Say you had a lot of MINT tokens but no BNB. That all sounds amazing… but there is a downside too. The fees you’ve received become the liquidity you provide later, getting you more fees and so on. People are incentivized to do this because they get a percentage of the transaction fees… and because the fees you get automatically go into your own liquidity pool, then it starts compounding. Pros and Cons of DeFiĭeFi solves this issue by allowing people to provide an equal amount of both tokens… in this case MINT and the Binance coin. On cryptocurrencies like Bitcoin, Ethereum and the Binance Coin this isn’t too hard because there are a few platforms that will trade and lots of people to trade with at any time.įor far less popular tokens it can be a huge hassle to find enough liquidity. The buyer and seller have to agree on the price and how much is to be sold. Usually if someone wants to buy crypto… they have have to find a seller. The important thing to note here is that you have to have the same amount of value in BNB than you do in MINT tokens, ie, if you have $10 worth of MINT tokens then you need to have at least $10 worth of BNB.īy providing liquidity you are providing both sides of the pairing… both MINT and BNB. If you’re not familiar with DeFi then this might be a fairly painless way to get involved. What to do with your Mint Club airdrop? Add it to the liquidity pool and earn transaction fees! This will take you to PancakeSwap where you can swap MINT for BNB… it’s really the only pairing at the moment.Īdd your MINT tokens to the liquidity pool Personally I can’t imagine a situation where the MINT token does not increase in price as more people discover just how super easy it is to create their own token (community, governance, social, etc) – but if you’re keen to sell off your airdrop and be done with MINT, then click on the little PancakeSwap button on the Mint Club Explorer page. You can see the current price of MINT in the Mint Club Explorer page… Source What to do with your Mint Club airdrop? Sell it! Sell your MINT tokens for BNB (Binance Coin) Add your MINT tokens to the liquidity pool.Let’s go through some options… ( clicking any of these dot points will zoom you to the relevant section) So hopefully you’ve found them… now what? If you don’t have MINT listed in MetaMask (if that was your wallet you initially chose) at all, click on the little FireFox button in the Mint Club Explorer to add it. I didn’t have to do anything… they just appeared. For me that was MetaMask and so I was able to see my airdropped MINT tokens in Binance Smart Chain network. If you haven’t looked yet, check out the BSC wallet that you attached. I encouraged people to apply for the airdrop that would have paid out around the first week of July. It feels like every day something new and exciting has appeared. It launched at the start of this month… and the progress and development as well as the community uptake of this platform have just been incredible.
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