Nov 4, 2021
DeFi Product — HONEY&BNB
What is Honey (HoneyFarm Finance)?
HoneyFarm Finance is a layered delegated yield farming project with deflationary tokenomics of a maximum supply in previous layers.
Drawing on their experience as investors and managers of various DeFi projects, the team acknowledged that another most important element of a DeFi project for investors is knowing when the project will end.
Since most DeFi projects are inflationary, all projects end their lifespan at some point. For a project that is fair and profitable for all, the team thought it best to announce the end of the token supply before the project starts.
In addition, tiered agriculture will give investors more options to diversify their investment strategies.
For Layer4, HoneyFarm team will focus on making strategic alliance with several partners through features like IHO to create wide-range of eco-system that HoneyFarm’s native tokens will be used and bturned.
Honey Farm Road Map
Phase 1 ☝
1. Expansion through Multi-Chain
Multi-chain networks such as Polygon, Fantom and Okex Chain to expand the ecosystem of HoneyFarm. This will be announced with more details soon.
2. Scheduled to be listed on major exchanges
3. Busy Bee Mega Update
4. Honey Pot
Phase 2 🤘
5. Governance DAO
6. AMM DEX :
The last goal for HoneyFarm is to be Autonomous Market Making Decentralized EXchange, like Sushi, Uniswap and Pancakeswap.
Reason for recommendation:
- High probability of HONEY price increase
2. Great team.
3. Suitable as long trading coin
HONEY-BNB DeFi Participation Method — Web
Step 1: Access https://www.bitclover.io/
Step 2: Click Register at the top right to sign up!
Step 3: Wallet Creation (Metamask)
Search for Metamask Wallet in the Chrome Web Store, add extension and create wallet.
(TIP!! If you are using a browser other than Chrome, click [Allow extensions from other stores] at the top)
- Backup words need to be kept properly
Step 4: Add BSC Chain to Metamask Wallet
1) Click Metamask in the extension.
2) Click Network in the upper right corner to select custom RPC.
3) Complete the smart chain by entering and saving the information below.
- Network Name: Smart Chain
- New RPC URL: https://bsc-dataseed.binance.org/
- ChainID: 56
- Symbol: BNB
- Block Explorer URL: https://bscscan.com
Step 5:Buying BNB Coins on Exchanges
BNB Coin is used as an LP supply and fee for the corresponding DPI.
Step 6: Withdraw BNB from BICLOVER to MetaMask (BSC Chain)
Step 7: Add HONEY Coin to Metamask Wallet
Click Import tokens at the bottom of the wallet > Enter token contract address > Click Add custom token
HONEY contract address：0xFa363022816aBf82f18a9C2809dCd2BB393F6AC5
Step 8: BNB > HONEY Swap
Leave BNB to be used as a fee (about 0.01BNB) and swap 50% of the remaining amount to HONEY1）Access HONEY website (https://bee.honeyfarm.finance/) > Trade > Exchange
2）Click BEE > HOENY contract address input (0xFa363022816aBf82f18a9C2809dCd2BB393F6AC5)
3) Enter BNB to swap > Enter Confirm Swap > Check
Tip!! You can also check the contract address on Coin Market Cap
Step 9: Get ready before DEFI deposits — Link your wallet to HoneyFarm
After accessing HoneyFarm ( https://honeyfarm.finance/ ), click Connect in the upper right corner
Step 10: DEFI Deposit
Today, I will show you both LP and POOL methods. You can choose the method you want to proceed.☞DEFI Deposit Method 1: LP
1. Create an LP: Click Trade in the upper left corner and click Liquidity
Click BEE > Paste the contract address > Click I understand at the bottom left and click Import
Click HONEY MAX > Click Enable HONEY > Click OK in Metamask Wallet
Click in order
Successful in making LP !
2. DEFI Deposit
Return to Honey Farm and click Farm > Click HONEY-BNB
Click on Stake LP
Click MAX > Click Confirm
Deposit success!
☞DEFI Deposit Method 2: POOL
Click POOL > Click HONEY
Click Enble
Check Metamask (BSC)
Click Stake Token
MAX > Click Confirm > Confirm (BSC) in Metamask Wallet
HONEY Coin POOL has been deposited.
Note that a small amount of BNB is reserved as a handling fee ！！！
Thank you for reading.
Next week, we will also introduce hot DeFi products with high investment value.
Please look forward to it~
※ The above article is a simple information sharing, and all investments have a risk of loss of principal, so please choose them carefully.
