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Staking and Yield Farming on Binance Smart Chain
Greetings Singularitarians,
We are excited to announce that the new pools for both single asset staking of $SDAO and farming with liquidity pairs (SDAO/BNB & SDAO/BUSD) have been launched on Binance Smart Chain.
All SingularityDAO users are now able to swap BUSD for $SDAO directly on the DApp. (https://app.singularitydao.ai/swap) by switching their network from Ethereum Mainnet to Binance Smart Chain. Here’s a guide from Binance on how to achieve this. For those who prefer a video you can check out this link to YouTube. Remember, because BSC and ETH are so similar (learn more here), you can in fact use the same wallet and wallet address for this. No need to create anything new, simply change which chain your current wallet connects to.
From today you are also able to stake your $SDAO, add liquidity in BNB or BUSD and start earning more $SDAO on the BSC network!
Epoch 1 Length
At SingularityDAO we use the term ‘Epoch’ to designate periods of staking, today begins Epoch 1.
The first Epoch for farming will last 45 days from today for all three pools (single staking $SDAO, LP SDAO/BNB, LP SDAO/BUSD). We will then decide whether to simply roll over these pools into Epoch 2 or make some changes based on community feedback and pool statistics.
Epoch 1 Reward Pool Size
Each pool, be it staking or farming, has a set amount of tokens set aside in a “reward pool” to be distributed. Each user will receive a portion of the total reward pool every block based on the size of their contribution to the staking and farming pools.
- Liquidity Provision
- SDAO/BNB — 7,500 $SDAO
- SDAO/BUSD — 7,500 $SDAO
- Unbonded Single Asset Staking — 15,000 $SDAO
Why is this important?
Last week we officially began the process of becoming a chain agnostic platform. Today we take the second step on the long path to full chain agnosticism. The next step is of course the Bridge, which, due to the recent Binance Smart Chain Hard-Fork on the 30th, is currently undergoing updated security checks. As soon as we get the results back we are ready to release it to you all. Following that will begin the roll-out of Polygon compatibility, and then of course many more chains!
For now however, Binance Smart Chain users are finally able to enjoy the benefits of holding $SDAO:
Holding the SingularityDAO Governance Token $SDAO will give you access to our launchpad. Check out this article to find out about the first launch, NuNet, which raised $2mil USD in 90 seconds! SingularityDAO will select the most promising projects and help guide them through the complexities of holding a token generation event and continue to assist them on their journey into the crypto markets and possibly even inclusion within DynaSets. Be among the first to gain access to these carefully selected projects by holding $SDAO.
Our core product, DynaSets will initially be released on Ethereum but soon will find its way to BSC. Holding $SDAO means you are an official DAO member, DAO members will receive incentives from the Alpha and Fees generated by DynaSets.
We are extremely excited to invite our new community members from BSC to join us on this cross-chain journey. Our amazing Admins are available around the clock to answer any and all of your questions. Simply join our Telegram channel and other socials.
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