BETH liquidity farming at BakerySwap
-Have you been participating in ETH 2.0?
-Not yet? Why?
-The request of 32 $ETH is too high？The return is not attractive? The staking period is too long or the liquidity is not good enough?
-Why not come to BakerySwap to try ETH2.0 cross-chain farming, one stake triple return, unlimited liquidity, and instant trading.
-How about that?
On December 1, ETH 2.0 was officially launched, marking the start of the Ethereum consensus mechanism from POW to POS. Participants need to stake minimum 32 $ETH be a block producer, and the APY is expected to be 5–20%.
In order to reduce the high request, increase the liquidity of users’ fund, and provide BSC users with a higher annual return, BakerySwap and Binance officially are launching an ETH2.0 cross-chain token called ‘BETH’ on January 6, 2021.
‘BETH’ is an anchor token of ETH2.0 issued by Binance on BSC for those users who’d like to participate in being ETH 2.0 Block Producer. The staking period is about 18 months. $BETH is the only token that can redeem $ETH in a rate 1:1 after ETH 2.0 is upgraded.
The BETH farming section will initially have three pools of BETH-ETH, BETH-BNB, and BETH-BUSD to provide liquidity and farming incentives.
Come to BakerySwap and participate in ETH 2.0 with BETH. Compared with doing it on ETH chain, you will get the following advantages:
1. There will be no minimum 32 $ETH needed on BSC, stake $ETH at Binance to obtain $BETH., and you may join with $BETH as much as you want to put in. 100% of the POS rewards on Ethereum chain will be returned to you. There is no need to take the risk of being a block producer.
2. $BETH can be traded on BakerySwap at any time, and the rewards can be harvested at any time, without a long lock-up period.
3. Providing liquidity for $BETH will get extra $BAKE rewards provided by BakerySwap, which are exclusive on BakerySwap.
How to participate in BETH trading and farming:
1. Link Metamask wallet, set up BSC network
a. Download the chrome browser, search for metamask in the extension, find the wallet plug-in and complete the preliminary settings
b. Click on network drop-down bar and select custom RPC
c. Fill in the following parameters in turn on the right
Network: Binance Smart Chain
New RPC URL: https://bsc-dataseed1.binance.org/
Chain ID: 56
Currency Symbol: BNB
Block Explorer URL: https://bscscan.com/
Click save, switch to network and the setting is complete
(For more details on the BSC chain, please visit: https://docs.binance.org/smart-chain/wallet/metamask.html)
2. The $BETH withdrawal will be available from January 5, 2021. Users may withdraw $BETH from the main Binance site to the BSC wallet.
Log in to Binance account, select $BETH on the withdrawal page, select BEP20 as the transfer network, and withdraw to the MetaMask BEP20 address to receive $BETH in the wallet.
Enter the ‘Exchange’ interface, you can trade $BETH with other tokens on BSC at BakerySwap.
4.Providing liquidity for $BETH
On the ‘Exchange’ interface, select ‘Pool’, and click the ‘Add Liquidity’ button, select one of the three trading pairs BETH-ETH, BETH-BNB or BETH-BUSD, and add liquidity in proportion. Authorize ‘Approve BETH’ in the wallet first, and then click Supply.
After above operation, you can get the BLP liquidity token.
5. Staking BLP token
Enter the ETH2.0 interface, find the pool corresponding to the BLP you own from BETH-ETH, BETH-BNB, BETH-BUSD, and click ‘Select’.
Then authorize the BLP token, i.e. Approve BETH-BNB BLP. After the authorization, click the “+” button to stake the BLP tokens.
Stake BLP tokens and confirm.
The Rewards of $BETH farming includes
a. $BETH Rewards from ETH2.0
b. Extra $BAKE reward from BakerySwap incentive
Users can withdraw $BAKE whenever they want through ‘Harvest’ button. The expected APY is approximately 30%-100%, and the actual APY depends on the ETH2.0 chain rewards and the APY from BakerySwap.
What are you waiting for? Come to BakerySwap to start your journey of ETH 2.0 farming through BETH!