With the successful launch of CAKE-BNB yield farming in October, CrowdSwap officially stepped into yield farming on the BNB Smart Chain (BSC) network. To expand this successful journey onto BSC, CrowdSwap is adding three new pairs of tokens. These pairs are CAKE-USDT, CAKE-BUSD, and BUSD-BNB. These pools have a remarkable total value locked (TVL) of over $200M. Let’s see what inspired us to add these new farms.
Most yield farming pools require the user to conduct more than one transaction. Imagine you have some ETH and want to earn on a CAKE-BUSD farm. To do so, you need to first swap your Bitcoin for CAKE and BUSD in two separate transactions. Then you have to add the two tokens to the pool and receive liquidity pool (LP) tokens in another transaction. The last step would be to add the LP token to the staking pool.
Conducting all these transactions manually has some drawbacks. For one, exposing your wallet to more than one crypto exchange platform can undermine the security of your assets. What’s more, if you make a mistake in the process, it may cost you the loss of your hard-earned crypto. In addition, the time spent and the cost of these processes can be high. But CrowdSwap is here to ensure that all of these concerns are eliminated, showing you how easy investment in decentralized finance can be.
The Solution: Easy, Secure, Fast
For those familiar with CrowdSwap, it is no surprise that yield farming in the crypto space can be super easy on our platform. CrowdSwap offers magnificent solutions for entering the world of DeFi. We facilitate the processes while considering less complexity and lower risks. By reducing the number of transactions, multiple risks can be mitigated.
Risks such as making a mistake in the process of a transaction, the slippage issue, and being hacked can well be coped with by decreasing the user actions. In addition, CrowdSwap can conduct transactions across separate blockchains. Taking advantage of CrowdSwap’s cross-chain feature, you don’t need to have tokens of that particular blockchain beforehand. Rather, regardless of the blockchain network, your assets are on, you can participate in any opportunities with the click of a button.
How to earn on BSC farms?
The main aim of CrowdSwap is to make the entrance to the world of DeFi easier and more pleasant for everybody. For this reason, we have integrated the BSC network into our services. In order to use these services, you will first need to add BSC to MetaMask using the tutorial in this link.
After you have prepared your wallet, head to the ‘opportunities’ section of the CrowdSwap App. On the page, you can find the options that are currently available to you. At the time of writing this article on Nov. 10, 2022, four liquidity pools are offered on the BSC network: CAKE-BNB, CAKE-USDT, CAKE-BUSD, and BUSD-BNB with various interests.
Based on your preference and investment goals, you can choose one of these pools to participate. To take part in each of these LP farms, you only need to hit the ‘invest’ button, and CrowdSwap will do the rest for you.
You asked for it, we responded
CrowdSwap pays attention to what its users want. After the positive feedback we got from our users for CAKE-BNB yield farming, CrowdSwap team decided to include other pairs of BSC tokens in its opportunities section. Now, our users can participate in CAKE-USDT, CAKE-BUSD, and BUSD-BNB farms.