Our platform token BTR is now available on Binance Smart Chain, and is trading on PancakeSwap. We know that the world of DeFi can be quite intimidating and confusing, so we have prepared this handy tutorial to show you how everything works.
In this guide we will cover:
- How to set up a MetaMask wallet
- How to purchase BTR (BSC) on PancakeSwap
- How to obtain BTR-USDT LP tokens
- How to stake these tokens on FinNexus to receive further rewards.
1. Setting up a MetaMask wallet
MetaMask is a convenient cryptocurrency wallet that can be used directly in your browser, or as a dedicated app on your smartphone. Most importantly, your MetaMask wallet can easily be linked with your PancakeSwap and FinNexus accounts.
Setting up your wallet couldn't be easier, just go to https://metamask.io/ and click on "Download". For the purposes of this tutorial we will be using the browser extension version of the wallet on Google Chrome, so we will select "Chrome" and then "Install MetaMask for Chrome".
On the subsequent page select "Add to Chrome" followed by "Add extension".
When it has been downloaded a new tab will open automatically - just follow the onscreen instructions to finish setting up your wallet. Remember that it is VERY important to record your mnemonic phrase accurately, you do not want to risk losing your future millions.
2. Purchasing BTR on PancakeSwap
Now that your wallet has been set up, you need to connect it to PancakeSwap. Head to their website and then select "Connect" in the top right corner https://pancakeswap.finance/.
Select MetaMask from the menu that appears, and then a MetaMask popup will appear, asking you to select and authorize the wallet that you want to connect. You will then need to fund your wallet from an outside source. (Please note: Bitrue currently does not support BSC USDT. Please do not send any USDT from Bitrue to a BSC wallet - it will be lost and cannot be retrieved.)
You can now purchase the BSC form of BTR. Click on "Trade" - "Exchange", and then "Select a Currency".
In the window that appears you will need to specify the contract address of BTR on BSC, so copy and paste the following address: 0x5a16E8cE8cA316407c6E6307095dc9540a8D62B3
You will then see BTR show up, like so:
Click on "Add". BTR will not be listed in your dropdown list of supported assets. Just add USDT as the other asset to be used in the swap, and then you can complete a trade of USDT into BTC on PancakeSwap!
3. Obtaining BTR-USDT LP Tokens
You may already be aware that PancakeSwap is a decentralized autonomous market maker - which means that it's not controlled by any one entity, and it also allows any two coins to be swapped for any other two coins. This is only possible due to Liquidity Providers - users who place their coins on the dex so that they are available for other users to trade with. There are some key advantages to being a Liquidity Provider. First of all, based on the proportion of coins that you have provided, you will receive a percentage of the trading fees that are generated from that particular pool. In addition you will also receive a Liquidity Provider token which can be used in other contexts, such as DeFi mining.
In this guide we'll talk about how you can obtain a BTR-USDT LP token.
On PancakeSwap choose "Trade" - "Liquidity", or choose the "Liquidity" tab in the center. From here you will be able to add both BTR and USDT to the liquidity pool, as long as both of these coins are in your connected wallet.
It's as simple as that! Once you've added the tokens to the pool the BTR-USDT LP token will be automatically present in your account. It can be used to retrieve your BTR & USDT from the pool, or alternatively, you can use it in FInNexus' yield farming program.
4. Staking LP Tokens on FinNexus
Head on over to the FinNexus website and select "Buy Options". You then need to connect your wallet using the button in the top right corner, it must be the same wallet that you previously connected to PancakeSwap that now has your LP token inside. You will need to complete the same authorization process with MetaMask.
Once everything is connected, select "BSC" in the top-left corner, select the "CO-FARM" option in the center, and then look for the BTR-USDT LP option (Note: Not pictured here. For the rest of this guide we will show pictures of an alternative opportunity).
You can then press the "Deposit" button to enter your LP token into this Co-farming opportunity. Fill out the requested information and then select "DEPOSIT NOW"
You can then go back to the Co-Farming page at any time to take your LP token out or claim your rewards.