Binance Smart Chain Wrapped BiblePay

From BiblePay Wiki
Revision as of 20:29, 7 June 2021 by Admin (talk | contribs) (Created page with "''' What is Wrapped BiblePay ''' Wrapped BBP starts with an unspent biblepay coin. Next this coin is sent to Wrapping Services. This service wraps the BBP into a BEP20 toke...")
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to: navigation, search

What is Wrapped BiblePay

Wrapped BBP starts with an unspent biblepay coin. Next this coin is sent to Wrapping Services. This service wraps the BBP into a BEP20 token visible on the Binance Smart Chain.



What can I do with this Wrapped BIBLEPAY?


You can invest wBBP in a Defi contract. One example is this contract here, at YieldFields Finance: https://yieldfields.finance


Step by Step Guide to Investing into a YieldField contract

Step 1: Install metamask as a browser extension into your browser. This will let you see the Wrapped BBP that you buy, and see the Binance Smart Chain. Be sure to install metamask from metamask for security purposes, here is the link: https://chrome.google.com/webstore/detail/metamask/nkbihfbeogaeaoehlefnkodbefgpgknn?hl=en

Step 2: Configure Metamask to allow you to view the Binance Smart Chain. This will allow you to view assets stored on the BSC chain (in contrast to on the Ethereum chain). See this guide: https://academy.binance.com/en/articles/connecting-metamask-to-binance-smart-chain

Step 3: Add the wBBP asset to your MetaMask wallet: Click Metamask | Ensure you are in Binance Smart Chain Network | From the overview page click Add Token | Paste the Wrapped BBP Token in by pasting this contract address: 0xcb1eec8630c5176611f72799853c3b7dbe4b8953 (The decimal and name should be prepopulated)

Step 4: Wrap a quantity of your personal biblepay coins. As an example, let us wrap 100,000 biblepay. First navigate to this page: https://wrapping.services. In the BBP field, populate 100000. (Optionally click advanced and populate email). Copy your BSC smart chain receive address into the clipboard by navigating to : Metamask Wallet | Ensure you are in the BSC smart chain network | Click Receive | Copy address to clipboard. Paste this address into the wBBP BEP20 receive address field. Click WRAP. Within 10 minutes you should see the wBBP in your smart chain metamask wallet balance!

At this point, you now have wrapped bbp, allowing you to participate in different defi activities and possibly new services we are not even aware of.

Step 5: Let us invest in Yield Field. Navigate to https://yieldfields.finance/farms At this point the first step is we need to not only hold some wBBP (which we now have), but we also need some of their native currency (called "FIELD"). You can buy FIELD right on their web site.

To buy FIELD you will need to exchange a supported instant exchange currency (such as BNB or ETHER) for FIELD. In my case I have BNB in metamask.

Let us assume you are in the same situation.

From YieldField, left menu, click "Exchange". You will now be prompted to link your Metamask wallet to the site, click Yes. From Metamask, it will be asking if you approve this.

Click Yes.

Now in the instant exchange dialog, choose the From currency (I chose BNB). For the To currency, choose "FIELD".

Allow the page to update with the estimated exchange value then click SWAP.

Now you hold both wBBP and FIELD!

Step 6: Let us invest in a liquidity pool that earns wBBP + YieldField ROI!