Blueshift DEX on the Milkomeda Algorand A1 Testnet
It’s fair to say that I have always been waiting for a Blueshift integration with any of the top blockchains (outside of Cardano) like Cosmos, Avalanche and Algorand. We cannot underestimate the effect of cross-chain interoperability for a decentralized exchange as this helps increase the community of users and also the total value locked (TVL) on the platform.
So I woke up to news of Cardano layer 2 network, Milkomeda launching on Algorand and it is a move that ticks all the boxes.
What is the implication of this?
We will be seeing the Ethereum Virtual Machine (EVM) capabilities brought over to the Algorand blockchain, a proof-of-stake blockchain cryptocurrency protocol. Like Cardano, the Algorand blockchain was developed to be an Ethereum killer with the persistent issues of slow transaction speeds and high gas cost for transactions on Ethereum.
With this, an EVM developer doesn’t have to worry about moving assets from EVM chains to the Milkomeda Algorand A1 rollup. When this happens, a host of projects on Milkomeda would massively benefit and Blueshift DEX happens to be one of those benefactors. Who wouldn’t want to benefit?
Testing the Blueshit DEX
Blueshift is a decentralized exchange built on Milkomeda that has the very unique feature of holding liquidity in portfolios as against the regular practice of doing so in pairs. The team at blueshift are looking forward to the launch on Algorand and have set up a Testnet to that effect. As expected, users will be encouraged to participate in this so as to give valuable feedback to the devs and help make the actual launch seamless. With this in mind, the Blueshift team have set aside a total prize pool of 3000 BLUES tokens for users who would want to participate in the bug bounty. By using the testnet and providing valuable feedback on the DEX, while on testnet, you stand the chance to be part of the prize pool.
Let’s get in on the steps
Steps
- First get to the testnet site here
- Then you would need test tokens. Follow the instructions here on how you can find your Algorand native wallet with the testnet ALGO tokens and bring them over to the Milkomeda Algorand A1 rollup.
- Now you can go ahead and use the DEX to see first-hand how everything works. You can purchase tokens, sell tokens, provide liquidity and also remove liquidity. All in all, you would need to take note of bugs that you can across.
- The final part is the part where the incentives come in. When you have gone through all the DEX operations, you can now head back and provide info on bugs and feedback here.
Don’t miss out on all this.
Blueshift
A decentralized exchange built on Milkomeda that is Milkomeda and changing the paradigm for liquidity with liquidity held in portfolios as opposed to pairs
Official Blueshift Community Group
Official Blueshift Announcements Group
Milkomeda
Milkomeda is a Layer 2 Protocol (Rollups) delivering EVM capabilities to non-EVM blockchains. Launching on Cardano, Solana and Algorand.
Twitter: https://twitter.com/Milkomeda_com
Website: https://milkomeda.com
Algorand
Algorand is a proof-of-stake blockchain cryptocurrency protocol with its institutional grade blockchain infrastructure, the first and only to achieve decentralization, scalability, and security without compromises and while being environmentally sustainable.
Twitter: https://twitter.com/Algorand
Website: https://algorand.com
