How To Stake GUILD: BUSD LP Tokens from PancakeSwap
Bootstrap liquidity on Binance Smart Chain for juicy $GUILD rewards!
Good day, GUIDLers!
The market may be down, but we’re not fazed and continue to listen to the feedback of our community in shipping new products to provide more benefits to our $GUILD holders!
And so today, we are proud to announce the launch of our Staking Vault on Binance Smart Chain, thanks to our technology partner at vault.inc!
BlockchainSpace will now be offering juicy staking rewards to community members who support the $GUILD economy by providing liquidity in our GUILD: BUSD LP Pool on PancakeSwap.
Additionally, to show our long-term commitment to the community, we have bootstrapped the initial liquidity contribution to kickstart the staking vault, locking away our own GUILD: BUSD LP tokens for the maximum duration of 52 weeks. All $GUILD we receive as rewards will be returned to the BlockchainSpace Treasury and earmarked to be either returned to the community, go back to improve our $GUILD ecosystem, or burned to reduce supply.
Learn how to add liquidity to the GUILD: BUSD PancakeSwap LP Pool and stake your GUILD: BUSD LP tokens with low fees on BSC below.
Before you get started make sure you own GUILD and BUSD. You will need to own both tokens before depositing into the Pancakeswap v2 Liquidity Pool.
When depositing into the Liquidity Pool, you need an equal amount of GUILD and BUSD to deposit into the PancakeSwap v2 Liquidity Pool. Please only use links that we provide here.
Do you already own $GUILD and $BUSD?
Great, let’s get you started!
Step 1: ADDING LIQUIDITY: Go to our PancakeSwap Add Liquidity Page. This is the PancakeSwap v2 Liquidity Pool. This is where you enter your equal amounts of GUILD and BUSD.
Step 2: SUPPLY liquidity to the LP Pool:
After entering equal amounts of GUILD and BUSD, you now need to click SUPPLY.
You will then receive a prompt in your Metamask/Trustwallet to confirm this.
Note: You need BNB for gas fee to confirm the transaction
Once you have successfully supplied GUILD and BUSD, PancakeSwap will state the number of LP (liquidity pool) tokens received in return.
In the example above you can see 14.6546 GUILD and 5 BUSD were provided to the PancakeSwap v2 Liquidity Pool. This gave back 8.5248 LP tokens which represents 0.001978% share of the total GUILD:BUSD pool.
Step 3: STAKING LP TOKENS
Go to our BSC Staking Page: https://bsc.blockchainspace.vault.inc/#/
You can either use Metamask or Wallet connect.
Note: Make sure that your wallet is connected via the BSC Network.
After connecting your wallet, click the “STAKE” button for the GUILD:BUSD LP Pool, seen in the bottom part of the page, under the Pools section.
You will then be redirected to the staking page. Here you need to choose the amount of LP tokens you want to stake (click max if you want to stake all LP tokens) and choose a Lock-up period that suits your needs. Locking tokens means you CANNOT WITHDRAW them for that period of time.
STEP 4: STAKING LP TOKENS
After you select the amount and lock-up period, it’s time to approve the transaction by pressing ‘Approve’.
IMPORTANT: The first time you click Approve means you allowed the protocol to ‘spend’ your tokens. THIS DOES NOT MEAN THAT IT IS STAKED YET!
This will prompt a notification from your Metamask/Trustwallet. Click approve. This will incur some gas fees.
After you have approved the contract to spend your GUILD:BUSD LP tokens, you have to make a second transaction to stake your tokens.
Now to Stake your tokens!
Click the “Stake” button so that your LP tokens will now be staked. Again, there will be a prompt in your Metamask/Trustwallet to approve the staking of the LP tokens. Just click approve. Again, this will incur gas fees.
After successfully finishing all the steps, you can check your staked pools in the Deposits section.
Congratulations!! You are now officially staking GUILD:BUSD in our staking vault!
In return, you will be receiving juicy $GUILD rewards.
Rewards will start accumulating right away!!
BlockchainSpace enables play-to-earn guilds to scale in the metaverse. We build tools to empower gaming communities and manage scholarship programs. We identify economic opportunities in games and connect guilds with gamers, game titles, and investors. We are empowering the next generation of play-to-earn gamers and guild owners to become successful entrepreneurs by equipping them with essential, scalable infrastructure, digital tools, financing solutions, and networking opportunities.
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