Introducing PURSE Liquidity Mining Program

1 billion $PURSE for liquidity providers to grab

Dear $PURSE holders,

$PURSE Liquidity Mining Program is coming🤩

In this article, you can find a step-by-step tutorial to join the Liquidity Mining program, so $PURSE holders can benefit from it while providing liquidity pairs on decentralized exchanges.

For this liquidity mining program, you can earn rewards (in $PURSE) by staking your LP via Pancake Swap and 1INCH (soon) on pursetoken.com. The new supply of $PURSE token generated per block will be distributed to all LP stakers on the website, and the total reward allocation for this program is 1 billion $PURSE.

To support this decentralized liquidity program, 1 billion $PURSE tokens was BURNT from the circulating supply. Instead of allocating the $PURSE token from current circulating supply as Mining rewards, we think it will be more transparent and beneficial to all $PURSE holders by distributing the upcoming generated $PURSE tokens to all LP stakers via smart contract and burn the same amount of $PURSE tokens from the current circulation.

Current supported LP:
1. PancakeSwap
- PURSE- BUSD
- More pairs (coming soon)
2. 1INCH (coming soon)

Tutorial

Before you start, please make sure that you have done the following prerequisite steps:

1. Install a web extension wallet (i.e Metamask).

If you are a f(x) Wallet user, you can access your wallet via Metamask to join this program, by importing your f(x) Wallet recovery phrase to Metamask.

Notes: If you import f(x)Wallet to Metamask and transfer BUSD BEP20 to participate the liquidity mining program, you will find BUSD BEP20 is not displayed in f(x)Wallet. Don’t worry. This feature will be supported in f(x)Wallet later. Rest assured. Your BUSD assets are in there.

• Connect your wallet to Binance Smart Chain.
  You will be required to configure your Metamask to connect to Binance Smart Chain. Please follow the instruction below:
• Click the connected Network (see below).

• Click on “Custom RPC” if you have not previously added the Binance Smart Chain information.

• Enter in the Binance Smart Chain details as follows:
  Network Name: Binance Smart Chain
  New RPC URL: https://bsc-dataseed.binance.org/
  ChainID: 0x38, 56 in decimal (if 56 doesn’t work, try 0x38)
  Symbol: BNB
  Block Explorer URL: https://bscscan.com
  Then press “Save”

For more details, you can find the information in here: https://docs.binance.org/smart-chain/wallet/metamask.html

2. Make sure you have BNB BEP20 for transaction fees

3. Provide $PURSE liquidity (i.e PURSE-BUSD) on AMM DEX. In this tutorial, we will use PancakeSwap as an example.

If you cannot find BUSD in your BEP20 wallet, you need to add new custom token. Please enter the BUSD details as follows:
Token Contract Address: 0xe9e7cea3dedca5984780bafc599bd69add087d56
Token Symbol: BUSD
Decimal: 18

Now, you are ready to go.

To join this Liquidity Mining program, you must restake your LP from the AMM DEX into the official website. The official website link is https://pursetoken.com/ . Please double check and always use the official website before providing any LP tokens. Please find the step by step tutorial below:

1. Visit https://pursetoken.com/ and click “LP Farm”

2. Connect your Binance Smart Chain wallet to the website.

3. Select the pair you want to deposit.

4. Enter the amount and click “Deposit”.

5. Confirm the transaction on your wallet.

6. You are required to harvest the $PURSE reward manually by clicking the “Harvest” button. If you choose to withdraw / redeposit the LP, the system will automatically harvest the $PURSE reward for you.

As previously mentioned, to counter the inflation rate of the $PURSE token, it has applied the BDL (Burn, Distribution, and Liquidity) mechanism. The current rate of BDL is 20%, of which 10% of the tokens will be burned, 5% distributed to the private wallet holders and 5% transferred to the liquidity pool.

Please note that participating in the liquidity mining program requires transactions and 20% of the $PURSE transaction amount will be deducted to contribute to the BDL mechanism. This is applied to every transaction, including adding liquidity to AMM DEX.

And, this is it. Please let us know if you have any questions or suggestions to improve this farm on the forum.functionx.io and do not forget to follow @Pursetoken on Twitter. Hope you enjoy the decentralized liquidity mining program.