Delicious gains in the making

FARMING ON THE BSC CHAIN

By bdrum | CURVED ANGLE | 17 Apr 2021


In the first instalment of this new blog, we’ll talk about the BNB/BSC eco-system and the gains you can get through FARMING aka staking certain tokens to get nice gains on other tokens or to the same one, thanks to great APRs and PASSIVE INCOME.

THE BINANCE SMART CHAIN 

The Binance smart chain is a decentralized blockchain using PoSA (proof of staked authority) meant to have short block time and lower fees if compared to the more famous Ethereum ecosystem. 

Every operation is paid through BNB, the native coin of Binance, and you’ll need a wallet (e.g. Metamask) to make it work.

Mind you, BSC is a fork of Ethereum, and PoSA can be seen as a form of “less decentralized” system, but BSC prime focus can be seen as giving end-users a uniswap/sushi-experience without the fees that, especially for beginners or less fortunate people, are not sustainable. In a way, it addresses the delay of ETH 2.0 and the massive surge of Gwei.

If you want to have a better grasp (as you should do) of BSC, check this: 

https://www.binance.org/en/smartChain

FARMING

So, you might ask, what’s the big deal? What can I gain from this?

And here comes the answer: a new form of passive income.

On the BSC, you’ll often find 2 ways of staking: Liquidity Pools and Stake Pools. We’ll go through the latter, as it’s an easier and safer way for our purpose.

Usually, to farm in the bsc world, you’ll need to swap your BNB in your wallet to a certain token used as the baseline of every staking on the site. Once you enter the contract for your staking option, your tokens will be deposited and start earning. You can harvest your gains any time, and unstake too. The only price will be a small fee to validate the transaction.

Since APRs are usually high (up to 300%), you can leave your crypto there and enjoy daily, weekly and monthly gains without the risk of a long stake at the outset of a bear market, as you could unstake immediately and tether up.

But where should you go for this gainz?

Due to the success of BNB and the bep-20 tokens, a lot of sites and dapps offer crazy deals for your tokens. Yet, you could end up meeting a rugpull or other issues, as often there isn’t a serious roadmap or planning behind.

Thus I recommend three sites: PANCAKE SWAP, BEEFY.FINANCE and AUTO.FARM, as they have been around for a while and have serious backing.

 

PANCAKE SWAP

https://pancakeswap.finance/pools

The first choice is the Binace-backed Pancake Swap, the go-to place for everything bsc. Here the main token is CAKE, and using it allows us to stake on a huge variety of tokens, that might net some nice gains if they experience some growth down the line.

You can also stake Cakes to get more Cakes, with the possibility of auto-compounding your earnings, exponentially increasing the amount throughout time. You’ll maximize your gains with a long-term play, in order to avoid fees.

Cake has only got an extremely high value in the last 3 months, and seems to have found a solid baseline around 20 dollars per token, thanks to the BNB booming value.

 

BEEFY.FINANCE

https://app.beefy.finance/

BEEFY is a Yield Optimizer project, using DeFi and investment strategies to help you net more earnings through your staking. In this case, you don’t have to use only cake to stake certain tokens, as BEEFY aggregates various sites and projects to give you the better buck for your crypto. The catch is that they will get a small fee on the transaction, but making you reach profit faster with a single go-to place, rather than many, easing up your life.

 

AUTO.FARM

https://autofarm.network/

Last but not least, AUTO. With a fresh new website and the new swap feature, autofarm keeps offering good APYs that often are higher than what you could find around. You can also stake known crypto there (eth,dot,ada…)  without the need to swap it for another token first.

If you ever want to stake CAKE for other CAKEs, I’d recommend this as your pick, as you’ll have a higher APY compared to PANCAKE, with the added benefit of AUTO REWARDS

What are AUTO rewards you might ask? It's a free Auto token you earn alongside your coin. And it has a great value too, as you can swap it anywhere for further net gain.

 

TO SUM UP

The BSC world, as of now, offers massive chances for great gains and a stable passive income, with the further benefit of a more flexible staking approach. And as BNB and Binance keep growing, I do believe this chain will stay around. Of course volatility and the perennial fear of a bear market have to been considered too, yet, if you see this bull cycle as still in the making, investing in new ways to maximize your profit might be a great way to diversify your portfolio

Your choice

As usual, don’t take this as financial advice, do your own research and try to understand how this environment works. Be wary of random coins or  .finance projects and always control where you are putting your money.

 

Hope you have a great day and massive gains, and see you soon with new projects and news

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CURVED ANGLE
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