After introducing aETH liquidity provider incentives on BakerySwap last week, we are thrilled to announce our partnership with BakerySwap to improve Binance Smart Chain Eth2 ecosystem and provide liquidity and yield earning possibilities for BSC-staked ETH.
Earlier today we have released Ankr Staking for Binance Smart Chain, where you can stake your BEP-20 ETH and receive BEP-20 aETH, which can be held in your own custody or used to participate in BSC DeFi to earn yield and rewards, with the lowest fees at the highest speed!
By partnering with BakerySwap, we aim to create more liquidity options for Eth2 staking on Binance Smart Chain, enhancing the entire ecosystem!
BakerySwap is a decentralized exchange that offers a next-generation yield farming environment with extremely low fees and high speed. It enables users to harvest their staking rewards any minute they want it.
How to get aETH on Binance Smart Chain and stake on BakerySwap
- Provide liquidity to the aETH/ETH or aETH/BETH pair on the BakerySwap Exchange page
- Stake BLP token on the BakerySwap Eth2 section.
- Harvest the rewards in $ANKR, $OnX, $BAKE, and more!
Full user guide
Here is a quick and simple guide on how to provide liquidity for the aETH/ETH pair and stake your LP tokens on BakerySwap. All on Binance Smart Chain, cheap and fast!
For a guide on how to get aETH on Binance Smart Chain, check out our documentation on ETH staking for BSC.
1. Make sure to set your MetaMask to the Binance Smart Chain (BSC) network. You can find a guide on how to add the network here. Or simply use the Binance Chain wallet extension for Google Chrome, which you can download here.
2. Visit the BakerySwap exchange here: https://www.bakeryswap.org/#/swap
3. Click the [Pool] button and then the [Add liquidity] button to access the liquidity pool. The select the aETH/ETH liquidity pair.
4. Now you need to approve both assets in your wallet before proceeding. When approved, select how much liquidity you wish to supply for each asset.
Please note that the USD value of both assets needs to be the same. You can easily do this by clicking the [Max] button for the asset of which you hold the lowest USD value in your wallet.
Proceed by clicking [Supply] and confirm the transaction in your wallet.
Now your LP position has been created and you will start earning rewards from transaction fees, which you will redeem automatically when unstaking your LP position.
5. Your Bakery LP tokens (BLP), which represent your liquidity position, will automatically appear in your wallet.
If you don’t see your BLP tokens, you find them in your wallet in BscScan and add them manually to your wallet by adding the contract address.
6. Now go to https://www.bakeryswap.org/#/eth2 and select the aETH/ETH BLP pool.
7. You can now stake your aETH/ETH LP tokens in the pool to earn triple rewards! First allow the contract to spend your LP tokens and then confirm the transaction in your wallet.
Now you can stake your BLP tokens.
8. Select the number of LP tokens you want to stake, confirm the transaction and start earning rewards!
If you have more questions about ETH staking on BSC or providing liquidity and earning rewards, please visit our Discord!