Perps Alpha v2 is Live for White List Testing

The Spin team is delighted to announce that we have successfully deployed Perpetuals Alpha v2 to testnet. This version includes extended features for traders: order book, limit orders, updated GUI, and multiple markets (contracts for BTC, ETH, and SOL). At the same time, our development team continues working on upgraded mark price, liquidation engine, and funding rates that are to become a part of the v2.1 release.

We have carefully sorted all 17,000 applications for inclusion in the White List and selected 150 people who can start testing today. The selection principle was simple: we analyzed the profiles of the participants, evaluated their experience in DeFi and trading, and selected the most experienced participants for early testing. If you do not find yourself in the list of test participants, do not be discouraged: you can write to the alpha testing section on the Discord server, tell us about your experience in trading, testing, and DeFi, and we will manually add you to the list of early testers. Please note that you will need to earn a couple of reactions to your message to be valid.

Getting started with testing

Already today, participants added to the White List can take part in testing and start sharing their feedback. It is very important for us to get high-quality feedback from participants in order to be able to improve the product before it goes to the mainnet. Therefore, all testnet participants who share useful information with us will receive a reward of $50 in $SOL.

When you connect the wallet, you will see the “Share feedback” button in the interface. Click on it and you will open a form where you can leave your feedback. You can leave as many suggestions as you like, one application for each incident or suggestion (this will simplify our work).

Valuable feedback should include one (or both) of the following:

• A detailed description of the issue including device and browser details, position details, screenshots, and other artefacts that can be used to reproduce the bug.
• Suggestions on how to improve the current version with details and examples of implementation of new features (please do not cover the features we have planned for new releases).

If more than one person submits the same issue or suggestion, we can only reward the first submission. Also, we can only reward issues that the dev team is able to replicate on our side. Please note that feedback on smart contract operation is more valuable for our team than some frontend / UI improvement suggestions.

The White List participants will have 3 weeks to submit their feedback. The winners will be announced before the end of January 2022. The rewards will be paid to the wallets that were used to register for the White List.

How to test?

After connecting your wallet to Spin’s Perpetuals v2 testnet, press “Get 100,000 USDC”.

This feature also includes adding some SOL to your account, but if it doesn’t, you can claim SOL yourself with any Faucet like Solfaucet or other! Remember that SOL is required for transaction fees on the Solana blockchain.

Then you need to deposit test USDC tokens to your margin account. Press “Deposit”, select the amount you want to deposit, and press “Deposit”.

After that, you’re good to go with testing: start creating long and short orders, entering positions, closing orders and positions, etc. Be as creative in your testing scenarios as possible! Don’t forget to try different markets like SOL-PERP or ETH-PERP, use indicators, draw lines on charts, etc.

It will be more valuable if you can calculate various metrics like entry price, margin ratio, uPnL and check if it works correctly according to the formulas posted on Gitbook.

If you find some bug or make up an improvement suggestion, click on “Share feedback” button at the top of the interface and describe everything in detail. We also encourage participants to share their experience feedback and testnet screenshots on Twitter, it’s very much appreciated :)

Stay tuned with Spin’s announcements on Twitter, Telegram, and Discord!