Earn $LEV through Lever’s Liquidity Mining & Staking Programs #1 (BSC Version)
To offer better incentives to Lever users and LP providers, Lever will initiate the Liquidity Mining & Staking programs, where users will be able to earn $LEV by using the product and by staking specified LP tokens.
📖Liquidity Mining & Staking 101
Liquidity Mining: also known as yield farming, is an incentive to encourage users to actively participate in protocol usage. That is to say, you can earn $LEV by depositing/borrowing/leveraged trading supported assets on Lever. By doing so, on one hand, users can earn both interest and $LEV by simply depositing without any cost. On the other hand, the protocol can expect greater volume and TVL. (for guide see below)
Staking: other than liquidity mining, users can also earn $LEV by providing liquidity for $LEV in Sushi & Pancake, then staking the LP tokens on Lever. This will not only increase the $LEV liquidity but also help LP providers gain extra benefits. (for guide see below)
APR: depositing/borrowing in Lever markets gives rewards in $LEV. The APR shown is a representation of how much of these rewards you would earn during a 1-year period.
Overall APR: the overall APR takes into account both your deposit APR and loan APR, which can be used as a reference for the highest yield market.
📢Liquidity Mining & Staking #1 Intro
The overall $LEV liquidity mining and staking is divided into stages. The present ones belong to stage 1 where a total of 2.16M $LEV is available, taking up 2.16% of the total supply and lasting for 30–50 days.
Stage 1 is completed through multiple rounds. First round offers 1.08M $LEV and lasts for 21 days.
💰Distribution of Liquidity Mining & Staking
1.08M $LEV is allocated by: Deposit Pool: 30%, Loan Pool: 35%, Trading Pool: 15%, LP Pool: 20%.
For users who want to participate in the programs, you can earn $LEV through the following 4 activities:
- Depositing: deposit any supported assets on the protocol and you will start earning $LEV. Your rewarded $LEV is calculated in real time based on your proportion in the deposit pool of the asset. You can claim it on the Markets page of the site.
- Borrowing: borrow any supported assets on the protocol and you will start earning $LEV. Your rewarded $LEV is calculated in real time based on your proportion in the loan pool of the asset. You can claim it on the Markets page of the site.
- Trading: perform margin trading on the site. 0.1% of your total trading volume in USDT will be returned in equivalent $LEV in real time. (Trading between USDT/USDC/DAI does not count.) You can claim your rewards on the Margin page of the site.
- Staking: stake BUSD/LEV LP from PancakeSwap on Lever and you will start earning $LEV on the Staking page of the site. (More LPs will be successively listed.)
- Claim: Your $LEV rewards are shown under the Claimable tab in real time, and can be claimed at any time.
Different assets have different weighting factors in the pools. For more details please see the table below:
💻Step by Step Tutorial
1.1 For PC: Connect with BSC network
Users could first connect with the wallet in BSC. To connect with BSC, users need to switch to the designated BSC network.
Below is the instruction for MetaMask as an example.
On the Settings page, we want to locate the Networks menu. We want to click Add Network to manually add the Binance Smart Chain one.
BSC details are as follow,
Network Name: Binance Smart Chain
New RPC URL: https://bsc-dataseed.binance.org/
Block Explorer URL: https://bscscan.com
💡Users can use https://www.binance.org/en/bridge and others to transfer the funds from ETH to BSC.
1.2 For Mobile: Use Trust wallet
The Lever app works perfectly on Android and IOS devices.
For Android users, directly download Trust wallet and open bsc.lever.network with the dapp browser.
For IOS users, you may need to refer to this article to enable your dapp browser first. https://community.trustwallet.com/t/enable-dapp-browser-on-trust-wallet-ios-version/98308
2. Make a deposit
- Go to the Markets page, and find an asset you would you like to deposit.
- Click on the Deposit button, and you will be directed to the Deposit page.
- On the Deposit page, enter the amount you would like to deposit and click on the Deposit button again. Once the network has confirmed your transaction, your deposit will be successful.
- Then you will start earning interest and $LEV.
(Asset price, liquidity, deposit APY/APR, and borrow APY/APR are visible on this page.)
3. Take out a loan and carry out margin trading
- Go to the Margin page, and select a trading pair or manually select the token you would like to borrow, up to 3x leverage.
- Then select the asset you would like to buy with your borrowed asset.
- Once completed, you will then either have a long or short position in an asset and start earning $LEV.
Example A: how to open leveraged long position in BNB:
- Deposit any supported asset on Lever.
- Borrow BUSD with leverage.
- Buy BNB.
- When BNB price goes up, close your position by selling your BNB and repay your debt in BUSD. Keep the difference.
Example B: how to open leveraged short position in BNB:
- Deposit any supported asset on Lever.
- Borrow BNB with leverage.
- Buy BUSD.
- When BNB price goes down, close your position by buying BNB and repay your debt in BNB. Keep the difference.
4. Manage position and repay
- You can manage your positions and view your PNL (profit and loss) on the Dashboard page.
- Risk rate represents the health of your position, the greater the risk rate is, the safer your position is. When your risk rate is less than or equal to 100%, your account will be forced into liquidation. For more see here.
- You can repay your debt by clicking on the Close Position or the Repay button next to it. The difference is that Close Position will first close your present position and then auto-repay the debt while Repay will use your uncollateralized deposit to pay for the debt.
5. Participate in Liquidity Mining
- Go to the Markets page, and check each asset’s APR. Find the one that offers the highest yield and start depositing/borrowing.
- A combination of depositing and borrowing will offer the highest APY as you will enjoy both APR from your deposit and your loan. Example, you can deposit BUSD, then borrow BUSD and buy BNB. In this case, you will enjoy deposit APR for BUSD, and loan APR for BUSD and also another deposit APR for BNB. (the asset you buy will be deemed as your deposit.)
- Your $LEV rewards are shown under the Claimable tab in real time, and can be claimed at any time.
6. Participate in Staking
- Stake BUSD/LEV LP from PancakeSwap on Lever and you will start earning $LEV.
- You can either choose to buy $LEV or farm $LEV in liquidity mining, then pair with corresponded asset to add liquidity to PancakeSwap.
Now, you are all good to go!
Start Mining and Staking RIGHT AWAY to earn more $LEV!
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