Hello everybody, today we will be showing how to use BCharity’s DeFi Platform. AKA Yield Farms! We have prepared a video to show how to stake the cryptocurrencies of your choice into our farms and pools!
https://www.youtube.com/watchv=3dtb6oWm33Q&ab_channel=BCharity
BCharity DeFi Website Overview
The very first section you see contains our project’s vision — you can read up on this by clicking the learn more button. Scrolling down, you will see two sections, namely Farms & Staking and News. Under Farms & Staking, there are two tabs which shows how many GIVE Tokens are available for harvest and how many GIVE Tokens are in your wallet currently. There is also a harvest button for your convenience.
Beside Farms & Staking is a News section which contains everything BCharity’s twitter posts including reshares. Below that contains GIVE Stats and Total Value Locked. GIVE Stats contain Market Cap (Maximum amount of money per token), Total Minted (Total amount of Tokens right now), Total Burned (Burned Tokens), Circulating supply (Amount of Tokens bought/in use), Maximum supply (Max amount minted), New GIVE/block (Amount of tokens you can get per block of currency). Total Value Locked is the total amount of money being circulated in the form of tokens. (Amount of tokens in use x price per token = total value locked)
At the very bottom of the page, there is a bubble showing the amount of APR you can earn in farms (1,224% at the time of this video). This will be explained later on.
Swap Feature
In order to obtain GIVE tokens for yield farming, one has to first buy a token and convert it to GIVE using Quickswap. In order to do this, we will go to the trade option on the BCharity sidebar. Once you open the dropdown menu, click on Swap (Quickswap). On Quickswap, you can click on the feature at the top of the page. Here you can change your choice currency to MATIC or any other cryptocurrency that you are interested in.
Once you have your cryptocurrency, you can use the Swap feature to swap it for GIVE tokens in order to start staking GIVE!
Liquidity Feature
The liquidity feature on the BCharity website is similar to the swap feature. However instead of swapping tokens, the liquidity feature takes two cryptocurrencies and generates a LP token in return. For example, in order to stake in the GIVE-USDC-LP farm on the BCharity website, one must generate a GIVE-USDC LP token in Quickswap. To do this, click on the Liquidity (Quickswap) button on the left-hand side of the page. Select GIVE as the first cryptocurrency and add the second cryptocurrency of your choice. Currently, BCharity only has USDC,W-MATIC and Quick as Farm options but more will be coming soon!
Farms Tab and Features
The farms tab is where you can earn GIVE tokens by staking LP tokens. Currently, you have to stake LP tokens for the GIVE and USDC, WMATIC or QUICK pairs on Quickswap. As you can see, there are no required deposit fees so you can start profiting once you stake your LP tokens without having to wait to break even. For this example, we will look at the GIVE-WMATIC-LP pool; everything said will also apply to the other pools. You can provide liquidity by obtaining some GIVE-WMATIC-LP tokens. To do this, click on “details” and then “get GIVE-WMATIC-LP” which will take you to Quickswap. You will have to provide the same amount of GIVE and WMATIC in the value for this transaction. Enter in the amount you want, click “supply”, confirm the transaction, and now you should have some LP tokens. To stake these LP tokens, go back to our site, click “stake LP” and select the amount you would like to stake into the pool. If you want to adjust the amount of LP tokens you put in the pool, you can click the plus and minus signs beside the amount you staked. To withdraw the GIVE you earn to your wallet, just click “harvest”.
Pools Tab and Features
In the pools tab you can stake any type of token (WETH, WBTC, WMATIC etc.) to earn GIVE tokens. Similarly to the Farms tab, your profit is also determined by APR. The Difference between Pools and Farms is Fees. BCharity will charge a 3% Deposit Fee on all non-$GIVE tokens staked in our pools
- ⅓ goes to burning vault
- ⅓ goes to direct burning
- ⅓ for funds allocated to marketing and development
Thanks for reading and as always, happy staking!
-BCharity Marketing Team
