Note:
This is not financial advice. Do not risk anything you cannot afford to lose.
TWT goes DeFi
Since TWT is now available on Binance Smart Chain, this enables the token to be utilized in smart contracts. Trust Wallet Token has officially joined the BSC DeFi ecosystem!
See official announcement here: TWT is now available on Binance Smart Chain
The team is always looking for more ways to increase the utility of TWT. Participating in DeFi has its risks and rewards. So please always be aware of where you invest your hard earned money. This is just a quick intro on how you can use TWT on DeFi projects that are currently in available.
How to get TWT BEP20?
There are 3 ways to get some TWT BEP20
The first option requires a PC or Mac computer in order to swap your TWT BEP2 tokens to BEP20.
Thanks to PancakeSwap, you can earn CAKE and other tokens thru their DApp.
Use PancakeSwap DEX
If you have BNB on your Smart Chain wallet. Access your DApp browser and then tap on PancakeSwap on the New DApps section. Alternatively, you can go to their website: https://exchange.pancakeswap.finance
Use TWT to Provide Liquidity
Now, we will provide liquidity to the exchange and earn more CAKE tokens.
Stake, Harvest, Repeat!
Important:
Liquidity providers earn fees for providing liquidity to traders who can swap between tokens. However, you need to be aware of impermanent loss due to the volatility of the tokens you are supplying. See detailed explanation here: What is Impermanent Loss?
Supply TWT and Earn CAKE
Tap on Pool to start supplying tokens to the PancakeSwap platform. Next, tap on Add Liquidity, choose TWT, and then input the amount that you are depositing. Then scroll down and tap on Approve TWT. Confirm the transaction in order to proceed.
Next tap on Supply and then Confirm Supply.The app will show a prompt about the transaction. Press Send to deposit your tokens to the platform.
The contribution to the pool will reward you with CAKE tokens whenever someone does a swap using the TWT pair. Cool right?
Staking TWT FLIP tokens
Supplying TWT to a pool will result in Liquidity Provider (LP) tokens which gives you a share of the fees.These LP tokens are also called FLIP tokens.
Staking LP Tokens
To maximize the rewards, you can stake your FLIP tokens. Tap on PancakeSwap on the upper left to go to the Home Menu. Next, tap on Menu to show the list of options available. Select Farm to access the PancakeSwap “Kitchen” and select the corresponding LP tokens you have supplied.
Select the TWT-BNB FLIP Farm. Tap on Approve and then wait for transaction to be confirmed. Tap on the + sign to add the FLIP tokens, specify the amount and then Confirm it.
Congratulations! You have provided Liquidity and earned some CAKE at the same time.
