DeFi with TokenPocket | Use PancakeSwap with TokenPocket

4 min readSep 27, 2020

About Binance Smart Chain

Binance Smart Chain is an innovative solution to bring programmability and interoperability to Binance Chain. Binance Smart Chain relies on a system of 21 validators with Proof of Staked Authority (PoSA) consensus that can support short block time and lower fees. The most bonded validator candidates of staking will become validators and produce blocks. The double-sign detection and other slashing logic guarantee security, stability, and chain finality.

The Binance Smart Chain also supports EVM-compatible smart contracts and protocols. Cross-chain transfer and other communication are possible due to native support of interoperability. Binance DEX remains a liquid venue of the exchange of assets on both chains. This dual-chain architecture will be ideal for users to take advantage of the fast trading on one side and build their decentralized apps on the other side.

About PancakeSwap

As an Automatic Market Maker, PancakeSwap allows the swap between two tokens on BSC. It is fast, cheap, and inclusive.

Make You Pancake with TokenPocket

The latest version of TokenPocket has supported BSC with the following updates:

BSC supported
BSC DeFi ecosystem supported
BSC wallet creation supported
BNB and BEP20 token deposit and transfer supported

PancakeSwap involves many functions, including [Swap], [Collateral mining], [Staking], [Vote], etc. Now let’s dive into it.

[Swap]

Open TP Wallet, set BSC wallet as the underlying wallet, and search for PancakeSwap in [Discover].

2. The main menu is located at the top of the DApp page. Currently [Voting] is still in development and will be added later. In [Swap], you only need to select the tokens you want to swap and enter the amount, tap on Swap on the bottom and grant approval for the transaction.

3. Transaction fee on BSC is low. Please wait until the transaction is complete.

4. The transaction history is not available at the moment, which will be added in the next version update. But you can consult your transaction history through the blockchain explorer: https://bscscan.com/

[Collateral Mining]

Collateral mining adopts the LP collateral certificate mining mechanism. Hence, we need to add the trading pair for market making to the liquidity pool. Tap on [Pool] and [Add liquidity], and choose a pair (e.g. BNB/BUSD). Then tap on [Approve BUSD] and approve the transaction.

2. After the approval, tap on [Supply] to send the tokens. You will be able to see your market making history in the pool.

3. Tap on [Farm] at the top and select the BUSD-BNB pool, and select [Approve BUSD-BNB FLIP].

4. After approval, tap on [+], set the FLIP amount on the collateral page and approve the transaction.

[Staking]

1 CAKE = 1 SYRUP. Staking CAKE can bring you SYRUP, while holding SYRUP can give you not only CAKE rewards, but also CAKE lottery and the right to participate in governance.

2. Set the amount for the staked CAKE, tap on [Confirm] and you will see the amount of CAKE you staked, the amount of CAKE rewards for you to claim, as well as the SYRUP it brought to you. Tap on [Unstake] to unstake your CAKE and claim the rewards.

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