A Guide to PrinterShares Finance
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In the latest wave of DeFi protocols, we’ve seen numerous platforms emerge that allow users to stake their funds in return for the protocol’s tokens. In this article, we’ll take a look at PrinterShares – a decentralized protocol built on Binance Smart Chain (BSC).
PancakeSwap uses an automated market maker (AMM) model. That means that while you can trade digital assets on the platform, there isn’t an order book where you’re matched with someone else. Instead, you trade against a liquidity pool.
Those pools are filled with other users’ funds. They deposit them into the pool, receiving liquidity provider (or LP) tokens in return. They can use those tokens to reclaim their share, plus a portion of the trading fees.
So, in short, you can trade BEP-20 tokens, or add liquidity and earn rewards. There are also other features we’ll cover later.
You’ll find these LP tokens in several flavors – if you added, say, BUSD and BNB to the pool, you’ll receive BUSD-BNB LP tokens in return. BETH and ETH? You’ll get BETH-ETH LP tokens.
But wait, there’s more! PrinterShares also allows you to farm its governance token – PTS.
On the farm, you can deposit your LP tokens, locking them up in a process that rewards you with PTS. Which LP tokens can you deposit? Well, here’s a taster of some of the most popular ones:
PTS - BUSD LP
PTS - BNB LP
PTS - FLS LP
FLS - BNB LP
BNB - BUSD LP
USDT - BUSD LP
BTCB - BNB LP
ETH - BNB LP
DAI - BUSD LP
USDC - BUSD LP
DOT - BNB LP
CAKE - BUSD LP
CAKE - BNB LP
The rewards don’t end here, however! You can earn even more by staking your PTS in PAPER pools.
So you’ve deposited some funds to receive LP tokens, and you’ve used them to farm PTS. From there, you can stake your PTS and earn other tokens through special staking pools.
The biggest PAPER pool is simply for PTS, where you can stake your PTS to earn even more PTS! But there are many more tokens you can earn by staking PTS, so be sure to keep an eye on the PAPER pool page.
You’ll notice if you visit https://pancakeswap.finance that many features are inaccessible until you click on Unlock Wallet. Click on it, and you’ll be met with a few options: MetaMask, Trust Wallet, WalletConnect, Binance Chain Wallet, and other options. Once you’ve got connect, you can add liquidity. Again, if you’ve used any AMM previously, then you know the drill. To farm PTS, you need to first add liquidity to the exchange.
Navigate to Trade on the sidebar on the left, then click on Liquidity, hit Add Liquidity, and select the token pair that you want to deposit. Also, make sure you know about impermanent loss before adding liquidity to a pool.
Okay, so you’ve got your LP tokens, now it’s time to stake them to earn CAKE. Navigate to the Printers tab, and select the option that matches your LP tokens.
As with ERC-20 tokens, you’ll need to approve the movement of BEP-20 tokens – this is what allows the contract to withdraw them on your behalf. When you click Approve Contract, a popup will ask you to confirm the transaction and display a fee.
Once that transaction confirms, simply select the amount you want to stake and confirm it. You can navigate away from the page and come back at any time to check how much PTS you’ve earned – if you want to harvest your rewards at any point, click on Harvest and confirm the transaction.
Once you’ve got PTS, you can stake it in PAPER pools. Go to the PAPERS tab, and you’ll be presented with the pools where you can stake your PTS.
Once again, you need to approve the withdrawal of your tokens. Hit Approve PTS to do so. When that has been approved, you’ll need to select the amount of PTS you want to stake.
Now that the PTS has been staked, you’ll be earning the reward token of the pool passively. If you’d like to cash out your rewards, click on Harvest.
That’s great, but what else can you do with your PTS? Well, you can enter a lottery on PrinterSHares Finance.
Each lottery session takes 6 hours. One ticket costs 10 PTS, which will give you a random four-digit combination of numbers between 1 and 14, for example, 12-8-4-3. To win the jackpot (50% of the entire lottery pool), the numbers in your ticket need to match all four numbers in the same position as the winning ticket.
What if you don’t match all four? No worries. You also win rewards if two or more of your numbers are in the same position as the numbers in the winning ticket.
Initial Farm Offerings (IFO) are a way to get a newly launched token in the hands of users using the power of yield farming. On PrinterShares Finance, you can do that by committing LP tokens from a supported pool to get access to the sale of a newly launched token.
You can check the currently active IFOs on PrinterShares on the IFO page.
