How to use Piggy to earn a high APR?
- 1.Access Piggy.fi
Piggy Finance is a BSC Defi App which is a borrowing protocol with a 0 interest rate and the lowest collateral ratio. Piggy has launched on the BSC mainnet. Click here to view Piggy DAPP. You can find the Docs and Whitepaper on Piggy.fi.
2. Connect your wallet
- 1.After you click "Enter the app", you will see some Piggy general data and the "Connect wallet" button.
2. A wallet selection will pop up after clicking the "Connect wallet" button. Currently, Piggy supports MetaMask, Binance Chain Wallet, and WalletConnect. You can choose from them to connect the Piggy Dapp.
3. After connecting to your wallet, you will see more detailed information.
3. Open PiggyBank and borrow $PUSD
- 1.To start using Piggy Dapp, the first thing you should do is to open a PiggyBank. After opening a PiggyBank, put in some collateral and borrow $PUSD. Click the "Open PiggyBank" button to begin.
- 2.A popup will appear that will ask you to fill in the information about the collateral you want to add and the loan you want to borrow. Currently, we only support $BNB as collateral. Although we have the lowest collateral ratio of 110%, we suggest you to keep a higher ratio in order to prevent liquidation and redemption. You need to borrow 200 $PUSD at least.
After confirming all the information and the transaction, you will find the BNB added into your PiggyBank and you will receive the $PUSD in your wallet. You may not find your $PUSD in your wallet, but don't worry, check the "plus" sign beside the $PUSD in the top left corner, it will help to add the $PUSD to your wallet.
4. Deposit $PUSD to Stability Pool and earn the Pool reward
- 1.After you have $PUSD, you can deposit it to the Stability Pool to earn the liquidation reward and $PIGGY reward. You can access the Stability Pool from the sidebar menu.
2. Click "deposit" on the Stability Pool page.
3. After clicking the "deposit" button, fill in the $PUSD amount you want to deposit.
4. After the transaction is confirmed, you can earn $BNB as a liquidation reward and $PIGGY as a protocol reward. You can claim these rewards on this page as well.
5. Stake $PIGGY to Stake Pool and earn the pool reward
- 1.After you have $PIGGY, you can stake it to the stake Pool to earn the protocol fee. $PIGGY is a protocol token that is similar to a company share, as in you can earn a portion of protocol profits. Access the Stake Pool from the sidebar menu.
2. Click "stake" on the Stake Pool page.
3. After clicking the "stake" button, fill in the $PIGGY amount you want to stake.
4. After the transaction is confirmed, you can earn the BNB and $PUSD as a reward. Claim these rewards on this page as well.