There are many ways to generate income with Pylon Eco Token (PETN) and liquidity mining is one of them. So, let’s find out what is the peculiarity of this method and how you can earn money with it.
First of all, we need to learn what is liquidity mining indeed? Liquidity mining is an alternative way to make money on cryptocurrency. The user’s coins are blocked for some time and are used to provide liquidity for the project. As the result, the user is rewarded for his good deed. The term “mining”, which is used in the crypto market to refer to the process of mining cryptocurrency, in this context should be deemed as “earnings” for the provision of liquidity. It should be noted that getting money this way has gained popularity among decentralized finance (DeFi) coins and the Pylon Eco Token (PETN) is no exception from that. Many crypto specialists believe that it is due to the liquidity mining the DeFi coins gained so much popularity. A user who provides his funds to projects, like the PETN through his blocking is commonly called a liquidity provider in the DeFi space.
You can earn from liquidity mining on the Pylon Eco Token via decentralized platforms such as PancakeSwap and ApeSwap. Let’s discuss how to engage in liquidity mining through the PancakeSwap service. The advantage of this DEX is that it is built on BinanceSmartChain (BSC). As we believe in efficiency of Binance Smart Chain (BEP 20) network, we have chosen PancakeSwap and ApeSwap as our main DEX platforms. Due to low transaction fees, BSC is growing in popularity among users and developers.
The PancakeSwap uses AMM (Automated Market Making) model in its operations. This means that there is no usual order book on the exchange, and trading is carried out using liquidity pools. The users themselves fill these pools: they deposit money into the platform and receive liquidity provider tokens (they are called LP) as a reward. You can deposit PETN via your crypto wallet into pools and get a reward.
Currently, the reward for PETN is quite high. You can see and compare.
You can add liquidity to PETN through our website: https://www.pylontoken.com/
Currently, you can earn through the liquiding adding of PETN in conjunction with BUSD. To do that you need to deposit both PETN and BUSD on a 50/50 merit.
Few words about the PancakeSwap service: The project was launched in September 2020. Official website: https://pancakeswap.finance
You can conduct the same actions if you decide to use an ApeSwap service, but the APY might be different there.