The MetalSwap team is proud to announce the release of the new Recall Pool in its Testnet Phase.
This release aims to test this new pool, which allows XMT tokens scattered across various secondary blockchains like Polygon and BSC to return to the Ethereum mainnet and regain voting power within the DAO.
In this previous article, we discussed the more technical implications of this significant innovation and the use of technologies such as Chainlink Automation and the Cross-Chain Interoperability Protocol (CCIP) feature.
Today, we will detail the features of this Testnet, which will be open to the public and incentivized by the DeFi Foundation!
As anticipated, this will be a Public Testnet, so anyone can use the Smart Contracts and report any bugs or issues.
The Recall Pool Test is released on the Mumbai Testnet and will last until the 2nd of February, or until all the 20 Slots are fulfilled with XMT Test tokens. In that case, we may choose to open another Recall Pool to stress-test our contracts. The aim of this operation will be to try to transfer the XMTs token from Mumbai to the Sepolia Testnets, simulating a real transfer from the Polygon blockchain to the Ethereum mainnet.
To interact with the Smart Contracts, it will be necessary to first have MATIC to pay the network fees. Specifically, this is the link for obtain Matic test token:
Mumbai faucet -> https://mumbaifaucet.com/
Once you have recovered the coins to pay the network fees, you must also obtain XMT test tokens.
https://recall-pool-test.metalswap.finance/#/faucets
The team has decided on a conversion ratio of 0.1 MATIC equivalent to 50k XMT, which can be obtained directly from the dedicated testnet page, once-per-day.
In fact, after clicking the "Get Mumbai Test XMT" button, it will Cooldown for 24 hours.
Now that we have both XMT and the coins to pay the fees, we can start operating.
First, we should move to the Polygon Mumbai testnet, as the goal of this Recall Pool will be to bring XMT tokens from this chain to the ETH Sepolia testnet. Once you open the dedicated page, you will find a section similar to the staking pools already present on MetalSwap, but this one will be renamed as Recall Pool and will have a limited number of slots.
https://recall-pool-test.metalswap.finance
Just like the pools already on the MetalSwap dApp, you just need to interact with this window, clicking "Recall XMTs -> ETH" and deposit the Test XMTs into one of the slots, paying the network fees, which, being a test blockchain, do not entail any real cost for the user.
Once the TXMTs are deposited, the job is done and you just have to wait for the pool to complete.
As mentioned earlier, this will be an incentivized testnet, and thus those who participate in this Test Phase can expect a reward for their valuable work.
We thank in advance all those who will help the team to test this new feature, which is extremely important for the protocol and the future of the XMT token.
Update:
The first MetalSwap Test Recall Pool filled up fast!
We are delighted to introduce a larger Recall Pool Test, now offering 50 slots!
Join the NEW Recall Pool Test now.
-The DeFi Foundation
MetalSwap is a decentralized platform that brings Hedging Contracts on financial markets with the aim of providing coverage to those who work with digital asset and an investment opportunity for those who contribute to increase the shared liquidity of the project. Allowing the protection for an increasing number of operators.
With MetalSwap we enable Hedging Contracts on the DeFi field, AMM style.