KYVE is the decentralized datalake to store and stream data with built in validation by leveraging the Arweave blockchain. Anyone can store data immutably and permanently without the help of centralized data storing giants. Dozens of projects already using the KYVE network i.e. Near Protocol, Cosmos, and Solana etc. The main mission of KYVE is to make data trustless. By trustless, It means user can access and store data with a unique decentralized user verified solution without depending on centralized entities. While Arweave made data storing as easy as possible, it does not validate those data. Here comes KYVE, it leverages the Arweave and provide reliable data validity.
The KYVE Network will go through numerous testing and iteration cycles over the months to ensure that the network can offer the greatest possible user experience tothe community. The goal is to detect and solve bugs, malfunctions, and other vulnerabilities in the network before KYVE goes live on mainnet. Therefore, they are running an incentivized testnet to the public to test and send feedback to them.
So, how does the process works? Let’s deep dive.
.First visit keplr website and download and install the latest version of Keplr wallet browser extension.
Now create a wallet or import wallet if you already have one. Remember to save your mnemonic phrases privately and do not share with others.
Now visit KYVE app and connect your Keplr wallet with KYVE app.
Now we need some test $KYVE tokens in order to test the network. For that, go to Faucet section. You will find three options to get test $KYVE tokens.
You need a twitter account to claim 300 $KYVE. Login your twitter account. Now click “Share on twitter” and post the tweet and copy the tweet link. Now come back to the faucet page and paste the link in blank field and click “claim your tokens” and confirm the transaction.
Now wait for some moment, your test $KYVE tokens will arrive your wallet after some time. You will earn 150 points for completing this tasks. This is a one time task.
In order to collect the next 20 $KYE tokens, you will need to join their discord channel. Login to your discord account, create one if you don’t have any discord account. Now click “Join Our Discord” and join the channel.
Now copy the text from KYVE faucet page. Go to discord faucet channel and paste it there. You don’t have to do anything else. Wait some time for the blockchain confirmation. You will get 20 $KYVE tokens with due time. You can do this task every 24 hours and earn 20 points every time when you complete this task.
Just spin the wheel and you will earn 1–10 test $KYVE token every 24 hours. You will also get equal points for doing this task. For example, if you get 1 $KYVE, you will also get 1 point, if you get 50 $KYVE then you will also earn 5 equal points.
Remember to do the second and third task every 24hours.
In order to delegate your $KYVE tokens, you need to visit the pool section from KYVE website. Now you will see different pools there i.e. Moonbeam, Bitcoin, Cosmos etc. Choose your favorite pool. For the test purpose I’m choosing Bitcoin Pool. When you click on the pool, you will see the overview of the pool. Now click on the delegation tab and select any validator available.
Look, how much commission the validator charges. 1–5% commission is perfect. 90% commission means, you will get 10% of delegation rewards. Now click “Become a delegator” and choose the amount you want to delegate.
For each successful delegation you will earn 1 points and max 150 pints in total.
Now that you’ve successfully delegated your $KYVE to your favorite pool, it’s time to participate in governance. Now go to “Governance” tab, you will see active and ended proposals here. Choose any active proposal and vote according to your choice. For every successful vote, you will get 10 points.
You can also submit any proposal for the network by clicking on “Submit Proposal”. Don’t spam the proposals by creating fake proposals.
You can also earn points by funding any existing pools. For that, visit any pools of your choice and go to “Funders” tab. Now look for available funding slots, 0 means you can not fund the pool.
You can fund any pool if there’s any slot available. For testing purpose I choose Bitcoin pool which have 49 funding slots available at the time of writing. It can vary depending when you’re joining the testnet. Now click on “Become a funder” and choose the amount you want to fund the pool. Now click Fund pool and confirm the transaction.
For every funding round you complete, you will earn points. You can earn max 50 points from funding pools.
A validator is a crucial part of the POS (Proof-of-Stake) consensus mechanism whose responsibility is to verify blocks to earn rewards. In the POS mechanism, a validator determines whether or not a transaction conforms to the rules that deem it as valid. The entire process makes a blockchain network secure and transparent. In order to become a validator, visit the pool tab again and choose a pool. Go to validator tab and check if there any validator slot available, check the minimum $KYVE needed to join the active validator set. For becoming a validator for each pool, you will get 50 points. Follow the below tutorial for becoming a validator.
In order to join the validator set, you need to stake a minimum amount of $KYVE tokens. Follow the validator tutorial to become a validator. After that visit you pool and go to validator tab. Now stake the minimum amount of $KYVE required. You will earn 130 points max for participating in pool staking.
You can also earn points for completing community tasks. When you claimed you first 300 $KYVE tokens by posting a tweet (See first task in this thread) you earn 150 points. It also attach your twitter handle with your wallet. Now you can earn points by following KYVE in twitter, Liking and Retweeting KYVE’s tweet also. For follow, you will get 100 points. For each liking of their tweet, you will get 40 points. For each retweet, you will also earn 40 points. It can take upto 3 days to show your points. So keep liking and retweeting.
You can also earn points by creating some funny memes about KYVE network, creating video introduction or video tutorial and by creating explanatory content. You can submit max of 2 video tutorial and max 2 video introduction and for each accepted video tutorial or introduction, you will earn 1500 points. Or you can submit explanatory content and for each accepted content (max 2) you will earn 500 points. You can also submit max of 5 funny memes and for each accepted memes, you will earn 150 points.
So how to do that? Visit Korellia Profile section and go to content tab. You will see available task and your submitted content here. Now create a content. For testing purpose and as a meme geek, I made a meme about KYVE network. Now it’s time to post it on twitter with my keplr address. You can find your keplr address from upper right corner. Copy address from there. Your address will starts with “kyve1…………”
Here is an example of tweet of how you should post the meme on twitter or other social media.
Copy the link of your tweet or post. Now visit Content page from Korellia Profile. Click on “Submit KYVE meme” and choose the language. For me, its English. Now paste the link in URL tab and confirm the transaction. Upon successfully accepted meme, you will get 150 points each (5 in total). You can see your submitted content below.
To see how much points you earned or your position on the leaderboard, visit Korellia Profile tab. You can see your earned points there or your position on the leaderboard.
Thank you for reading this article.
Follow KYVE in twitter: KYVE (@KYVENetwork) / Twitter
Join KYVE Discord: https://discord.gg/CGB3NGf3sf
Connect KYVE Telegram: https://t.me/kyvenet