Why not Wynaut: A Guide to Help You Buy Wynauts and Provide Liquidity
First of all, a warm welcome to the Wynaut Community! We at Wynaut are thrilled by the support of this community-led project.
So, who are we? Wynaut is a community-based initiative with innovative features. In this post we’ll explain how to buy the token and provide liquidity. Remember that any additional questions can be asked in the Telegram group chat!
TL;DR: See the wonderful picture guide at the end.
Wynaut is a frictionless token with a burn mechanism — every transaction burns 3.6%. That means 1.8% gets subtracted (burned) from the total supply, and the other 1.8% is distributed evenly among all hodlers and sent directly to your wallet. The “frictionless” effect means there’s no need to compound, harvest or interact with any contract to enjoy this added benefit.
We started with a 36m total supply of Wynauts in circulation. At this moment, 5 days after launch, we’re at 30.5m.
So, you want to buy Wynaut? Follow these steps so everything goes smoothly. We’ll also explain how to add liquidity below.
Buy Wynaut on PancakeSwap
1. Click here to buy Wynaut via PancakeSwap.
2. You’ll see a pop-up cautionary message. Tick the “I understand” checkbox and click continue.
3. In the settings, you can adjust the slippage. As mentioned, there’s a 3.6% tax. Set the slippage to a minimum 3.6% and hit the X in the upper right corner. If you encounter issues, you need to increase the slippage to more than 3.6%. We recommend 5%, though more may be necessary. Don’t forget this detail!
5. Lastly, make sure your amount of Wynauts is a whole number (so no decimals), otherwise you might get an error message.
*Occasionally, there are loading issues after clicking the “Swap” button. This has to do with the Wallet and Pancakeswap. Make sure you use one of these wallets for an effortless transaction: Trust Wallet or Metamask.
6. Woohoo! You’ve caught Wynaut! Once they’re purchased, you can add liquidity.
Provide Liquidity on PancakeSwap
7. Click here to provide liquidity via PancakeSwap.
8. You can provide liquidity by pairing Wynaut with another currency (BNB or BUSD). Pick the other currency you want to pair it with and supply liquidity to the pool!
Right after you provide Wynaut and BNB or BUSD into the liquidity pool, you’ll receive Wynaut-BNB LP or Wynaut-BUSD LP.
The number of LP tokens you receive represents your portion of the total liquidity pool. You can reclaim your funds at any time by removing your liquidity.
9. Welcome and thank you for joining us!
Risks and Benefits to Providing Liquidity
Providing liquidity is not without risk, as you may be exposed to impermanent loss. More information here : https://academy.binance.com/en/articles/impermanent-loss-explained
It’s not all bad for liquidity providers as you will also be given a reward in the form of trading fees. Whenever someone trades, the trader pays a fee. On PancakeSwap, the trader pays 0.2% of which 0.17% is added to the liquidity pool of the swap pair they traded on.
For example:
- There are 10 LP tokens representing 10 WYNAUT and 10 BNB tokens.
- 1 LP token = 1 WYNAUT + 1 BNB
- Someone trades 10 WYNAUT for 10 BNB.
- Someone else trades 10 BNB for 10 WYNAUT.
- The WYNAUT/BNB liquidity pool now has 10.017 WYNAUT and 10.017 BNB.
- Each LP token is now worth 1.00017 WYNAUT + 1.00017 BNB.
To make being a liquidity provider even more rewarding, you can also put your LP tokens in our farms. You’ll earn APY and still receive your 0.17% trading fee reward.
A Community Member created this wonderful guide. Click for fullscreen.
