How to use INJ to get 180% annualized return?

特邀专栏作者

2021-04-13 22:05 (UTC+8)

This article is about 1096 words, reading the full article takes about 2 minutes

If you don’t particularly care about impermanent losses within 10%, both MDEX and Pancakeswap are pretty good “farms” that bring stable high returns to INJ holders.

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If you don’t particularly care about impermanent losses within 10%, both MDEX and Pancakeswap are pretty good “farms” that bring stable high returns to INJ holders.

Since the launch of Injective Staking, INJ has become an interest-earning asset, and INJ holders can obtain a maximum annualized return of 29%. Staking is similar to single-currency pledge mining in DeFi, with some differences, but from the results, it is all interest income after pledge. Generally speaking, the introduction of staking is the need for the self-maintenance of the blockchain network, so the income is less, while DeFi mining is a marketing behavior with higher income. In addition to Injective Staking, the editor summarizes other DeFi mining methods that can use INJ to obtain high returns.

MDEX

MDEX is a decentralized trading protocol based on an automated market-making mechanism. It aims to integrate the differentiated advantages of various basic public chains, create a high-performance composite DEX ecosystem, and use the "dual mining incentives" of liquidity mining and transaction mining "Give maximum rewards to participants, and realize a self-driven value capture ecological closed loop through the fee repurchase and destruction mechanism. Currently MDEX supports Heco public chain and BSC public chain. If you want to use INJ mining, you must switch to the BSC public chain.

1. First switch to the BSC Binance Smart Chain in the Metamask wallet. The setting parameters of BSC are shown in the figure below:

2. Enter the MDEX URLhttps://mdex.com/, link the wallet, click "More" in the liquidity mining.

3. Search for "INJ" in the search box, and after seeing INJ/BUSD, click "Mining" on the right. It can be seen that the current annualized rate of return is around 186%.

4. Click "Add Liquidity".

5. Enter the corresponding amount of INJ and BUSD to provide liquidity.

6. Go back to the fourth page, click "Authorize", and complete the wallet signature, then you can start DeFi mining, and the reward you get is MDX, the platform currency of MDEX.

PANCAKE

1. Pancakeswap is a DEX that runs on BSC and adopts the AMM mechanism. In addition to trading functions, it also has functions such as Farms, Syrup, Lottery, and IFO.

2. Like MDEX, first link the Metamask wallet and switch to the BSC network.

visit urlhttps://pancakeswap.finance/farms,Search for "INJ" in the search box in the upper right corner to find the INJ-BNB trading pair. It can be seen that the current annualized return is around 79%.

3. Click "Detail" on the right, and then click "Get INJ-BNB LP" to find the address that provides liquidity.

summary

At present, staking is similar to single-currency pledge mining, but the MDEX and Pancakeswap described above belong to dual-currency mining. You can see that you must combine BUSD and BNB to form a trading pair to become a liquidity provider and obtain the platform currency MDX or CAKE This is also the biggest difference between Staking and DeFi mining, and because it is dual-currency mining, there is a so-called "impermanent loss". If you don’t particularly care about impermanent losses within 10%, both MDEX and Pancakeswap are pretty good “farms” that bring stable high returns to INJ holders.

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