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How to Participate in the AllianceBlock Liquidity Pool on Binance Smart Chain

Disclaimer: due to an already existing (small) BNB/bALBT pool on PancakeSwap we had to decide to deploy an ETH/bALBT pool instead. Please read the following instructions carefully in order to make sure you can participate in the pool correctly.

Following the successful and popular launch of our Alliance Block Liquidity Mining Program (v1.0) in November, the addition of the Balancer protocol in our v1.2 version immediately followed by the launch of the brand new AllianceBlock Liquidity Mining Partnership program together with Frontier which includes the first fully audited Multi-Asset Reward Liquidity Mining Partner Program, we are proud to announce that the AllianceBlock Liquidity Mining Program is now available on Binance Smart Chain (BSC) as well, using the PancakeSwap Protocol (make sure when visiting their website that you are visiting https://pancakeswap.finance/, other URLs are likely scams).

Prerequisites

Like with our Ethereum based LM program, you’ll need to have MetaMask installed in a WEB3 compatible browser (e.g. Chrome, Brave or FireFox). Besides that you will need to obtain ETH (or swap your previously obtained BNB to ETH) and bridge ALBT to bALBT in order to provide liquidity (keep some BNB at hand, as it is used to pay gas fees on the Binance Smart Chain network).

Configuring MetaMask to work on Binance Smart Chain Mainnet and Bridging your ERC20 ALBT to BEP20 bALBT

Please follow the “How to Bridge your ALBT to bALBT in preparation for BNB/bALBT Liquidity Mining on Binance Smart Chain” tutorial.

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  • Make sure your MetaMask is set to the BSC Network
  • Click the Connect Wallet button:
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  • Proceed by clicking the "Select a token" button:
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  • And then click ETH:
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Make sure to not swap all of your BNB, you will need them to pay gas fees on the BNB network
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  • You will now be presented with the following screen:
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Adding Liquidity to the PancakeSwap Pool

Once you’ve arrived to the AllianceBlock Liquidity Mining Portal at bsc.allianceblock.io, MetaMask will pop up and ask you with which account you want to connect to the portal. Select the one you want to use to mine liquidity (make sure you have Binance Smart Chain selected as the Network) and you should then be presented with the following screen:

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Staking your Cake-LP tokens

In order to get rewards for providing liquidity, you must stake your Cake-LP tokens. In order to do this, simply press the stake button.

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  • Withdraw your stake using the “Withdraw” button (your reward will automatically be claimed)
  • Add more liquidity by clicking on the plus sign

Add additional liquidity

Click on the “Add more” button or the plus sign in the pool (if visible), and you will see the same dialog as in the beginning. Repeat the steps from earlier and provide the amounts of tokens you want to add additionally in exchange for Cake-LP tokens.

Claiming your rewards

As you can see, we are eligible to claim some bALBT tokens as a reward for staking our Cake-LP tokens. So let’s press the “Claim” button. Once more, MetaMask will pop up to ask you to confirm the transaction. Good news! Once the transaction has completed, you will immediately have the rewarded tokens in your wallet!

Withdrawing your stake

If you click the “Withdraw” button, you will no longer stake your Cake-LP tokens. Don’t worry, if you still have unclaimed tokens as reward for your staking, they will be claimed and sent to your wallet automatically, we will not leave you hanging!

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Removing liquidity

Note: before removing liquidity, you need to have more than 0 Cake-LP tokens available (unstaked). If you have 0 unstaked Cake-LP tokens, you will first need to withdraw your staked Cake-LP tokens using the Withdraw button (see previous chapter). This is because you can’t remove liquidity which you are currently staking; you will need to stop staking them (withdraw) first.

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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.

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Bridging Traditional Finance and Decentralized Finance

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