FUNDING: EZ Finance successfully raised $210,000 in the private investment round to fund the development of an innovative leveraged farming aggregator on the MOVE Ecosystem.

AIRDROP POSSIBILITY: And they already mentioned in their roadmap that in April they will Airdrop EZM. Although I have a doubt to whom it will be given, it will make a possibility for us if we participate in their testnet now. The full detailed process will be discussed here.

Tasks to be Done in Testnet :

There are certain tasks that we can perform to be eligible for the airdrop . So let’s begin.

(i) APTOS COMPATIBLE WALLET SETUP: We must set up a Wallet which supports Aptos Chain in order to interact with the EZ Finance Dapp and perform transactions. Although we have a option to choose among three ( Martian, Pontem, Petra ) we’ll use Petra for it’s simple UI .

At first, we need to add Petra extension to the browser and then create a new wallet or we can import any previous wallet as well. After that open petra extension and go to settings > Network > Switch to ‘Testnet’ > Done.

Now we should go back to the home page of the wallet and there we can see a ‘Faucet’ button. Click on that and we can claim a sufficient amount of test APT as of our need.

After claim some test APT we are ready to test the EZ Finance Dapp. For now we’ll test the Lending And farming features of EZFI.

(ii) LENDING: To use those services, at first we have to go to the EZ Finance dapp and then connect the Petra wallet ( Testnet ). In the dapp there is also a ‘faucet’ button to claim few another test tokens that can be used to test the platform. So,

Connect wallet > click on ‘Faucet’ > Claim few types of tokens ( need to confirm every tx from Petra wallet ) > Done.

After claiming some test tokens, We’ll go to ‘Lend’ option . Here, we can see various tokens available for lending. We can see in screenshots that the wallet has 100 EZM, 12.891 APT and 0.1 WBTC in it’s available balance. So, we can lend in EZM, APT & WBTC from this wallet. If you claimed any other faucets, you can lend those too.

Lend > check faucets available to lend in wallet > click on ‘Deposit’ > Enter token amount > Click ‘Deposit’ on the pop-up & confirm the tx from the petra wallet > Done.

Although here we’ll lend EZM, it will be better if we lend in various tokens and also withdraw some amount from our lending balances.

(iii) FARMING: The main task to do in every Farming is to provide liquidity in token-pairs in most of the cases. Here also, we’ll provide liquidity in any pairs available and then withdraw some LP . That’s it.

At first, we have to go to the ‘Farm Pools’ tab and select the pair in which we want to provide liquidity. For example, we select CAKE-APT pool. Now, we should provide liquidity in equivalent amount in those two tokens like if we want to add liquidity of $10 worth of CAKE , we have to provide liquidity of $10 APT as well . Nothing more ,nothing less.

But if we enter 10 CAKE - 10 APT then the farming Ai of EZFI will swap those to balance their value.

Go to ‘Farm Pools’ > Select pair > enter token amounts in ‘Supply Assets’ bar > Enable Get Max APR > Click On ‘Confirm’ > Approve tx from wallet > Done .

Like lending, here also the withdraw task is also have to be done for overall testing. For withdraw- Go to ‘Your Position’ > Click on ‘Withdraw’ > Enter some amount & confirm the tx from petra > Done.

(iv) Extra Tasks: As per their Tweets and other posts it will be beneficial if we complete tasks on crew3 and earn XP to grab the uppermost positions in the leaderboard. And grab available roles in their discord as well.

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As of their Roadmap , Public Beta Version is now live . And through this blog we’ll complete those beta tasks.

Their is also a solid reason to believe in this project, the Team behind it. The team is already renowned by their grate work in Bitpanda , the leading fintech company in the European Market.

Tasks to be completed in the beta phase :

In the beta phase, there are certain tasks that need to be completed in order to test the functionality of Pantos. These tasks include:

(i) Metamask Wallet setup: We must set up a Metamask Wallet in order to interact with the blockchain and perform transactions. We can do all the testnet tasks in various chains but for ease , in this blog the testnet tasks will be conducted on Goerli Eth testnet and Polygon Mumbai Testnet.

To add Goerli and Mumbai testnet to Metamask, we’ll use chainlist . You can also add those networks manually by arranging the custom rpc but this will be a longer process. Chainlist will be the best for now and future as well.

👉Go to Chainlist & Connect Metamask to this website. You need to sign 2 or 3 transaction for this .

👉 Don’t forget to tick the box ‘include Testnets’

👉Search for Goerli Eth & click on ‘add to metamask’ . Confirm the TX from Metamask.

👉Add Polygon Mumbai in the same way.

(ii) Requesting Testnet Faucets: Testnet faucets must be requested in order to obtain the necessary tokens to complete transactions in the beta phase.

Goerli ETH | Mumbai MATIC | Pantos PAN

You can receive PAN on any chain of your choice , I mean if you wn=ant to complete the tasks in Mumbai chain then claim those PAN tokens in Mumbai but if you wish to do those tasks in any other chain then claim faucets in corresponding chains.

(iii) Token wrapping and unwrapping using Pantos: Users must perform token wrapping and unwrapping using Pantos, in order to test the functionality of the token transfer system. Follow the steps one by one -

👉Go to Pantos Testnet Page & Connet Metamask ( Polygon Mumbai ).

👉Click on ‘wrap’ . (In this Page , You can see your assets on the right side and in middle of the page you can choose the token you want to wrap.)

👉Choose Matic from the drop-down button & enter the amount you want to wrap. Then click on ‘wrap’ and confirm the Tx from the wallet.

👉Done.

👉Now unwrap some tokens as well.

👉Go to ‘wrap’ page again > select ‘unwrap’ option > Enter Amount > click ‘unwrap’ > Confirm the Tx from wallet > Done.

(iv) Inter-blockchain Token Transfers: The transfer of tokens from one blockchain to another must be tested to ensure the smooth functioning of the multi-blockchain token system. Follow the steps below -

👉Click on ‘TRANSFER’ .

👉Select ‘POLYGON’ (From) & ‘ETHEREUM’ (To). Means, We are going to transfer some PAN tokens from Polygon Mumbai Blockchain to Goerli ETH.

👉Now select the ‘Destination Address’ . You can send those token to any other EVM wallet addresses or to the same by clicking on ‘same as sending’ button.

👉Select ‘High BID’ of 2 PAN fees as it is faster .

👉At last select ‘Assets’ means - choose any token from the dropdown menu that you want to transfer from Polygon Chain to Goerli .

👉Enter Amount and then click on ‘Transfer’ & confirm the TX from the wallet.

👉 Done.

✍ Submit Feedback : Form.

✨Pro Tips :

1. Here we did all the tasks in Polygon and Goerli. But you should also do the tasks in other chains also.

2. Try to use the Beta once or twice a week.

3. Actively follow them on their socials for any important updates.

If you enjoyed this content, I kindly ask for your support in helping me create more informative and engaging blog posts in the future. Please share this post with your colleagues, friends, or on social media. Your support would mean a lot to me and help me reach a wider audience.

If you have any questions or feedback, please feel free to reach out to me. Thank you again for your time and support.

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I hope that this blog series will serve as a valuable resource for anyone looking to learn more about this rapidly evolving industry. As you read through my posts, you will be able to gain insights from my personal journey in this field and I will try to spread the knowledge I have gained through my experience.

As a founder of Cryptolochana, I am continuously learning and trying to keep myself updated with the latest trends and advancements in the world of cryptocurrency.

I would also appreciate your support by following me on my social media handles. You will get all the essential links here.

Thank you for joining me on this journey into the world of cryptocurrency. Let’s get started! We’ll discuss the basics of Cryptocurrency, you can think this as a intro to this trending world.

INTRODUCTION :

• Definition of cryptocurrency

• Brief history of cryptocurrency

• Explanation of the technology behind cryptocurrency (blockchain)

Definition of Cryptocurrency :

Cryptocurrency is a type of digital or virtual currency that uses complex mathematical algorithms, also known as Cryptography, to secure transactions and control the creation of new units. Cryptography makes it difficult for unauthorized parties to access or tamper with the currency, ensuring that transactions are safe and secure. Cryptocurrency is fully decentralized and it operates independently of a Central bank or Government.

Bitcoin is one of the most popular and well-known cryptocurrencies. It was created in 2009 by an individual or group of individuals going by the name of Satoshi Nakamoto. Transactions are recorded on a public ledger called the Blockchain, which ensures transparency and security.

“If you don't believe me or don't get it, I don't have time to try to convince you, sorry.” -SATOSHI NAKAMOTO.**

Another example of a cryptocurrency is Ethereum, which allows for the creation of smart contracts.

In summary, Cryptocurrency is a digital currency that is secure, decentralized and operates without central bank or government. Examples of popular cryptocurrencies are Bitcoin, Ethereum and Matic.

Brief history of cryptocurrency :

The history of cryptocurrency can be traced back to the late 1990s, with the launch of the first decentralized digital currency, DigiCash. However, it wasn’t until the creation of Bitcoin in 2009 that the concept of cryptocurrency truly began to gain mainstream attention.

Bitcoin was created by an individual or group of individuals going by the pseudonym Satoshi Nakamoto. The first Bitcoin transaction took place on January 12, 2009, when Satoshi Nakamoto sent 10 Bitcoins to Hal Finney, a programmer and early Bitcoin adopter.

In 2010, the first known commercial transaction using Bitcoin took place when a programmer named Laszlo Hanyecz paid 10,000 Bitcoins (which was worth around $41 at the time) to purchase two pizzas.

In 2011, the value of Bitcoin began to rise as more people became aware of its existence. This led to the launch of several new cryptocurrencies, including Namecoin and Litecoin.

In 2013, the first cryptocurrency exchange, Mt. Gox, was hacked and 850,000 Bitcoins were stolen. This caused the value of Bitcoin to drop significantly.

In 2015, Ethereum was launched. Ethereum is a blockchain-based platform that allows for the creation of smart contracts, making it a popular choice for decentralized applications (dApps).

In 2017, the value of Bitcoin and other cryptocurrencies reached an all-time high, with Bitcoin alone reaching a value of nearly $20,000. This led to a significant increase in mainstream interest in cryptocurrency and the launch of many new cryptocurrencies.

In 2018, the value of many cryptocurrencies dropped significantly, but the industry continued to evolve with the launch of new projects and the development of new technologies.

In 2019, the cryptocurrency industry continued to evolve with the launch of new projects, the development of new technologies and the increasing acceptance of cryptocurrency by mainstream companies and institutions.

In 2020, the value of Bitcoin and other cryptocurrencies reached an all-time high again, as a result of the global COVID-19 pandemic, which has caused many investors to seek out alternative forms of investment.

In 2021, regulatory changes, institutional investments and the increasing mainstream acceptance of cryptocurrency has led to the crypto market to reach new heights, with many predicting that it will continue to grow in the future.

In 2022, mainstream acceptance and adoption of cryptocurrency continued to grow. Central banks and governments around the world announced plans to launch central bank digital currencies (CBDCs). Major companies started to accept cryptocurrency as a form of payment. Institutional investments in the crypto market increased. Ethereum made a major change in its ecosystem by merging Ethereum 2.0 & Ethereum 1.0.

It’s important to note that the history of cryptocurrency is ongoing and continues to evolve as new technologies and projects are developed, and as more people become aware of the potential of this revolutionary technology.

Explanation of the technology behind cryptocurrency (Blockchain) :

The technology behind cryptocurrency is the blockchain, which is a decentralized, digital ledger that records transactions across a network of computers. Each block in the chain contains a number of transactions, and once a block is added to the chain, it cannot be altered. This creates a permanent and unchangeable record of all transactions, which ensures the integrity and security of the data.

Blockchains are composed of blocks, which are groups of transactions. Each block contains a unique code called a “hash,” which links it to the previous block in the chain. This creates a chain of blocks, or a “blockchain.” The blockchain is maintained by a network of computers, called nodes, that work together to verify and process transactions.

The nodes in a blockchain network are incentivized to participate in the network by receiving a reward, usually in the form of cryptocurrency. This reward is called a “block reward,” and it is awarded to the node that successfully adds the next block to the chain. This process is called “mining,” and it is the process by which new blocks are added to the blockchain.

One of the key features of blockchain technology is its decentralization. Unlike traditional ledgers, which are controlled by a central authority, blockchains are maintained by a network of computers. This means that there is no single point of failure, and transactions can be processed and verified independently of any central authority.

Another important feature of blockchain technology is its transparency. All transactions on the blockchain are recorded in a public ledger, which means that anyone can see them. This creates a level of transparency that is not possible with traditional ledgers.

There are different types of blockchains, such as public and private blockchains. A public blockchain, like Bitcoin, is open to anyone and allows for the creation of new blocks by any node that meets the network’s consensus rules. A private blockchain, like the ones used by some companies, is permissioned and only allows certain nodes to validate transactions and create new blocks.

In summary, the technology behind cryptocurrency is the blockchain, a decentralized, digital ledger that records and verifies transactions across a network of computers. It ensures the integrity and security of the data by creating a permanent and unchangeable record of all transactions. The blockchain operates independently of any central authority and creates transparency in the system by recording all transactions in a public ledger.

We hope that you have enjoyed this introduction to the world of cryptocurrency and have a better understanding of what it is and how it works. In this blog, we have covered the basics of cryptocurrency and the technology behind it, the blockchain.

Besides learning, if you want to earn from crypto airdrops, you must subscribe Cryptolochana YT for monthly earning free of cost.

In the next blog of this series, we will delve deeper into the different types of cryptocurrency, including Bitcoin, Ethereum, and other altcoins, and the unique features and uses of each. We will also discuss the different ways to acquire and store these digital assets, as well as their potential future developments.

We encourage you to stay tuned and follow us on our social media handles for the next installment of this series. This is just the beginning of our journey into the world of cryptocurrency, and there is still so much more to explore and discover. Don’t miss out on the next part of this exciting and informative blog series. Thanks for reading!

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