Tax Heaven now finally launched.
The gates to Tax Heaven, the haven for crypto gains, is now open for everyone to use!
Let us give you a quick tour of what heaven looks like and how to use its functions.
If you want to know more about the background of the project and how the rewards are calculated, we recommend that you read the “Introduction” blog post.
Let’s begin the tour shall we!
Go to Apps:
You will be greeted with a warm warning when you access the Tax Heaven app.
The warning pretty much says it all.
The contract has not been audited (yet).
Please do not deposit significant amounts.
Once you accept the warning by clicking OK, you will be asked to connect to your wallet.
You can use Metamask
The instructions below apply to both Tax Heaven on Ethereum and on Binance Smart Chain (BSC).
Caution: Tax Heaven on Ethereum and Tax Heaven on Binance Smart Chain are completely different protocols and operate separately and independently of one another. The TAX-BSC token on Binance Smart Chain and the TAX token on Ethereum are also completely different tokens. They reside on different blockchains and have no compatibility.
Once you connect with your wallet and unlock the gates to heaven, your screen should look like this.
This is where you will be spending most of your time when using Tax Heaven to Lend and Borrow tokens.
Step 1: Lend and Borrow Tokens
Let’s start minimizing crypto taxes.
Tax Heaven on Ethereum currently supports the following whitelisted tokens
- ETH
- WBTC
- BAT
- COMP
- KNC
- LINK
- LRC
- REN
- SNX
- UNI
- YFI
- ZRX
Tax Heaven on BSC currently supports the following whitelisted tokens:
- BNB
In the future you will be able to lend and borrow any ERC20/BEP20 token.
We will be announcing the release of that functionality soon.
Select the token that you want to lend out.
Enter the amount that you want to lend.
The module will show you the amount of TAX token you will receive for lending to the platform!
You obviously would want to borrow tokens now that you have put up collateral.
You borrow tokens by clicking on the BORROW tab to the right of the LEND tab.
Enter the amount that you want to borrow.
Step 2: Stake the TAX token
Let’s put the TAX token that you received by lending to the platform to work!
Remember, you have to stake the TAX token to receive rewards.
Here is how you do that.
Enter the amount of TAX that you want to stake.
Make sure that TAX is selected from the pull-down.
Select the token that you want to receive as rewards.
Click Stake.
That’s it!
There is also a way to receive TAX tokens as Liquidity Provider (LP) rewards.
First, you provide liquidity on Uniswap for the TAX/ETH pair.
You will receive LP tokens from Uniswap representing your share of the liquidity pool on Uniswap.
Then all you have to do is select LP from the pull-down in the staking module, enter the amount of LP tokens you want to stake and stake the LP tokens to Tax Heaven.
Your rewards on Tax Heaven will accumulate daily.
When you feel like withdrawing your rewards, select the Reward tab in the staking module, select the token that has accumulated rewards and withdraw.
That’s it!
Determining which token to receive rewards in is part of the fun.
You can use the stats that are displayed on the Staking screen to find the most advantageous token!
