BULT/TFUEL LP Staking

7 min readSep 2, 2022

1.1 What is a Liquidity Pool?

A liquidity pool (LP) is a crowdsourced pool of trading pairs locked in a smart contract to allow participants to switch back and forth between cryptocurrency pairs without a central authority.

Many decentralized finance (DeFi) platforms use automated market makers (AMMs), which allow digital assets to be traded in an automatic and permissionless manner — all this is done through these liquidity pools.

1.2 What is LP staking?

Liquidity Pool staking is a valuable way to incentivize token holders to provide liquidity to the market.

When a token holder provides liquidity, they receive LP tokens in return. LP staking allows the liquidity providers to stake their LP tokens and receive $BULT as rewards to help holders mitigate the risk and increase the profit.

1.3 BULT / TFUEL liquidity pool

In our case, Bullit is paired with Tfuel.

Pair

BULT / TFUEL

Platform

https://bit.ly/3lkIhDq

LP contract

0x503d52c7c484aeb09fe23eaf9a4a428c00203efc

1.4 Limited Liquidity Provider Incentivized Pools

TFUEL / BULT — Liquidity Pool (LP) ThetaSwap / Theta network

Liquidity Providers offer three incentives

Income generated from BULT.
Rewards generated based on the amount of BULT staked.
Rewards are generated based on the deposit length of time.

The Annual Percentage Rate (APR) is your yearly rate without considering compound interest.

BULT APR — 30% to 95%

Liquidity Providers (LPs) for BULT will earn a static 30% to 95% APR yield. “Static” means that the base 30% to 95% APR will not change as more Liquidity providers enter. A drop in APR Yield is commonly seen in other LP scenarios as more liquidity providers enter.

Note: For the APR calculation, we look at the $BULT amount inside of the LP when it’s deposited inside the LP Stake pool. For example, if you were providing liquidity in the TFUEL / BULT liquidity Pool and have 1 LP token and its includes (10 BULT / 16 Tfuel), we will record this 10 BULT amount inside your LP and calculate your APR, then reserve the reward amount for you when the date is come to claim. This means you will know the exact BULT reward you will get before even making your deposit. This provides stakers an added benefit not commonly seen in LP staking.

Note: 2% of rewards will be deducted as a fee for the process

Why is it limited?

We have allocated 70M BULT tokens for the staking rewards, so we need to check each deposit and be sure we have the BULT tokens rewards for it before accepting the deposit.

When will it close?

Once the 70M BULT token is gone.

We project it will run for around two years.

1.5 Stages

To stake your TFUEL / BULT LP token, you must choose the period for which you would like to lock your investment to set the APR according to the following:

3 Months locked APR — 30%

6 Months locked APR — 55%

9 Months locked APR — 70%

12 Months locked APR — 85%

1.6 Get +10% APR for owning Bullit NFT

Our first collection of Bullit NFTs is free to mint initially for all our early supporters (defined as all who bought tokens in the BULT Pre-Sale before March 21st or any user who purchased the max allocation during the BULT presale at any time).

If you own one from Bullit NFT and want to use it, 10% will be added to your APR, as shown in the following table.

2.0 Tutorials:

- How to buy BULT?
- How to add (BULT/TFUEL) liquidity to get LP?
- How to Mint Your Bullit NFT?
- How to stake (BULT/TFUEL) LP?

2.1 How to buy BULT?

Make sure your Metamask wallet is connected to the Theta Network (Add Theta Network to Metamask walkthrough: https://bit.ly/3IMGrFa)

You will be paying in Tfuel, so make sure you have enough of it by sending it using Theta Network to the account address you want to use.
Go to ThetaSwap https://bit.ly/3lkIhDq

Connect your metamask wallet by clicking “Connect Wallet” in the upper right corner and authorizing the connection.
Select the tokens you want to swap. The first box is the token you have already (defaults to TFUEL) and want to swap from. The second box is what token you want to swap for in return (BULT).

If you don’t see BULT you can search for it by using the BULT contract: 0xb97c24d014cabdb8744f198a16918497Effc36E5

After selecting both tokens, enter the amount you want to swap and the field will auto-populate with the estimated tokens you’ll receive in return at the prevailing market price.
If this is your first trade, you’ll need to click Allow TFUEL and then Allow (whichever TNT20 token) to grant permission to ThetaSwap to trade them.
Then, click the Swap button to make your trade.

2.2 How to add (BULT/TFUEL) liquidity to get LP?

Go to https://bit.ly/3pFgH6a

Enter Values

Click Allow TFUEL

Click Confirm

Approve token TFUEL in MetaMask and the transaction is completed!

Click allow BULT.

(you must approve both sides of adding to the liquidity pool*).

Click Confirm

Approve token BULT in MetaMask and the transaction is finalized!

Click Supply

Click Confirm Supply

Click Confirm

Approve transaction in MetaMask and TFUEL and BULT transaction is completed!

Congratulations! 🍾You have now successfully added liquidity to the TFUEL / BULT liquidity Pool

2.3 How to Mint Your Bullit NFT?

Go to https://opentheta.io/collection/bullit-collection-v1
Connect your Metamask wallet with the same address that you used to participate in BULT presale
Make sure that you have chosen the Theta mainnet from the metamask dropdown
If you do not qualify as an early supporter but still want to start collecting, each Bullit NFT mint will start from 600 TFUEL
If you want to view your NFT go to https://opentheta.io/MyNFTs

After minting your Bullit NFT you will get a random choice from the selection below, each having a unique and exciting story behind it.

2.4 How to stake (BULT/TFUEL) LP?

Go to https://invest.bullit.app
Connect your metamask wallet by clicking “Connect Wallet” in the upper right corner and authorizing the connection.

Reserve your Bullit NFT if you own one and would like to use it before staking by clicking on it on the right or if you don’t have one, you can buy one from https://opentheta.io/collection/bullit-collection-v1

After clicking on your Bullit NFT on the right and approval of the operation from the metamask, then click on BOOST and agree again on the metamask.

Determine the amount of (BULT/TFUEL) LP you want to stake or choose the max quantity, then click on allow staking and approval of the operation from the metamask

Choose the period you would like to lock your (BULT/TFUEL) LP for.

Note: You will not be able to withdraw (BULT/TFUEL) LP or Bullit NFT used in the staking process until the end of the locked period.

The calculator below will show you the amount of BULT that you will get at the end of the locked period
When you click on stake finally you need to give the approval of the operation from the metamask.