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Farming NFT
To get Currency NFT need to accumulate points.
This section will elaborate on the content related to Yield Farming (liquidity mining).
"Liquidity mining" in DeFi refers to the process of depositing or lending designated token assets as required through DeFi products with a mining mechanism to provide liquidity for the swap fund pool and obtain income. This may be the native token of the project.
On the FXBOX platform, deposit the FXB-BNB LP or FXB-USDT LP to increase liquidity for the pools. As a reward for providing liquidity, participants to get airdrop of Points.
Banks
Each BANK contract is a smart contract that automatically optimizes and delivers the best yield farming strategy for users across the Binance Smart Chain ecosystem. Users can stake their stable tokens or LP Tokens into the BANK contract. Each BANK contract has their unique optimized yield farming strategy through different DeFi protocols.
LP (Liquidity provider) usually be understood as a token certificate that the liquidity pool returns to the user when the user staked tokens into the pool.
At present, all LPs on the FXBOX platform are Pancake's LPs, and the LPs that provide liquidity on the pancake can be directly deposit on FXBOX.
Deposit two digital token for instance FXB/BNB into Pancake Swap's pool to obtain LP tokens, or add liquidity on FXBOX.
How to generate 1 unit of FXB-BNB LP?
Assuming that the price of BNB is 250 USDT and the price of FXB is 0.0001 USDT, when 1 BNB is provided, 2,500,000 FXBs are required.
- 1.All staked tokens will be converted to Points amount to determine the amount of Points airdropped daily.
- 1 point = 1 USD TVL/day (Points will be calculated every 1 hour, based on the current TVL of pool)
2. Users can yield farm by staking Pancakeswap FXB-BNB LP (BEP20) or FXB-USDT LP into FXBOX banks to obtain Points.
3. Each Bank Pool will be allocated a certain percentage of daily Points. Each user will be airdropped Points according to their weight in FXB-BNB LP pool.
5. FXB can be withdrawn any amount to a user's wallet.
$FXB/BNB or $FXB/USDT tokens pairs can be staked and farmed NFTs with reward points, which can be earned daily based on TVL pools.
Earning rate:
- 1 point = 1 USD TVL/day (Points will be calculated every 1 hour, based on the current TVL of pool)
- Net Protocol: BEP20 (BSC)
For now, you will be able to farm Common to Legendary currencies NFTs.
You can claim the desired NFT when the enough quantity of points is earned.
Common - 50,000 points
Uncommon - 100,000points
Rare - 200,000 points
Epic – 400,000 points
Legendary - 1,000,000 points
When withdrawing LP, a handling fee will be charged according to the pledge time, the specific values are as follows:
Your tokens can be withdrawn from BANK contracts at anytime. To prevent bad actors from gaming the system, Bank contracts have a tiered withdrawal fee depending on how long liquidity has been provided for.
Liquidity Time | Withdraw Fee |
7 days or less | 1% |
8 - 14 days | 0.7% |
15 - 30 days | 0.5% |
31 - 90 days | 0.3% |
91 - 180 days | 0.1% |
More than 181 days | 0% |
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Last modified 24d ago