aETH liquidity farming will launch in ‘ETH 2.0’ of BakerySwap!
BakerySwap is cooperating with Ankr Staking to use aETH, a synthetic derivative asset, to launch new farming pools, including aETH-BETH and aETH-ETH. BakerySwap will allow aETH holders to benefit from becoming liquidity providers. Also we will add $Ankr, $OnX, and extra $BAKE reward, to this farming pool.
What is aETH?
aETH is a synthetic bond-like asset that is distributed to all ETH stakers and can be traded immediately. aETH is one asset & combined value. aETH represents the staked ETH plus all future staking rewards. Initially, aETH is issued at a ratio of 1:1 to the amount of ETH staked. Over time, 1 aETH is expected to grow in ETH value, as it contains the principal stake plus staking rewards.
What is ANKR Token?
ANKR is the token that drives the Ankr Staking platform. And it is the token which stakers can stake in addition to their ETH stake to increase rewards from Ankr platform fees. And a substantial stake of ANKR tokens is necessary to become part of the governance board (a governor does not necessary need to be a node provider).
And what is OnX?
OnX Finance, the first DeFi hub for collateralized tokens. OnX will be the first project to build a DeFi platform specifically targeting collateralized tokens — including services such as Yield Farming, Lending, AMM (CTS), etc,. Now OnX is conducting an exchange airdrop to ANKR holders on BakerySwap.
What will we get from the aETH liquidity farming?
We know that Ethereum 2.0 launch presents major opportunities to early adopters, but at the same time the staked assets get locked in the network until at least phase 1.5 is released. It may take up to several years, which is too long, right? No one knows when we must use these tokens or cannot predict the revenue during this period.
However, like BETH, when aETH is added to BakerySwap’s liquidity farming, it can be traded at any time, and the rewards can be harvested at any time, without a long lock-up period.
It’s awesome that you don’t have to wait so long for your rewards. You can mine ANKR as well as OnX, at the same time, you can get extra $BAKE rewards provided by BakerySwap.
The process of aETH liquidity farming is as follows:
1.Providing liquidity for $aETH.
Go to the BakerySwap-Exchange page, select “Pool”, and choose one of the pools aETH-BETH or aETH-ETH, add liquidity proportionally. Authorize ‘Approve aETH’ in the wallet first, and then click “Supply”. Then you will get BLP liquidity token.
2. Staking BLP token.
Go to the page BakerySwap-ETH2.0, find the pool corresponding to the BLP you own from aETH-BETH or aETH-ETH, and click ‘Select’. Then authorize the BLP token. Stake BLP tokens and confirm.
3. Harvest the rewards
The revenue can be harvested every 1 to 3 days. The rewards of $aETH farming includes:
a. $ANKR Rewards
b. $OnX Rewards
c. Extra $BAKE reward from BakerySwap incentive
Users are welcome to join BakerySwap’s ETH2.0 farming which is high-benefit, low-cost and high-liquidity, and we believe this will become a trend of current Deifi innovation. At the same time, we also welcome more projects or platforms to contact us and launch more liquidity farming pools.