First off we welcome BasketDAO to the CRΞ8R FAM! We have been watching from the days of the infamous Vampire attack on DPI! As an up and coming force in the world of DeFi content we vibe with the desire to innovate, borrow, and even go full Dracula attack mode. We are excited by the beginnings of what we hope will be a long and awesome partnership! Pls find a mash up of some BasketDAO goodies below. Lets get into it…
-CRΞ8R
BDI BY BasketDAO
BDI is an interest-bearing DeFi-bluechip Index, with 0 streaming fee.
Comprised of 15 carefully hand-picked assets, it gives you easy exposure to a very broad Defi protocol range. This token is a very nice choice if you are long on those protocols and more generally on DeFi.
One interesting feature of this index is that it is partially composed of interest bearing tokens. Meaning that by simply holding $BDI you are generating interest and the value of the token is automatically increasing over time.
You can view detailed breakdown on https://www.bdpi.live/
How to acquire BDI
There are 2 options to acquire $BDI:
Mint
To mint $BDI you have to go to https://www.basketdao.org/BDI. Then you will spend $ETH in order to mint $BDI . Please note that minting is very expensive gas wise, BasketDAO recommends getting BDI by swapping on Sushiswap (see below).
Also note that the minting function is currently paused !
Buy / swap
The second option is to buy it directly on Sushiswap. You can click on “buy BDI on Sushiswap”
You will be redirected to Sushiswap. Here you can swap some $ETH or any token you are holding (be careful about liquidity and slippage if you are using something else than $ETH)
Liquidity mining
When you are a happy holder, you can decide to keep your fresh BDI in your wallet, or you can use it to participate in a liquidity mining program and receive $BASK. Note that 200 BASK per day will be distributed and shared between LPs.
First, you have to provide liquidity in the BDI/ETH pool on Sushiswap.
- Go on Sushiswap
- Provide liquidity. You will have to provide $BDI and $ETH
- You will then receive LP tokens representing your share of the pool
Then, you have to stake your LP token on BasketDAO in order to receive $BASK rewards. Remember to do that step, otherwise you won’t receive those rewards.
To do this:
- Go https://www.basketdao.org/staking
- Enter the quantity of LP token you want to deposit
- Click on STAKE
Also note that you can also provide liquidity in a BASK / ETH pool and stake your LP tokens in order to receive $BASK.