If you’ve got your hands on some crypto to stake in a Moonpot, connecting your wallet and entering Moonpots can be done in just a few easy steps. Don’t forget you’ll also need some BNB in your wallet for transactions fees. Moonpot is built on Binance Smart Chain (BSC), so make sure your BNB is a BEP-20 token on BSC. You cannot use BEP-2 BNB on Binance Chain to pay transaction fees.
Once you’re confident you’ve got everything you need, it’s time to enter a win-win lottery! Let’s use the CAKE Moonpot as an example:
- Go to moonpot.com and click the [Play] button to continue.
You’ll now see a list of all the available Moonpots. As per our example, let’s start staking in the CAKE Moonpot. Click [Play with CAKE] for more details on depositing.
Connect your wallet, to Binance Smart Chain. Then comes the time to enter the amount of crypto you want to stake. You can also press [Max] to stake all your holdings and see the prize split with the drop-down arrow.
We’ve decided we want to put 10 CAKE in the CAKE Moonpot. Once you’re happy with the amount you want to stake, click [Deposit].
10 CAKE is the minimum requirement if you are registered for the SafePal WHO airdrop. You can deposit as much CAKE as you like, and you can deposit straight away. You don’t need to wait till the end of the Whitelisting on the 22 July.
Just make sure if you want to get the $POTS airdrop that you use the same wallet to deposit your CAKE, as you did to sign up for the WHO.
You’ll now get to confirm the details of your deposit before adding your funds.
Remember, once you’ve entered a Moonpot your crypto will be locked for ten days as part of the Fairplay Timelock.
The prizes come from the interest generated by all the Moonpot players, so we need a system to keep the game fair.
There is a basic ten-day Fairplay Timelock to prevent players from depositing right before the draw and then withdrawing quickly afterward.
If you want to withdraw earlier you’ll pay a 2.5%, or less, Fairness Fee. The Fairness Fee reduces every second down to zero over ten days.
Depositing more CAKE will reset your Fairness fee to a maximum of 2.5%, for your additional deposit.
If you win the prize, your Fairness Fee will be reset to 5% and reduce to zero for ten days after winning. These measures prevent bad actors from manipulating the prize draws.
Click [Confirm deposit] once you’re happy with the amount, returns, and other information.
Congratulations! You’ll now have successfully entered a Moonpot and can start earning interest.
Checking the lottery draw
Don’t forget to check back next week to see if you’ve won any of the prizes given away in each Moonpot. You can do this by heading to the [My Active Pots] section of the app. This area will show you all the Moonpots you’ve deposited and when the next draw is.
If you have been lucky enough to win a prize, you’ll be presented with the details of your win as well as any interest you’ve also earned. Your winnings will be automatically added to the Moonpot for you to withdraw at the end of your Fairplay Timelock.
If you didn’t win this time, you’ll still get a breakdown of the interest you’ve earned so far.
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