bALBT/BNB Liquidity Mining Pool on Binance Smart Chain with PancakeSwap is live

For our dear community, you may now earn CAKE (Native token of PancakeSwap) rewards with your bALBT.

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After reaching $1.8 million in liquidity on the first bALBT/ETH pool on Binance Smart Chain in only 48 hours, AllianceBlock announces a second pool with bALBT/BNB on PancakeSwap giving extra rewards to CAKE holders.

This new liquidity pool represents the next step in bringing the AllianceBlock and Binance communities closer together and creating more opportunities for both.

AllianceBlock and Binance Smart Chain partnership continues

After the successful launch of the first ALBT liquidity pool on Binance Smart Chain via PancakeSwap (bALBT/ETH pool address: https://bscscan.com/address/0xf20334d7529bcd485dcfbf3be9ca6f1005bd6125) with a liquidity reaching above a stunning 1,800,000 USD we continue the path and bring even more liquidity to Binance Smart Chain by adding a bALBT Syrup Pool with over $100,000 worth.

The shared pool with Pancake Swap gives an additional incentive for those staking CAKE and seeking extra rewards. It presents a unique opportunity to raise more awareness for AllianceBlock within the huge PancakeSwap community and is a great extension to already existing liquidity pools on Uniswap and Balancer (more to come).

Well integrated in the Binance Smart Chain ecosystem, PancakeSwap has a vivid community potentially contributing to the growth of the AllianceBlock Liquidity Mining Program. With over 60.000 followers on Twitter and 15.000 members on Telegram, the protocol has a lot of supporters that can now earn rewards in bALBT and CAKE.

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Current Status of AllianceBlock Liquidty Mining Program including supported networks, protocols and liquidity mining partners

bALBT/BNB Liquidity Mining Pool details

In order to host the bALBT Syrup Pool, we will need to provide a bALBT-BNB farm that will have 2x CAKE rewards for the first 48 hours and then 1x CAKE rewards after that.

Breakdown

  • 94.5 reward power splitting 10 CAKE per block.
  • 28,800 blocks per day (@ 3 secs per block)
  • 0.1058201058 CAKE per block per 1 reward power
  • 3,047.619048 CAKE per day per 1 reward power ($1,980.952381@ 1 CAKE = $0.65)

2x CAKE rewards for the first 48 hours(presuming 94.5 total reward power): 6,095.2380956,816.568047 CAKE per day ($3,961.904762 @ 1 CAKE = $0.65)

1x CAKE rewards after the initial 48 hour period (presuming 93.5 total reward power): 3,080.213904 CAKE per day ($2,002.139037 @ 1 CAKE = $0.65)

The Syrup Pool Details

Stake CAKE tokens, to earn bALBT tokens!

  • Total Tokens: 360,000 bALBT (currently worth over $100,000 USD)
  • Distribution duration: 30 days
  • Start block: 3689300 (4th Jan 4 PM SGT / 9 AM CET)
  • Finish block: 4553300 (3rd Feb 4 PM SGT / 9 AM CET)
  • bALBT rewards per block: 0.4166 bALBT

How do you participate in the bALBT/BNB pool?

In order to get started, make sure you have BNB and bALBT on the Binance Smart Chain network. New to this? Read the previously released tutorial which shows how to setup MetaMask in order to work with Binance Smart Chain and how to bridge your ERC20 ALBT tokens to BEP20 bALBT tokens through BurgerSwap.

Alternatively, you can also swap your tokens to bALBT through PancakeSwap.

Note: Make sure you use the right bALBT address which is: 0x72faa679e1008ad8382959ff48e392042a8b06f7 (view on BSCScan).

Once you will have your BNB and bALBT ready, you can follow the following steps to add liquidity and stake your liquidity provision tokens on PancakeSwap:

  • Add liquidity to this bALBT/BNB pool
  • Enter the amount of BNB or bALBT you want to add, the ratio between tokens will automatically be calculated (you will need to provide both assets each time you add liquidity):
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Below you can see if you have already added liquidity once
  • Press the Supply button, followed by the Confirm Supply button in the next step and then complete the transaction in MetaMask.
  • Once you have finished adding liquidity, go to the bALBT-BNB farm to start liquidity mining
  • Click the Approve BALBT-BNB LP button:
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  • Confirm on MetaMask
  • The buttons will now change, click the + button:
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  • Enter the amount of LP tokens you want to stake, or simply click the MAX button:
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  • Click Confirm and complete the transaction in MetaMask
  • You can check back on a regular basis on the bALBT-BNB farm. When you have collected some CAKE, you can harvest them any time using the Harvest button:
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  • And if you don't want to stake anymore, simply Unstake the liquidity tokens using the Unstake button (make sure to enter an amount again or use the Max button in the dialog that pops up).
  • Now, once you have collected some CAKE, you can proceed to stake this CAKE at the Syrup Pool. You will have to find the bALBT/BNB pool at the pools overview page. It will look like this:
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  • To get started, first click the Approve CAKE button:
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  • Complete the transaction in MetaMask, and then click the + button:
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  • Enter any amount or use the MAX button again:
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  • Finish by using the Confirm button and finishing the transaction in MetaMask.
  • You can stake more CAKE using the + button or Unstake your cake again using the Unstake CAKE button:
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  • Removing liquidity (make sure to Unstake it first), is through the Liquidity Pool again. Sometimes it takes a while to load your position, once loaded it will look something like this:
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  • Click the red circled (circled only in above image) button to expand your position
  • Click the Remove button to remove your liquidity
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BEP20 bALBT will also be circulating and transferable on BSC when we start the Syrup pool, so you will be able to harvest your bALBT tokens and trade on PancakeSwap at any time!

BEWARE OF SCAMS

The official bALBT token contract address on Binance Smart Chain is:

https://www.bscscan.com/address/0x72faa679e1008ad8382959ff48e392042a8b06f7

Any other bALBT token will be a scam and will result in a financial loss for users. Do not buy tokens from any other token address. Always verify the token address before purchasing tokens. If you receive airdrops from another address for bALBT tokens, they will be rotten tokens (but not the cool kind!), and we advise you to ignore them.

About AllianceBlock’s Liquidity Mining program

AllianceBlock’s Liquidity Mining Program is the first officially endorsed and audited Liquidity Mining Program on Binance Smart Chain. Currently, the program supports PancakeSwap on Binance Smart Chain. The addition of the bALBT Syrup Pool with over $100,000 worth of liquidity reflects the next step of the rapidly growing AllianceBlock Liquidity Mining program and is the continuation of the joint effort between AllianceBlock and Binance Smart Chain.

In addition, AllianceBlock successfully launched its first pool on BSC via PancakeSwap. In less than 48 hours the total pooled bALBT are 3,052,305.89 bALBT and 1,083.4 ETH (Binance pegged ETH) which is a total of 1,819,726.00 USD (bALBT/ETH pool address: https://bscscan.com/address/0xf20334d7529bcd485dcfbf3be9ca6f1005bd6125)

About PancakeSwap

PancakeSwap is a decentralized exchange for swapping BEP20 similar to SushiSwap but based on Binance Smart Chain instead of Ethereum.

🥞 pancakeswap.finance/

🥞 Twitter

🥞 Telegram

About AllianceBlock

AllianceBlock is building the first globally compliant decentralized capital market. The AllianceBlock Protocol is a decentralized, blockchain-agnostic layer 2 that automates the process of converting any digital or crypto asset into a bankable product.

Incubated by three of Europe’s most prestigious incubators: Station F, L39, and Kickstart Innovation in Zurich, and led by a heavily experienced team of ex-JP Morgan, Barclays, BNP Paribas, Goldman Sachs investment bankers, and quants, AllianceBlock is on the path to disrupt the $100 trillion securities market with its state-of-the-art and globally compliant decentralized capital market.

Website | Telegram | Discord | CoinGecko | White Paper | Green Paper | Token Economics Paper

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Bridging Traditional Finance and Decentralized Finance

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