BurgerSwap has announced its new partnership with MultiVAC. This will bring a $MTV farming pool to Burgerswap and enable the staking of $MTV – $Burger LP (BLP) tokens to yield rewards in $MTV and $Burger.
BurgerSwap and MultiVAC Partnership Explained
The significance of this partnership means that users will now be able to stake BLP tokens into the $MTV farming pool. Users will be given 14 days to farm 2,000,000 tokens which will run from the 21st of April 2021 at 16:00(UTC+8).
Below are the details of the partnership.
MTV Farming Pool
Reward Token: MultiVAC (MTV).
Total Rewards: 2,000,000 MTV and BURGER.
Farming Period: 21st April 2021 – 5th May 2021. From 16:00 UTC+8.
Supported BLP Tokens: USDT-MTV, MTV-BURGER.
How Can I Stake Burger LP Tokens and Earn Rewards?
In just three steps, you can learn how to earn rewards by staking your BLP tokens. However, for this to happen, your wallet needs to be connected to BurgerSwap, and it should be on the BSC network. You must have enough BNB in your wallets to cover up gas fees. If you have done this, then you are good to go. Now, here are the steps to take to stake and earn.
The first step is to purchase BLP tokens. To get BLP tokens, users have to visit BurgerSwap. Then choose “Trade,” and navigate to the “Liquidity” tab; then select V2. The reason for this selection is because only V2 LP tokens can be used for farming. Click on “Add Liquidity.”
As shown in the image above, select MTV and BURGER. To do this, MTV and BURGER first need to be approved on your wallet. Then after choosing both tokens, click on “Supply” to confirm the transaction. If the first step is correctly done, there will be no problem getting the MTV-BURGER BLP tokens.
This is where you get to stake your BLP tokens to farm on BurgerSwap. To do this, navigate to the “Farms” tab, click “Approve” so that there is access to your MTV-BURGER BLP tokens. Click “Stake,” then enter your amount and confirm the transaction. Source
The final step is the process of harvesting your rewards and is very straightforward. All you need to do is click on the “Harvest” button to claim all MTV and BURGER earned and confirm the transaction on your wallet.
BurgerSwap is a DeFi protocol that is built on the BSC (Binance Smart Chain). It works as a Decentralized Exchange (Dex) that utilizes the Automated Market Maker (AMM) technology. Like PancakeSwap, BakerySwap, and many other protocols, BurgerSwap allows users to earn tokens because it is a liquidity provider.
MultiVAC is a very flexible blockchain platform that is based on dimensional sharding. The platform is built for the integration of large-scale decentralized applications. MultiVAC aims at developing the world’s first solution that offers speed and efficiency, as well as an all-dimensional sharding to expand its capacity in storage, transmission, and computation.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.