RFOX Finance Introduces New RFOX-BNB LP Farm
RFOX Finance, the decentralized finance (DeFi) arm of metaverse company RFOX, has unveiled its first farm for RFOX-BNB LP token holders. Liquidity providers (LPs) can now earn additional yield by staking their LP tokens in the new farm.
The new RFOX-BNB LP farm will begin paying out a total of 3,000,000 RFOX in rewards, beginning at approximately 8 AM UTC on February 25. To prepare for this launch, you can add BNB and RFOX liquidity here, and then stake your RFOX-BNB LP tokens on this farm starting February 21, 2022.
RFOX Finance is committed to offering more crypto-financial solutions that provide ways for the RFOX community to maximize their RFOX token holdings.
Here are some more details about the new RFOX-BNB LP farm:
- Mechanics: Stake RFOX-BNB LP tokens to earn RFOX tokens
- Total rewards: 3,000,000 RFOX
- Distribution duration: Approximately 90 days
- Start block: 15560000 (approximately 8 AM UTC on February 25, 2022)
- Finish block: 18152000 (approximately 8 AM UTC on May 26, 2022)
- Token rewards per block: 1.574 RFOX
- Maximum stake per wallet: No maximum
To participate in the new RFOX-BNB LP farm, follow these steps:
- Connect your crypto wallet to RFOX Finance. Make sure that your wallet supports Binance Smart Chain and that you have sufficient RFOX and BNB tokens
- Go to the menu button beside the RFOX Finance logo on the top-left part of your screen, choose Trade, select the Liquidity tab, and click or tap the Add Liquidity button.
- RFOX is shown as the first currency. Select BNB as the second currency, enter the amount of RFOX or BNB tokens that you want to provide as liquidity. The form auto-populates the values for the other token. Once this is done, click or tap the Approve button and then the Supply button.
- A window appears, showing how many LP tokens you’re bound to receive for your stake, as well as the prevailing rates and your share of the RFOX-BNB liquidity pool. To continue, click or tap the Confirm Supply button.
- Your LP tokens for the RFOX-BNB farm are now in your crypto wallet. To complete your earning journey, go to the menu, choose Farms, click or tap the Approve Contract button under the RFOX-BNB farm, enter the amount of LP tokens that you want to stake, and click or tap the Stake LP button.
- You’ll start earning rewards until the end of the distribution schedule for the LP farm.