Defi Strategies Using FLUX Protocol: Part 4

Utilizing FLUX with Binance Smart Chain

In this Defi Strategy, we will examine the Binance Smart Chain (BSC) network while utilizing FLUX Protocol to leverage our token holdings. We will be using BUNNY Finance to earn a high percentage auto-compounding APR, offsetting the borrowing APY from FLUX. This will lead to a positive gain over time if we can hold for a few weeks/months. Remember, when we supply/borrow assets on FLUX, we are simultaneously mining $FLUX tokens. Also, due to the recent market crash and a flash loan discrepancy on Bunny, which has since been resolved, I strongly believe that the $Bunny token will bounce back thus giving us further gains. If you do not want to speculate and purchase $BUNNY tokens that is perfectly reasonable!! BUNNY Finance offers a vast amount of staking pools that you can choose from based on your comfortability.

With this strategy, users can accumulate $BUNNY tokens to reinvest in other auto-compounding pools while accumulating different tokens, invest in LP pools on Pancakeswap, or exchange for tokens on other AMM Dexes. Feel free to check out the pools that BUNNY offers before you complete this strategy as you may want to alter the method that best suits your needs. I encourage users to get creative with the possibilities that this strategy offers to really maximize your earnings in the BSC ecosystem!

To begin, we have already supplied BNB to FLUX using the BSC wallet to benefit from the 10% total APY earnings. We also have a small amount of BNB in our wallet to approve transactions much like the ETH Network. If you need assistance with downloading BSC wallet or configuring your Metamask check here.

Next, We will borrow BUSD to reduce our risk of token price fluctuations in the future. In this case, we are borrowing ~222 BUSD tokens from our initial supply of BNB.

Now that we have our stablecoin, head over to Bunny Finance to “ZAP” the BUSD into $Bunny Tokens. You can also use a DEX like Pancakeswap to swap the tokens.

An easy way to convert one token to another without leaving the protocol.

Approve the transaction

Using Pancakeswap to show another option

Go to the “Pool” section on Bunny Finance and here we can see a large selection of pools to stake our tokens. We want to take advantage of the boost that is currently being offered in minting $Bunny tokens. Select the appropriate pool.

Click “Approve BUNNY Boost” and approve the transaction of spending of your tokens.

Finally, click “MAX” on the deposit tab and click “DEPOSIT”

Watch your earnings accumulate in real time!

Your also welcome to try other auto-staking platforms of your choosing! Feel free to share your thoughts below!



Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Taylor Wall

A cryptocurrency researcher and investor looking to share information to those who will listen