As always, exercise caution when working with 3rd party technologies, educate yourself regarding the risks involved and read all security audits.
2) Add liquidity to the ORBS-BUSD pool
(0:54 – 3:05)
After you have your BEP20 ORBS tokens, you are now ready to add liquidity to the ORBS-BUSD pool (note that you’ll need to also supply BUSD in equal value to the ORBS tokens).
Once you supply liquidity to the pool, you will receive your BUSD-ORBS LP tokens, which you’ll be able to use in the next step.
3) Farming CAKE with LP tokens
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Next, the LP tokens received from adding liquidity to the ORBS-BUSD pool can be used to farm CAKE tokens. Once you have begun farming, you will start to accumulate CAKE tokens which can be harvested periodically.
4) Earn ORBS by staking CAKE
(4:47 – 6:25)
The harvested CAKE tokens can now be staked in the Orbs Syrup Pool to earn ORBS.
And that’s it! You have become a DeFi Farmer, as easy as that!
The Orbs Syrup pool campaign will last 60 days with a total of 6.73M ORBS tokens available for farming.
So what are you waiting for?
Give it a try and join this awesome campaign!
Even though this initiative has just begun, we can already draw some initial assessments –
Three of the objectives of the initiative were to reach a new user base on BSC,incentivize Orbs migration to BSC and provide liquidity to Orbs pools.
Here are some screenshots from the top of the page of the PancakeSwap UI:
We can see that the Orbs farm is featured at a very central place on the PancakeSwap Farms and Syrup Pools webpages. In addition, PancakeSwap has also posted a couple of tweets, such as this one, announcing the launch of the Orbs Syrup Pool which received a lot of attention. All in all, we can see very positive community engagement with the initiative from the BSC users.
With regards to incentivizing Orbs migration to BSC, we can see a dramatic increase in ORBS tokens being moved to the BSC network. The amount has increased from around 800k before the Syrup campaign, to just under 35M to date! Another parameter to watch is the number of addresses holding Orbs which grew from less than 100 to just under 1,000 during this time, a x10 increase!
Lastly, the ORBS-BUSD pool has over $2M in TVL, as of writing this blog post. This makes it the most liquid pool for ORBS on any DEX, both on Ethereum and BSC!