BiFi Pooling service rewards users who add liquidity to BFC-ETH and BiFi-ETH pools on BiFi. When you add liquidity to BFC-ETH and BiFi-ETH pairs on Uniswap, you will receive Liquidity Pool (LP) Tokens in return. Deposit these LP Tokens on BiFi Pooling and you will receive BiFi Tokens as a reward. You can withdraw the LP Tokens from BiFi and redeem this on Uniswap to get your liquidity back (plus your portion of the 0.3% swap fee accumulated in the pool).
Why is BiFi rewarding me when I deposit BFC-ETH and BiFi-ETH tokens on Uniswap?
Uniswap is a decentralized exchange (DEX) that allows you to swap (trade) ETH for BFC and/or BFC for ETH. For people to trade BFC and BiFi on Uniswap, there must be enough liquidity in each BFC-ETH and BiFi-ETH pools. That way, users are able to trade BFC and BiFi with their ETH on Uniswap whenever they want! As a token of gratitude, we have created our own Pooling service to reward users who provide liquidity for our tokens.
Click the MetaMask extension on your browser and set the network to Ethereum Mainnet. Then set BiFi to Ethereum Mainnet.
BiFi supports both Ethereum and BSC mainnet. If you set BiFi to Ethereum Mainnet, but have your MetaMask set to a different network, you will see an error. Make sure you set the same network for both MetaMask and BiFi.
2. How to migrate your LP tokens to SushiSwap
To continue earning rewards on your Uniswap LP tokens, you will need to withdraw your Uniswap LP tokens and migrate them to SushiSwap liquidity.
3. To add liquidity, input the same amount of ETH and BFC. Then, click Approve BFC.
4. Click Confirm on your MetaMask.
5. Click Confirm Adding Liquidity.
6. Click Confirm Supply.
7. Adding liquidty to SushiSwap will incur Ethereum gas fees. Click Confirm on your MetaMask to confirmspending the gas fees.
8. Transaction has been submitted. You can view the transaction on Etherscan by clicking View on explorer.
9. Once the transaction is complete, ‘Add ETH and BFC’ will appear on the top right corner.
You are now ready to deposit SLP tokens on BiFi Pooling. Go to app.bifi.finance/pool and start earning BiFi rewards!
4. Depositing LP Tokens in BiFi Pooling
After you have received SLP Tokens from SushiSwap, you can now deposit them into BiFi Pooling service. If this is your first deposit, you must approve the token first on BiFi.
Gas fees are required to activate the token. This step needs to be done only once.
5. Depositing tokens in BiFi-ETH on SushiSwap
In addition to the BFC-ETH pool, SushiSwap also has a BiFi-ETH pool. The same process goes for depositing BiFi-ETH LP Tokens as BFC-ETH SLP Tokens. Provide liquidity in the SushiSwap BiFi-ETH pool, deposit LP Tokens on BiFi, and get BiFi Token rewards!
6. BFC-ETH Pooling Page Overview
BFC-ETH Liquidity Provider Earnings
BiFi Pooling was created to reward users who provide liquidity in the BFC-ETH and BiFi-ETH SushiSwap pool. When users deposit the LP Tokens they receive from providing liquidity on Uniswap, BiFi rewards BiFi Tokens in return.
Number of BFC-ETH LP Tokens currently deposited in BiFi Pooling
Number of BiFi Tokens to be distributed in a given week
Estimated Annual Percentage Yield (APY) of BiFi Tokens on BiFi