Ankr is teaming up with Ellipsis to give BNB holders a new opportunity to earn greater yields by combining liquid staking, liquidity mining, and yield farming. By combining these DeFi earning strategies, users have the option to stack other earning opportunities on top of a base layer of BNB staking rewards they will gain from Ankr Earn.
Ellipsis Finance is now allowing users to earn yields on the wBNB/aBNBb pair with a very low risk of impermanent loss due to how similarly priced these two tokens are. Let’s dive into how BNB holders can benefit from this chance to earn a higher APY on their funds.
1. Stake your BNB on the Ankr Earn platform
Navigate to the Ankr Earn platform and select the option to stake BNB.
With BNB Liquid Staking, Ankr will stake your BNB tokens with validator nodes we’ve selected while minting you new aBNBb tokens that are sent directly to your wallet. This is an ERC-20 reward-earning token that will distribute staking rewards to your wallet daily through rebasing. In other words, your wallet’s aBNBb balance will increase daily to reflect your staking rewards.
The best part is, you now have the option to use your aBNBb tokens for other earning strategies when using it to perform liquidity mining, lending, yield farming, and any other strategies on DeFi platforms. Let’s see what that looks like now.
2. Swap some BNB for Wrapped BNB using a DEX
Before we can add liquidity on the Ellipsis Finance DEX in the wBNB/aBNBb pair, we will need to swap some BNB for wBNB (unless you already have wBNB ready). Users can do this easily by heading to this option on PancakeSwap or ApeSwap. After this is done, you are ready to go to Ellipsis Finance!
3. Contribute aBNBb & wBNB to the pool and start claiming your share of trading fees
Go to Ellipsis Finance and head to the wBNB/aBNBb liquidity pool. Select “Add Liquidity” and connect your wallet containing both tokens. Then, select the amount of each token you want to contribute to the pool in return for a share in the trading fees.
4. Receive BNB staking rewards + Trading fees + ANKR rewards + More
Once you have contributed wBNB/aBNBb liquidity to the Ellipsis Finance pool, you are set up to claim rewards from a few different sources!
- Earn staking rewards in aBNBb through BNB liquid staking from Ankr Earn.
- Gain your share in trading fees and gain LP token rewards from the Ellipsis liquidity pool.
- Stake your earned Liquidity Provider tokens to earn the native EPS tokens as well as ANKR tokens for a limited time! (see below).
- Stake your new EPS tokens to earn rewards in the BUSD stablecoin.
Ankr is unlocking new multi-chain DeFi opportunities all the time — stay tuned for more updates to earn more with your BNB and other solutions for our supported chains!