Announcing the Amnis Testnet Launch
Amnis Finance, a staking protocol built on the Aptos chain, has announced the launch of its testnet, allowing users to stake APT and earn rewards in a liquid and flexible way. The testnet is a precursor to the mainnet launch, expected to happen in Q4 2023.
Introduction
Amnis Finance aims to provide a simple and user-friendly interface for staking APT tokens, the native currency of Aptos, a scalable and interoperable blockchain platform. Users who stake amAPT tokens through Amnis AMm will receive stAPT tokens, which represent their stake and can be used in various DeFi applications. However, users first need to mint amAPT by using APT.
By staking APT tokens through Amnis, users can enjoy several benefits, such as:
Earn passive income from staking rewards, which are expected to be around 8% APR.
Retain liquidity and flexibility of their staked assets, as they can use stAPT tokens for lending, borrowing, trading, yield farming, or other DeFi activities.
Participate in the governance of the Amnis protocol, as AMI holders can vote on critical parameters and proposals that affect the staking ecosystem.
Access a range of integrated apps and services that complement Amnis's staking capabilities, such as Petra, a multi-currency wallet that supports APT and AMI tokens.
The testnet launch of Amnis Finance is a significant milestone for the Aptos community, as it demonstrates the potential of liquid staking on the Aptos chain. Liquid staking turns illiquid-staked assets into liquid assets, meaning users can enjoy the benefits of staking without sacrificing liquidity or opportunity cost. Liquid staking also enhances the security and decentralization of the network, as more users are incentivized to stake their tokens and delegate them to validators.
Moreover, the testnet launch of Amnis Finance will last until the launch of the mainnet version, during which users can stake amAPT tokens on the testnet and receive stAPT tokens. Users can also provide feedback and report bugs or issues on the testnet. We will use the testnet period to fine-tune the protocol and prepare for the mainnet launch.
Instruction
Access the Amnis AMM website: https://testnet.amnis.finance/mint and connect Atops blockchain-based wallet (recommendation: Petra wallet)
You need some APT testnet tokens to execute transactions by clicking the “Faucet” button.
Once users have some testnet APT tokens, they can mint amAPT by using APT testnet tokens by entering the amount they want to mint and confirming the transaction. Users will immediately receive amAPT tokens in return, which they can use to stake stAPT and utilize in various DeFi applications on the Aptos chain.
Once you have amAPT, you can switch to the Stake feature and start staking amAPT
Note: The explicit instructions on how to get familiar with Amnis AMM and its workflow will be published in the following article.
The testnet launch of Amnis Finance is an exciting opportunity for users to experience liquid staking on the Aptos chain and earn rewards simply and flexibly. Users interested in staking APT tokens through Amnis Finance can visit
https://amnis.finance/ or our document (https://docs.amnis.finance/) for more information. Users can also join the Amnis Telegram group and Discord channel to stay updated on the latest news and developments.
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