Guide to gvVALUE staking on Binance Smart Chain
In this tutorial, we’re going to walk you through the step-by-step process on how to purchase VALUE token on vSwap, stake it in vGovernance on Ethereum Mainnet and bridge it over to BSC to receive extra rewards. For the sake of simplicity, we will be using https://metamask.io/ as the default wallet for this tutorial.
IMPORTANT - If you wish to purchase your gvVALUE-B tokens from vSwap directly, you may do so from https://bsc.valuedefi.io/#/vswap and jump to PART 4 directly!
There is a tutorial video at the bottom of the page!
PART 1 - PURCHASE YOUR VALUE TOKENS#
There are many ways to purchase VALUE but this tutorial will focus on our decentralized exchange vSwap.
INSTRUCTIONS
Go to https://valuedefi.io/ on your web browser
Click the “Value Liquid” button on the header
Connect your MetaMask wallet to the site
Select the token you would like to exchange from and select $VALUE as the token you would like to exchange to
Approve both tokens (one-time transaction). While cumbersome, this is a security measure in order to prevent malicious contracts from sending tokens you haven’t first authorized
Click on the ‘SWAP’ button
Preview the transaction in the pop-up window of your MetaMask
Confirm the transaction request in your wallet and wait for a few minutes
Congratulations, you now own VALUE tokens in your wallet!
PART 2 - OBTAIN YOUR gvVALUE TOKENS#
For users who are NOT in the vGovernance (Governance Vault) currently
In order to obtain your gvVALUE token which is the asset that will be bridged across the Ethereum Mainnet and the Binance Smart Chain (BSC) Mainnet, you will be required to stake your $VALUE tokens to the vGovernance (formerly known as the Governance Vault).
When you stake your VALUE tokens to the vGovernance, your VALUE will be wrapped into a new token called gvVALUE. When you unstake your VALUE from the vGov, your VALUE tokens will be unwrapped from gvVALUE. If you send your gvVALUE to another wallet, that new wallet will be able to redeem the VALUE tokens using the vGovernance.
INSTRUCTIONS
Click the 'Stake' button
Enter the amount you wish to stake
Approve the one-time transaction and wait a minute
Click the 'Stake' button
Congratulations, your VALUE tokens are now staked and earning profits from Value DeFi Ethereum ecosystem! As proof of ownership of your share in vGovernance, you should have received gvVALUE tokens in your wallet! (refer to the paragraph above).
FAQ
1) Can you add gvVALUE as a custom token to your MetaMask?
Yes you can, here are the token parameters:
2) Why is my gvVALUE amount lower than the amount of VALUE that I have staked?
vGov earns 35% of swap fees from vSwap and 16% performance fees from vSafes and it is autocompounded for all vGov stakers. Your gvVALUE amount will always stay the same (unless you stake more $VALUE), but your $VALUE amount will increase over time.
3) I'm currently staking in the vGov but I don't see my gvVALUE in my wallet, what do I need to do?
This scenario will happen if you staked to the vGov prior to November 2020. Don't worry, your gvVALUE are in the smart contract of the vGov and we have introduced a 'Unlock' button for you to click in order to redeem and consolidate your gvVALUE into your wallet. If you go to the vGov page and you see the "Unlock" button, it means you have some gvVALUE tokens to redeem! Please note this is a one-time event and the button will not appear if all your gvVALUE is already in your wallet.
PART 3 - BRIDGE YOUR gvVALUE TO BSC AND RECEIVE gvVALUE-B#
Now that you have your gvVALUE tokens in your wallet, you will need to use our portal to bridge your gvVALUE into gvVALUE-B. The two assets are pegged 1:1 and you may use this portal to bridge your gvVALUE and gvVALUE-B back-and-forth as needed.
INSTRUCTIONS
Visit the Bridge page here - https://valuedefi.io/bridge
Define the quantity of gvVALUE you wish to bridge over to BSC (gvVALUE-B)
Approve the one-time transaction
Click the 'Swap' button and approve the transaction on MetaMask
Congratulations! Your gvVALUE-B tokens were transferred to your wallet on the BSC network (this might take a while as this currently is a manual process done by the team).
PART 4 - STAKING ON BINANCE SMART CHAIN (BSC)#
INSTRUCTIONS
In order to stake in this pool, you need to have 98% of US dollar equivalent in gvVALUE-B and 2% of US dollar equivalent in BUSD. You can preview your required amount by using staking UI and selecting the 'MAX' button (the required BUSD amount will be be displayed automatically). You can use vSwap to buy more BUSD as necessary (BUSD is Binance's stablecoin).
Note: In order to receive auto-compounding rewards you should deposit in 98/2 gvVALUE-b/BUSD vSafe. The steps are the same; just add liquidity in pool and stake in vSafe
Make sure the selected network on your MetaMask wallet is set to Binance Smart Chain (BSC)
Select the '98% gvVALUE-B - 2% BUSD' pool (direct link: https://bsc.valuedefi.io/#/vfarm/0xd56339F80586c08B7a4E3a68678d16D37237Bd96/4)
Click the "Add liquidity" link
Define the amount of $gvVALUE-B and $BUSD you wish to provide liquidity for
Click the 'Supply' button
Go back to the pool page and click the "Stake LP" button
Click the "Max" button and then the "Stake" buton
Approve the tokens and transactions
Congratulations! You may now enjoy your passive income from ETH and BSC!
PART 5 - UNSTAKING AND REMOVING LIQUIDITY#
INSTRUCTIONS
In order to unstake and remove liquidity from vFarm and pool follow these steps
- Click on vFarm tab
- Select gvVALUE-B/BUSD pool
- Click Unstake
- Confirm transaction
- Click on vSwap tab
- Select Pool
- Select your Pool
- Click withdraw
- Approve and remove your LP tokens
For more details, please watch the video below: