In this tutorial, we’ll guide you through the process of setting up your wallet on Avalanche, transferring funds, and buying PEFI.
Fees
MetaMask displays the gas fee dollar amount in ETH equivalent on Avalanche, however, the token used for gas is AVAX when using the Avalanche network. To calculate the true dollar equivalent, you will have to multiply the units of AVAX used * the current market price of AVAX.
Bridge
You must have AVAX in your Avalanche wallet to make a transaction after you transfer any asset from Ethereum.
Wallet
You can use the same wallet address on Ethereum with Avalanche.
Getting Started on Penguin Finance
Penguin Finance is a staking, yield farming & game platform built on Avalanche with lightning-fast speeds, low transaction fees, and great earning opportunities. PeFi brings you the highest APYs and interactive games to have fun earning our native token, $PEFI.
Avalanche supports the Ethereum Virtual Machine (EVM), which enables traders with Ethereum assets to instantly and cheaply swap tokens. Learn more about PeFi here.
Reminder: to use Penguin Finance & Pangolin (Avalanche DEX), you will need AVAX to cover the gas fees to execute transactions and start yield farming/staking.
Step 1: Setting Up and Funding Your Avalanche Wallet with AVAX
If you already have an Avalanche Wallet and AVAX tokens, skip this step and move to Setting Up Metamask.
Create an Avalanche Wallet
Create an Avalanche Wallet by visiting https://wallet.avax.network/, clicking on “Create New Wallet”, and following the subsequent instructions
Get AVAX
You can get AVAX from any of the supported exchanges listed on CoinMarketCap. The most popular exchange to buy AVAX is Binance.
Transfer to Your Avalanche Wallet
Once you have AVAX, send AVAX from the exchange of your preference to your Avalanche Wallet that was created in Step 1. Find your wallet address that starts with “x-avax1” on your Avalanche Wallet.
Now that you have AVAX, you may proceed to Setting Up Metamask.
Step 2: Set Up MetaMask with Avalanche
Download MetaMask
Download MetaMask here.
Install MetaMask as an extension to your browser. Note that the following browsers are supported: Chrome, FireFox, Brave, and Edge.
Create a Wallet or Import an Existing Wallet
This is where you have to create or import an existing Ethereum wallet. If you don’t have an existing Ethereum wallet, please select “Create a Wallet”. Always keep your Mnemonic and password to yourself and make sure to write it down. Note: This is the wallet that will be used to conduct transactions on Avalanche.
Connect Metamask to Avalanche
Click the drop-down menu and select “Custom RPC.”
Enter the following settings into the respective fields:
Network Name: Avalanche Network
New RPC URL: https://api.avax.network/ext/bc/C/rpc
ChainID: 0xa86a
Symbol: AVAX
Explorer: https://cchain.explorer.avax.network/
Add Penguin Finance (PEFI) token to be displayed on your MetaMask
Select “Add Token”
2. Select “Custom Token”
3. Enter the following information into the available fields:
Token Contract Address: 0xe896CDeaAC9615145c0cA09C8Cd5C25bced6384c
Token Symbol: PEFI
Select “Next”
You have now successfully added the Penguin Finance (PEFI) token to be displayed on your MetaMask.
Step 3: Fund Your MetaMask Connected to Avalanche
Send AVAX to Your MetaMask Connected to Avalanche
Go to https://wallet.avax.network/, and access your Avalanche Wallet.
On the left, there is a list of options. Click “Cross-Chain”
3. Choose the “C Chain (Contract)” as the destination chain
4. Enter the amount you would like to transfer, and then click confirm
5. Send the AVAX from your Avalanche wallet to your MetaMask wallet.
Select “Send”
Select “C Contract” as the Source Chain
Enter your MetaMask wallet address by copying and pasting it into the “To Address” field on your Avalanche wallet.
Confirm and finalize the transaction.
Congratulations! You now have AVAX on your MetaMask wallet and can start using Avalanche.
Step 4: Buy some PEFI for farming & staking
Buy PEFI from Pangolin or start farming it with non-PEFI pairs.
Head over to https://penguinfinance.org/
2. Go to the “Trade” tab on our page and click “Exchange”
3. You should be redirected to Pangolin’s swap page. Once you’re here, click on select a token.
4. Make sure you’re on the “AVAX DeFi Tokens” list and select PEFI. Also, don’t forget to save some AVAX for network fees.
Congratulations! You now have PEFI on your MetaMask wallet and can start taking advantage of our amazing APYs and fun games!
Here are some info graphics you can easily follow to farm our Igloos & stake in our NestsPenguin Igloos