The RFOX VALT retail and entertainment Metaverse ecosystem wants to reward you handsomely for your participation.
This time around, and yes, there have been many others, rewards are generated by becoming a liquidity provider for RFOX Finance. Unlike the expensive gas fees on the Ethereum network, BNB chain transaction costs are minimal.
And the same chain is playing host to a new yield farm inside the RFOX multiverse. Putting your tokens to work is a fantastic method for creating passive income. Just don’t count on them paying the bills unless you have them parked in stablecoins.
The $RFOX token is about five cents today, while $BNB is sitting around $380. Both are very far away from their previous high marks. But if you want to get wild and slippery with the chance of impermanent loss, go down to the farm on RFOX Finance.
Planting the seeds
Let’s pretend you’ve never farmed before and you’re wondering about the procedure. The concept is simple: Lock LP tokens into a smart contract to earn tokenized rewards.
So, what is an LP token, and how do you get one? That part is pretty straightforward, too. LP tokens are created by blending 50% of one asset and 50% of another.
On the new farm paying out 3M RFOX tokens, the formula is half $RFOX and half $BNB. Putting in 10 BNB tokens would also require roughly 70,000 RFOX tokens (at today’s price) to make 700+ LP tokens.
Deposit them into the farm once you have the LP tokens (make them at the “Liquidity” toggle inside the RFOX Finance Trade page). I bet you can find the “Farms” tab if you try!
Harvesting the crops
This is where the gains get interesting. As your LP tokens sit in the yield farm, they generate $RFOX rewards. The higher your pool percentage, the more $RFOX you can extract.
Head over to the Farms tab and hit the “Harvest” button whenever you feel the need. Your rewards accrue in real-time. So, the more LP tokens you have on the farm, the faster your harvestable figure will increase.
Today, the APR is over 200%. But we’re still a few days away from the farm’s official start time. I should say start block because kickoff is at the mercy of BSC block creation times.
For 90 days, you can stake your LP tokens and earn $RFOX. And if you’re reading this in the earliest days (kickoff happens at BSC block #15,560,000), you have the best chance of making the most of the LP promotion.
Don’t sit on the fence for too long down at the farm! The +200% APR can’t and won’t last forever! A generous 3M $RFOX tokens are up for grabs…time to get the tractor out of the barn.