Farming $DKT on PancakeSwap
2020 was an evolutionary year in the DeFi industry. Projects that would revolutionize the industry were quickly rising up, peaking people’s interest.
One of the hottest topics in 2020 was farming. Not growing and harvesting crops but Yield farming. What exactly is Yield Farming and can we farm $DKT?
What is Yield Farming
Yield Farming essentially is lending or committing your crypto assets to support a certain blockchain network so that you can generate high returns or rewards in the form of cryptocurrency.
So what does that mean in layman’s terms? You use your crypto to make more crypto, you basically lend funds to others through smart contracts and in return you get a fees! For as simple as it sounds, it requires copious amounts of strategy and moving crypto all the time to different marketplaces to maximize returns!
This is risky, volatile but innovative and has caused farming to go through the roof and catapult in popularity. This was pushed even further when further innovation such as liquidity mining came into play helping grow the DeFi sector from a market cap of $500 million to $10 billion in 2020!
$DKT
$DKT is our native token providing rights for governance voting as well providing token holders to not only participate in DAO governance but the tokens also come with various forms of utility such as discounts to our exciting mystery boxe, cash out rewards in the game and even staking to mint rare NFTs! The gamers can convert DKT to in-game points or use it to buy cards later down the line!
- Total Token Supply: 10,000,000 DKT
How to Farm $DKT
Our Farming and Syrup pools both live on PancakeSwap where we had a highly successful IFO.
Unlike Syrup pools, Farms require you to have TWO tokens to get LP tokens which represent your liquidity provisions on the dapp, in simple terms its a proof of purchase or proof that you provided liquidity to a pool.
They can then be staked in Farm so you can earn exciting rewards. This is done due to allowing you the community members to earn DKT tokens all while keeping your positions within other tokens.
The FIRST step:
To start farming DKT you need 2 tokens, Binance Coin and DKT! You can purchase DKT on the PancakeSwap exchange and its super simple! On the PancakeSwap website you can find the ‘Trade” and click on “exchange” where you can then trade tokens in an instant and choose any token you want and get it exchanged for DKT!
It’s crucial to note that you need to ensure that you have DKT’s official token contract:
0x7Ceb519718A80Dd78a8545AD8e7f401dE4f2faA7
Double check the address, if you get the wrong token address you can lose your assets!
The SECOND step:
You need to go onto the PancakeSwap website and on the top of the website you will see “trade”, hit it and click “Liquidity”
You can then choose BNB and DKT respectively and enter the amount you want to add liquidity and hit “Supply” boom! That’s it, you’ll receive LP Token of BNB-DKT in your wallet!
The THIRD step:
You are ready to farm! On the PancakeSwap website, click on “Earn” which will be located in the top navigation bar and from the drop down menu choose “Farms”
After doing that, there will be a list of tokens, look for DKT-BNB and hit “Enable contract” if this is your first time farming DKT! After that choose “Stake LP” and you’re good to go!
How do I “harvest” my rewards?
The answer is in the question, you can recieve your DKT rewards by clicking “Harvest”. That’s it! It’s that simple! One thing to note is that if you want to see your yields or Return on Investments, you can simply hit the small calculator button near the APR and you’ll have an ROI calculator!
About Duelist King
Duelist King is not just another NFT card game. The project is revolutionizing the way people buy, collect, play, trade, contribute designs, and earn in NFT card games. It operates on a Win2Earn model which through top-notch gameplay and design, gets players to enjoy the game first, engage with the community second, and finally earn value. This evolves the play-to-earn model by attracting gamers with enjoyable gameplay rather than just earning potential. This creates a more sustainable gaming ecosystem where people are there for the love of the game first and earnings second.
Furthermore, through the power of DAO and tokenization, Duelist Kings have created the first-ever democratic NFT card game where the player’s shape all aspects of the game. For example, Duelist King allows you to customize your deck, choose your own gameplay, design your own game or build a unique tournament that the community can vote on via the DKT (Duelist King Tokens) governance tokens.
💬 Telegram: https://t.me/DuelistKingNFT
👑 Website: https://duelistking.com/
🐦 Twitter: https://twitter.com/duelistkingnft
