Cetus Protocol Overview
Cetus Protocol is an AMM liquidity protocol and also a Move-based DEX which is built on Aptos and Sui.
Cetus Protocol is building a decentralized infrastructure on the Aptos ecosystem, creating opportunities to fully utilize investors' idle fund. Cetus Protocol focuses on the user experience in the DeFi space by having an operating mechanism built on a concentrated automated liquidity protocol along with affiliate functional modules.
Cetus Protocol maximizes liquidity providers profits (specifically, the more liquidity is used, the more liquidity providers will benefit from the fees they provides), by concentrating the capital of LP within a highly active range in a concentrated liquidity protocol. Since then, with this operating mechanism, Cetus Protocol can significantly enhance the efficiency of capital use of liquidity providers compared to other common AMM DEXs (Usually using the classic model x*y = z).
Cetus Protocol testnet tutorial and retroactive oppoturnity
On September 23, 2022, Cetus Protol has officially announced the launch of the Alpha version since its first debut in August.
Readers can test Cetus' features by following the detailed step-by-step instructions below.
The user connects the wallet to the platform by clicking on the 'Connect' item. Currently Cetus supports wallets of Aptos ecosystem such as Martian, Pontem, Petra, Fewcha, Spika.
In this article, the writer will choose to connect with Martian. Below is the interface when connecting the wallet successfully.
Users click on 'Request Coins' to receive the platform's test coins. Note: Users need to have $APT in crypto wallet to use as transaction fees. User can get test $APT by pressing 'Airdrop' section in Martian wallet.
Click on 'Request' to get test cryptocurrencies like $USDT, $USDC, $ETH and $BTC.
Select 'Approve' to complete the 'Request Coins' process. Users can 'Request Coins' every 12 hours.
Users test the platform's 'Swap' feature. Here, the writer will swap 50 $USDT to $USDC. Users should not swap the entire amount in order to leave fund for the liquidity pool.
Continue to click 'Confirm Swap' to confirm the transaction and select 'Approve' to complete the transaction.
Users can access the 'Pool' section to provide liquidity to the following liquidity pool, currently there are 3 liquidity pools as shown below. Click on 'Add liquidity'.
Enter the amount to add to the liquidity pool and click 'Add to pool'. Then select 'Confirm Supply' and select 'Approve' to complete the liquidity adding process.
In addition, users can withdraw to the amount of crypto they have added to the liquidity pool by selecting the 'Remove' section in the liquidity pool they have added liquidity to.
Enter the amount of cryptocurrency you want to withdraw and click 'Remove' as shown below. Users can also customize slippage tolerance setting. Then select 'Confirm Remove' and 'Approve' to complete the withdrawal of liquidity to the wallet.
Users should swap different cryptocurrencies as well as create liquidity in different pools in order to find as many bugs as possible to report to the platform. Users can report bugs at the #feedback channel in the Cetus Protocol Discord.
On the Aptos ecosystem, Cetus Protocol is still a very new project that recently entered the Alpha phase. Although the project is still young and has not yet built a large community, the product that Cetus Protocol offers for users is quite extensive and well-organized as well as the interface and user experience is friendly and easy to adapt. Holdstation predicts that Cetus Protocol will have the hope of becoming a potential project of providing liquidity using a concentrated liquidity mechanism on Aptos and Sui ecosystems.