Performing the Hyperdrive testnet from the DELV project
In April 2024, the DELV project developers announced the launch of the public testnet in their X (formerly Twitter). Hyperdrive’s proprietary Automated Market Maker (AMM) protocol Hyperdrive was introduced to the community.
DELV is working on the secure implementation of decentralized financial systems by creating a new open source infrastructure. Hyperdrive is one of the team’s developments. Detailed technical information can be found at the link.
The project has an unnamed amount of investment from a16z, Polychain Capital and others.
Testing aims to gather user feedback to improve the protocol before a potential launch on the mainstream network.
In this guide we will take a closer look at the testnet activity from DELV and show step-by-step steps of its execution.
Executing the guide
Note: you need a Metamask-type wallet to pass. If you don’t have one, you can use our guide to install and customize it.
Preparing for the walkthrough
If your wallet balance has the test ETH tokens on the Sepolia network, you can skip the preparation stage.
- Let’s move on to the faucet. Choose the desired network, insert your address and continue:
- Click Send me 0.05 ETH. To get more Ethereum you can perform optional actions:
Note: optional faucet if the first one will not work. Requires registration.
Guide to completing the activities
- Go to Hyperdrive and connect your wallet.
- Choose any of the options presented on the main page:
- Mint an additional token. Next, choose Long or Short and click Open:
- Specify the quantity and confirm:
- Next, proceed to liquidity provisioning:
- Perform similar actions to open a trading position action:
- Active positions are displayed on the corresponding sections. Click Remove (or Close) and test the close functionality:
- Leave feedback in the Discord of the project. Also report any issues if you encounter them.
Conclusion
The steps shown in the guide will familiarize you with the basic actions in the protocol. Using them, it is worth periodically interacting with the platform, but with other tokens, amounts and the like. Execution takes place in the testnet and does not require the expenditure of real funds.
Highlights:
- no cost;
- one-time interaction may not be enough;
- no token information.
If you have any questions while going through the activity, you can ask them in our Telegram chat.
It will be interesting
