Libera BUSD Miner is a DeFi protocol that allows users to earn passive income by staking BUSD, a stablecoin pegged to the US dollar and receiving rewards in the form of LBRA tokens, the native token of the Libera ecosystem. In this article, we will discuss how to join and use the Libera BUSD Miner protocol.
Step 1: Create a Wallet To start using the Libera BUSD Miner protocol, you will need a Binance Smart Chain (BSC) compatible wallet. To interact with the protocol, you can use any BSC-compatible wallet, such as MetaMask, Trust Wallet, or Binance Chain Wallet.
If you do not have a BSC-compatible wallet, you can create one by following these steps:
Download and install a BSC-compatible wallet of your choice (such as Metamaks or Trustwallet).
Create a new wallet by following the instructions provided by the wallet provider.
Once you have created the wallet, make sure to save the seed phrase or private key in a safe and secure place.
Step 2: Add Funds to your Wallet Before you can start staking on the Libera BUSD Miner protocol, you need to have some BUSD in your wallet. You can buy BUSD from any cryptocurrency exchange that supports the Binance Smart Chain.
Once you have purchased BUSD, you can transfer it to your BSC-compatible wallet by following these steps:
Open your wallet and click on the ‘receive’ button.
Copy your wallet address.
Go to the cryptocurrency exchange where you bought BUSD and initiate a withdrawal.
Paste your wallet address in the recipient field and enter the amount of BUSD you want to transfer.
Confirm the transaction and wait for the funds to arrive in your wallet.
Step 3: Join the Libera BUSD Miner Protocol Now that you have some BUSD in your wallet, you can join the Libera BUSD Miner protocol by following these steps:
Go to the Libera BUSD Miner website at libera.financial/libera-busd-miner.
Click on the ‘Connect Wallet’ button in the top right corner of the page.
Select the BSC compatible wallet you want to use.
Allow the website to connect to your wallet by clicking on the ‘Connect’ button.
Once your wallet is connected, you can see your BUSD balance in the ‘My Wallet’ section.
To start staking, enter the amount of BUSD you want to stake in the ‘Stake Amount’ field and click the ‘Stake’ button.
Step 4: Earn LBRA Rewards Once you have staked your BUSD on the Libera BUSD Miner protocol, you will start earning LBRA rewards. The LBRA rewards are distributed proportionally to the amount of BUSD you have staked and the duration of your staking.
To claim your LBRA rewards, you need to manually harvest them by following these steps:
Go to the ‘My Stakes’ section of the Libera BUSD Miner website.
Click on the ‘Harvest’ button next to your staked BUSD.
Confirm the transaction in your BSC-compatible wallet.
The LBRA rewards will be added to your wallet balance.
Step 5: Unstake your BUSD If you want to unstake your BUSD, you can do so by following these steps:
Go to the ‘My Stakes’ section of the Libera BUSD Miner website