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Staking JULD and BUSD LP in JulSwap to Earn More JulDs: Make Your Money Works For You.
The alt season is just around the corner and that will be a very exciting moment to witness our holdings/cryptocurrencies growing in a parabolic way. We have seen how Bitcoin is growing, then Ethereum breaking its new all-time high and massive moves along with other cryptocurrencies and just lately most large caps like EOS and Bitcoin Cash growing massively.
According to some analysts, the crypto cycle goes like from Bitcoin to Ethereum to large caps and then time for alts to shine. And currently, we have seen most of the large caps going parabolic and that would mean that anytime soon, it's alts' time.
First you would need to have a non-custodial wallet like Trust Wallet. You can't use centralized wallet/exchanges like Binance Exchange to stake with decentralized exchanges like Pancakeswap, BakerySwap and JulSwap. That's just not possible, for now.
And make sure to save your private key or the seed phrase of your wallet because once you lost it, your funds might lost too when you lost your device where you wallet was installed.
Let's go to the staking:
Of course, you need some funds to buy JulDs and and an extra BUSD to pair with it.
Go to your dApp browser and search for JulSwap exchange.
After clicking it, you will be redirected to the swap feature and there you can buy JulD.
You can use BNB, BUSD or USDT BEP20 to buy this token.
And make sure to connect your BSC wallet in the DEX to successfully use your funds to buy a token.
Let's say that you have bought $100 worth of JulD and you want to provide Liquidity with BUSD. because you bought $100 of JulDs, you will also be required to have an extra 100 BUSD for providing Liquidity of these two.
When you now have all of those requirements, just confirm the Liquidity pair and you need to have around $0.50 worth of BNB to pay the transaction fee.
This is how it looks like when confirming. I received 366 LP tokens for 180$ worth of JulD and 180 BUSD.
There are lots of pairings in JulSwap but I chosed the JulD/BUSD pairs because it incentivizes JulD as a reward. I should have use the JULD/JULB pairs but I don't want to waste any more fees just to redo it.
This pair currently have 133% APR and it can change depending of the price of JulD. The higher the better.
So, when you already have your LP tokens from providing Liquidity in the JulD/BUSD pair, you can just simply stake it. Of course, you will be required to pay for transaction fees again. It's a hassle but it will be worth it in the future.
Refering to the last image, I already have 47 JulD in just 1 week of staking.
And the current price of JulD (May 07,2021) is $0.18, which means;
47 x 0.18 =$8.46, at the current price of JulD.
And look at that, I can have almost 10$ every week and in this alt season or in the near future, 1 JulD can be worth $1 each, which means I was like having almost $50 per week.