Open Binamon packs to reveal your brand-new Binamon, with a chance for ultra-exclusive Binamons. Use them to play, trade your Binamons, or stake them to earn $BMON tokens.
Farms are systems where holders are rewarded for having certain types of Tokens. To do this, rewards are defined, which are given to everyone based on the number of tokens they contribute to the reward pool (farms).
To farm, you need to get the specific token needed for each specific farm.
Now let’s use the BMON-WBNB/BMON-Z1 farm as an example and break down what these numbers mean:
The first set of 2 tokens (BMON-WBNB) represents the tokens you’ll need to enter the liquidity pool. In this case, we’ll need BMON and WBNB tokens. The token after the forward-slash is the token you’ll earn, which is BMON-Z1.
You’ll also notice the ‘Rewards per block,’ how many BMON-Z1 tokens this particular liquidity pool will reward its stakers for each block of time.
There’s also the ‘End Block’ time, which indicates when the liquidity pool will close. You can see the exact time the pool will close by going to BscScan and inputting the end block on the top-right of the screen. In this case, the liquidity pool countdown can be found here.
And now for the part you’ve been waiting for—you can find the APY, or annual percentage yield, of each farm. To find out exactly what APY is, you can check out this article here.
Next: Adding Liquidity On PancakeSwap
Now that you’ve chosen the farm you want, let’s get those "liquidity pool" (LP) tokens!
Yep! You do have the tokens you’ll need, right? (In this case, BMON and BNB or WBNB.) If you don’t know how to buy the correct tokens, follow our simple guide.
Now we’ve got to “pair” them together and create Liquidity Pool tokens. No worries, the process is simple.
Once there, make sure your wallet is connected by clicking on the ‘Connect Wallet’ button on the top-right corner. After that’s done, click on the ‘Trade’ dropdown on the menu bar on the left, and click on ‘Liquidity.’
Once that’s done, you’ll likely be greeted with a screen that says “No liquidity found.”
That’s totally OK!
You don’t have any LP tokens yet, so let’s get to creating.
Click the ‘Add Liquidity’ button and select your first crypto asset for input. We’ll choose BMON in this case. Then, select your 2nd cryptocurrency. We’ll also choose BNB since we want to farm in the BMON-WBNB/BMON-Z1 pool. (You can also choose WBNB as the 2nd crypto asset for this pool since that also works.)
You’ll notice that PancakeSwap automatically chooses an equal amount of the 2nd crypto asset, since you’ll have to provide equal values of each token in the liquidity pool.
Once your tokens are chosen, hit the ‘Supply’ button to get your LP tokens!
To start farming, you’ll want to head on over to the ‘Rewards’ tab again, where you’ll see a list of different farming pools available.