MoonWalkerSwap is AMM Dex on Binance Smart Chain-based.

It looks a bit like Ethereum’s SushiSwap (community governance, the ability to farm liquidity provider tokens), but also incorporates many other features that let you earn rewards.

Introduction

This Space-based farming craze has captivated participants in the crypto space for months. In the latest wave of DeFi protocols, we’ve seen numerous platforms emerge that allow users to stake their funds in return for the protocol’s tokens.

The bulk of this activity has been concentrated on the Ethereum blockchain. As one of the earliest blockchains supporting smart contracts, it has a sprawling community of users, developers, and tools for building powerful decentralized applications.

In this article, we’ll take a look at MoonwalkerSwap— a decentralized exchange built on Binance Smart Chain (BSC).

What is MoonWalkerSwap?

MoonWalkerSwap is a decentralized exchange for swapping BEP-20 tokens.

MoonwalkerSwap HomePage

The MoonWalkerSwap exchange UI.

If you familiar with Uniswap or SushiSwap? Then you’ll have no issue grasping MoonWalkerSwap — they are quite similar in their core design.

The MoonWalkerSwap Exchange

MoonWalkerSwap uses an automated market maker (AMM) model. That means that while you can trade digital assets on the platform, there isn’t an order book where you’re matched with someone else. Instead, you trade against a liquidity pool.

Those pools are filled with other users’ funds. They deposit them into the pool, receiving liquidity provider (or LP) tokens in return. They can use those tokens to reclaim their share, plus a portion of the trading fees.

So, in short, you can trade BEP-20 tokens, or add liquidity and earn rewards. There are also other features we’ll cover later.

You’ll find these LP tokens — if you added, say, BUSD and BNB to the pool, you’ll receive DUST-BNB LP tokens in return.

Farming and staking on MoonWalkerSwap

But wait, there’s more! MoonWalkerSwap also allows you to farm its governance token — DUST.

On the farm, you can deposit your LP tokens, locking them up in a process that rewards you with DUST. Which LP tokens can you deposit? Well, the list is quite long, but here’s a taster of some of the most popular ones:

  • DUST — BNB LP
  • DUST — BUSD LP

The rewards don’t end here, however! You can earn even more by staking your DUST in SPACE pools.

So you’ve deposited some funds to receive LP tokens, and you’ve used them to farm DUST. From there, you can stake your DUST and earn other tokens through special staking pools.

The biggest SPACE pool is simply for DUST, where you can stake your DUST to earn even more DUST! But there are many more tokens you can earn by staking DUST, so be sure to keep an eye on the SPACE pool page.

Using MoonWalkerSwap

You’ll notice if you visit https://home.moonwalker.network that many features are inaccessible until you click on Connect Wallet. Click on it, and you’ll be met with a few options: MetaMask, Trust Wallet, WalletConnect, Binance Chain Wallet, and other options.

But wait, we hear you say, isn’t MetaMask an Ethereum wallet?

Yes, it is, but the architecture of Binance Smart Chain is such that you can use MetaMask to interact with BSC-based DApps. If you choose to use MetaMask, we suggest you check out our Connecting MetaMask with Binance Smart Chain guide.

Once you’ve got that set up, you can unlock your wallet to reveal additional information. You’ll see that different LP tokens promise different returns. So how can you add liquidity?

Adding liquidity

Again, if you’ve used any AMM previously, then you know the drill. To farm DUST, you need to first add liquidity to the exchange.

Navigate to Trade on the sidebar on the left, then click on Liquidity, hit Add Liquidity, and select the token pair that you want to deposit. Also, make sure you know about impermanent loss before adding liquidity to a pool.

Farming

Okay, so you’ve got your LP tokens, now it’s time to stake them to earn DUST. Navigate to the Farms tab, and select the option that matches your LP tokens.

As with ERC-20 tokens, you’ll need to approve the movement of BEP-20 tokens — this is what allows the contract to withdraw them on your behalf. When you click Approve Contract, a popup will ask you to confirm the transaction and display a fee.

Once that transaction confirms, simply select the amount you want to stake and confirm it. You can navigate away from the page and come back at any time to check how much DUST you’ve earned — if you want to harvest your rewards at any point, click on Harvest and confirm the transaction.

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Staking

Once you’ve got DUST, you can stake it in SPACE pools. Go to the Pools tab, and you’ll be presented with the pools where you can stake your DUST.

SPACE pools — stake DUST, earn new tokens.

Once again, you need to approve the withdrawal of your tokens. Hit Approve DUST to do so. When that has been approved, you’ll need to select the amount of DUST you want to stake.

Now that the DUST has been staked, you’ll be earning the reward token of the pool passively. If you’d like to cash out your rewards, click on Harvest.

IFOs

Initial Farm Offerings (IFO) are a way to get a newly launched token in the hands of users using the power of yield farming. On MoonWalkerSwap, you can do that by committing LP tokens from a supported pool to get access to the sale of a newly launched token.

You can check the currently active IFOs on MoonWalkerSwap on the IFO page.

Closing thoughts

MoonWalkerSwap is the newest AMM project on Binance Smart Chain (BSC) with some innovative features.

Ethereum may have kickstarted the DeFi trend, but initiatives like MoonWalkerSwap suggest that the wave of innovation is destined to spread to other chains.

MoonWalkerSwap Exchange