Liquidity farming carries tremendous potential and today we’re going to explain “How to Farm JULb Tokens on the Binance Smart Chain!”; With our Single Side Liquidity Farming Protocol you just need to provide one Currency.
1. Select your JustLiquidity Farming Pool
2. Connect you Wallet (Binance Smart Chain Network)
3. Click Add Liquidity
4. Enter the amount which you’d like to provide
5. Approve your first Transaction and then click Supply
6. Confirm Supply
7. Redeem your earned Interest and Deposit
8. Enter the Output Number & Click Remove
9. Confirm your Withdrawal
How often can you withdraw your interest and your Deposit?
You can withdraw your earned interest and your deposit 24 hours after your last interaction with the Smart Contract. When you make a deposit or a withdrawal, then you need to wait minimum 24 hours.
How often do you get interest?
The interest payment will be daily up to 0.4% and 24 hours after your last interaction with the Smart Contract based on the Farming Pair.
How do we pay the interest of up to 0.4% per day?
1. When people trade on JulSwap or Uniswap, then the fee from 0.3% will be distributed to the Liquidity Providers. So when people trade, we generate income (Liquidiity provider is mainly our Protocol) .
2. Whenever the JUL/JULb token price increases the Protocol gets more Liquidity, so there is more Liquidity available to payout the daily interest!
Sample Calculation for Number 4:
Uniswap pool for JustLiquidity
— — — — — —
Example initial liquidity: 900 ETH / 900 JUL
-> 1 JUL = 1 ETH
User Bob deposits 100 ETH
-> protocol pairs his 100 ETH with 100 JUL from reserve (not from Uniswap)
-> protocol adds liquidity to Uniswap 100 JUL / 100 ETH
-> Uniswap pool liquidity now: 1000 JUL / 1000 ETH
-> Bob’s deposit represents 10% of pool
-> other users trade ETH for JUL which cause 1 JUL = 2 ETH
-> Uniswap pool liquidity now: 1500 ETH / 500 JUL
-> Bob’s liquidity was 10% of pool so now his liquidity represents: 150 ETH / 50 JUL
-> Bob can now easily be paid 0.2% interest for that day because his ETH share is much more than 0.2% increase
How often can the daily interest be changed?
The daily interest can be changed always from the protocol owner. Important Sample: When you deposit 10 JULb and you earned 1 JULb as interest which you did not withdraw so far, and the interest changes from 0.4% to 0.2%, then your already earned but not withdrawn interest goes down from 1 JULb to 0.5 JULb. Our suggestion, withdraw your interest as often as possible.
Why did we integrate such a Solution? We added this option because we pay part of our interest based on the Trading Volume; which means more trading volume increases the possibility for higher interest!
Will I earn interest for my already earned interest as well?
No, there is no Compound Interest!
Do we have some integrated Fees?
Most Liquidity Protocols have an integrated Deposit Protocol Fee of 0.1% from the deposited amount and a 0% withdrawal Protocol fee. The percentages might vary from Protocol to Protocol. You always pay the normal transaction fee from the Blockchain.
DeFi & Crypto Risk Disclosure::
Farming Liquidity into a liquidity pool and becoming a farmer is not risk free. When the market price of tokens fluctuates greatly the farming income may be lower than the income of ordinary holdings and losses may occur as well.
JustLiquidity does not provide legal, financial or tax advice of any kind. If you have any legal financial or tax issues related to your interaction with Cryptocurrencies and JustLiquidity. You should consult with your specialists.
You should also be fully aware that investing in digital assets (in this case, cryptocurrency) is a risky activity and can bring not only profits, but also losses. JustLiquidity does not guarantee profit and warns of the risk of loss of deposited Currencies.