Cardano: today the snapshot for the testnet

Cardano’s snapshot of the so-called incentivised testnet will take place today at 12:00 PM UTC. 

This testnet is used to evaluate the basic functionalities of the Shelley era, and offers real rewards in ADA to those who decide to participate. Anyone who wants to take part in the tests carried out on the Incentivised Testnet will thus be able to receive ADA tokens in exchange. 

In order to start this test phase, it is necessary to take a snapshot of the UTXO balance of all the ADA held on the Daedalus and Yoroi wallets. After that, those who want to take part in the tests will have to recover the details of these balances and create a new wallet specifically designed for the Incentivised Testnet. 

Once this new wallet is created, the new tools and features that will be implemented in the testnet can be tested and rewards can be earned in ADA.

However, in order to participate, it is necessary to have ADA in the Daedalus and/or Yoroi wallets. Hence, those who want to take part in the tests and have ADA tokens in other wallets must move them to the Daedalus and Yoroi wallets before 12:00 PM UTC today to be able to create the appropriate wallet on the testnet. 

The snapshot only records the ADA held on the two wallets mentioned above, so it is strictly necessary to transfer the cryptocurrencies there before the snapshot if you want to participate in the tests and do not have ADA stored on Daedalus and Yoroi yet. 

Anyone who does not have ADA in these wallets at the time of the snapshot will not have the opportunity to participate in the test phase.  

The Incentivised Testnet allows to test real behaviours, and for this reason, it requires real rewards. ADA holders on the Incentivised Testnet wallets will be able to participate in the tests by stake delegation or managing a staking pool. 

The objective of these tests is the creation of a decentralised network of participants distributed globally. The information collected through the Incentivised Testnet will be used to create a fair and balanced incentive mechanism to ensure reliable and honest network participation in the future.