How To Earn via Biswap Farms?
Start Passive BSW Income in a Wink!
Have you caught the thought of getting crypto in the way of passive income, little effort, and a few seconds? Such beneficial earnings can come true on Biswap Farms! In this article, you will find out useful information about farming with all the details and clear examples.
What is Farming on Biswap?
To begin with, Farming is a passive income opportunity that allows you to multiply crypto with high APRs by providing liquidity to a chosen pair of tokens.
Once you have provided the liquidity on Biswap, you get LP tokens which can be later staked to Enable Farm and bring you BSW rewards. Let’s dive into the details and see the examples.
How To Start Earning on Biswap Farms?
Now, we will go over the step-by-step guide with the screenshots so you can gain a better understanding of farming on Biswap. The BNB-BSW Farming Pair will play a role as a sample for this guide.
Provide Liquidity, Stake LP tokens & Earn BSW
As you noticed, there are two tokens in a farming pair. In order to enable any farming pair on Biswap, you need to have LP tokens that could be obtained via liquidity provision on the platform.
The liquidity needs to be provided for two tokens in a farming pair that you wish to start, let’s say it is BNB-BSW:
Head to Farms on Biswap
Find BNB-BSW Farming Pair and click the Get LP button
You will be automatically transferred to the Liquidity page on Biswap, where you can provide liquidity for BNB-BSW tokens in the farming pair.
3. Enter the equivalent amount of each token from the farming pair and click the Approve WBNB button
We use WBNB on the BEP-20 network, Binance Smart Chain. So BNB (BEP-2) tokens need to be wrapped (become WBNB) to provide liquidity. You may wrap BNB to WBNB by swapping the Exchange tab.
Note that you need to have BNB to pay the network fee.
4. Once you have Approved WBNB, click the Supply button
5. Next, you need to press the Confirm Supply button
Congratulations! 🎉
The transaction has been successfully submitted, and you can now stake your LP tokens in the BNB-BSW Farming Pair to earn BSW for free.
6. Click Stake LP tokens under BNB-BSW Farming pair to Enable BNB-BSW Farming Pair and start earning BSW tokens in return
Awesome! Your Farm is activated on Biswap! You have just started a lucrative BSW passive income.
How To Unstake & Harvest Tokens on Biswap Farms?
Harvest your mighty BSW tokens by clicking on the green Harvest button near the earned BSW balance.
2. Unstake your LP tokens by clicking on the blue Unstake button.
3. Enter the number of tokens that you would like to Unstake and Confirm your decision.
4. Go to the Liquidity tab, find your Liquidity, and click on the arrow.
5. Click on the Remove button.
6. Move the slider to regulate the sum you want to unstake.
7. Approve the unstaking amount.
8. Press the Remove button.
9. Confirm the operation.
10. Confirm the transaction in your wallet.
11. Now, you can see that your Liquidity is removed and sent to your wallet.
Which Rewards Does a Liquidity Provider Get on Biswap?
As you already know, to become a liquidity provider, you need to add liquidity on Biswap. A liquidity provider receives:
💸 Passive income on Farms:
Get passive income in BSW for the LP-staking on Biswap Farms with a high APR.
💸 The 75% from the Trading Fee: A total of 0.15% in the form of a Fee Reward from the Trading fee of 0.2% is sent to Liquidity providers when someone makes a swap on the Biswap platform with a specific farming pair.
It is a pretty beneficial method to maximize crypto, right? So, rush to become a liquidity provider and get profitable rewards!
What Is Impermanent Loss?
Any trading pair can be impacted by volatility. Therefore, liquidity providers might occasionally experience a temporary loss of their funds.
Also, the impermanent loss displays how much more money a user would have had if he/she didn’t provide liquidity and instead held onto their assets.
Undoubtedly, DeFi is changing the world of finances in various positive ways. However, no one is insured against possible risks connected with impermanent loss.
Where To Find Live & Archive Farms on Biswap?
You can easily find Live and Archive Farms by clicking on the switch button in the top right corner under the description of the Biswap Farms:
Biswap Farms is a very vivid section on the platform where you can take your BSW funds to the next level, gain high APRs and experience clear UI/UX created by the talented Biswap design team.
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