Here:** [https://www.loom.com/share/d0c8a7234ad5432eb84ee626c05a251c](https://www.loom.com/share/d0c8a7234ad5432eb84ee626c05a251c) **Liquidity Provision:** Selecting a lending pair, choosing pool and loan term (expiry date), amount and deposit both assets and collateral. **Tutorial Video Here:** [https://www.loom.com/share/5c9df0e96e1949349b288671fcbcaaef](https://www.loom.com/share/5c9df0e96e1949349b288671fcbcaaef) **Loan Repayment:** Repay a loan before expiry of pool. You will forfeit your collateral used to take out the loan if it is not repaid. **Tutorial Video Here:** [https://www.loom.com/share/4e8f0e7a9bd948d1a3aac0086f771893](https://www.loom.com/share/4e8f0e7a9bd948d1a3aac0086f771893) **Settlement:** Settle your positions at pool expiry. Claim, or withdraw. **Tutorial Video Here:** [https://www.loom.com/share/1a7041f4947f4eeb930dadf577e52847](https://www.loom.com/share/1a7041f4947f4eeb930dadf577e52847) User behavior ------------- Below is a list of potential user behaviors to think about when interacting with The CREDIT Protocol. * Taking out a loan * Repaying a loan * Partially repaying a loan * Providing liquidity * Withdrawing liquidity * Lend to multiple pools * LPing in multiple pools You should also beware of leaving the pool with debt (not repaying your loan), or imbalancing the pool. We intend to analyze such user actions and the effects of it. Bugs and Feedback ----------------- Bug testing will be a crucial component. Participants are encouraged to actively engage with the platform, identifying any irregularities or issues that might hinder functionality or user experience. Your role in identifying and reporting bugs is invaluable, as it will aid in the refinement and optimization of the protocol, ensuring that it operates seamlessly upon full launch. We seek detailed feedback, which can be instrumental in diagnosing and rectifying problems efficiently. More details on bugs will be released in future communications. ### Telegram Group Each seasonal cohort will have it’s own deciated telegram group chat with the Volatilis team. We will invite people to the testnet beta TG group after communicating details of the seasonal cohorts. ### Key Definitions: **Asset -** Asset available for borrowing **Collateral -** Collateral locked to borrow an asset **APR -** Annual Percentage Rate **Interest Rate -** Interest rate for borrowers relative to the position term **CDP -** Collateralized Debt Position **Borrow Limit -** Limit on borrow position **Loan Term -** Length of the fixed-term borrowing/lending pool **Utilization Rate -** % of supplied assets borrowed **Pool Reserves -** Value of Asset and Collateral in the pool **Redeemable Amount -** Projected amount of assets expected at pool expiry for your position **Insurance Coverage -** When lending, the amount of coverage you are receiving for your loan (as a lender). Should defaults occur the collateral in the pool will be used as coverage **Debt Ratio -** The ratio of total debt to total assets **Borrowed Amount -** Total assets borrowed **Collateral Balance -** Available Collateral for Lenders **Borrower Debt -** Debt accumulated by borrowers **Pool Pair -** A pool pair contains both assets (to be borrowed), and collateral. There can be multiple pools with differing expiries for the same pool pair. --- *Originally published on [Volatilis](https://paragraph.com/@volatilis/credit-incentivized-testnet-seasons)*