FAQ: Starknet DeFi Spring on Intract
FAQ: Starknet DeFi Spring on Intract
List of commonly asked questions for the Starknet & Intract community
General FAQ
What is Starknet DeFi Spring?
Starknet DeFi Spring is a 6-8 week long DeFi activation event by Starknet Foundation in collaboration with leading DeFi protocols & Intract , your go to web3 quest platform. As part of this event, you could be eligible to earn incetives distributed by partner protocols , 40 M $STRK every two weeks. You can learn more about this event here.
What are Starknet DeFi Spring quests?
The quests on Intract mark the launch of Starknet DeFi Spring with a 4 week event where users get to engage with a series of DeFi protocols on Starknet to earn XP. The total XPs earned during this quest whitelist user for 1 out of the 4 NFTs being rewarded as part of the quest.
How long will the quests run?
22nd Feb - 22nd March 2024
When will the new quests be released?
A new quest will be released once every alternate day b/w Feb 22 2024- March 22 2024.
What is the utility of the 4 NFT rewards for DeFi Spring quests?
The 4 NFTs are “proof of completion” NFTs to all questers. They have been designed in close collaboration with IMCMPLX, the artist behind 0n1Force.
When can the NFTs be minted?
The NFTs can be minted after the completion of the 4 week quest. A quester would be able to mint only 1 out of the 4 NFTs depending on the level they achieve ( basis total XPs earned).
Which wallet shall I use to complete my quests for Starknet DeFi Spring?
You'll be able to proceed with either of the two Starknet wallets those are - Argent wallet and Braavos.
Agent Wallet
Begin by downloading the Argent wallet extension, accessible for both mobile and desktop, by visiting this site.
After installation, initiate the wallet creation process. Set up a secure password, then proceed to create your new wallet account.
It's crucial to safeguard your wallet's recovery phrase. Access it by clicking on "Show Recovery Phrase" and jot down the provided seed phrase. This will be vital for account recovery.
Fund your wallet with ETH. Refer to this detailed guide for instructions:
https://www.argent.xyz/blog/how-to-fund-your-argent-layer-2-account/
Bravos wallet
Download the Wallet Extension. Visit https://braavos.app/download-braavos-wallet/ to download the Braavos wallet extension. It's available for both mobile and desktop platforms.
Create a New Wallet Once downloaded, proceed to create a new wallet. Set up a secure password for your wallet and ensure you remember it. Next, back up the seed phrase provided to you. This is crucial for wallet recovery in case of any unforeseen circumstances.
Fund Your Wallet with ETH. Now that your wallet is set up, it's time to fund it with ETH. Follow the guide provided at https://braavos.app/starknet-bridge-the-guide-to-transfer-your-funds-from-l1-to-l2/ for detailed instructions on how to transfer your funds to Starknet
How to login into Intract to start my Starknet DeFi Spring quest?
Sign In to Intract with an EVM Wallet: Firstly, ensure you are signed in to your Intract account.
Connect Your Starknet Wallet: Once signed in, you can connect your Starknet wallet, whether it's Argent or Braavos.
Can I disconnect a Starknet wallet I connected to Intract?
No. Please create a new Intract account & continue with the new Starknet wallet. XPs accumulated on one wallet would stay attested to only that wallet & can’t be merged.
How to earn maximum XPs in the Starknet DeFi Spring quests?
To earn maximum XPs in the quest, engage with multiple ( or all ) partner protocols within a quest task. The higher the distinct partners you engage with, the higher your total XP earned will be. As a bonus, by actively engaging with these projects, users not only accumulate more XPs but also increase their chances of receiving incentives from the partner projects.
How to seek support for tasks not getting verified?
First of all be patient & retry verification in 15 minutes - sometimes the code takes time to verify. Secondly, reach out to us on our website itself by clicking on the chat icon at bottom right of the page.
Task Add liquidity to STRK-ETH (min $20 in 1 txn)
Which token pair is eligible for this task?
STRK ETH pair
What does 20$ txn volume in a single transaction mean ?
The total value of both tokens combined should be more than 20 $ when being deposited in the liquidity pool
What rewards will I get for depositing this liquidity? Immediate $STRK?
No, the $STRK as part of DeFi Spring incentives will be distributed every 2 weeks. However, you may be able to earn fees for depositing liquidity on the protocols. DYOR
Can I remove liquidity after verifying the quest task ?
It’s up to you. There are both benefits & risks associated with holding a LP position. DYOR. Our system checks for active LP positions at the time of verification.
Can I do this liquidity provision in multiple transactions?
No, the 20$ liquidity has to be provided in a single transaction.