Yielding 10% Monthly
How to farm BNB in 2022? If there is BNB on your balance, you can take part in the
BNB-HUB pool's farming program. The terms are:
- Return: 10% per month (or 120% in APR)
- Extra reward: 0.2% on all trades made within the pool (fees)
- Protection against Impermanent Loss in place (learn more)
First of all, you'll need a Minter address. In case you don't have one already, you may create it in Minter Console:
- Generate a new address
- Save a 12-word seed phrase somewhere private. This phrase grants access to your funds, so never share it with anyone
- Sign in to your wallet using the passphrase you just got
You'll need to deposit BNB tokens to your Minter address next. For example, let's take a look at BNB withdrawal from Binance. Since a centralized exchange-based wallet doesn't belong to you, for future decentralized operations with your tokens, you'll need to set up your very own, personal address on BNB Smart Chain. For that:
- Install any credible wallet supporting BNB Smart Chain, e.g., Trust Wallet
- Generate a new address or log in with the same one as in Minter. To do the latter, enter the seed phrase you use with Minter. Inside the wallet:
I already have a wallet –> Smart Chain –> Enter seed phrase –> Import
On Minter, an address starts with
Mx..., while on BNB Smart Chain, with
Now you can withdraw BNB from an exchange, e.g., Binance.
- Go to BNB withdrawal page
- Select address that you use with the BNB Smart Chain (Trust Wallet)
BNB Smart Chain (BEP20)network
- Confirm withdrawal
Once your BNB has arrived to your personal Trust Wallet (on BSC), you'll need to move it to the Minter network:
- In Minter Console, go to the DEPOSIT & WITHDRAW section
- In the deposit form, sign in via the Trust Wallet app's WalletConnet feature
- Specify the recipient address (the one you've logged in to Minter Console with is used by default)
- Select the
BNBtoken and enter the necessary amount or USE MAX
- Now you have to unlock the desired amount to be used by a smart contract (if you don't want to repeat this operation in future, check the Infinite unlock box). Press Unlock and confirm the unlock transaction in Trust Wallet
- Once the Approve transaction has enough network confirmations, you'll see the unlocked amount available for deposit in the corresponding section of Minter Console. The only thing left to do is click Send
After the transaction has been confirmed by the network and the Minter Hub bridge, its status will change to
Success on the list of transactions. Congrats! The BNB tokens are now readily available on your Minter Mx address.
How to Yield Farm BNB in 2022
To join the BNB-HUB pool, you need to hold both tokens,
HUB, in the same amounts—i.e., 50/50%. That's why you need to swap the necessary number of
- In Minter Console, go to the SWAP section
- Fill out the SELL COINS form with
BNBas the coin to sell, and
HUBas the coin to buy
- Specify the necessary amount of
BNB(for example, the half)
- Confirm the swap by pressing the button after verifying all the data (including the rate)
HUB rate can be checked on the pool's page.
The final step—and the ultimate answer to the 'How to farm BNB in 2022?' question—is supplying both tokens into the pool:
- In Minter Console, go to POOLS
- Fill out the ADD LIQUIDITY TO SWAP POOL form
- The first coin:
- The second coin:
- Enter the necessary amount for either of the tokens. The amount for the other one will be fetched automatically
Double-check everything and Add.
Upon providing liquidity to the pool, your position will appear on the list on the POOLS page of Minter Console.
Starting now, you'll be automatically getting rewards at 0.34% every day (10% a month or 124% a year). The more coins you add to the pool, the bigger the reward.
The farming program's page with all info is live at chainik.io/yf/328.