What is BEPSwap?
BEPSwap is a layer-2 DeFi application for Binance Chain allowing any BNB or BEP2 holder to be able to swap BEP2 tokens instantly from their wallets. Users will also be able to stake their assets in liquidity pools to earn trade commissions.
BEPSwap is THORChain’s first go-to market liquidity pool platform, and can be described as UniSwap for Binance Chain. It allows anyone to swap tokens at market prices that are resistant to manipulation. Swapping of assets are done by sending them into pools containing RUNE & BEP2 tokens. Commission is earned by anyone who stakes their assets on liquidity pools. Each trade on the pool earns a commission which you can later claim.
Important:
BEPSwap is still currently on ChaosNet(Beta). Swapping or staking large amounts of tokens is not recommended. Proceed at your own risk.
Trust Wallet Token is the first BEP2 non-pegged asset to be listed on BEPSwap.
Are you ready to try out BEPSwap?
Here is what you need:
- Trust Wallet app on your mobile device
- Another device with an internet browser
- Tokens to swap or stake like BNB, BUSD and TWT
- BNB and RUNE tokens for fees
Connecting to BEPSwap
Open on your internet browser, https://chaosnet.bepswap.com.
Tap on Add Wallet to see the options on how to link your wallet to the site.
Choose Wallet Connect. Click on the QR code box to start the connection process. A QR code will appear.
Open Trust Wallet app. Go to Settings, tap on WalletConnect.
Scan the QR code on your browser. Then tap on Connect.
You have successfully linked your Trust Wallet to BEPSwap.
On the internet browser, you will see your BNB address and the BEP2 tokens on it.
Swapping on BEPSwap
Go to the active pools and choose the token you want to Swap. For this guide, we will try to Swap some TWT to BNB. Tap on Swap to proceed to the next screen.
Indicate the amount of TWT you want to swap. Then drag the slider to the right.
A notification window will show on the internet browser.
Tap on OK on the confirmation screen that appears on the app.
Wait for the transaction to complete.
Confirm the swap results by tapping the wallet address on the top right corner.
Staking on BEPSwap
Staking your tokens will just be as simple as swapping them. Tap on the token you want to deposit to the platform.
You will see now the liquidity status of the token you selected. Tap on Add to continue.
You will see two options to deposit your token. You can choose Add Token or Add Token + RUNE.
Add Token Only
Choosing the Add only option will automatically convert half of your asset to RUNE tokens.
In this case, we deposited 100 TWT to the Liquidity Pool.
Drag the slider to the right, confirm the transaction on the Trust Wallet app. The platform will refresh after a few minutes, you will notice that half of the TWT deposited was converted to RUNE.
Add Token + RUNE
Next, let us try to Add TWT + RUNE. Indicate that amount of tokens you want to deposit. The platform will automatically adjust the ratio of RUNE tokens needed.
Once you have set the amounts, drag the slider to the right to confirm. Tap on OK on the app to proceed with the transaction.
You have successfully deposited your TWT and RUNE tokens.
Sources:
Announcing BEPSwap — DeFi on Binance Chain
BEPSwap Tutorial Launch