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We’re excited to announce that BEN Governance has officially launched on xDAI and what better way to inaugurate this than to announce the extension of our xBEN liquidity mining program?!
BENcoin is our official community token. It’s our way of rewarding students and the community for their contributions. It’s also a way to support BEN and to have a say in BEN’s initiatives through our DAO.
Token liquidity is an important part of any DAO, and we are excited to experiment with rewarding liquidity providers.
This walkthrough will serve as a guide to begin participating in BEN’s liquidity mining program and what you can expect moving forward.
Here is the link to setting up MetaMask along with how to add the xDAI network to your MetaMask:
xDAI Network Details:
Network Name: xDai
New RPC URL: https://rpc.xdaichain.com/
Chain ID: 0x64
Symbol: xDai
Block Explorer URL: https://blockscout.com/xdai/mainnet
Pro Tip: Before going to Omnibridge, make sure you’ve swapped your ETH to WETH! We highly recommend doing so thru matcha.xyz
Once you’ve obtained some WETH, go to Omnibridge.
If this is your first time using Omnibridge, you’ll first need to connect your wallet.
You can do so by tapping on the ‘Connect’ button and select which wallet you’re using (we’ll be using MetaMask for this walkthrough).
Upon selecting which wallet you’re using (e.g. MetaMask), you’ll be navigated to the Omnibridge interface.
You’ll notice there are two key section: (1) ‘From’ and (2) ‘To’
Since we are sending (bridging) our WETH FROM ETH Mainnet over TO the xDAI network proceed to arrange your set up as presented below:
Go ahead and enter the amount of WETH you’d like to transfer under the ‘From’ section.
The equivalent amount will populate under the xDAI Chain (‘To) section.
In order to proceed with the transfer, you’ll first need to unlock your WETH by tapping/clicking on ‘Unlock’.
Lastly, once the ‘Unlock’ transaction is confirmed, you can continue the transfer process by tapping/clicking ‘Transfer’.
After receiving your WETH, head over to Swapr.
If you’re familiar with the Uniswap interface, you’ll notice that Swapr offers a near-identical approach.
In order to participate in the BEN’s liquidity mining program, you’ll first need to get some BENcoin to start.
Luckily, you’ve already transferred some WETH! As you would on Uniswap, in the ‘From’ section, tap on the drop down menu and select WETH as the asset you’d like to exchange for BEN.
Under the ‘To’ section, you may have a hard time searching for $BEN since it is not a whitelisted asset on Swapr’s token list.
As an alternative, proceed to copy & paste the token’s contract address into the search bar.
BEN contract address: 0x33198acCA4b0EB6d9134eC8639c1C142102A07b7
After you’ve selected both assets, enter the amount of WETH you’d like to swap for BEN
2 Reminders:
In order to provide liquidity to the BEN/WETH pair you’ll need a 50:50 ratio of both assets.
Similar to how we use ETH to pay gas fees on the Ethereum Mainnet, xDAI is the primary asset used to pay for gas fees on the xDAI Network. So, make sure you have some before continuing.
Execute the exchange by tapping/clicking ‘SWAP’.
If you’ve made it this far, congratulations you’re officially a $BEN token holder!!
Now in order to begin earning some more $BEN, you’ll need to add some liquidity to the BEN/WETH pair and stake the BENWETH LP token.
Tap on the ‘Pairs & Rewards’ tab located in the top left section of the screen. You’ll then be redirected to Swapr’s Pairs page.
Tap on the drop down menu (where it shows “ALL”), paste the BEN token address in the search bar and select BEN.
Immediately you’ll see the BEN/WETH pair display.
Proceed to tap on the BEN/WETH module where, in doing so, you’ll be navigated to the BEN/WETH page.
Scroll down until you see the ‘Add Liquidity’ button - continue by tapping on ‘Add Liquidity
’ While on the ‘Add Liquidity’ screen, enter the proportionate amount of BEN (or WETH) you’d like to supply to the BEN/WETH pair then tap/click ‘SUPPLY’
By tapping ‘SUPPLY’, a confirmation module will appear; displaying the amount of BEN/WETH Pool Tokens you will receive along with the corresponding pool share you now hold.
Tap/Click on ‘CONFIRM SUPPLY’ and pay the associated transaction (gas) fee.
After the transaction is confirmed, return to the BEN/WETH pairs page and tap on the BEN/WETH module under ‘Active Rewards’.
Proceed to stake your BEN/WETH Pool Tokens by tapping/clicking on ‘Deposit and Stake’
Enter the amount of BEN/WETH Pool Tokens you’d like to stake
Approve your BEN/WETH tokens by tapping/clicking on ‘BEN/WETH Approve’
Complete the staking process by tapping/clicking on ‘Confirm’
You are now not only a confirmed BEN token holder but also a BEN token yield farmer!!** **
What can I do with these BEN tokens?
** Via the BEN DAO Snapshot page, you will be able to vote on active proposals within the BEN community! We will be voting on things like travel and visa scholarships for students to attend blockchain conferences and management of BEN’s treasury, as well as on meta-proposals from Uniswap, Aave, Gitcoin, Ampleforth, and more submitted through BEN’s Meta-Delegate program.**
Go ahead and join the BEN DAO Snapshot page here: https://snapshot.org/#/bendao.eth/
----
🚀 How do you join the revolution? 🚀
*✉️ Sign up for access to resources like free event tickets, job opportunities, and educational blockchain content.
💓 Show our social media some love — Upvote our post and follow us on Twitter and Instagram.**
We’re excited to announce that BEN Governance has officially launched on xDAI and what better way to inaugurate this than to announce the extension of our xBEN liquidity mining program?!
BENcoin is our official community token. It’s our way of rewarding students and the community for their contributions. It’s also a way to support BEN and to have a say in BEN’s initiatives through our DAO.
Token liquidity is an important part of any DAO, and we are excited to experiment with rewarding liquidity providers.
This walkthrough will serve as a guide to begin participating in BEN’s liquidity mining program and what you can expect moving forward.
Here is the link to setting up MetaMask along with how to add the xDAI network to your MetaMask:
xDAI Network Details:
Network Name: xDai
New RPC URL: https://rpc.xdaichain.com/
Chain ID: 0x64
Symbol: xDai
Block Explorer URL: https://blockscout.com/xdai/mainnet
Pro Tip: Before going to Omnibridge, make sure you’ve swapped your ETH to WETH! We highly recommend doing so thru matcha.xyz
Once you’ve obtained some WETH, go to Omnibridge.
If this is your first time using Omnibridge, you’ll first need to connect your wallet.
You can do so by tapping on the ‘Connect’ button and select which wallet you’re using (we’ll be using MetaMask for this walkthrough).
Upon selecting which wallet you’re using (e.g. MetaMask), you’ll be navigated to the Omnibridge interface.
You’ll notice there are two key section: (1) ‘From’ and (2) ‘To’
Since we are sending (bridging) our WETH FROM ETH Mainnet over TO the xDAI network proceed to arrange your set up as presented below:
Go ahead and enter the amount of WETH you’d like to transfer under the ‘From’ section.
The equivalent amount will populate under the xDAI Chain (‘To) section.
In order to proceed with the transfer, you’ll first need to unlock your WETH by tapping/clicking on ‘Unlock’.
Lastly, once the ‘Unlock’ transaction is confirmed, you can continue the transfer process by tapping/clicking ‘Transfer’.
After receiving your WETH, head over to Swapr.
If you’re familiar with the Uniswap interface, you’ll notice that Swapr offers a near-identical approach.
In order to participate in the BEN’s liquidity mining program, you’ll first need to get some BENcoin to start.
Luckily, you’ve already transferred some WETH! As you would on Uniswap, in the ‘From’ section, tap on the drop down menu and select WETH as the asset you’d like to exchange for BEN.
Under the ‘To’ section, you may have a hard time searching for $BEN since it is not a whitelisted asset on Swapr’s token list.
As an alternative, proceed to copy & paste the token’s contract address into the search bar.
BEN contract address: 0x33198acCA4b0EB6d9134eC8639c1C142102A07b7
After you’ve selected both assets, enter the amount of WETH you’d like to swap for BEN
2 Reminders:
In order to provide liquidity to the BEN/WETH pair you’ll need a 50:50 ratio of both assets.
Similar to how we use ETH to pay gas fees on the Ethereum Mainnet, xDAI is the primary asset used to pay for gas fees on the xDAI Network. So, make sure you have some before continuing.
Execute the exchange by tapping/clicking ‘SWAP’.
If you’ve made it this far, congratulations you’re officially a $BEN token holder!!
Now in order to begin earning some more $BEN, you’ll need to add some liquidity to the BEN/WETH pair and stake the BENWETH LP token.
Tap on the ‘Pairs & Rewards’ tab located in the top left section of the screen. You’ll then be redirected to Swapr’s Pairs page.
Tap on the drop down menu (where it shows “ALL”), paste the BEN token address in the search bar and select BEN.
Immediately you’ll see the BEN/WETH pair display.
Proceed to tap on the BEN/WETH module where, in doing so, you’ll be navigated to the BEN/WETH page.
Scroll down until you see the ‘Add Liquidity’ button - continue by tapping on ‘Add Liquidity
’ While on the ‘Add Liquidity’ screen, enter the proportionate amount of BEN (or WETH) you’d like to supply to the BEN/WETH pair then tap/click ‘SUPPLY’
By tapping ‘SUPPLY’, a confirmation module will appear; displaying the amount of BEN/WETH Pool Tokens you will receive along with the corresponding pool share you now hold.
Tap/Click on ‘CONFIRM SUPPLY’ and pay the associated transaction (gas) fee.
After the transaction is confirmed, return to the BEN/WETH pairs page and tap on the BEN/WETH module under ‘Active Rewards’.
Proceed to stake your BEN/WETH Pool Tokens by tapping/clicking on ‘Deposit and Stake’
Enter the amount of BEN/WETH Pool Tokens you’d like to stake
Approve your BEN/WETH tokens by tapping/clicking on ‘BEN/WETH Approve’
Complete the staking process by tapping/clicking on ‘Confirm’
You are now not only a confirmed BEN token holder but also a BEN token yield farmer!!** **
What can I do with these BEN tokens?
** Via the BEN DAO Snapshot page, you will be able to vote on active proposals within the BEN community! We will be voting on things like travel and visa scholarships for students to attend blockchain conferences and management of BEN’s treasury, as well as on meta-proposals from Uniswap, Aave, Gitcoin, Ampleforth, and more submitted through BEN’s Meta-Delegate program.**
Go ahead and join the BEN DAO Snapshot page here: https://snapshot.org/#/bendao.eth/
----
🚀 How do you join the revolution? 🚀
*✉️ Sign up for access to resources like free event tickets, job opportunities, and educational blockchain content.
💓 Show our social media some love — Upvote our post and follow us on Twitter and Instagram.**
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