Friends! Everyone now knows that we have launched NMX DeFi. But many still do not understand the mechanics of farming. In fact, everything is quite simple, but there are some nuances. In this guide, we will tell you step by step how to farm NMX tokens.
First, to get started, you just need to:
- Have an account on Nominex. You can register here.
- Have an account on Binance. You can register here.
- Have a decentralized wallet (in this case, we are considering Metamask, but the actions is the same, even if the wallet is different). Here we tell you how to get such a wallet.
Now let’s move on to the action plan:
1. After registering on the exchanges and registering a decentralized wallet, we will need 3 currencies: USDT( BEP-20), NMX and BNB.
IMPORTANT! The wallet must be converted to a format that supports BEP-20 tokens. How to do this, as well as add custom tokens using smart contract addresses, is described here.
2. USDT of the BEP-20 type can be purchased on Nominex in the near future, but for now these coins can be purchased on Binance together with BNB. It’s not difficult. Just buy for any other cryptocurrency or fiat.
3.Next, the purchased tokens must be sent to a decentralized Metamask wallet or trust wallet. How? Described in the guide above. Why do we need these tokens? BNB is needed to pay commissions on the BSC blockchain, and USDT is needed for a swap (exchange) on NMX. But let’s talk about it step-by-step.
Let’s assume that you have already got USDT and BNB, and now they are on your wallet. For example, like this.
- Now go to Nominex, log in and open the My NMX tab
- In the upper right corner, select the Connect Wallet button:
- Next, we see the connection window, select the desired wallet (we have Metamask) and confirm the connection.
- For the first time, an additional signature window will appear, for receiving bonuses for staking. Click on the confirmation again.
After a successful connection, we will see our balance in USDT and NMX at the top right, and the swap window below. Let’s go there.
If you click on the amount at the top, we will see how much NMX we will get if we swap the entire amount of USDT. But it is better not to do this, because an equal amount of USDT and NMX is needed for the liquidity pool. So you need both in halves.
So determine how much money you want to place in the pool, divide by two and confirm the swap. That is, if I have 9.2 USDT, then I will swap 4.6 USDT on NMX. (the current rate was almost 1:1)
- The confirmation window will appear again:
- And also the Metamask window, where you need to confirm and pay the commission. On the BSC blockchain, it is small 🙂
- If everything is correct, you will see a window about a successful transaction.
- Now you will have a certain number of NMX tokens on your Nominex balance:
- Below you will see statistics on how many NMX tokens you have, as well as where they are placed.
Time to go to the liquidity section!
Here you will see how many liquidity tokens you have received, as well as your share of the total liquidity pool.
- On the right, there will be another window for adding assets to the pool. Select the desired token ratio (it will be calculated automatically) and click on the “Approve NMX” button.
- The already familiar confirmation window will appear on the screen again:
- Click on the signature confirmation button again:
Voila! The USDT and NMX tokens were sent to the pool. Easy breezy. How do you check it?
Now you will have NMX-LP liquidity tokens on your account, which just confirm the placement of assets in the pool.
But this is not the end of the road. We still want to set up the personal farming of NMX tokens, don’t we?
Then go to the following tab.
- In the window on the right, select the maximum number of NMX-LP tokens:
- And add it to the staking.
- We confirm the operation with an electronic signature as an intention to seal the funds in the smart contract.
And again. This is the last confirmation that requires payment by gas.
Next, you will see a notification window that you have successfully staked NMX-LP tokens.
- Sit back and enjoy your passive earnings. Hurray!