Phantom BSC Mainnet Mining Rewards Tutorial
The Phantom team is pleased to announce the launch of the BSC Mainnet version on: https://bsc.phantom.finance/.
Follow this step-by-step guide to earn Builder’s Reward and Liquidity Mining Rewards.
3 simple steps
- Build pUSD with PHM (keep collateral ratio > 800% to earn builders’ reward)
- Add pUSD-USDT liquidity on PancakeSwap
- Stake LP token on Phantom to earn liquidity Mining Rewards
To begin with, you just need:
- A BSC Wallet: Metamask, Binance Wallet, or Wallet Connect.
- A Few PHM tokens ( Buy on PancakeSwap)
- A Few BNB for gas fee
If you have everything ready, Let’s get started.
Phantom BSC Mining Tutorial
1. Build pUSD with PHM
Next, we will create a synthetic asset called pUSD (an on-blockchain asset whose price mimics the movement of USD) with PHM on https://bsc.phm.finance/build
To begin, click the “Connect” button in the top right corner to connect your BSC wallet.
Enter the number of PHMs you want to use or the number of pUSDs you want to create in the Mint panel. If you click the “MAX” button under Build pUSD, the system will automatically fill in the maximum number you can create.
Note: The collateral rate can also be manually adjusted. In the experience period, it is recommended to set the collateral rate above 800% to receive an additional PHM bonus.
Click “Approve” and confirm in your wallet, then continue to mint.
Confirm the mint request in your wallet.
Congrats! You’ve made it halfway and are ready to move on to the last step.
2. Add pUSD-USDT liquidity on PancakeSwap, and stake LP token on Phantom
This final step will teach you how to use your pAsset holdings to earn liquidity mining rewards.
In short, we will first go to PancakeSwap to add liquidity to the pUSD-USDT pair, and then stake the LP Token to Phantom’s mining pool.
1) Go to https://bsc.phm.finance/my page and scroll down to the Farm section. To add liquidity, click the “…” button and then select “Provide.”
2) After clicking the “Provide” button, you will jump to PancakeSwap, where you can form USDT and pUSD into pairs and then add liquidity.
Enter the amount or simply click MAX to have the quantity filled automatically.
3) Click “enable USDT” and confirm in the wallet.
Then do it again with the “Enable pUSD” button and confirm in the wallet as well.
4) After enabling USDT & pUSD，Click“Supply” to add liquidity.
Confirm Supply and confirm in your wallet.
You will have LP Tokens in your wallet after successfully adding liquidity, and you can return to Phantom to complete the final Staking step.
3. Stake USDT-pUSD LP tokens on Phantom
1) Go to https://bsc.phm.finance/farm/USDT-pUSD, approve & stake your USDT-pUSD LP tokens.
2) Click Approve and confirm in the wallet.
3) Then click the “Stake” button and confirm in the wallet.
4) When you see the window below, it means you’ve completed all steps for mining.
Some information that you might find useful
- How to add the PHM token to my wallet？
If you can’t see the PHM token in your wallet after purchase, please manually import it with 0x4399AE7538c33cA24edD4C28C5dd7Ce9a80acF81
2. How do I seek assistance if I run into difficulties during my experience?
If you encounter any problems during the test, please give us feedback in the telegram group, the Phantom community members will be happy to help.