Hello, I have done the staking. Once you press Harvest it triggers a timer of a year. My question is, the second time I press Harvest does that one apply to the time started already ? or It creates another timer of 1 year?
I believe it triggers 1 year for each time you harvest. For definitive answers, please ask in the BAO help channels of their discord: https://discord.gg/vmHAXQhAZS
I dont get it. I bought bao from uniswap. I opened a wallet on bao website then i get to deposit bao-eth tokens and when i put a number in it says a massive cost and insufficient funds. Do i get to choose how much bao i want to put in?? Do i have to buy bao with on uniswap again to loqd it?? Or can i choose to put a specific amount. I do only habe 14 bucks usd left in my account. Does that count? So confused lol
You need to pay GAS for every single transaction you make when interacting wtih Smart contracts on Ethereum. Gas prices vary a lot. They're SUPER high right now. If you have more questions that I can't answer, check out Bao's discord server for the help section. They have staff dedicated to helping: https://discord.gg/vmHAXQhAZS
Yes, ever action on the Ethereum blockchain costs gas. Unfortunately gas fees are very high right now! You have the option to wait to perform the operation when gas fees are lower.
A "long time" would likely turn into "never" in that case that you put it at 10%. Gas is painful right now! I don't really have any other suggestion than to wait to enter when gas prices go down, or just eat the fees & wait of normal or the "slow" settings in metamask.
When you participate in the farming here, you are issued BAO tokens as a reward. However, 95% those tokens are locked in a smart contract for 1 year after you click "harvest". After that 1 year, the tokens then start to release to you over then next 3 years. This is to discourage people from farming then instantly selling the token. It also helps the developers to give them more time to produce the product and get more support from the community.
Hey Benjamin, thanks for your great article and helpful responses. Is there more work to farming? The documentation for Bao clearly said you have to pay attention to project changes so i'm working how labor intensive it will be over the three years. Also, how do you know how often to Harvest or do you only do that once since the timer seems to restart for a year everytime you do it?
Hello, I have done the staking. Once you press Harvest it triggers a timer of a year. My question is, the second time I press Harvest does that one apply to the time started already ? or It creates another timer of 1 year?
I believe it triggers 1 year for each time you harvest. For definitive answers, please ask in the BAO help channels of their discord: https://discord.gg/vmHAXQhAZS
I dont get it. I bought bao from uniswap. I opened a wallet on bao website then i get to deposit bao-eth tokens and when i put a number in it says a massive cost and insufficient funds. Do i get to choose how much bao i want to put in?? Do i have to buy bao with on uniswap again to loqd it?? Or can i choose to put a specific amount. I do only habe 14 bucks usd left in my account. Does that count? So confused lol
You need to pay GAS for every single transaction you make when interacting wtih Smart contracts on Ethereum. Gas prices vary a lot. They're SUPER high right now. If you have more questions that I can't answer, check out Bao's discord server for the help section. They have staff dedicated to helping: https://discord.gg/vmHAXQhAZS
Hi Ben, when I try to stake my BAO-ETH UNIV2 Token at bao.finance there is an other fee of ~200€ (Gas) wtf is that normal? BR Karl
Yes, ever action on the Ethereum blockchain costs gas. Unfortunately gas fees are very high right now! You have the option to wait to perform the operation when gas fees are lower.
*every
Thank you very much for the fast answer! :)
BTW is there any other risk then "waiting a long time" if I but the Gas-price manually to 10% of the "normal" price?
A "long time" would likely turn into "never" in that case that you put it at 10%. Gas is painful right now! I don't really have any other suggestion than to wait to enter when gas prices go down, or just eat the fees & wait of normal or the "slow" settings in metamask.
Thank you Ben!
Hi Ben, muchas gracias! Excellent description and explanation, im looking forward to learn more with Chainwave!
Hi Ben, this is excellent. Thanks for this.
one question - what is locked BAO ? and when does this start accumulating?
Thanks in advance
When you participate in the farming here, you are issued BAO tokens as a reward. However, 95% those tokens are locked in a smart contract for 1 year after you click "harvest". After that 1 year, the tokens then start to release to you over then next 3 years. This is to discourage people from farming then instantly selling the token. It also helps the developers to give them more time to produce the product and get more support from the community.
Hey Benjamin, thanks for your great article and helpful responses. Is there more work to farming? The documentation for Bao clearly said you have to pay attention to project changes so i'm working how labor intensive it will be over the three years. Also, how do you know how often to Harvest or do you only do that once since the timer seems to restart for a year everytime you do it?
Great guide Ben. They're is another guide that says you can use 1inch to buy Bao. Thought ppl might like to know.
Do I have to wait for my BAO to accumulate before I harvest? How does the earned BAO relate to the locked BAO?