Robonomics x PancakeSwap: Buy and Add Liquidity on PancakeSwap

Samsara
Robonomics Network by Airalab
5 min readMar 16, 2021

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PancakeSwap, DEX on the Binance Smart Chain.

We’ve heard your supportive feedback on the availability of XRT on the Binance Smart Chain. So it’s time for the next step, PancakeSwap.

Robonomics on PancakeSwap? Yes, that’s indeed what is happening. After a “leak” by Andre Cronje sending out a tweet with XRT on Anyswap, the news about XRT being available on BSC was out. So it’s time to dive into PancakeSwap!

Already up and running on the Binance Smart Chain with MetaMask? Then skip the first part. New to BSC? Let’s dive in.

Adding Binance Smart Chain (BSC) to MetaMask

Adding the Binance Smart Chain network to MetaMask isn’t that hard. To add the BSC network to MetaMask you just need some information about the chain which can be found in the Binance Docs.

Network Name: Binance Smart Chain
RPC URL: https://bsc-dataseed.binance.org
Chain ID: 56
Symbol: BNB
Block Explorer URL: https://bscscan.com

Open MetaMask and select the network on top which will show an overview of networks, select Custom RPC.

Fill out the required information with the information provided above.

Adding the Binance Smart Chain data to MetaMask.

That’s it! Now you got MetaMask connected with the BSC chain and almost ready to start swapping. The next step is to add funds.

Binance Smart Chain, BEP20 and sending funds safely.

As you’ve already noticed we’re working with a different chain so there should be caution with sending funds. With a BSC address you can only receive BEP-20 tokens, the token standard on the Binance Smart Chain. So when sending tokens such as USDT, BUSD, ETH, BNB or any token available on BSC to this wallet address, always make sure you select BEP20(BSC) network tokens.

Selecting the right network: BEP20 is the token standard of the Binance Smart Chain

On the Binance Smart Chain you are paying the fees in BNB, so before you start, send some BNB to your wallet and some funds to use on PancakeSwap. You can use https://bscscan.com/ which should look familiar for Ethereum users.

Robonomics x PancakeSwap x Binance Smart Chain

In this tutorial you will be guided through the process of buying Robonomics XRT tokens and adding liquidity on PancakeSwap.

PancakeSwap is a Decentralized Exchange (DEX) on the Binance Smart Chain. Just like Uniswap, Sushiswap and other DEX’s you can swap tokens. The biggest advantage of the BSC Network is the fact that you pay a much lower fee for a swap and other transactions. The fees on ETH are obviously the main reason which lead to the current popularity of BSC.

In the previous step we’ve sent funds from an exchange in the native BEP20 token. Now head over to PancakeSwap and connect with your MetaMask wallet.

Select MetMask and accept the MetaMask pop-up

Now that you have connected MetaMask to PancakeSwap, you can start using the platform. Let’s start off with buying some XRT.

Navigate to the swap page of PancakeSwap, which is listed under Trade > Exchange. For most DEX users, the user interface of PancakeSwap would be very easy to use as it has a great resemblance of the Uniswap interface.

To swap your tokens to XRT on PancakeSwap you need to add the token contract-address. Similar to Etherscan, you can search for tokens on BSCscan.

Navigate to https://bscscan.com/ and search for Robonomics XRT token.

1. Search for Robonomics (XRT): 0xc0a51ac9d548bdcde53fa59448029e41a39feb20
Look for the contract address on the right side.

Copy the contract address, return to the PancakeSwap exchange page and add the Robonomics XRT contract address.

2. Adding the Robonomics XRT token to PancakeSwap.
  1. Select currency
  2. Paste the Robonomics (XRT) BSC contract address.
  3. Click on “Add Token”
  4. Voila, XRT has been added to PancakeSwap.

Now select the currency you want to use to buy XRT, in this example we used BUSD.

3. Swapping BUSD for XRT.
  1. Approve BUSD to be spent.
  2. Now you have BUSD as input currency [FROM].
  3. Select XRT as the output currency [TO].
  4. Select “SWAP” and accept the transaction confirmation.
  5. Your BUSD has been swapped to XRT!

Adding liquidity to PancakeSwap and receive rewards!

In this next step we are going to add liquidity to PancakeSwap.

On the Ethereum network we are already incentivizing Liquidity Providers on Uniswap with rewards in XRT. More info about the XRT Liquidity Event can be found at: https://www.robonomics.events/#/liquidity

The rewards you will receive are based on the amount of XRT staked in the liquidity pools on Uniswap and PancakeSwap.

Currently the weekly reward for providing 1% of the LP is 13 XRT.

Weekly rewards based on the total of XRT staked in Liquidity Pools/

Users who will provide liquidity for the BUSD-XRT pair on PancakeSwap, will be eligible for receiving rewards based on their share of the liquidity pool!

Now, how to add liquidity on PancakeSwap?

Navigate to Trade >Liquidity in the menu which will open up the liquidity pool page.

Adding liquidity on PancakeSwap.
  1. Select “Add Liquidity”.
  2. Select the token that you want to combine with the XRT token, in this example we used BUSD and XRT for the liquidity pool (LP).
  3. Select the amount of tokens you want to provide to the LP.
  4. Click on Supply, verify the transaction in MetaMask and wait for the confirmation.
  5. You just added liquidity to the XRT pool and ready to start receiving rewards!

To check your Liquidity Pool statistics, navigate again to the liquidity page and you will see your pools you’ve added.

Summary

And that’s it!

You’ve managed to add the Binance Smart Chain to MetaMask, sent the right funds to your wallet (BEP20), bought XRT on PancakeSwap and added liquidity to the pool to be eligible for the Liquidity Rewards!

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