Ultimate Guide to BabyDogeSwap. 30-Page Book about BabyDogeSwap… | by De.Fi | Mar, 2023
2. First thing first: what’s BabyDogeSwap?
4. BabyDogeSwap features
5. Wallets for BabyDogeSwap
6. Should you use BabyDogeSwap?
7. Preparation for Yield Farming
8. Yield Farming on BabyDogeSwap
9. How to automatize Yield Farming on BabyDogeSwap with De.Fi
10. What’s Burn Portal on BabyDogeSwap and how to use it?
11. How to migrate your liquidity from PancakeSwap to BabyDogeSwap?
12. Free Security Bible
At the beginning of March, we revealed BabyDogeSwap getting FULLY integrated into the De.Fi SuperApp’s Dashboard and Antivirus!
The announcement has gained more than 2,000,000 impressions on Twitter! You guys absolutely killed it! 🔥
Millions of DeFi’ers around the world enjoyed the integration of BabyDoge! Are you among them? Then we have some great news for you!
After weeks of preparation, De.Fi team is publishing an Ultimate Guide on everything you need to know about BabyDogeSwap!
Literally everything – all in one place! Welcome to our step-by-step guide 👇
The world of decentralized finance (DeFi) is constantly evolving, and one of the latest additions to the space is BabyDogeSwap. This swapping and farming protocol is a decentralized exchange (DEX) that allows users to trade cryptocurrencies on the Binance BNB Smart Chain (BSC) with lower fees than other exchanges. The BabyDogeSwap platform was created by fans of the doge meme community, and its primary goal is to build a fun meme community that spreads awareness of animal adoption. In this article, we will explore the features that make BabyDogeSwap stand out from other DEXs and how you can make it part of your DeFi farming portfolio.
One of the key features of the BabyDogeSwap platform is its deflationary token, $Baby Doge. The token has been designed to become more scarce over time, and as a holder of Baby Doge, you can earn more tokens simply by holding them in your wallet. This is because every on-chain transaction that occurs on the Baby Doge ecosystem generates a 5% fee, which is automatically redistributed to token holders. As a result, the community receives more Baby Doge coins from the fees generated by each transaction, and the amount of Baby Doge in your wallet can grow over time.
Another aspect of the tokenomics of $BabyDoge is its auto-burn mechanism. The dead wallet holds 45%+ of the total supply, and out of the 5% of reflections generated by each transaction, 45%+ of them will be distributed to the dead wallet. This means that coins are burned with every on-chain transaction, further reducing the supply of Baby Doge over time. As a result, Baby Doge becomes more scarce and valuable, creating a positive feedback loop for token holders.
In addition to auto-burn and auto-reflections, BabyDogeSwap also features locked liquidity. The majority of initial LP tokens are locked, and some have been burned. This ensures that the liquidity of the platform remains stable and that the community can continue to trade Baby Doge tokens without any liquidity issues. However, newly generated LP tokens from the 5% LP fees are not locked, allowing for flexibility and growth in the future.
Finally, BabyDogeSwap has a designated charity wallet that receives redistributions from the transaction fees. These funds are used to support charity partners, making BabyDogeSwap a platform with a purpose beyond just trading cryptocurrencies.
BabyDogeSwap is a decentralized exchange built on the Binance Smart Chain that provides several features to its users. One of the key features of BabyDogeSwap is the ability to swap tokens without the need for a centralized exchange. This means that users can trade directly from their wallets, eliminating the need to trust third parties with their assets.
If you’re holding $BabyDoge Coins, you can also pay Lower Fees when you trade.
By providing liquidity to a pool, users can earn LP tokens, which are used to earn rewards in the form of trading fees.
On top of the liquidity pools, BabyDogeSwap also offers yield farming. Users can earn additional rewards by staking their LP tokens into a smart contract, in the form of $BabyDoge coins, among others.
BabyDogeSwap also offers “Farming as a Service” which allows projects to create staking rewards for their community by providing incentives to users who stake their tokens for a set period of time.
This service allows new projects to incentivise liquidity for their native token by offering a reward token to those who provide liquidity. This approach provides flexibility to projects by enabling them to create a farm or pool with a different reward token, which helps to grow liquidity without having to saturate the circulating supply of a project.
Trust Wallet is a popular mobile cryptocurrency wallet that allows users to securely store, manage, and exchange a wide range of digital assets. Backed by Binance, one of the largest cryptocurrency exchanges, Trust Wallet is designed to provide users with a simple and intuitive interface. The wallet supports the BNB Smart Chain, and therefore includes support for BabyDogeSwap.
Another popular wallet is MathWallet. MathWallet is a mobile app-based wallet that supports all EVM compatible chains, making this a good option if you are yield farming across multiple Ethereum-based chains. Likewise, MathWallet fully supports interactions with the BNB Smart chain, and thus allows you to farm on BabyDogeSwap.
MathWallet offers mobile apps for both iOS and Android, and also features a browser extension option if you’d like to manage your positions on desktop.
Metamask needs no introduction: it is a popular browser extension and mobile wallet that allows users to interact with decentralized applications (dApps) built on the Ethereum network and EVM-compatible chains. The extension integrates with most dApps and provides a seamless, secure, and convenient way for users to access and use decentralized services.
Because MetaMask is compatible with EVM, you are also able to use MetaMask to interact with BabyDogeSwap.
BabyDogeSwap offers a range of features and benefits that make it an attractive option for anyone looking to swap, provide liquidity, yield farm, or create farming incentives for their community. As an automated market maker built on the Binance Smart Chain, BabyDogeSwap ensures decentralized and secure transactions without the need for a centralized exchange. Moreover, yield farming allows users to earn BabyDoge rewards by locking their LP tokens into a smart contract, while Farming as a Service allows projects to create staking rewards for their community.
Overall, BabyDogeSwap is definitely worth considering. Its unique tokenomics, including auto burn and auto-reflection features, make the BabyDoge token an attractive investment opportunity, while its charity wallet demonstrates the platform’s commitment to making a positive impact on society. With its extensive range of features, competitive fees, and easy-to-use interface, BabyDogeSwap is an excellent option for both experienced and novice cryptocurrency users.
Before we start Providing Liquidity on BabyDogeSwap, let’s prepare the tokens we want to deposit!
Luckily, BabyDoge has its own DEX, So let’s navigate to it!
Firstly, let’s click on this elegant button to open a more convenient Swap Window, so we can keep track of the prices of the tokens that we want to exchange.
Great! Now let’s open a settings menu to adjust slippage and gas fee tolerance in order to optimize our swapping experience.
Now let’s buy a token that you want to stake. In our case, it will be BabyDoge.
The process of swapping and adding liquidity is mostly similar to that on Ethereum-based DEXes, so if you are already familiar with yield farming on EVM-compatible ecosystems, you will feel right at home. In this example, we are giving the example of farming BNB-BabyDoge.
- Navigate over to the BabyDogeSwap interface and connect your Metamask. Follow the automatic prompt to switch the network to BNB Chain.
2. Head over to the Farms page by clicking on ‘Earn’, and selecting ‘Farms’.
3. Choose the farm you’d like to add Liquidity for. In this case, it is BNB/BabyDoge:
4. You’ll then need to click on ‘Deposit’. You’ll then be prompted to ‘Zap in’ your BNB or BabyDoge into the pool. This automatically converts half of your coins to the other in the pair, and adds them to the liquidity pool:
5. Hit confirm, and your tokens should automatically be added to the liquidity pool and staked to the farm, in just one step!
6. If you prefer to yield farm with single tokens, you can use the ‘Pools’ page by switching the toggle at the top of the list:
Do note, however, that most of these are project native tokens, and may therefore be higher risk investments.
As mentioned at the beginning of the Guide, BabyDogeSwap is now FULLY integrated into the De.Fi SuperApp. This includes our Biggest APY Aggregator — Explore Yield!
On a daily basis, we are tracking fresh data about APY and TVL of BabyDoge’s Liquidity Pools!
Go to APY Aggregator and find the pool that matches your risk appetize: filter out by APY, TVL, Tokens Pair, Pool Category, and more!
Exactly 1 month ago, on February 13, BabyDogeSwap has launched a Burn Portal, where holders can burn their tokens in exchange for lower swap fees when buying more $BabyDoge.
Users who burn $BabyDoge can reduce their buying tax from the base 10% to as low as 0.5% when using the Baby Doge Swap Decentralized Exchange (DEX).
To assist in efforts to reduce the project’s token supply, the Baby Doge team is offering to burn 5 $BabyDoge for every token that a user burns, through April 1.
Now that you know everything about the BabyDogeSwap, you may want to make it your main Yield Farming Protocol on BNB Chain.
If you have some staked positions on PancakeSwap and would like to migrate this liquidity to the BabyDogeSwap, you can do it easily in just 1 click in the “Migrate” tab.
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