Bittime - Creating a farm or pool using BabyDogeSwap is an effective way to manage liquidity and incentivize users who engage in token staking. In this guide, we will provide easy-to-follow steps to create a farm or pool using BABYDOOGE, either with a single token (pool) or a token pair (farm).
Steps to Create a Pool (Single Token) with BabyDogeSwap
To create a pool with one token, first go to the BabyDogeSwap homepage and click on the EARN menu. In the drop-down menu, select CREATE YOUR OWN. On the next screen, you will be asked to choose between Single Token (Pool) or Token Pair (Farm). If you choose a pool, proceed to select the token that the user will stake.
Next, set the start time for the pool and determine whether the pool has an end date (fixed period staking) or no end date (non-fixed period staking). After that, select the token that will be used as a reward for users, then determine the daily reward amount and the total reward to be given. If staking is done with a fixed period, the total reward will be calculated automatically.
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You can also choose to set a maximum number of tokens that can be deposited by a single user, although this is optional. You can also choose the minimum time required to lock up staked tokens, as well as whether there is an emergency withdrawal fee if a user wants to withdraw tokens early. If you choose to charge an emergency fee, you will be asked to provide the recipient address for the fee.
Once all the information is filled in, click NEXT to continue. On the next page, make sure all the information you have entered is correct. If so, click CREATE. You will be asked to confirm the transaction in your wallet. Once the transaction is successful, you will receive a notification that the pool has been successfully created.
After that, click the FUND button to fund the newly created pool. Confirm the transaction in your wallet. Once the funds have been successfully deposited, you will receive a notification that the farm/pool has been successfully launched. Click OK to continue. You can now add rewards or edit the pool as needed.
Steps to Create a Farm (Token Pair) with BabyDogeSwap
If you choose to create a Token Pair (Farm), first select the token pair you want to farm. Set a start time for the farm and choose whether the farm has an end date (fixed staking period) or not.
Next, determine the token to be used to reward users, and choose the daily reward amount and total reward for users. If staking is done with a fixed period, the total reward will be calculated automatically. If there is no fixed period, you must determine the total reward you want to give.
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You can choose to set the maximum number of tokens a single user can deposit and the minimum time required to lock staked tokens, although both of these steps are optional. Additionally, you can set whether there is an emergency withdrawal fee charged for withdrawing tokens early.
If the reward token used has a Reflections mechanism in its tokenomics, you can choose to send Reflections to the user by clicking YES.
After filling in all the required information, click NEXT to continue. On the next page, make sure all the data you have entered is correct. If so, click CREATE and confirm the transaction in your wallet. After the transaction is successful, you will receive a notification that the farm has been successfully created.
To fund your newly created farm, click FUND and confirm the transaction in your wallet. Once the funds have been successfully deposited, you will receive a notification that the farm has been successfully launched. Click OK to continue. You can also add rewards or edit the farm as needed.
Conclusion
Creating a farm or pool on BabyDogeSwap has many benefits, including managing liquidity and incentivizing users who stake tokens. You can choose to create a pool with a single token or a farm with a pair of tokens, depending on your needs and preferences.
Make sure to follow each step carefully and confirm the transaction in your wallet to make sure everything goes smoothly. This way, you can leverage the potential of BabyDogeSwap to maximum profit.
BabyDoge FAQ:
What is BabyDoge?
BabyDoge is a cryptocurrency token inspired by Dogecoin, with "reflection" and "auto-staking" features.
How to buy BabyDoge?
Buy BabyDoge on platforms like PancakeSwap using a wallet like MetaMask or Trust Wallet.
What makes BabyDoge different?
BabyDoge has a deflationary mechanism and provides passive rewards to its holders.
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Reference
Baby Doge, Create your liquidity farm , accessed 26 December 2024.
Baby Doge, How to Create a Farm/Pool , accessed December 26, 2024.
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