Hi N1CE people,
with our native N1CE token available for trading on Pancakeswap, it’s now time to introduce our Yield Farming program too.
Yield Farming Details
This program will run on TosDis and will last 8 months, with a total reward pool of 9 million N1CE tokens, distributed as follows:
- Month 1: 1.500.000 N1CE
- Month 2: 1.500.000 N1CE
- Month 3: 1.000.000 N1CE
- Month 4: 1.000.000 N1CE
- Month 5: 1.000.000 N1CE
- Month 6: 1.000.000 N1CE
- Month 7: 1.000.000 N1CE
- Month 8: 1.000.000 N1CE
Each epoch will last one full month, and new farming pools will be created each month.
What you need
- A BEP-20 compatible wallet like Metamask, TrustWallet, TokenPocket etc
- Some N1CE tokens
- Some BNB (BEP-20) tokens
Then follow these steps:
- Click on “Add Liquidity”
2. Leave BNB as input number 1
3. Select N1CE as input number 2 by pasting the N1CE Token Smart Contract Address 0xC14dF1E2fFf3708816495e7364Ff274aCEEcAd91:
4. Select how much of each token you want to put for liquidity, but remember that their value (in USD) has to be the same:
5. Approve the pool if you haven’t already, and then click on “Supply”
6. Wait for the transaction to be approved, and you will receive an amount of N1CE/BNB liquidity tokens (named CAKE-LP) equal to your share of liquidity.
Now that you have your CAKE-LP tokens, you can go to https://app.tosdis.finance/farming, make sure you have connected your wallet and also selected Binance Smart Chain:
Go to Verified Pools and look for N1CE Pool.
Then follow these steps:
- Approve the Pool
- Click on Stake button, and select MAX
- Confirm the transaction (make sure you have enough gas to pay for it)
- Earn free N1CE tokens! This month’s pool has insane APY! (The APY is adjusted according to the size of the liquidity pool)
General Warnings on Liquidity Providing
- In order to provide liquidity you always need to provide the same value of both tokens. This means that if you want to put a liquidity worth of 100 N1CE tokens, and let’s say, it’s worth 20$ at that time, you also need to provide 20$ worth of BNB tokens.
- While providing liquidity you have to understand the phenomenon of impermanent loss. Impermanent loss happens when the price of your tokens changes compared to when you deposited them in the pool. The larger the change is, the bigger the loss.
So why do liquidity providers still provide liquidity if they’re exposed to potential losses? Well, impermanent loss can still be counteracted by trading fees. In fact, even pools that are quite exposed to impermanent loss can be profitable thanks to the trading fees.
- While we have a large amount of N1CE tokens reserved for the liquidity mining program, these rewards will be distributed among all liquidity providers that are staking, so the APY and rewards will change accordingly.
- Final note: the larger the liquidity, the healthier the market. This means less volatility on each trade, with the risk of impermanent loss decreasing drastically.
If you want to understand more about N1CE project, you can read our whitepaper here:
Whitepaper - N1CE
N1CE is short for "Number One Crypto Expert", and it's a platform which aims to create a community of people who love…
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