StepFarm — the first dedicated M2E decentralized exchange - Move to Earn. It was launched in July 2022 by an anonymous team and is used to exchange BEP20 tokens on the BNB chain, such as STEPN GMT and GST tokens.
Description of the StepFarm project
Users who add liquidity to pools become liquidity providers and receive LP tokens. LP tokens represent their share of the pool. StepFarm allows liquidity providers to farm some additional tokens such as the Green Farm Token (GFT) and stake on them to earn additional rewards.
StepFarm allows users to exchange their BEP20 tokens without using any centralized exchange. When you use StepFarm, your transactions come directly from your own wallet - you don't have to trust anyone, just trust the smart contract.
The DEX needs users and market makers to add liquidity to the pools so you can trade your tokens without too much slippage. Liquidity providers will receive LP tokens, which will earn them rewards when they place stakes on farms. Thus, the pools will attract liquidity.
Other features:
| 1. | Yield Farm's APR calculations are based on the APR of the farm's base rewards, earned when staking LP tokens on the farm. |
| 2. | Don't forget to stake your LP tokens to get rewarded. |
| 3. | The farm's base interest rate is calculated, according to the farm's multiplier and the farm's total liquidity. |
A liquidity provider who wants to be rewarded will use Yield Farming to stake their LP tokens. In return, he will receive several GFT tokens as a reward, according to the farm multiplier.
Work rules
To farm on StepFarm you need some GMT or GST and some BNB to pay for gas. A BEP20 wallet is also required. You can buy tokens on a CEX like Binance and withdraw them to your BEP20 wallet. If you already have tokens like BUSD and just need to exchange them for $GMT or $GST, select the token you want to send at the top and select the one you want to receive at the bottom. Fill in the amount of the token you want to send and confirm the transaction.