BETA Rewards and Multichain Bridge for Beta Finance — Avalanche🔺
The BETA token is live and now available for claiming on Avalanche! Users will be able to claim rewards from the first two reward periods, January 19 to February 16, as of Wednesday, March 2 at 3:30 PM UTC.
Additionally, we are excited to announce that we have partnered with Multichain as the official bridge of Beta Finance to support bridging between BNB Chain and Avalanche initially, with additional cross-chain support to come.
The official token address is verified on Snowtrace: 0x511D35c52a3C244E7b8bd92c0C297755FbD89212. Please ensure you are interacting with the correct address when purchasing the BETA token on Avalanche.
We’ll walk through:
- How to claim rewards on Avalanche
- Bridging BETA between BNB Chain and Avalanche
- Providing LP for BETA/AVAX and Trading BETA on Trader Joe
How to Claim Rewards on Avalanche
Users who have been lending, borrowing, or short selling on Beta Finance — Avalanche from January 19 — February 16, are now able to claim their BETA token rewards on the DApp.
- Connect to the Avalanche Network on Beta Finance.
2. Navigate to your dashboard on “My Positions”.
3. Click “Claim Reward” and confirm the transaction
Rewards that display as “Pending” are rewards accrued during the current liquidity mining period. Rewards that are “Claimable” are the tokens from previous liquidity mining periods that have completed the calculation period.
From now on, rewards for each liquidity mining period on Avalanche will be claimable after a 1-week calculation period.
Bridging BETA between BNB Chain and Avalanche
The BETA token is bridgeable between BNB Chain and Avalanche by using Multichain. Bridging to Avalanche from BNB Chain and bridging to BNB Chain from Avalanche will follow the same processes. We’ll walk through how to bridge BETA from BNB Chain to Avalanche here.
- Go to the Multichain DApp and select their Router
2. Select the BNB Chain as the source network and Avalanche as the destination network. You will then be able to search for and select BETA as the token.
3. Enter the amount you wish to bridge over. Note: Multichain charges a fee of 0.1% of volume, with a cross-chain minimum fee of 8.5 BETA.
4. (Optional) If you want to send BETA to a different address on Avalanche, click “Send To” and enter the address. Otherwise, BETA will be sent to the same address you are bridging with.
Initially, we will be having Multichain support bridging for BETA between BNB Chain and Avalanche only. Users who wish to bridge BETA from Ethereum will need to transfer to BNB Chain first through Binance, then use Multichain to bridge to Avalanche.
We will be working towards improving this user experience and enabling more seamless cross chain bridging of our token on existing networks we are on, as well as future networks we scale to.
Providing LP for BETA/AVAX and Trading on Trader Joe
The token address for BETA is 0x511D35c52a3C244E7b8bd92c0C297755FbD89212.
The LP address for BETA/AVAX on Trader Joe is: 0x2cff4ef3367d77283d651ffe7591e04e73d0976a
When providing LP or trading, please make sure you are interacting with the correct token address. LPs will be able to earn fees from trading activity on Trader Joe.
To provide liquidity for BETA/AVAX on Trader Joe:
- Go to the “Pool” tab on Trader Joe and click “Import”
2. Select AVAX and BETA as the two tokens in the pool. If you cannot search BETA, enter the contract address into the search: 0x511D35c52a3C244E7b8bd92c0C297755FbD89212.
3. Click “Add Liquidity”.
4. Enter in the amount of tokens you wish to provide, and click “Supply”.
To trade on Trader Joe.
- Go to the “Trade” page on the DApp.
2. Enter the BETA token address as one of the tokens in the trade 0x511D35c52a3C244E7b8bd92c0C297755FbD89212.
3. Enter the amount you wish to trade and click “Swap”.
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We are hiring!
Beta Finance is looking to expand our team and is actively hiring. If you are passionate about DeFi and excited to build the next generation of infrastructure for DeFi, we’d love the chance to learn more about you! Please see our job opportunities here
