SeaDEX Yield Farming is now LIVE
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The current situation of the cryptocurrency market is still uncertain. However, we are still working and will continue to develop SeaDEX. Last week, we released the SeaDEX Staking Pool. Now, Farming will be ready to use!
Of course, this is only the beginning. Staking and Farming are two features that will start SeaDEX’s journey to continue building. Holders can now farm by becoming a liquidity provider, and earn extra income on the way.
Here are some important things you need to know to farm on the SeaDEX platform:
- To stake you just need to visit: https://www.seadex.finance/farms
- Make sure you have BNB for transaction fees and SEAX for farming. Otherwise, you can buy SEAX at: https://www.seadex.finance/swap
- Next, you need to add liquidity here: https://www.seadex.finance/add
- If you have added liquidity, you will have SEAX-BNB LP token. This token will then be used for farming. Alias, you can stake this token and earn extra income. It should be noted, by providing liquidity you will be exposed to the risk of impermanent loss, learn more about it in this article.
- The rewards you receive are calculated based on the APR within one block. One block on the BSC network lasts about 3 seconds. So in that time span you can see your SEAX number increase.
- Regarding APR, it is calculated based on 10 million SEAX tokens distributed as rewards within one year for Pool and Farming. 1/3 of the total reward will be distributed for Pool and the rest for Farming. This is because our farming and pool is forked from PancakeSwap. However, we plan to change this scheme in the future so investors and community can benefit more from the SeaDEX Staking Pool.
- The total LP token being staked and the SEAX price also determine the APR amount. Therefore, the APR is still subject to change. The market situation and the number of staked LP tokens will be taken into consideration when increasing or decreasing the APR.
- To unstake in the first iteration, you need to collect first, then harvest. Then you can make a withdrawal.
Additional info, for farming, our team really considers how many investors will do farming. If the number of investors doing farming is small, we will reduce the rewards, because we understand there is a risk of impermanent loss and most of the farming is done by the team themselves. Therefore, we will look at farming performance to determine whether there is a need to reduce rewards in the future.
Staking and farming have been released. In the near future we will also release Info & Analysis. Furthermore, the team is preparing a new roadmap to deal with the bearish market situation.
While other projects tend to stagnate, we will be aggressive in hiring in the near future. If you are someone who is interested in the crypto world and would like to contribute more, please contact our team. We are currently in need of additional members to execute our various plans in the midst of an uncertain market situation.