You may have heard that BTC holders can make over 4% APY + swap fees by providing liquidity on Swingby Protocol. It’s not a myth!
There are many ways to earn passive income with Swingby, and this article aims to explain how you can put your BTC to work NOW to create a nice and steady return on a weekly, monthly and yearly basis. There are currently 4 different ways in which you can make passive income with Swingby. These are:
1. Being a bridge liquidity provider (BTC single-staking!)
2. Being a DEX liquidity provider
3. Staking on the DAO
4. Running a network validator (Metanode)
Each one of these categories offer different yields, but nevertheless they all provide high rewards in comparison to the majority of DeFi projects. We will be providing a description on current yields and a short guide on how to take advantage of them.
Bridge Liquidity Providers
Swingby offers one of the HIGHEST YIELD in the entire crypto industry for single-stake BTC liquidity.
Adding liquidity to the bridge is one of the most profitable options that Swingby offers. For this option you will need BTC to provide liquidity and not Swingby Tokens.
Currently you would be getting 4% APR + 33% of the fees collected from swaps executed in Skybridge and Skypools. The 4% APR is paid in Swingby Tokens and the fees collected are paid to you in sbBTC (auto-compounding). sbBTC is Swingby’s BTC pegged token. You can swap from sbBTC back to BTC whenever you desire.
Step by Step Guide:
1. Visit https://skybridge.info/pool?bridge=btc_skypool
2. Once you are there press on “Add Liquidity” on the top right.
3. Deposit your liquidity and you receive our LP token called sbBTC.
DEX Liquidity Providers
Currently Swingby is trading on 3 different DEXs: Pancake Swap (BSC), Uniswap (ETH), and Sushiswap (ETH). All three of them offer APRs of 20%+ when the LP tokens are staked in the yield farm at the time of writing this article.
You can see that on Uniswap and on SushiSwap the pools are WETH + Swingby Token, and on Pancake Swap the pools are BNB + Swingby Token.
Providing liquidity is extremely easy:
1. Visit https://farm.swingby.network2. Go to the pool that you would like to provide liquidity to and click on “Get LP from …”
3. After getting LP tokens, you can deposit them in the farm at https://farm.swingby.network
After going there you will be automatically directed to the liquidity pool where you can add liquidity with one click.
DAO Staking
This is the easiest way to make passive income and also earn voting power for the network. For this option you will need Swingby tokens.
Staking currently offers a 5% APR, and it is done on the DAO website.
Guide:
1. Make sure your tokens are on the ETH network. If they are not, you can check this video guide on how to bridge your Swingby Tokens to ERC-20 using the Swingby Bridge.
2. Stake on the DAO platform. This is a great video guide to quickly stake in dao.swingby.network .
Running a Network Validator (Metanode)
This is probably the most challenging passive income opportunity since it requires some technical knowledge, but it is the most lucrative. To be a node validator you will need to hold a minimum amount of 175k Swingby Tokens.
By running a Metanode your hardware (server) will be actively participating in securing the network and facilitating swaps and trades through Swingby.
The APR paid to network validators is 30% APR paid in Swingby + 66% of fees accumulated from Bridge swaps, paid in BTC.You can see all node validators at https://skybridge.info/metanodes?bridge=btc_skypool
Guide:
1. Visit https://swingby.network/metanode for more information.2. Find a useful live video guide here
We hope that this detailed description of possible ways of earning passive income with Swingby is useful for you!
You can always visit our Telegram channel to ask further questions https://t.me/SwingbyOfficial
Moreover, for further questions, visit our Discord at https://discord.gg/g55XVAaX and ask in the Metanodes channel in the Support section.
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