How To: Farm $CZATS
Decentralised Finance (DeFi) is making great contributions to the world of finance and economics. As DeFi is still relatively new, many people have yet to tap into its potential. At Catoshi, we are here to utilise all aspects of DeFi to provide the most value for our community.
A segment of DeFi that we will be quickly looking into today is called Yield Farming, otherwise known as Liquidity Mining. Put simply, Yield Farming is the act providing liquidity to a liquidity pool and receiving rewards in return. Our tutorial below will show you how to farm and receive $CZATS as a reward. Trust us, the yield is pretty nice 😉
Welcome all to our first tutorial.
For this session, we will be showing you how to add $CZATS-$BNB LP and farm $CZATS on PadSwap.
Step 1: Acquiring $CZATS and $BNB
Before you can do anything, you will need to have both $CZATS and $BNB in your wallet.
You probably already know how to get a hold of $BNB, so we’ll skip this part. Next up… $CZATS.
$CZATS Contract Address: 0x56747ed2fca81b25fae112c7a9d4465e947aac56
You can buy $CZATS on PancakeSwap or PadSwap. There is more liquidity on PadSwap, making it a better place to make the purchase.
PadSwap Link — https://padswap.exchange/#/swap
Simply connect your wallet and type “CZATS” when selecting a token.
Step 2: Adding Liquidity to the CZATS-BNB Pool
On the PadSwap site. Next to the “Swap” tab, click the “Liquidity” tab. Then click “Add Liquidity”.
The two tokens you will select when adding liquidity are $CZATS and $BNB. Your screen should look like the above image.
The ratio for adding liquidity is always 50:50. So if you want to add $500 worth of $CZATS to the liquidity pool, you will also need to add $500 worth of $BNB also.
Having decided on how much liquidity to provide, click “Approve CZATS”, then click “Supply”.
After the transaction is complete, you will receive PAD-LP tokens. These tokens are a representation of the amount of liquidity you have provided.
Step 3: Staking your LP tokens
Now that you have your LP tokens, it’s time to put them to use and earn a return. We will stake these tokens on PadSwap. The act of staking LP tokens can also be called “Farming”. It’s like planting little seeds of prosperity and watching them grow over time.
PadSwap Farming Link — https://dapps.padswap.exchange/lpfarms
Next, connect your wallet to the site.
Then select the CZATS-BNB farm and click “Approve Farm”. Afterwards, click “Stake LP” and confirm how much you would like to stake.
Step 4: Enjoy the fruits of your labour
You are now officially a $CZATS farmer enjoying wonderful yields. Whenever you want, you can decide to harvest or reinvest your gains.
Should you wish to stop farming (in a highly unlikely scenario of course), simply click the Minus symbol and confirm how much of your LP you want to remove.
The LP tokens you remove will then be deposited to your wallet. Then simply go to the “liquidity” page on Padswap and remove liquidity (you may need to approve your tokens again).
⬇⬇Just a reminder⬇⬇
The Crossing Referral Program
Catoshi has begun its referral program: The Catoshi Bounty
If you (yes…. you, the reader) know any project you believe would benefit from our bridging services. Please contact the developers of your chosen project, have us connect with them. If the project you referred utilises our bridging services, you will receive $500 worth of Catoshi and a special NFT (for referees only)!
Trust us when we say, you will want to keep a hold of the referee NFT…
We will be making a list and recognising every member that has made a successful referral. You all should have seen by now, how well Catoshi rewards those who work hard…. Make sure you get yourself on that list!
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