New to DeFi? Start here. We will cover the fundamentals of DeFi to help you with your crypto journey.
There are several things you need to take note of before starting on your PRV journey. Here is an overview of the necessary steps in farming and staking.
- 2.Starting CapitalYou'll need some BNB and/or BUSD to purchase PRV2 and/or PRVG. Most likely, the best choice for starters would be BNB as it is required anyway, to pay for Binance Smart Chain (BSC) transaction (or gas) fees. You can get BNB and/or BUSD direct from Binance. If Binance is unavailable to you, you may ask around for OTC (over-the-counter) solutions. Video on how to withdraw funds from Binance to your MetaMask can be found here.
- 3.Swapping for PRV2After obtaining BNB and/or BUSD, you will need to swap it for PRV. Currently you can do so via PancakeSwap's exchange page (will be directly from PrivacySwap in future once our frontend changes are complete).
- 4.When you provide liquidity to any liquidity pool or LP, LP tokens are automatically minted and distributed directly into your wallet. This LP token is a representation of your share of the total pool based on how much liquidity you have added. These LP tokens can be 'redeemed' by removing your liquidity from that pool, and you will get back your assets from the pool.
- 5.There are two methods of farming on PrivacySwap. Each with their pros and cons.