Staking on MANTRA DAO for Binance Smart Chain Pools — 101 Guide
As we expanding staking to BSC, we want to make sure our Sherpas are familiar with the process!
MANTRA DAO’s Staking services are now on BSC! This guide serves as an explainer for our Sherpas on how to access BSC which we have divided into 2 parts: configuring your Metamask wallet and joining pools. As our first staking pool on BSC, we will be using FINE/BNB LP as an example in the following guide.
- Setup the your address for BSC on Metamask if you haven’t already, click here for details
- Obtain LP tokens from PancakeSwap, for example FINE/BNB by providing liquidity to the FINE/BNB pool.
- Go to app.mantradao.com/staking on BSC, find the FINE/BNB LP pool and confirm staking your LP tokens
- How to setup your BSC wallet on Metamask
Network Name: BSC Mainnet
New RPC URL: https://bsc-dataseed1.binance.org
Chain ID: 56
Block Explorer URL: https://bscscan.com/
Then press “Save”
Congratulations!! Now Your Metamask connected to Binance Smart Chain (BSC)!
Once you have successfully completed the configuration you can use the same wallet address to interact with Binance Smart Chain.
2.Obtain BSC LP tokens from PancakeSwap
Please refer to Binance’s guide on PancakeSwap here and read the section on Adding liquidity.
3.Staking your BSC PancakeSwap LP Tokens
If you are joining an LP pool, you must first obtain LP tokens from PancakeSwap, for example FINE/BNB by providing liquidity to the FINE/BNB pool.
Go to app.mantradao.com/staking and make sure you are connecting with a BSC supported wallet and click on the “change to BSC” button on the top right hand corner of the screen.
Once you have done that, you will be able to see the available asset pools, for example, the FINE/BNB LP pool. Next you can click the “Next” button to enter the pool
Clicking Next will open up a window where you can click “Stake Now” to proceed. You will need to confirm 2 transactions, 1 for approving the contract, and the second to stake.
Congratulations! You have now successfully staked your tokens!
When you want to claim your rewards or to unstake your tokens, you can return to our staking page where you will see the options to claim and withdraw your tokens as well as to unstake.
About MANTRA DAO
MANTRA DAO is a community-governed DeFi platform focusing on Staking, Lending, and Governance. MANTRA DAO leverages the crowd’s wisdom to create a community-governed, transparent, and decentralized ecosystem for web 3.0. Built on Parity Substrate for the Polkadot ecosystem, MANTRA DAO gives financial control back to the people to store and grow wealth together.