Algorand has teamed up with Coinbase to give those curious about our ecosystem a chance to experience some top dApps firsthand. Five on-chain tasks have been designed for you to sample DeFi swapping, farming, NFTs, and claiming a Web3 domain–all on Algorand.
Become familiar with the Algorand ecosystem through dApps like Pera Wallet, Tinyman, and Folks Finance, all while being rewarded up to $20* in Algo and USDC. You can also claim an NFT on EXA Market and mint a fresh Web3 domain on NFDomains.
An Algorand education, a fantastic Web3 experience, and a neat payout all await you through Coinbase Learning Rewards!
What are Coinbase Learning Rewards?
Coinbase Learning Rewards, or quests, are educational opportunities to learn the basics of Web3. Users can acquire skills that will empower them to explore the new internet through various blockchains—and earn crypto.
From setting up crypto wallets to performing fundamental DeFi swaps, exploring NFTs, and claiming Web3 domains, Coinbase quests will send you down a digital rabbit hole and equip you with the fundamentals you need.
Coinbase quests are a fun and interactive way to explore Algorand. Each task in the Algorand quests are designed to teach you something new about the ecosystem and give you the tools to navigate Web3.
Time to Get Questing!
The Algorand quests comprise two lessons (each ending in a short quiz) and five tasks, which will quickly familiarize you with Algorand and how some of the dApps work.
Here’s what you can look forward to:
Lesson 1: What is Algorand?
Quest 1: Download & Fund Pera Wallet
Lesson 2: Discover DeFi and More on Algorand
Quest 2: Swap on Tinyman
Quest 3: Farm on Folks Finance
Quest 4: Claim your .algo domain on NFDomains
Quest 5: Claim an NFT on EXA Market
Lesson 1: What is Algorand?
In the first lesson, you will learn the basics about Algorand and some of its powerful features. You will also start to understand the ecosystem that makes the blockchain tick and get acquainted with one of the ecosystem’s leading wallets—Pera.
Pera is an important portal to Algorand and the ecosystem, so take note of it here. Quest 1 requires you to download and fund your Pera wallet.
If available in your region, you can access the quests by going to your Coinbase app and getting started.
Please note: the rollout of Coinbase Quests can take several days to reach all eligible users. If Quests are not immediately available, please keep checking your Coinbase app.
Quest 1: Download & Fund Pera Wallet
Understanding Pera Wallet
Pera Wallet is your starting point for any interaction with the Algorand ecosystem. It is the easiest and safest way to store, buy, and swap on Algorand and it is the best place to discover and connect decentralized apps, or ‘dApps.’
Crypto wallets are not just for storing coins and tokens. A good crypto wallet will give you access to an entire blockchain ecosystem. It lets you send and receive crypto, interact with dApps, have a crypto identity, and be a part of the DeFi world.
Quest 1 will have you download and fund Pera Wallet. This is a simple quest, but it is also your key to the entire Algorand ecosystem and the other quests. Pera Wallet is a good introduction to creating a Web3 wallet for first-timers and a chance to experience Algorand’s speed. Funds sent from the learn-and-earn rewards on Coinbase in this quest will take less than three seconds to appear in your Pera Wallet app!
Find out more about Pera Wallet.
Disclaimer
This non-custodial wallet operates in an unregulated environment, and as such, it does not benefit from the same regulatory oversight as regulated crypto or traditional financial institutions. Users are solely responsible for the security of their private keys and the safekeeping of their funds. Please be aware of the inherent risks associated with cryptocurrencies, including market volatility and the absence of certain consumer protections. This wallet is committed to legal compliance within applicable frameworks, but users should carefully consider their risk tolerance and conduct their own research before using our services.
Not a regulated entity and does not carry on regulated services.
The information provided herein does not constitute investment advice, financial advice, trading advice, or any other sort of advice, and you should not treat it as such.
We do not recommend that any Algo or any crypto assets be bought, sold, swapped, staked, or held by you.
We do not broker trades on your behalf. The content herein may provide access to or link to third-party services in connection with the buy/sell and swap functionalities. When accessing third-party services, you understand that you are not transferring your assets to us.
We make no warranties or representations, express or implied, about linked third-party services, the third parties they are owned and operated by, the information contained on them, assets available through them, or the suitability, privacy or security of their products or services. You acknowledge sole responsibility for and assume all risk arising from your use of third-party services, including risk of loss for assets trading through such third-party services. In no event will we be liable for any damages arising out of or relating to third-party services.
Lesson 2: Discover DeFi and More on Algorand
In lesson two, explore the rich ecosystem of dApps on Algorand, which all benefit from the network’s scalability, low cost, and security. You will also be introduced to DeFi, real-world assets, and stablecoins, which form part of the Algorand ecosystem's wide, robust offering.
Disclaimer
The Algorand Foundation makes no warranties or representations regarding the third parties mentioned below. We have no control over the content on their websites, the assets they offer, or the suitability, privacy, or security of their products or services. Please exercise caution when accessing these sites and ensure that you understand the associated risks.
Quest 2: Swap on Tinyman
Understanding Tinyman
Tinyman is a decentralized exchange (DEX) and automated market maker (AMM) built on the Algorand blockchain. It offers a fast, secure, open marketplace for traders, liquidity providers, and developers.
Swapping one cryptocurrency for another is a bedrock of DeFi and a key aspect of any blockchain ecosystem. It is similar to asking your bank to exchange local currency for foreign currency, but it is fully decentralized, transparent, and more accessible.
Your first taste of the Algorand ecosystem will be a crypto swap on Tinyman. Using your newly created Pera Wallet, you will swap Algo to USDC, experimenting with real DeFi activity and gaining different tokens.
Find out more about Tinyman
Disclaimer
This communication is for informational purposes only and does not constitute an offer or solicitation to buy or sell cryptocurrencies. We do not recommend that any crypto assets be bought, sold, swapped, staked, or held by you.
Quest 3: Farm on Folks Finance
Understanding Folks Finance
Folks Finance is a DeFi dApp built on Algorand that offers lending, borrowing, staking, and trading crypto and other digital assets. Folks Finance intends to make the user experience feel familiar and similar to traditional finance but with all the benefits of being entirely decentralized.
Staking cryptocurrency that is sitting around in your wallet is a good way to put your coins and tokens to work. If you decide to put your crypto into liquidity pools, you contribute to the network's growth and promote decentralization.
In the Algorand ecosystem, you can try staking for yield with Folks Finance, in this case, farming USDC by putting it into a liquidity pool.
Find out more about Folks Finance
Disclaimer
Staking rewards comes with risks. The value of crypto assets could go down while they are staked. This can result in loss of staked assets if the DeFi platform is hacked or goes offline. The crypto assets may be subject to inflation if the network's inflation rate is high.
Quest 4: Claim your Domain on NFDomains
Understanding NFDomains
NFDomains is a naming service and marketplace for trading non-fungible ".algo" domains, built on Algorand. You can mint or claim your very own Web3 domain on NFDomains to use as a Web3 identity and wallet address to easily interact with the blockchain.
Web3 domains have become popular for individuals to navigate the new internet. Having your own personalized identity is a great way to become more in tune with the Algorand ecosystem. Your custom name serves as a human-readable wallet address and helps with NFT management and dApp interactions.
To claim your own “.algo” Web3 domain in Quest 4, go to NFDomains and mint a new identity, which will be automatically registered for free, for two months. This is an even easier way to interact with the rest of the Algorand ecosystem.
Find out more on NFDomains
Quest 5: Claim an NFT on EXA Market
Understanding EXA Market
EXA Market is an NFT marketplace on Algorand that allows users to create and collect NFTs. It is one of the most popular NFT marketplaces in the ecosystem and aims to empower future collectors and creators with Algorand’s technology.
NFTs garnered considerable attention a few years ago as celebrities sought to acquire provably unique digital art pieces. While the excitement may have dipped, NFTs’ potential and functionality are still being explored. Tokenization of real-world assets, identity and verification, and Web3 domains—-which we have already explored above—-are all ways you can use NFTs.
Your final Quest will involve claiming your own NFT from EXA Market. Again, you will need your Pera wallet to connect to the EXA Market, where you will claim your NFT and view it.
Find out more about EXA Market
Learn more
While Coinbase Learning Rewards incentivize users to try out new ecosystems and blockchains with rewards, we hope your experience and exploration of Algorand’s Web3 quests have given you a taste of the blockchain’s possibilities and potential.
If you would like to learn more about Algorand, its ecosystem, and technology, or you’d like to get more ingrained in the community, you can find all the info you need at algorand.co
*reward amounts vary
Disclaimer
The content provided in this blog is for informational purposes only. The information is provided by the Algorand Foundation and while we strive to keep the information up-to-date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the blog or the information, products, services, or related graphics contained on the blog for any purpose.
The content of this blog is not intended to be financial advice. You should not take any action before conducting your own research or consulting with a qualified professional. Any reliance you place on such information is therefore strictly at your own risk.
In no event will Algorand Foundation be liable for any loss or damage including without limitation, indirect, or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this blog.
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