Try Algorand's Top dApps, Learn, and Get Rewarded with Coinbase

September 16, 2024

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.

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.

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.

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.

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

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

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.

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 This content 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.