TheForce.Trade Launches the V2 Staking Pool with Defina Finance!
TheFroce.Trade team is thrilled to introduce our V2 Staking pools to the community! And the first Staking pool that we’ve collaborate with is our strategic partner Defina Finance. The Defina’s LP staking pool is going to be alive at 2:00 p.m, UTC, October 25th on TheForce.Trade Defi platform.
This will allow our members to earn yield rewards through becoming a liquidity provider (LP) on Pancake Swap. If you are new to crypto, and are new to the concept of staking, we’ve provide a tutorial to help you get on board.
Staking Pool Info:
In total, we will have three pools:
Pool 1: $FINA-$BUSD Liquidity Pair
In this pool you will need to stake $FINA and $BUSD LP tokens.
Pool 2: $FINA-$BNB Liquidity Pair
In this pool you will need to stake $FINA and $BNB LP tokens.
Pool 3: $FINA-$FOC Liquidity Pair
In this pool you will need to stake $FINA and $FOC LP tokens.
Rewards: $FINA + $FOC token
- $FINA 0x426c72701833fddbdfc06c944737c6031645c708
- $FOC 0x3051CFb958dcD408FBa70256073Adba943Fdf552
- $BUSD 0xe9e7cea3dedca5984780bafc599bd69add087d56
*Please note: If you withdraw in advance of the fixed terms, it may change your rewards as below structure:
• If withdrawn within 7 days after deposit, you will not get any reward
• If withdrawn within 14 days after deposit, your reward will be calculated based on 15% of your full APY
• If withdrawn within 21 days after deposit, your reward will be calculated based on 40% of your full APY
• If withdrawn within 28 days after deposit, your reward will be calculated based on 65% of your full APY
• If withdrawn after 28 days after deposit, your reward will be calculated based on 100% of your full APY
What is a liquidity pool?
A liquidity pool is a collection of fund locked in a smart contract. Liquidity pools are used to facilitate decentralized trading to provide liquidating for cryptocurrency tradings. Users who provides the liquidity are called liquidity provider (LP), and he/she adds an equal value of two tokens in a pool to create a market. In exchange for providing their funds, liquidity providers will earn trading fees from the trades that happen in the pool, proportional to their share of the total liquidity.
How does a liquidity pool work?
Liquidity pools work with automated market makers (AMM), the automated market maker matches the trades with the liquidity in the liquidity pool. When you’re executing a trade on an AMM, you don’t have a counter-party. You’re executing the trade against the liquidity in the liquidity pool. For the buyer to buy, there doesn’t need to be a seller at that particular moment, only sufficient liquidity in the pool.
Risk of liquidity pools
Providing liquidity to a pool doesn’t come without any risk, there is a concept called Impermanent loss. Impermanent loss is when you provide liquidity to a liquidity pool, and the price of your deposited assets changes compared to when you deposited them. The loss means less dollar value at the time of withdrawal than at the time of deposit. Impermanent loss happens when the price of the assets in the pool changes. The more volatile the assets are in the pool, the more likely it is that you can be exposed to impermanent loss.
Below is also a good video to learn about imepermanent loss:
What are LP tokens?
LP tokens represent a crypto liquidity provider’s share of a pool, and the crypto liquidity provider remains entirely in control of the token. The LP tokens are your claim to your share of the pool’s assets. Holding these LP tokens allows you total control over when you withdraw your share of the pool.
We highly suggest you to learn more about Defi before you choose to become a liquidity provider , and you should always DO YOUR OWN RESEARCH!
After you know all the ins and outs of liquidity staking. Let’s get started!
FINA LP Staking Tutorial
- To earn the liquidity provider rewards, you need to go to https://stake.theforce.trade/
- Connect your wallet using your wallet provider such as: MetaMask.
The wallet for demonstration is already connected on BSC Mainnet and it has 20$FINA in the wallet.
3. Choose your preferred pool and click on stake.
The example here is going for the FINA-BNB pool, meaning that we are going to provide FINA and BNB to the decentralized trading pool.
4. After you click on stake you will see the following screen, click on add liquidity if you haven’t provided liquidity yet.
5. After clicking on add liquidity, PancakeSwap (decentralized AMM) will open.
Add how much you want to contribute to the pool and enable your FINA and WBNB for spend. After you have confirmed it in your, the “supply” button will be clickable.
6. After clicking supply you will get a confirmation screen where you need to confirm the transaction.
7. Now you will get LP tokens in exchange for your liquidity. These tokens can be staked on TheForce.Trade site which will give you additional rewards [Defina is providing the rewards to the LP providers besides the the trading fee you get from Pancake Swap by providing liquidity.]
8. Now you will go back to TheForce.Trade site [Step 1]. Slide to how many LP tokens you would like to add and click on approve. Which you have to approve in your wallet application.
The example above choose to deposit all of the LP tokens [0.21 FINA-BNB LP shown in the pic].
9. After you approve in your wallet application you will see the button stake, click on this and confirm once again in your wallet application.
10. That’s it, you now have successfully staked your LP tokens!
TheForce.Trade is a data aggregator platform that utilizes customizable smart contracts to simplify the investment process for DeFi and NFT users of all levels. The platform provides users with all the data and automation tools they need to maximize returns from yield farming and NFT collections. More specifically, the platform offers services including yield aggregator, exchange aggregator, auto-compounding yield farming, NFT drops, NFT Mystery Boxes, NFT farming and lending.
About Defina Finance
Defina Finance is a fascinating blockchain game that combines the concept of DeFi and NFT. Players are able to buy or collect various NFT Mystery Boxes to get heroes & weapons as well as fight and enhance their characters to learn skills in numerous game scenarios. Players can participate in DeFi yield farming and earn abundant on-chain earnings while enjoying a fun and strategic card game with PVP and PVE modes. Defina’s vision is to bring blockchain to millions of players, allowing them to explore a new form of gaming through blockchain technology.
Join our journey today!