During the special UNFI Binance Smart Chain (BSC) staking event that ends January 1, 2021, you are able to earn more UNFI tokens by staking it!
If you want to take a piece of the UNFI staking rewards that are to be mined during this event check out how you can do it using MetaMask or Trust Wallet.
I first included the Math wallet in this article but is very troublesome so avoid it. Mac and users of the Brave browser had issues, it doesn’t show the assets and I had problems restoring it.
Notice: Your staked UNFI tokens will be locked during this period.
Earn Rewards Every 3 Seconds!
Binance has a dual chain architecture with 2 parallel blockchains. While Binance Chain protocol is designed for fast decentralized trading powering Binance DEX, the Binance Smart Chain was created to provide better smart contract functionality and compatibility with the EVM — Ethereum Virtual Machine, being better host to dApps (decentrilized applications). These 2 chains are fully interoperable.
To stake UNFI we will need a Binance Smart Chain compatible wallet and also BNB (Binance coin) for transaction fees.
We are going to configure MetaMask wallet to interact with the Binance Smart Chain (BSC) so we are able to transfer, store, send and stake UNFI token.
On the Binance Smart Chain block is created every 3 seconds and you earn reward every time it happens if you have staked your UNFI token!
1. How To Configure The MetaMask Wallet (Browser Extension)
Install MetaMask wallet.
From the network selection in the top click “Custom RPC”.
Enter the BSC details as follows:
Network Name: Binance Smart Chain
New RPC URL: https://bsc-dataseed.binance.org/
Block Explorer URL: https://bscscan.com/
You will now see and be able to select “Binance Smart Chain” from the network selection list.
Now we can already visit https://unifiprotocol.com/staking/ and check it out.
On the staking page click “Connect a Wallet” button in the top and then choose MetaMask (click a wallet in your browser to drop down and make sure Binance Smart Chain network is selected)
Cool, now we’re logged in. I have some BNB left in my wallet, and I have staked all my UNFI:
UNFI has recently been listed on the following exchanges where you are able to buy it: Binance, MXC, Bibox, Jubi, Hotbit and HBTC!
Buy UNFI on Binance And Transfer To MetaMask Wallet
Go over to Binance and buy UNFI (currently available in UNFI/USDT, UNFI/USD, UNFI/BNB and UNFI/BTC pairs).
You will also need some BNB (Binance coin) for the transaction fees we already mentioned (transactions use very small amounts).
We are going to send UNFI tokens from Binance to our MetaMask wallet.
On Binance withdrawal page select UNFI (Unifi Protocol DAO) and enter your MetaMask wallet address.
Select Binance Smart Chain (BSC) BEP20 network. This is very important and reason for the long intro.
Set the amount and confirm. You are going to withdraw the BNB the same way, using same address and selecting the Binance Smart Chain (BSC) BEP20 network.
Once the coins are in your MetaMask wallet we can head over to https://unifiprotocol.com/staking/ connect wallet and stake UNFI.
Stake UNFI And Claim Staking Rewards
You already know how to connect a wallet and the Unifi Protocol staking page will now show you how much UNFI and BNB you have on disposal in your MetaMask wallet available for staking and other information.
As you can see I have already staked 66.99 UNFI using my MetaMask wallet and can already collect 0.766 UNFI in staking rewards, which I will do by clicking Claim Rewards.
Cool. Now I have 0.77 UNFI I can stake again (this is your part).
Enter amount and click submit. The MetaMask wallet will pop-up, click confirm.
As you can see my stake increased.
2. Stake UNFI Using Trust Wallet (Mobile)
Ok I broke my head on this one until friend on Telegram showed me what I was doing wrong.
You can use Trust Wallet to stake and receive rewards but you can’t use it to add liquidity on Unifi Protocol website.
Install Trust Wallet
Open wallet and click these 2 circles in the top right.
Enable Smart Chain BNB and UNFI wallets.
Since UNFI is a BEP20 token on Binance Smart Chain (BSC) both of these wallets have the same address and you are going to use it to send both UNFI and BNB.
After transferring some funds click on the DApps explorer tab.
In the address bar type Unifi Protocol staking page address:
See that icon in the top right? Your wallet is currently set to use Ethereum Network so if you click Connect Wallet nothing will happen.
Click it and select Smart Chain.
Great. Now you can click Connect a Wallet and select TrustWallet.
Your wallet is now connected and the staking page will show you information on your wallet’s BNB and UNFI holdings.
You can now stake. Enter amount and press submit.
The Trust wallet will pop up twice click Approve.
That’s it! You are now able to earn and claim rewards.
I had no problems with Trust Wallet.
If you need help join Unifi Protocol community on Telegram: https://t.me/unifi_protocol
Cryptoak CCR Telegram: https://t.me/cryptoakio
Official Unifi Protocol Twitter: https://twitter.com/unifiprotocol
Or check out the Unifi Protocol articles here on Medium.
Thanks for reading my article I hope it was helpful :)