How to farm 寶 Bao… and why????

First I’ll tell you how to farm Bao to get high yields by staking your Ether on Bao. I’ll explain why (and why not) at the end. Ape in and follow the tutorial as you read, or read carefully and do your research. Here is my referral link if you’d like to thank me for writing this!

1. Buy some ETH. Decide how much you want to spend on a Bao farm. You are going to need extra ETH to cover the gas and transaction fees. Fees will cost you about 10–15% of your Bao farm.
2. Install Metamask in your browser. You’ll need Metamask to interact with most Ethereum apps.
3. Transfer ETH to your Metamask wallet.
4. Go to 1Inch the DEX aggregator and connect your Metamask wallet. https://1inch.exchange/
5. Swap half of your ETH for BAO. https://1inch.exchange/#/r/0x3bC3c8aF8CFe3dFC9bA1A57c7C3b653e3f6d6951/ETH/BAO
6. Go to Uniswap Exchange, connect your Metamask wallet. https://uniswap.exchange/
7. Add Liquidity to the BAO-ETH pair. This uses an even match of BAO and ETH. https://uniswap.exchange/add/0x374cb8c27130e2c9e04f44303f3c8351b9de61c1/ETH
8. Go to Bao and connect your Metamask wallet. http://bao.finance
9. Click Menu and then select Bao Party.
10. Approve the BAO-ETH UNIV2 contract.Once Approved, staking should become an available option.
11. Click the “+” Icon to the right of the Stake Button in order to add your BAO-ETH to the contract.
12. Avoid un-staking for at least 5 days or you’ll get dinged by high fees.
13. Hold for 3 years for maximum yield.
14. The APY for BAO goes down as more people get into the staking mining pool. The APY also cuts in half in 10 weeks (it cut in half today as we are in Week 9)
15. After you buy Bao, you should harvest your rewards before March 1st to ensure you “lock them in”. Your BAO doesn’t become locked until you harvest it.
16. When do harvest, 5% of your earned BAO will go to your wallet, and the other 95% will show up under your Locked BAO amount.
17. Sometime early December this year, BAO will begin to unlock. Once the unlock period begins, an equal portion will unlock every day for the next 3 years.
18. Read the Docs: https://docs.bao.finance/distribution-tokenomics (Docs are like white-papers)
19. Join their Discord to keep up to date: https://discord.gg/BW3P62vJXT
20. Read the Baoman’s blog: https://thebaoman.medium.com/
21. Watch the Baoboard to look for other rewards: https://baoboard.com/

5 Reasons why you should farm Bao:

1. High ROI. BAO Farming currently yields 1834.3259% annual ROI or 152.8605% monthly ROI. This number changes based on the number of Bao stakeholders. https://docs.bao.finance/distribution-tokenomics
2. Bao is a synthetics market. Synthetics are like derivatives and let you trade/bet for or against almost anything. What makes BAO different than any other project that offers synthetic assets is that you will be able to trade “synths” minted with BAO on DEXs such as Sushiswap or Uniswap. It’s closest competition is Synthetix which requires you to trade synths on Kwenta.io or Synthetix.Exchange
3. FTX listed Bao yesterday. There were $1.3M & 2.5M buys yesterday one from Binance one from FTX BAO volume per day would put it in Binance Top 10 coins.
4. Bao allows Bao stakeholders to vote on the direction of the project.
5. Bao is tasty.

5 Reasons why you should NOT farm Bao:

1. High Risk.
2. Bao has just one developer.
3. Bao has a meme icon and name.
4. Bao is not easy.
5. Bao has high fees: (Bao is moving to xDAI on March 1st for lower fees.)

• 0.75% deposit fee
• 0.1% after 4 weeks. Standard withdrawal fees are applied when a user stays in the yield farming for >5 days
• 0.25% after 2 weeks but before 4 weeks.
• 0.5% after 5 days but before 2 weeks.
• 1% fee if a user withdraws under 5 days.
• 2% fee if a user withdraws under 3 days.
• 4% fee if a user withdraws under 1 day.
• 8% fee if a user withdraws under 1 hour.
• 25% slashing fee if user withdraws in the same block.