Farm $MYTV
What are "LP" tokens ?
Liquidity Provider tokens or "LP" tokens are tokens issued to liquidity providers on a decentralized exchange (DEX) that run on an automated market maker (AMM) protocol.
Staking LP tokens to earn further rewards as a way to incentivize LPs to lock their liquidity into pools. This is called “farming.”
Prerequities
The first liquidity pool is MYTV / BNB (trading pair)
Make sure you have MYTV and BNB tokens in your wallet
To get your LP Tokens, you'll need to provide liquidity for that trading pair at an instant 1:1 ratio
How to get "LP" tokens ?
Add the amount of BNB and MYTV you want to provide to the liquidity pool
Note: For the first use, you'll have to "Enable" the LP contract and confirm the transaction
Add "Supply" to the liquidity pool and confirm the transaction
You will share a certain % of the liquidity pool and get a certain amount of BNB/MYTV Pool Tokens called "LP Tokens" (0.0000000138998 LP Tokens in the example above)
Note: You can add "0x4b205ECF6c71C8731142382BE4d923d302738B56" LP contract address in your wallet to see the LP tokens balance (Don't worry if you see "Cake-LP", it's a bug display)
How to stake "LP" tokens ?
Go to MyTVchain Dashboard : https://token.mytvchain.io/farming
VOCABULARY
APY = Annual Percentage Yield (compound) - 245687%
Example (245687%) - If you stake 100$ worth of LP tokens, and if you compound your rewards every 3 seconds (time block) you'll earn 245587$ net worth of LP tokens in a year (clearly unreachable).
APR = Annual Percentage Rate (strict) - (550%)
Example (550%) - You stake 100$ worth of LP tokens, you'll earn 450$ net worth of LP tokens in a year.
TVL = Net value ($) in the farming pool (BNB + MYTV)
Stake your LP tokens and farm $MYTV
Click on "FARM"
Input the amount of LP tokens you want to add to the farming pool
"APPROVE" the Farming pool contract and confirm the transaction
Finally click on "FARM" to send your tokens in the farming pool
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