BORGSWAP Released

Locutus of BORG

Published in

TheBorgToken

4 min readMar 23, 2021

BORG-LPs on #BinanceSmartChain

BORGSWAP has now transitioned to Phase II of the plan.

Here were the phases of deployment outlined in the beginning of March:

Phase I: Deploy Klingon Yield Farms to Build $KLING (Klingon Token) Liquidity.
Phase II: Deploy BORGSWAP Factory and Router Smart Contracts to enable swapping within the BORG ecosystem.

Now that Phase II has launched, we have migrated our Yield Farms and the Ferengi Vaults over to the BORGSWAP Liquidity Pools, and we will be using BORG-LPs for all new token launches on BSC.

BORGSWAP On DApp Radar

BORGSWAP.Exchange has been added to the #BSC and #DeFi categories within dApp Radar. This allows our Smart Contracts to be automatically monitored by a third party to track historical user, volume and balance history.

The Motivation Behind BORGSWAP

The focus for delivering BORGSWAP was aimed primarily to optimize our liquidity pools as we start to launch new token ITOs (Initial Token Offerings) and add new layers to our Yield Farms.

On the backend, the BORGSWAP uses a new liquidity pool token, the “BORG-LP” (similar to Cake-LP if you have worked with PancakeSwap Liquidity Pools).

The BORGSWAP LP Token (BORG-LP)

Inside the BORG-LP token, there is actually an inventory of two tokens, maintained at a certain price ratio to create a LP (Liquidity Pool). Users can swap tokens within the liquidity pool with the BORGSWAP frontend, as well as add and remove liquidity.

Why Provide Liquidity on BORGSWAP?

There are two major advantages to providing liquidity on BORGSWAP.

Advantage #1. You earn 0.3% on Each Trade in the Liquidity Pool — As users swap tokens, you earn a portion of each trade.

Advantage #2. You earn BORGSWAP Yield Farm rewards in $KLING (Klingon Token) — This token is redeemable for BNB, BUSD, ETH, USDT or Bitcoin (BTCB) on BORGSWAP.

How to Provide Liquidity on BORGSWAP

Providing Liquidity and Earning BORGSWAP Rewards is a simple 4 step process.

Step 1: Choose a Pool on BORGSWAP.Exchange Yield Farms

Step 2: Expand the “Details” of the Pool to Reveal the Deposit Link

Step 3: Add Liquidity for the Pool on BORGSWAP

Adding Liquidity will Pair Up BNB (or other token) and $KLING to Receive the BORG-LP Token

Step 4: Deposit BORG-LP Token In Klingon Yield Farms

Select the “KLING-BNB” Pool (or other pool you have provided liquidity to) and Choose “Approve Contract”.

Deposit your BORG-LP token in the screen, select the amount and click “Confirm”.

Staking and Farming Options for BORG-LPs

Within the BORGSWAP ecosystem, there are various methods for earning rewards on your tokens and BORG-LPs.

Option #1. Ferengi Vaults (Earn $EARS Token) — Staking for single tokens like $KLING for $EARS, $TRIB for $EARS. Vaults for EARS-BNB, EARS-BUSD, BORG, Romulans and other Assimilate.Finance tokens.

Option #2. Klingon Yield Farms (Earn $KLING Token) — Staking for single tokens ($EARS for $KLING). Farms for $KLING-BNB, $KLING-ETH, etc.

Option #3. Tribble Yield Farms (Earn $TRIB Token) — Staking $KLING for and $TRIB for $TRIB. Farming of $TRIB-BNB, $TRIB-BUSD and $TRIB-BTCB.

Option #4. Vulcan Yield Farms (Earn $SPOCK Token) — Staking of $KLING, $TRIB for $SPOCK, $SPOCK for $SPOCK. Farming of $SPOCK-BNB and $SPOCK-BUSD pairs.

Migration Guide for Yield Farms and Ferengi Vaults

At launch, rewards were provided for Cake-LP providers, and now with the full launch of BORGSWAP, we have made those pools inactive and transitioned to BORG-LPs.

Step #1. Remove LP token from the old pools using Cake-LPs. These will be on the “Inactive” Page of each Yield Farm.

Step #2. Remove the Liquidity from PancakeSwap

Step #3. Add Liquidity on BORGSWAP

Step #4. Deposit BORG-LP Token to Receive Rewards