Staking DEXE on Bancor v2.1 is now LIVE — start earning
Another great benefit DEXE token holders:
You’ve been asking for more ways to earn, and here is a big one. DEXE has just been whitelisted on Bancor v2.1. What this means is that you can avoid any risk of impermanent loss by keeping your investment fully in DEXE and still earn. Just stake your DEXE at Bancor and earn. As a welcome bonus, you will earn swap fees from Bancor too. Once again, it pays to be a loyal DEXE holder.
It looks like everybody loves DEXE since our token got whitelisted with more than 96% of “YES” votes and will have 200K BNT available for earning. That seems like a lot but… people love earning, so there will be plenty to want a piece of the action. The early bird does get the worm earlier here.
So now that you have this new opportunity to earn, don’t forget to use it. 🤩
The fact that it’s a single-asset earning mechanism (aka, DEXE only) means that token holders will not have to worry about price movements and impermanent loss. Deposit/withdrawal fees aside, you’ll take out as much as you deposited (plus all the earnings, of course).
As an overview, Bancor’s BNT Liquidity Mining (LM) program operates with two primary goals:
1 - Inject new liquidity into the existing Bancor pools;
2 - Incentivize long-term liquidity provision.
Bancor wants more liquidity for a more robust market. And it’s happy to pay for it (= liquidity provider fees for you). Of course, more fees results in a higher APY and more revenue for everyone. And that’s what makes it so attractive.
Note: Make sure to hold your DEXE in Bancor for at least 30 days to avoid the penalties of a 30-day cliff (i.e. an impermanent loss if you withdraw within the first 30 days).
To be exact, Bancor’s impermanent loss protection starts at 30% of your investment 30 days after your initial deposit and increases by 1% daily until it reaches 100%. Since you can still take out the same amount of DEXE (plus earnings) even a year from investing, it makes sense to just keep your DEXE there at least until 100% of the impermanent loss protection kicks in.
Ready to get started staking DEXE and earning more with Bancor? Learn more below.
Here is a quick guide [Full version here]:
- Go to app.bancor.network
- Connect your wallet
3. Find the DEXE/BNT pool and click the “+” button to add liquidity:
- REWARDS column: APR from BNT rewards (paid in BNT)
- APR column: APR from swap fees (paid in DEXE)
3. Select the DEXE token and the amount to stake
4. After confirming the transaction, you’ll be redirected to your Portfolio on bancor.network, where you can track each individual stake and the cumulative fees and rewards you’re earning:
For each individual stake in a pool, the bancor.network Portfolio page displays:
- “Initial Stake” — the total number of tokens initially staked
- “Protected” — the value of your position as if it has achieved full 100% protection
- “Claimable” — value available for withdrawal now. If IL has occurred, and the stake is less than 100 days old, Claimable will be lower than Protected
- Fees, BNT Rewards, ROI (Protected-Initial Stake/Initial Stake*100), APR and time until you’ve accrued 100% IL protection
About Bancor Protocol
The Bancor Protocol is a fully on-chain liquidity protocol that can be implemented on any smart contract-enabled blockchain. The Bancor Protocol is an open-source standard for liquidity pools, which in turn provide an endpoint for automated market-making (buying/selling tokens) against a smart contract.
Bancor Network currently operates on the Ethereum and EOS blockchains, but the protocol is designed to be interoperable for additional blockchains.
You can learn more about the specifications of Bancor Protocol and its implementation, and find various user guides and use case guides, as well as frequently asked questions in these docs:
About the Dexe Network
DeXe is the ultimate one-stop-shop for social trading in DeFi, including free tools available today. The DeXe ecosystem includes a number of services that together make life easier for DeFi traders, investors, and project in a holistic approach. For example, one DeXe ecosystem service protects new projects from sniping bots and other malicious actions. DeXe is the future of trading, today.
Make sure to follow all the Dexe Network socials, to not miss a thing:
Official telegram channel: https://t.me/Dexe_network
Official telegram EN chat: https://t.me/dexe_network_official_chat