Airdrops
Apr 22, 2025
Soul Protocol Testnet: Earn $SO Tokens by Testing the First Omnichain DeFi Lending Platform
Join Soul Protocol's incentivized testnet to earn $SO tokens by testing the first unified cross-chain lending platform. Supply on one chain, borrow on another - no bridges needed. Limited-time opportunity!
New in DeFi serves as a new approach for optimizing problems in crypto lending like the liquidity issue across chains, now solved by Soul Protocol, which has recently launched its incentivized testnet and it’s offering the early adopters who simply help in testing the platform by paying them in $SO tokens which is the native token of the protocol.
What is Soul Protocol?
Soul Protocol is attempting to be the first complete omnichain liquidity layer that brings together Cross-chain money markets. To put it more simply, it is a system that allows you to:
Supply assets on any chain (for example, Ethereum)
Borrow on other chains (for example, Arbitrum)
Same collateral can be used across multiple protocols
All without manual bridging or fragmented liquidity.
Why Soul Protocol Matters
DeFi lending is currently broken in a number of other ways as well:
Users are always searching for the best rates on multiple protocols.
Bridging assets from one chain to another is expensive, time-consuming, and risky.
Borrowing power is weakened due to fragmented collateral.
Slow bridges make cross-chain arbitrage difficult.
Creating an interface that integrates all major lending protocols on various blockchains will help users solve these issues. Meaning you can deposit assets on Aave (Ethereum) and borrow in Compound (Arbitrum) with the same collateral,- something that is currently not possible in the world of DeFi.
Key Propositions
Pioneer in cross-chain and cross-protocol lending.
Enhances Expending by capitalizing on streamlined lending.
No bridging needed for asset movements between chains.
Supports effortless cross-chain arbitraging.
LayerZero powered with backup by Wormhole, Axelar, and Chainlink.
Continual Development
Soul Protocol is built on LayerZero, utilizing it as the Interblockchain Communication (IBC) to track positions across chains in real-time. For more robust inter-operability, it has integrated backup from Wormhole, and CCIP by Axelar and Chainlink.
Instructions on Partaking in Testnet Incentives
Step 1: Visit the Soul Protocol App
To access the testnet, click https://app.soul.io
Step 2: Link Your Wallet
Press the "Connect Wallet" banner located on the top right and choose your preferred wallet.
Step 3: Obtain Your Referral URL
Hit the “Seed” section on navigation bar
Choose the “Referral Program” option
Copy your referral link for others to use (doing this earns you more Seeds)
Step 4: Complete Tasks and Engage with the Platform
Provide assets to the supported protocols
Cross-chain asset borrowing
Any existing quests in the Seeds area of the app
A greater level of interaction can lead to further Seeds earned
Step 5: Monitor Your Seeds
Consumption tracked in the Seeds area of the app we monitored to perceive quantity to be received as $SO tokens at the TGE.
Supported Chains and Protocols
During the testnet period, Soul Protocol encompasses:
Chains:
Ethereum
Base
Arbitrum
Optimism
Avalanche
Protocols:
Aave V2
Aave V3
Compound V3
Venus Protocol
As a chain-agnostic protocol Soul is bound to not limit itself to possible integration of EVM and Non EVM chains.
Get in Touch with Soul Protocol
Sou in Context Twitter: Tim will provide a soul protocol later for the latest news and updates.
Regarding other opportunities, do remember to follow Leap Wallet on Twitter where new DeFi opportunities and alphas are regularly shared!
FAQs
Why is Soul Protocol unique compared to other lending platforms?
Soul Protocol is unique in many ways. Soul Protocol is unlike any platform as it assists users in supplying assets on one chain and allows them to borrow on another without the manually bridging assets to/from the destination chain. It combines borrowing power on-chain and off-chain, optimizing capital efficiency.
Is it possible to use testnet for free?
Yes, using testnet tokens affords a pseudonymous way to test the system with little risk. Soul seeds are earned without any added risk of employing.
When is the conversion of seeds scheduled to take place?
All seeds will convert to a designated $SO token once the meeting is scheduled to remove them from observation sessions. Currently a date for the meeting is not confirmed.
Which wallets will work with Soul Protocol?
While no details on wallet restrictions were specified, it's fairly certain, that any wallet compatible with EVM can use the platform.
If I am a beginner in DeFi, am I able to participate?
Of course! The testnet is a unique chance to discover cross-chain lending without any financial risk, all the while gaining a potential reward.
