With the growing activity and volume on Binance Smart Chain (BSC), the Yield Protocol Team is excited to announce that we are increasing and facilitating liquidity for trading on PancakeSwap (BSC) through a BSC Liquidity Farm.
Starting from today — YIELD tokens will be distributed as rewards to liquidity providers who will add liquidity to the YIELD/BUSD Pool on PancakeSwap (V2), and then stake those LP tokens on our farm, LIVE now at https://bsc-staking.yieldprotocol.org/.
How do you become a liquidity provider for the YIELD/BUSD pair and earn YIELD?
In this short article, we will explain step-by-step how to earn more YIELD by staking YIELD to the YIELD/BUSD liquidity pool.
Step 1: If you have your YIELD tokens only on Ethereum (ETH) chain, then you will need to transfer them to the Binance Smart Chain (BSC) via ChainPort using this link: Chainport Transfer. For more details, please read this article — Yield Protocol is live on Binance Smart Chain. Or you can also purchase YIELD tokens directly on PancakeSwap
Note: YIELD BSC token contract address: 0xf9d906a8dd25c4a4966bc075cdc946702219e62c
Step 2: You will need to add liquidity to our pool on PancakeSwap via this link: Add liquidity
Providing liquidity on PancakeSwap is simple:
Connect your wallet: Once your wallet is connected, navigate to the ‘Liquidity’ section in the ‘Trade’ menu, select the token pair YIELD/BUSD or, use this link.
Adding liquidity: Choose how much YIELD you wish to add to the pairing — the other half automatically calculates and will auto-fill. This is due to the pairing needing to be of equivalent value. Details will be provided on your proportional share of the pool, which will dictate the amount of Liquidity Provider (LP) tokens you receive.
Step 3: Then navigate over to the Yield Protocol BSC staking page and press ‘Connect Wallet’.
After that, make sure you are on the deposit tab, and then press ‘Max’. After approving your transactions, click the ”Stake” button.
You will see your rewards as they accrue, and collect them any time on the right side of our stalking page by selecting ‘Withdraw’.
Congratulations! You are a liquidity provider for the YIELD-BUSD pair!