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Exploring new DEXs on SmartBCH

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Written by   26
3 months ago

Hello guys 😊

I hope you are all started to enjoy the harvest on smartBCH using different DEXs. 

In my previous post, I talked about harvesting in Benswap.cash, today I will talk about 2 other DEXs that are Mistswap.fi and Tropical.finance

These DEXs are actually similar in the usage and process but each one has it's own tokens, percentage of yields (APR) and combinations in their farms. 

After my experience with Benswap.cash, I really liked the idea and im usually a fan of passive income. 

So I went to Mistswap.fi to explore it and try to make another passive income by  staking my BCH and other existing token  on the smartBCH network. 

A small reminder: Kindly check my previous article if you need more BCH to know how to get them and to use them on the SmartBCH network.

First of all, you need to connect your wallet (Metamask). Then, while you are in the Swap section, you will choose the tokens you want to swap to so you stake them in farms or pools after you check the available combinations. 

In my Metamask, I had BCH and some tokens from Benswap.cash. And I decided to do the same strategy as in Benswap.cash also in Mistswap.fi

Here are a list of the tokens existing on Mistswap.fi

So I bought with half of my BCH, the token FlexUSD. The next step was adding the liquidity and I added the pair BCH and FlexUSD. Adding them you get the pair WBCH (BCH) and FlexUSD which you can use to stake them in the appropriate farm.

When you add the liquidity, you get your LP tokens which represent your share of liquidity.  

Your next step is to go to the appropriate farm, you click on Get flexUSD/WBCH LP tokens for staking, you add the amounts (I choose the maximum), then you click on approve and on Stake. 

And tadaaaa your harvest begins! 

This farm yields MIST the native token of the DEX with an APR of 54.57% annualized. 

You can harvest your MISTs whenever you like by clicking on Harvest and approving this operation on your Metamask or you can also unstake your pair whenever you like by clicking on Unstake. 

Another step I made on this DEX is to stake my harvested MISTs for xMIST with an APR of 7.03% but this APR changes frequently. The xMIST you receive are compound continuously until you decide to unstake, then you receive all your MIST and your rewards. 

There are also the pools you can invest in. 

That is all about Mistswap for now. 

About Tropical.finance, when you go to this site, you click on launch app, then you connect the wallet, and do the same process as in the other DEXs. 

Here are some of the tokens of this DEX. 

In tropical, I chose DAIQUIRI-BCH LP farm to stake in which has the APR of 202.11%. 

So as I said before in my previous article, as much as you invest, as much as you earn! 

Good staking and harvesting guys😉

 

Thanks for reading ❤️

 

*This is my original article that was published first on publish0x.

*Picture from google. 

Disclaimer: This is not a financial advice, I am only explaining how to use these DEXs and it's up to you to decide how to manage your portfolio. 

Feel free to register in Read.Cash using my link:

https://read.cash/r/TLGirl

 

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Written by   26
3 months ago
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Comments

That's great smart bch lover...may you have more bch in your wallet.. good time to enjoy

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3 months ago

Thank you Bittantis, I'm glad you are enjoying my articles :) I will always try to spread the word of crypto everywhere and especially in my country.

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3 months ago

Congratulations TLGirl, you are doing a good job 👍

I will continue to read your articles 😉

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3 months ago