How to Stake MBXN on UpBots
How to use the UpBots MBXN Staking Pools
Last updated
How to use the UpBots MBXN Staking Pools
Last updated
To interact with the UpBots staking pools you will need Metamask or a WalletConnect compatible wallet. In this example we are using Metamask browser plugin and Brave browser, you can find out more about Metamask here.
Here you will find a short video and write guide on how to stake MBXN on UpBots in this example we are using Metamask, however, WalletConnect compatible wallets are also now supported, this includes Trustwallet.
Step 1
Once you have your Defi wallet set up, it is easy to interact with the UpBots Staking Pools. Start by selecting staking from the menu and connect your wallet to UpBots.
Step 2
Make sure to select the correct network in your chosen wallet and also in the UpBots App for the staking pools you wish to use.
For Binance Smart Chain(BSC) staking pools select the BSC network in your wallet and the BSC option in the UpBots App. For Ethereum pools select the Ethereum mainnet network in wallet and ETH option in the UpBots App.
Step 3
Once you are set up to use the staking pools, select the pool you wish to use. For Staking MBXN use MBXN STAKING and for staking LP tokens use the LP pools.
LP tokens can be acquired by providing liquidity on UniSwap USDC/MBXN or PancakeSwap BUSD/MBXN liquidity pools and then your LP tokens you get for doing this can be staked to also earn MBXN rewards as well as the LP rewards for providing liquidity to the decentralized exchanges.
Step 4
Once you have selected the pool you wish to use you will need to connect your wallet and approve the pool for interaction with your wallet.
Step 5
Once the pool is approved you can the add MBXN to the pool and stake your tokens.
Set the amount of MBXN you wish to add to the pool, confirm and confirm the transaction in your wallet.
It may take some time for the transaction to go through, up to 2 hours depending on network conditions. Once confirmed, you will be able to see your MBXN by connecting your wallet and selecting the pool you are staking in.
Bonus Info
Once you are staked in a MBXN pool you will begin to receive rewards in MBXN which you can claim at any time by clicking claim and confirming the transaction.
If you wish to compound your rewards back into the staking pool, it can be done by claiming your rewards and adding them back to the pool.
You can also claim and exit the pool at any time if you wish by using the "claim and exit" button.
When a user stakes 2500 MBXN on UpBots they'll automatically unlock access to community algo bots. Once you complete the necessary steps above to stake MBXN on UpBots, you can then begin using the community algo bots in the "Algo Rental" section.
Its worth mentioning transaction or "gas" fees currently are lot smaller and more cost effective on the BSC network. The current gas fees on Ethereum blockchain are high because the network is overloaded. We are all hoping for an update to Ethereum soon that will make this situation better, for now if Gas is a barrier to entry for you it may be worth Bridging to BSC network and using the BSC MBXN staking and MBXN LP pools instead.
