DeFi — The Quick and Easy Guide to the Financial Revolution
I’m about to let you in on one of the greatest money hacks of all time. Do you understand what compound math is? If you don’t, it’s like printer goes brrr when applied to money management. What i’m about to show you is a little bit of that, combined with crypto and some crack…
Essentially you will be adding liquidity to an Automatic Market Maker with some interesting incentives and game theory that pays you in both exchange fees and cryptocurrency.
The process -> buy Expanse, send it to Metamask, add the Expanse network, access Eggswap, give permissions for Metamask to Eggswap, swap Expanse for Egg/WAGMI/BTFD/eBNB, add Expanse + Egg/WAGMI/BTFD/eBNB to the Liquidity Pool, stake the Liquidity Pool Tokens in the farm, earn and harvest Eggs, sell eggs for more tokens, add tokens to liquidity pool, stake liquidity pool tokens, earn and harvest more eggs, sell eggs for more tokens, add tokens to liquidity pool, stake liquidity pool tokens, earn and harvest more eggs, sell eggs for more tokens, add tokens to liquidity pool, stake liquidity pool tokens, earn and harvest more eggs, sell eggs for more tokens, add tokens to liquidity pool, stake liquidity pool tokens, earn and harvest more eggs, sell eggs for more tokens, add tokens to liquidity pool, stake liquidity pool tokens, earn and harvest more eggs, sell eggs for more tokens, add tokens to liquidity pool, stake liquidity pool tokens, earn and harvest more eggs, sell eggs for more tokens, add tokens to liquidity pool, stake liquidity pool tokens, earn and harvest more eggs, sell eggs for more tokens, add tokens to liquidity pool…
Quick Links:
First step. Acquire some Expanse — the first stable clone of Ethereum fairly launched by American developers in 2015… Yo you got some of that Expansiummmm??
Get an account on Bittrex, HitBTC, Graviex, or Dove Wallet — these are exchanges which have Expanse and Bitcoin trading pairs. You will need bitcoin to deposit to the exchange, to then be able to trade for Expanse. Bittrex also has a credit card option, so that can be an easier on ramp sometimes.
If you don’t have Bitcoin already, you can purchase from Coinbase, or preferably peer to peer with a friend or trusted associate.
Next Step. Get Metamask as an extension on your browser. Visit the official webpage https://metamask.io to download the client.
Important Step* You will need to save the seed phrase somewhere that you will never ever lose it and will never ever be found by someone else. Write it on a piece of paper and put it in a safety deposit box, or encrypt it in a piece of art, or bury it under your house, or tattoo half of it inside your leg and the other half inside your butt cheeks — security is important….
Add Expanse Network to Metamask. To be able to interact with the Expanse blockchain, Metamask will need to be connected to the Expanse network. Simply follow these steps to do that:
- Click on the Networks tab and go to ‘Custom RPC’.
- Network Name: Expanse
- RPC URL: https://node.expanse.tech
- Chain Id: 2
- Symbol: EXP
- Block Explorer: https://expansscout.com
Send Expanse to Metamask. After you acquire some Expanse from an exchange, or mining, or whatever, you can easily send it to your metamask wallet by using the address associated with your account. Looks something like this — 0xD834a6908148dC639C534f3f2276C17389B6249c. Think of it like your email address or telephone number for your expanse/metamask wallet.
Connect to EggSwap. Access the DeFi Yield Farm, Eggswap (https://www.eggs.cool) and give permissions to your metamask to allow interactions between the wallet and the eggswap pool, farm and exchange.
Swap Expanse for Tokens. In order to add liquidity to the liquidity pool, you will need to have a token pair. If you want to stake your liquidity in the farm, you will need a token pair that can be staked in the farm — such as EXP/EGG, EXP/eBNB, EXP/WAGMI, EXP/BTFD.
Go to the swap (also known as decentralized exchange) and choose the tokens you want to swap between. You will need an equal weight in value to add to the liquidity pool so dont sell all of your Expanse.
Quick link for the swap: https://www.eggs.cool/ex/#/swap
Add Liquidity to Liquidity Pool. Choose the tokens and the amount you want to add to the pool. Click approve then click supply, and you will receive liquidity pool tokens which correspond to the tokens you put in relative to the weight and fluctuations of price. Once you have added the tokens to the pool, you will earn a share of the .3% exchange fees from the swap.
Quick link for the liquidity pool: https://www.eggs.cool/ex/#/pool
Stake Liquidity Pool Tokens in the Eggswap Yield Farm. Select the farm for the token pair liquidity pool tokens you intend to stake. Click on ‘Approve EGG/WEXP ELP’, confirm the request in your metamask. Next click the ‘+’ button and enter the number of liquidity pool tokens to be staked, then click confirm and approve the request in your metamask.
Quick link for the yield farm: https://www.eggs.cool/farms
Harvest the Eggs. After some time, a few hours or days or whenever, go to the farm that has the staked liquidity pool tokens, and click the ‘Harvest’ button. Confirm the request in your metamask. Eggs will now transfer from the farm to your wallet which can now be used for other transactions.
Compound the Eggs. Go to the swap and exchange the Eggs for Expanse and other tokens, then add those tokens in the liquidity pool to receive more liquidity pool tokens, then add the liquidity pool tokens in the farm, then harvest more eggs, then swap the eggs for more expanse and other tokens, then add those tokens in the liquidity pool to receive more liquidity pool tokens, then add the liquidity pool tokens in the farm, then harvest more eggs, then swap the eggs for more expanse and other tokens, then add those tokens in the liquidity pool to receive more liquidity pool tokens, then add the liquidity pool tokens in the farm, then harvest more eggs, then swap the eggs for more expanse and other tokens…
If you have any questions, you are more than welcome to join our telegram group and ask the community — https://t.me/wagmi_io
