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TRIBEX BUSD LP
As you probably already know, liquidity is one of the most important aspects in a project. For this reason, we have made the decision to open a liquidity farming pool for the TRIBEX BUSD pair.
The text consists of two parts:
1. How to provide liquidity to the TRIBEX BUSD pair
2. How to participate for FREE NTFs
1. How to provide liquidity to the TRIBEX BUSD pair
🥞 PancakeSwap - A next evolution DeFi exchange on Binance Smart Chain (BSC)
(Link to TRIBEX BUSD PancakeSwap Liquidity Pair)
Since the main liquidity pair is TRIBEX BNB, Why TRIBEX BUSD LP?
Anyone who has ever done farming knows that two volatile token farming is just that: twice volatile. Since the liquidity pair will take into account the price of TRIBEX on the one hand, but also the price of BNB on the other. A very simple and safe solution is farming from a volatile currency and a stable currency. What this does is that our variation is only of a single factor, the volatility, since the stable one will always have the same value.
The liquidity pairs of one token feed the other pairs of the same token as well. Let’s imagine that 100% of the liquidity is in TRIBEX BNB; This means that the swap between TRIBEX and BNB is the one with liquidity. But what if we want to swap from BUSD to TRIBEX? Very simple, the Automated Market Maker (AMM) will make a first transaction from BUSD to BNB and then from BNB to TRIBEX.
Example as of 11/24 from 1000 BUSD to Tribex
As additional data, you can see that liquidity providers charge a commission for each transaction that is made.
How can I become a TRIBEX liquidity provider?
In order to be a TRIBEX BUSD farmer the process is very simple. First of all we will need the same amount of money in TRIBEX as in BUSD. That is, if we want to contribute 1000 BUSD, we will need 5000 TRIBEX (Taking a price per token of 20 cents).
Next we will go to PancakeSwap, click on the “Trade” tab and then on “Liquidity” (Or we enter this link pancakeswap.finance/liquidity).
In this step we will simply select TRIBEX and BUSD. When we try to enter one of the two values (TRIBEX or BUSD) the system will return the value set by the market.
The easiest solution for this process is to select “MAX” of the token that we have the least. That is, if we have less money in TRIBEX than in BUSD, we simply press “MAX” in TRIBEX and it will show us how much is the maximum that we can provide.
Next, if our wallet has never interacted with one (or both) of the tokens, it will ask us to approve said contracts. The only thing we will have to do here is press the button that appears with the format “ENABLE (TOKEN)” and approve the transaction.
Once the pending contracts have been approved, all that remains is to press the “SUPPLY” button and confirm the transaction.
Once the transaction is confirmed in the block explorer, a new box will appear that will look like this:
Example providing 1000 BUSD
2. How to participate for FREE NTFs
We have reached the part that we have all been waiting for: How to get FREE NFTs ⭐️
If you have already assembled your TRIBEX BUSD LP, the process that follows is extremely easy; the only thing we will need to do is deposit them in a contract. To deposit our TRIBEX BUSD LP we have to go to Tribe (tribetoken.app) and click on “Enter Application”, then on “Staking” (which by default we will get there) and look at the card called “Liquidity Farming: NFT Airdrops”.
Then we will click on “Unlock Wallet” and connect our wallet to the website. The next step is to click on “ENABLE” and accept the transaction from our wallet.
As a last step, we simply press the STAKE symbol (“+”) and we will put “MAX” to deposit all our TRIBEX BUSD LP. Finally, after approving the deposit, we will see a pool displaying our deposited TRIBEX BUSD LPs.
Although the pool and all the announcements regarding this already say so, your LPs will be locked for 30 consecutive days. The only thing left to do now is to try to stay in the top holders, wait for the next NFTs launch and receive our FREE NFT!
Last modified 5mo ago