LP Farming is Coming to $afeID: Here’s Why It Matters
As a utility-first token, $afeID has always been about offering real-world services to our users. So far, we’ve achieved this by putting skin in the game and offering all our services in exchange for $afeID exclusively.
Now, some of you have fallen in love with the $afeID token, and we think it’s time for us to give some love back to our community. As of today, we’re launching $afeID LP farm on Pancakeswap.
In case you’re out of the loop with what yield farming is, let’s do a quick primer before we dive into the need for $afeID LP farms.
What Exactly is LP Farming?
Let’s look at how trades happen on a DEX like Pancakeswap. For someone to buy a token like $afeID, someone else must be willing to sell their holdings of the same token and willing to buy the WBNB token in exchange for it.
As you can imagine, emerging tokens don’t have a ton of liquidity to start with, thus leading to a stifling environment for young tokens. This is where liquidity pools come in to save the day.
A liquidity pool contains a pair of tokens. For example, $afeID and WBNB are the two tokens of our liquidity pool. People can contribute to a liquidity pool by depositing both of those tokens to facilitate trades.
This way people can buy and sell $afeID in exchange for WBNB, and vice versa.
The liquidity pool charges a transaction fee on every buy/sell signal within that pool. And those charges are distributed proportionally to all the liquidity providers within that pool.
So if you deposit $1,000 worth of liquidity in a pool with the locked value of $10,000, you own 10% of the pool. As a result, you will get roughly 10% of all the revenue that the liquidity pool will generate through transaction fees.
With that clear, let’s look into why you should invest your hard-earned money into the $afeID liquidity farm.
3 Reasons to Invest in $afeID Liquidity Farm
With our liquidity farm available on Pancakeswap, you can now invest your crypto holdings into a utility-first project. But that begs the question, why should you invest in this farm in the first place?
Instead of one good reason, let’s look at three.
1. Earn Passive Dividents
Let’s start with the biggest reason. By providing liquidity to the $afeID pool, you’ll earn passive dividends just for holding your stake within our pool. We have one of the most competitive APY yields out there.
This way you’ll get small but steady rewards every step of the journey, instead of waiting for that magical crypto moonshot at the finish line that may never arrive.
Let’s face it. Cryptocurrencies are volatile assets. No one can guarantee you 10X returns. But with yield farming, you’ll at least earn a safe return on your investment every day.
2. Contribute to a Utility-First Project
In a world full of memecoins whose ultimate contribution is a mix of jokes and random price action, there’s a scarcity of tokens with real-world utility.
You can make a big difference by investing in our LP farm, as your investment will help make $afeID an attractive token for newcomers and veteran traders alike. Liquidity is the lifeblood of any decentralized token.
Look at it this way. Your contribution will have a direct impact on the future of $afeID, and consequently, the future of all your $afeID holdings too. The more this utility-first token succeeds, the more your portfolio will grow too!
3. Say Goodbye to the Headaches of Active Trading
Every study into the success of active traders shows that it’s more art than science. Even veterans with a lifetime of trading experience cannot time the market without fail. So for a retail investor like yourself, the best strategy is to find projects with strong fundamentals and then hold tight.
Of course, following that advice is easier said than done. But what if you got passive rewards for holding instead of active trading? With LP farming, it becomes a lot easier to say goodbye to day trading and all the headaches that come with it.
Instead, you get to sit back, relax, and watch your portfolio grow steadily in the short term as you wait for that lucky break in the long term.
Click here to visit our LP Farming Pool!
$afeID LP Farming
Liquidity Provider Rewards Program
Become a $afeID Liquidity Provider on PancakeSwap and get extra rewards! Very high Annual Percentage Rate depending on the exchange rate and the size of the stake pool, will be distributed to liquidity providers who add to the $ID/WBNB Pair on PancakeSwap, and then stake those LP tokens here. Participants in the Rewards Program gain rewards based on their percentage share of the overall stake pool, with all of the rewards supply split between the participants.
Schedule & Incentives
Program starts: December 15th, 2021
Duration: min. 1 Year
Liquidity Pool: $ID/WBNB
Blockchain: Binance Smart Chain
Click on the button below to start staking!