Have you seen the price of BAT today? It is now trading at $1.23 and reached and an all-time high of $1.36 with a 19% price increase as of writing this article. Just wow right? When last week it was just trading below $0.60.
The BAT price surge is integrated with its good news lately, the Brave community behind BAT token is continuously doing their best for development. They are even launching their Brave Search Engine this year, a privacy-centered searched engine like it's a browser.
Just yesterday, I saw BAT joined the liquidity pool with BAKE at Beefy Finance with a 1.23k% APY and 0.73% daily. I took the opportunity to farm it. It was my first liquidity pair farming. I plan to farm BCH-BNB LP, I wasn't able to make it because I was waiting for a little bit of pump of BCH since it was down. Then, I saw this BAT-BAKE LP at Bakery.org and it has a high percentage of APY at Beefy Finance so I took the opportunity to try it. I am ab bit late as it started with 12.72k% APY with 1.34% daily.
How to add liquidity pair?
This is my first time making liquidity pair, I am so lazy lately to do it since I also don't have a lot of capital to do so lol. So, I am gonna share how to make liquidity I love sharing new knowledge and experiences in crypto.
Fund your wallet with the coin pairs you wish to add on liquidity. (Trust wallet or Metamask if you are using PC)
A. Send both coins on your Trust or Metamask wallet, (since I tried BAT and BAKE this would be my example).
B. Or if you have BNB you can swap it directly from your preferred liquidity provider. I will show you a sample of how to swap BNB to the coin you need since I just swap my BNB to BAT.
Open your Trust Wallet or Metamask, in this scenario, I am using Trust Wallet. Then click DApps. Once you Click DApps it will show you a tab above to paste or type the site link. In this example I used bakeryswap.org.
Paste or type the liquidity provider you chose, since I joined the BAT-BAKE LP this would be my example but for all liquidity pairs, I assume it has the same process. I paste the bakeryswap.org
Make sure to change the network to BSC or Binance Smart Chain.
Click Exchange or in another liquidity provider the option is Trade, just click it.
Choose SWAP.
After Clicking SWAP you will see the button for the swap, see photo below.
Choose BNB, make sure you have BNB for the swap.
Choose the coin you wish to swap with
Input the amount of BNB you want to swap then the estimated value of the coin you wish to swap with will automatically appear.
Then Click Swap. Once you Click Swap the confirmation button will appear with some fees, so make sure you have some BNB left for covering the fees.
Add liquidity
After funding your wallet or you have done swapping you can now proceed to add liquidity pair, so you can start approving it to your preferred farm pool.
On your preferred liquidity provider click the options or the main page and click Exchange or Trade. Once you click it the option will show Swap and Pool.
Choose Pool
When you click pool Add Liquidity will appear.
After clicking add liquidity the options will appear, refer to the photo below.
Choose the first coin you wish to add on liquidity, then choose the second coin pair of your preferred liquidity pair below the first.
Add the amount of your first coin, you can click max and the estimated value of the second coin will automatically appear. Then the prices and pool share of both coins will appear.
Approve both coins, it will incur some fees for both of them so again make sure you have BNB spare for the fees.
Once you approve both click supply. Then then the total liquidity token will appear. Refer to the photo below.
Once you click supply the total liquidity token will appear. It will show you the breakdown of both coin deposits, rates, and pool percentage. Then just click Confirm Supply to proceed to the transaction then again, it will incur another fee.
Once done, the liquidity token balance will appear on your farming site. Then your all set to start your liquidity farming journey.
Add liquidity pair to start farming 🚜
First: put the link to the yield farming site you choose. I farmed at Beefy Finance, so I put beefy. finance. Then the liquidity pair will appear.
As you can see BAT-BAKE LP is still on balance to START farming you have to deposit it. Just tap the liquidity pair. Once you click it the deposit button will appear.
Click deposit.
Choose the percentage you want to deposit. Then confirmed it, again you will pay a little for this. Once done, it is not deposited yet.
Click deposit all, then you will more expensive than the first, I think I paid $1.10 for approving it. Then just confirm it, wait for a moment and it will appear to the deposited.
After confirming you will see a deposited amount and that's all set, you are now farming.
Now, that you are set just wait and harvest when you want to. As you can see it has an APY of 1.23k% with 0.71% daily.
I hide the amount because I invested a small amount to try my first ever liquidity pair, but I think I spend $22 in total. Not counting the fees.
As I checked now the APY dropped from 1.23k% to 267.32% with 0.36% daily, it dropped big time, I felt like I got scammed by the APY lol, maybe many tried this liquidity pair. I choose it also because I also believe in BAT while BAKE is also doing good and has more chance to grow.
That's all, this is not financial advice tho. DYOR on projects before jumping and putting your hard-earned money, always remember to invest what you can afford to lose only.
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