Everything You Need to Know About the Orbs Syrup Pool on PancakeSwap

Eran Peled
Eran Peled

|

3 months ago

blog

Orbs and PancakeSwap recently launched the Orbs Syrup Pool.

The Orbs Syrup pool on PancakeSwap enables Orbs liquidity providers to farm CAKE tokens and in addition, stake CAKE tokens to earn additional ORBS.

This initiative is an important first milestone to gain a stronger foothold for Orbs on Binance Smart Chain.

Read the full campaign details here.

A Short Tutorial Video The following short video will show you everything you need to know on how to participate in the Orbs Syrup Pools on PancakeSwap:

The process includes 4 main steps:

  1. Migrate ERC20 ORBS tokens on Ethereum to BEP20 on BSC (0:16 – 0:54)

The first step you’ll need to do is to migrate your ORBS tokens from Ethereum to BSC. This can be done using a cross-chain bridge such as multichain.xyz. Read this blog post for more information.

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You can find the bridged ORBS token contract on BSC here:

https://bscscan.com/token/0xebd49b26169e1b52c04cfd19fcf289405df55f80

As always, exercise caution when working with 3rd party technologies, educate yourself regarding the risks involved and read all security audits.

  1. 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).

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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.

  1. Farming CAKE with LP tokens (3:05 – 4:47)

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.

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  1. 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.

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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!

Exceeding Expectations

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:

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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!

All things considered, a very good start!

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