Proposal to Upgrade Stader BNBx’s ($BNBX) Liquidity Pair for Farm Rewards from v2 to v3

Upgrade of Stader BNBx’s Liquidity Pair for Farm Rewards from v2 to v3

We are proposing to shift Stader BNBx’s Farm rewards from the current BNBX-BNB v2 LP to the new BNBX-BNB v3 LP.

We believe that transitioning to the BNBX-BNB v3 pair will further incentivize the liquidity for the BNBX token, and support healthy trading volumes for PancakeSwap. As a result of the concentrated liquidity model, the same amount of liquidity in v3, compared to v2, can support significantly larger trades.

For example, for a $500 trade, with a liquidity of $200,000 in the pool, v3 is about 8x more efficient than v2. (Assuming the v3 liquidity was added across a price range of +/- 25% of the current BNBX price.)

To ensure a smooth transition between v2 and v3 pairs, there will be an overlap of one day where there will be incentives directed towards both farms. This will occur on 4 May 2023.

After 0800 UTC on 4 May 2023, only the v3 pair will receive incentives, so users are encouraged to migrate in advance of this time.

The New Farm:

The proposed new v3 Farm will have the same emissions as the v2 farm. For example, if the v2 farm emits 10 CAKE per day, the proposed v3 farm will also emit 10 CAKE per day.

Other differences are the change of the liquidity pair and moving from the v2 farm to the v3 farm.

Previous v2 Farm:

• Stake BNBX-BNB LP, earn CAKE
• 1.9x multiplier
• 89 CAKE per day

New v3 Farm (0.05% fee tier):

• Stake BNBX-BNB LP, earn CAKE
• 4.6x multiplier
• 89 CAKE per day

In the future, the farm will be re-adjusted to a 0x multiplier unless the following metrics are comparable with other 4.6x multiplier farms: average daily volume, 14-day volume, unique token holders on BNB Chain, and there are no fundamental token issues or concerns related to users’ safety and security.

Key timelines

• Launch of BNBX-BNB v3 farm: Approx. 0800 UTC on 4 May 2023
• Sunset of BNBX-BNB v2 farm: Approx. 0800 UTC on 5 May 2023

How to migrate?

Please remember to shift your LP to the new farm before the v2 farm sunsets.

Please refer to the following link for migration instructions

What is Stader BNBx?

Stader Labs offers a convenient way for users to stake their assets. It offers liquid staking solutions across multiple chains - BNB Chain, Polygon, Hedera, NEAR, Fantom, etc.

With Stader’s BNB liquid staking solution, users can stake BNB and earn yields with capital efficiency. Users can also amplify their yields by deploying BNBx (liquid token for staked BNB) in DeFi.

What is $BNBX?

From the team: “BNBx is a reward-bearing liquid token. The value of 1 BNBx token vs. BNB increases over time as staking rewards accumulate.”

⚠️⚠️⚠️BEWARE OF FOOD POISONING⚠️⚠️⚠️

The official BNBX token contract address on Binance Smart Chain is:

https://bscscan.com/token/0x1bdd3cf7f79cfb8edbb955f20ad99211551ba275

​Any other BNBX token will be a scam. Always verify the token address before buying tokens. If you receive a BNBX token airdrop from another address, it’s probably a scam, and we advise you to ignore it.