Blockchain innovations: Netbox.DeFi release and NBXB Farming

With our native NBXB token available for trading on Pancakeswap, it’s now time to introduce our Yield Farming program!

Yield Farming Details

  • Month 1: 300,000 NBXB
  • Month 2: 300,000 NBXB
  • Month 3: 300,000 NBXB
  • Last 10 days: 100,000 NBXB

Yield Farming Requirements

  • A BEP-20 compatible wallet like Metamask, TrustWallet etc.;
  • Some NBXB tokens;
  • Some WBNB or BNB (BEP-20) tokens.

Step-by-step guide

  1. For adding liquidity to the NBXB/WBNB(BNB) pool, please visit here:
Adding liquidity to NBXB/BNB Pool.
Select Binance Smart Chain Network.
  1. Click “Approve” button and confirm the transaction with your BSC wallet (Ensure that you have enough BNB to pay the transaction fee = ~0.0003 BNB).
Approving the NBXB pool.
Adding LP tokens to Farming pool.
Staking LP tokens in Farming pool.

Warnings regarding Liquidity Providing

  • In order to provide liquidity you always need to provide the same value of both tokens. For example, if you want to put a liquidity worth of 100 NBXB tokens, and which is worth 50$ at that time, you also need to provide 50$ worth of BNB tokens.
  • While providing liquidity you have to understand the phenomenon of impermanent loss. Impermanent loss happens when the price of your tokens changes compared to when you deposited them in the pool. The larger the change is, the bigger the loss.
    So why do liquidity providers still provide liquidity if they’re exposed to potential losses? Well, impermanent loss can still be counteracted by trading fees. In fact, even pools that are quite exposed to impermanent loss can be profitable thanks to the trading fees.
  • While we have a large amount of NBXB tokens reserved for the liquidity mining program, these rewards will be distributed among all liquidity providers, so the APY and rewards will change accordingly.
  • Final Note: The larger the liquidity, the healthier the market. This means less volatility on each trade, with the risk of impermanent loss decreasing drastically.

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