Phala Network
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Phala Network

ANN | How to Farm the Hottest DeFi Token with PHA?

Phala Network’s native token $PHA is listed on Syrup Pools and Farms in PancakeSwap. All token holders can stake $CAKE in Syrup Pool or stake $PHA-$BUSD LP in Farm to earn $PHA or $CAKE and add more liquidity for $PHA.

https://pancakeswap.finance/pools

I. The Farm: Stake $PHA-$BUSD LP and Earn $CAKE

In order to host the PHA Syrup Pool, we will need to provide a $PHA-$BUSD farm that will have 1x $CAKE rewards for the first 48 hours and then 0.5x $CAKE rewards after that.

How to provide LP?

  1. Visit the webpage:https://pancakeswap.finance/farms
  2. Click →‘Trade’ →’Liquidity’

3. Find LP tokens or Add Liquidity

BEP20 PHA will also be circulating and transferable on BSC when we start the Syrup pool, so you will be able to harvest your PHA tokens and trade on PancakeSwap at any time!

II. The Syrup Pool: Stake $CAKE and Earn $PHA

Rules:

  • Total Tokens: 485,000 $PHA
  • Distribution Duration: 60 Days
  • Start Block: 1030440(approx. 09:00 AM August 24th, UTC)
  • Finish Block: 12032400(approx. 09:00 AM October 23th, UTC)
  • Token Rewards per block: 0.28 $PHA
  • Max Stake per wallet: 100 $CAKE for the first 48 hours, then unlimited $CAKE

How to stake?

  1. Visit this webpage: https://pancakeswap.finance/syrup
  2. Click “Approve CAKE” on the PHA Syrup Pool
  3. Click on the stake button
  4. Confirm the transaction

⚠️⚠️⚠️Note:

1. Please make sure there has enough $CAKE, $PHA, and $BNB(as gas fee) in your BSC account.

2. The official PHA token contract address on Binance Smart Chain is: https://bscscan.com/token/0x0112e557d400474717056c4e6d40edd846f38351

3. The content of this webpage is not an investment advice and does not constitute any offer or solicitation to offer or recommendation of any investment product.

About Phala

Phala Network tackles the issue of trust in the computation cloud.

This blockchain is a trustless computation platform that enables massive cloud processing without sacrificing data confidentiality. Built around TEE-based privacy technology already embedded into modern processors, Phala Network’s distributed computing cloud is versatile and confidential. By separating the consensus mechanism from computation, Phala ensures processing power is highly scalable but not wasteful. Together, this creates the infrastructure for a powerful, secure, and scalable trustless computing cloud.

As a member parachain of the Polkadot cross-chain ecosystem, Phala will be able to provide computing power to other blockchain applications while protecting the data layer, enabling possibilities like privacy-protected DeFi trading positions and transaction history, co-computing DID confidential data, developing light-node cross-chain bridges, and more.

On-chain services currently being developed on Phala Network include Web3 Analytics: high-performance smart contracts from Phala to enable highly concurrent mass data analytics with privacy, paving the way for an alternative to Google Analytics that inherently respects individual confidentiality.

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Phala Network is a privacy-preserving cloud computing service, based on Substrate, and will run as a parachain in the Polkadot ecosystem to offer computing power comparable to existing cloud services but which protects the privacy of managed programs.

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Infrastructure of Web3.0 privacy protection

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