BinStarter’s updated Tier System and Yield Farming is finally here! BinStarter R&D team worked day and night to provide transparent, fair, and lucrative staking opportunities for all BSR holders. All according to the demands of our loyal BSR investors.
New Tier System & Additional Pools
Pool 1 — min 500 BSR — Lock Period 24 Hours — Lottery Ticket
Pool 2 — min 2000 BSR — Lock Period 5 Days — Guaranteed Allocation
Pool 3 — min 4000 BSR — Lock Period 10 Days — Guaranteed Allocation
Pool 4 — min 8000 BSR — Lock Period 15 Days — Guaranteed Allocation
Pool 5 — min 16000 BSR — Lock Period 30 Days — Guaranteed Allocation
Pool 6 — min 32000 BSR — Lock Period 60 Days — Guaranteed Allocation
Pool 7 — min 64000 BSR — Lock Period 90 Days — Guaranteed Allocation
Pool 8 — min 128000 BSR — Lock Period 120 Days — Guaranteed Allocation
How Do New Staking Pools Work?
Stakers need to meet the minimum required BSR to enter the pool for IDO allocation.
For example, a user with 3000 BSR can stake in pool 2 as it meets pool 2 requirements.
UnStake Module and Warning
Please note the unlock period still starts when a staker unstakes their BSR holdings from the pools.
For example: If a user in Pool 2 decides to start the unstake process and clicks on the unstake button, the 5-day countdown timer starts. When the time is up, BSR becomes withdrawable. Users will continue to receive APY rewards during and after the unstaking process, up until their BSR is withdrawn.
WARNING: Allocation rights will be forfeited as soon as you start the unstake process. After unstaking, stakers cannot reverse the process or add more stake to the pool.
What Should I Pay Attention To?
- Each pool has different stake rewards, different allocations, and lock durations. Make sure you choose the pool that suits you best.
— Please make the right decision according to your investment strategy. When the unstake module starts, you lose the allocation rights. Even if you change your mind, you cannot use the same stake pool again before the time expires.
Stake Rewards and Emissions
New pools will continue to pay out high APY rewards, where 8 different pools are integrated with different APY rates and a common emission calculation. We are a community project so our priority will always be our community. According to our token plan, a sizable supply of tokens is dedicated to staking rewards. Therefore, APY rates will continue at the highest emission-based level. APY rates may automatically increase/decrease as the number of participants increases or decreases.
Note: BSR staking rewards were scheduled over a 20-months period starting from the launch date. We have rewarded our users with high APY in the last 10 months, and we will continue to pay our users the highest APY depending on the emission rate for the next 10 months. BSR rewards will be significantly reduced and BSR access will be severely restricted at the end of the following 10 months.
Allocation Rights of New Pools
In order to provide fair and an improved IDO investing experience, our team has created 2 new pools for our community members who are willing to invest bigger pools at Binstarter.
New pool weights are as follow:
Tier 1 — min 500 BSR— x
Tier 2 — min 2000 BSR— 2x
Tier 3 — min 4000 BSR— 4x
Tier 4 — min 8000 BSR— 8x
Tier 5 — min 16000 BSR— 16x
Tier 6 — min 32000 BSR— 32x
Tier 7 — min 64000 BSR— 64x
Tier 8 — min 128000 BSR— 128x
Unlike the old system, Tier levels will now be determined by the sum of the amount you stake in all pools and farming.
For example, if the user stakes 2000 BSR in Pool 2 and 6000 BSR in Pool 3, he will be entitled to buy from Tier 4 because he holds 8000 BSR in total. Each pool will distribute the stake reward according to the one that meets its requirement, while it will give the allocation right according to the total number of BSR that user holds in total.
Here is another example for users who will also join farming while staking in pools. Let’s say you stake 32000 BSR in Pool 6 and you have 16000 BSR + 10 BNB LP pair in farming.
In this condition;With a total of 32000 + 16000*2 = 64000, you will have the allocation right at Tier 7 level.
Those who put liquidity into the BSR/BNB pair through Pancakeswap can stake the tokens they receive from Pancakeswap to earn $BSR in the farming section of our https://bsr.binstarter.io/farm application.
Step by Step Farming Guide
- Login to pancakeswap site and connect to pancakeswap via metamask or trustwallet.
- From the “Trade” tab, click on the “Liquidity” tab
- Click on the "Select a currency" tab in the first section of the screen that comes up, and select "BNB".
- Click on the "Select a currency" tab on the below section and paste the BSR token address "0xab287e6d370c61f105630e656b5468acb4d00423".
- After this process, you can become a liquidation provider by entering the amount of BNB and BSR you want to farm. Remember; You must enter an equivalent ratio of BNB and BSR. For example, if you are adding $100 worth of BNB, you should also add $100 worth of BSR.
- And then click “Supply”, in order to put the liquidity.
- Once you click that it will show how many LP tokens you are getting. The number of LP tokens will be a set number by Pancakeswap according to how much liquidity you are providing.
- Then “Confirm Supply” on the popup.
- Then your integrated wallet will appear, and you will be asked to confirm the transaction.
- Once the transaction is complete you now have the LP tokens to be able to be staked and earn BSR rewards, through the liquidity mining program.
- Visit https://bsr.binstarter.io/farm with the LP token given to you by Pancakeswap.
- Press the Max button or enter the amount of LP you want to stake
- Press the Approve button, confirm from the wallet application you are using.
- After the transaction is confirmed, press the stake button and confirm it from the wallet application you are using.
Important Notes About Farming
- Each user can provide liquidation at any rate without a lower limit.
- Rewards will be withdrawable every 24 hours. This period will start again when you claim Rewards.
- Unstake time is 7 days. When the user presses the unstake button, the 7-day countdown timer will start
- You can view the instant LP value at https://bsr.binstarter.io/farm . You can calculate your earnings according to the current APY ratio by multiplying the number of LP that you have with the LP value.
General Info on Liquidity Providing
Before going to the next section of this guide, which will be about how to put liquidity, we would like to inform you on certain things regarding liquidity providing mechanisms:
- First of all, in order to provide liquidity you will always need to pair it up. This means that say if you want to put liquidity worth of 1000 BSR tokens, and let’s say, that is worth 500$ at the time you want to put liquidity, in order to pair it up, you will also need 500$ worth of BNB token (at the time of writing this is about 1,7 BNB).
- So whenever you are putting liquidity you should have the exact dollar value of each token paired, in order to provide liquidity. Let’s say you have less BNB in dollars when you are trying to put liquidity, then you will only be able to put the dollar amount equal to that, for example let’s say you have only 0.25 BNB, in this case the max amount of BNB you can put on liquidity would be diminished according to that.
- Also while providing liquidity you should understand the phenomenon of impermanent loss. While you are providing liquidity, what you are essentially doing is providing pairs to the market, so there can be liquidity when others are buying and selling. If one of the pair’s price goes up, or down, you will incur an impermanent loss. There are more guides online for understanding impermanent loss, as well as calculators you can use to understand how much impermanent loss would accrue, in case of uprises or declines in one of the pairs, in our case BNB and BNB.
- While impermanent loss is a thing, the liquidity mining program we have is to mitigate this, and help you earn more extra BSR tokens.
- While we have a high amount of BNB tokens rewarded from the liquidity mining program, these rewards will be distributed among all liquidity providers that are staking, so the APY and rewards will be according to how much of the percentage you have in the pool.
- However, the APY is not a set number, and the more liquidity gets staked in the liquidity mining program, the rewards will be divided among more liquidity providers, so while when you start the liquidity mining on the first day, the APY might be very high, it will start to decrease according to how much others are putting liquidity and staking. We share this for full transparency.
- The more liquidity there is, it also means a healthier market, with lesser volatility on each trade, so the more liquidity there will be trade by trade basis, impermanent loss will decrease.
BinStarter is a decentralized mining-style approval mechanism insurance protocol that is designed to examine projects according to certain criteria for 30 days and to protect liquidity providers against possible financial damages or any negativities.
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