BEPSwap is the Binance Chain version of Thorchain ($RUNE). Basically, it allows you to stake your token in BEP2 format (the ones you get on Binance Chain) into liquidity pools (pools that are used for each swap between 2 tokens. Liquidity Providers gets fees as incentive).
In order to do that, you will either need $RUNE and another token, or just the other token (can be PolkaDOT, BUSD, FTM, BTCB, ETH, … all tokens should be in BEP2 format).
In this guide, I will help you go through the whole process, so let’s get to it!
Warning: Only invest what you can afford to loose in Cryptocurrencies
But, Why should I do that?
Well, first, the money. Here is a quick idea of the financial benefits:
I added 906.90 BUSD on the platform 11 days ago. This amount was split 50:50 with $RUNE token. Since then, I received ~20$ fees and the tokens gained ~170$.
The LP vs HODL percentage represent the value earned in Liquidity provider vs just HODLing it. The APY gives an estimation of the yearly benefits.
Not bad, huh? Well, it gets better: RUNE (and Thorchain) are building something truly amazing and wonderful: a cross-chain exchange. What is that? It’s a way to exchange tokens natively: from ETH ERC20 to BTC, from native BitcoinCash to BNB, from BEP2 BUSD to anything … really!
This is a huge improvement in the crypto world, or at least, in its decentralized approach: no need to go in a centralized exchange anymore! Awesome! Game changing!
Ok, how can I do that?
Let’s start with the basics: BEPSwap works with WalletConnect / Ledger (hardware wallet) or by uploading a keystore file. I will use WallletConnect through TrustWallet.
Use your phone > go in your favorite app store > search for “Trust Wallet” > install > set up your first wallet or import an existing one.
TrustWallet is my main wallet when it comes to DeFI, BSC, and others action related to crypto. It’s a great app, works perfectly fine, and provide you with a huge list of tokens!
So, now that you have a WalletConnect capable wallet, you can go on BEPSwap, click on “Add Wallet” (in the top right corner), select “WalletConnect” and finally click on the QR code button.
Doing that will display a QR code on your computer screen. Now, go in your TrustWallet app on your mobile, select “Settings” on the bottom right, and use the “WalletConnect” feature of TrustWallet.
At this stage, the phone will open the Camera and will wait for you to snipe the QR code displayed on BEPSwap.
After successfully doing so, TrustWallet will freeze for ~10–20 seconds. It’s normal. It will ask you to confirm association with BEPSwap.
Click “approve”, wait a few seconds, and your computer screen should refresh automatically with your connected wallet.
Now, every time you’ll do an action on BEPSwap, a popup will appear in TrustWallet on your phone to ask you for a confirmation. Just confirm, click “ok”, and it’s all good.
Note: if you get some “an unknown error occurred” pop-up in TrustWallet when browsing BEPSwap website, it’s a known bug: no impact on your finance / wallet / actions. Just click on “ok” on the pop-up message and it will go away.
So now, you should see your computer’s browser that will be on the different pools available to stake your tokens, with your wallet connected.
Staking token
For this step, I have some BTCB (Binance pegged BTC) available that I will stake on BEPSwap. When staking 1 asset (in this case, BTCB), BEPSwap will divide your supply into half $RUNE, half your asset.
This means that you will “buy” RUNE with half of the asset you want to provide! Check the RUNE rate before jumping in, and DYOR, and not financial advice, and blabla …
Note: If you don’t see your Token in BEPSwap, remember to switch to Binance Chain (BEP2). You can switch almost all assets from TrustWallet by clicking on “more” > “swap to Binance Chain”
When your token are ready, head to your “connected” browser on BEPSwap and search for your token (in my case, BTCB) then click on “manage” at the end of the line.
You will see a window with 4 parts: single asset, pair asset-rune, withdraw, share. Clic on the first tab, slide for the amount you want to supply, then drag to add onto BEPSwap. You’ll be asked to validate the transaction on your connected TrustWallet.
And that’s it! You can now see your share on the “Share” tab (note how the amount provided has been divided in 2 parts, BTCB and RUNE).
Note: If you don’t see your participation, don’t panic, just click on the top-right “sync” wheel to refresh the information.
I hope you liked this guide / tutorial, clap if you liked it, subs if you loved it!
My BNB Address (if you want to deposit some coins XD): 0x0451864cdd0cb179893EB91057dA7746B5b1973B
My Binance referral link: https://www.binance.com/en/register?ref=RUERPAKG
Check my other guides: https://fatheroftwinsjp.medium.com/
