What Is AutoShark?

Autoshark is a yield optimizer on the Binance Smart Chain (BSC), for Automatic Liquidity Acquisition Farms and AMMs.  It has been forked from PancakeBunny, and offers many different staking and farming pools.

Wasn't AutoShark compromised?

There was an exploit that caused the native SHARK token to drop in value rapidly, the devs have learnt from this, fixed the exploit and issued a new native token 'JAWS' which was airdropped to holders of the original SHARK token as compensation.  To me this shows a willingness to fix errors, compensate users and that the devs are in this for the long haul, not for a quick buck.

What can I stake?

There are many options for staking and liquidity pools, I have chosen to dip my toe in by staking BSW, and earning both BSW and JAWS tokens for doing so.  In staking BSW only rather than a LP I'm avoiding any risk of impermanent loss and am only exposed to changes in BSW value, and JAWS values for rewards only (and obviously the stability of the site itself). Current APY / APR is 93689.60% / 690.82% for this pool, and it is an automatic compounding pool.

How do I start?

If you want to stake BSW, first you need the token which you can obtain from BiSwap, and swap from BNB.

It's easiest to connect using a Metamask wallet - if you don't have one already, they are easy to set up.  You'll need to add Binance Smart Chain onto the available networks and ensure it is connected to this network before you then connect to BiSwap.  You can do this from the menu, settings, advanced, custom RPC then using the following details:

• Network Name: BSC Mainnet
• New RPC URL: https://bsc-dataseed1.binance.org/or https://bsc-dataseed2.binance.org/
• ChainID: 56, or 0x38 if 56 doesn’t work
• Symbol: BNB
• Block Explorer URL:https://bscscan.com/

Make sure you leave some BNB in your wallet for gas fees

After you've done this you can add BSW as a custom BEP-20 token using the contract address: 0x965f527d9159dce6288a2219db51fc6eef120dd1

You will also want to add JAWS as a custom token using the contract address:  0xdD97AB35e3C0820215bc85a395e13671d84CCBa2

I've only just started using Autoshark, having withdrawn my BSW from the Launchpool at BiSwap, to try this - I will update in future to let you know how I get on.  As always - only invest what you can afford to lose - these high APY/APR yield farms are inherently risky, have an exit strategy and stick to it!

Links:

Autoshark

BiSwap

Disclaimers & Copyright:

Any links in my posts are referral where possible so if you sign up and use the site via those links I get something,  or we both get something out of it, if there is no referral link available it’s just a straight link to the site.  I really appreciate anyone using referral links as it supports covering my time writing these articles.   None of my opinions or recommendations are based on whether a referral link is available and I have received no other incentive to write any of these articles, they are a true representative of my own experiences, good and bad.

This is not financial advice and I am not a financial advisor.  Do your own research before making any investments.