Coin98 Wallet has made significant strides by successfully integrating BabySwap into its dApp Browser, thus becoming one of the official cryptocurrency wallets for the Automated Market Maker (AMM) platform. This integration allows users to leverage the platform’s advanced features seamlessly, positioning Coin98 Wallet as a leading multi-chain wallet and a top gateway for decentralized finance (DeFi) in Asia.
BabySwap Overview
BabySwap serves as a decentralized exchange (DEX) that combines AMM and NFT functionalities, specifically catering to emerging projects within the Binance Smart Chain (BSC) ecosystem. This platform stands out from other AMM decentralized exchanges on BSC by enabling users to engage in swaps using USDT rather than the more commonly used BNB or BUSD. Alongside hot token exchanges, BabySwap offers various yield-generating opportunities, including Yield Farming, Snack Pool, NFT Ecosystem, Playground, and Initial DEX Offerings (IDO).
How to Start Using BabySwap
To dive into BabySwap, users first need to download and install Coin98 Wallet, which is available on both iOS and Android. Detailed guides and tutorial videos are provided to assist new users in setting up the Coin98 Mobile Wallet. Additionally, the Coin98 Extension Wallet supports both Chrome and Firefox, allowing users to install it directly on their computers.
Users must create a Binance Smart Chain wallet (BEP20 tokens) since BabySwap operates on this blockchain. After installing Coin98 Wallet, they can follow the guidelines to create or restore a BSC wallet. Existing Coin98 Wallet users should import their multi-chain wallets to access the latest updates for Binance Smart Chain and other integrated blockchains. When using BabySwap, assets like USDT, BUSD, or BNB must be transferred to the BEP20 wallet. If users mistakenly transfer assets to TRC20, ERC20, or SPL wallets, they can utilize the Coin98 Wallet Cross-Chain Bridge feature to convert these assets into BEP20 tokens directly within the app, eliminating the need for additional transfers to Binance.
Prepare BNB to Pay for Gas Fees
Because BabySwap requires BNB for gas fees, users need to ensure they have enough BNB in their accounts to start trading. The transaction fees on BSC are generally low, with BabySwap currently charging around 0.25% per swap, making it a cost-effective option compared to Ethereum’s fees. With everything in place, users can begin trading.
How to Use BabySwap on Coin98 Mobile Wallet
To access BabySwap, users should log into their Coin98 Wallet, click on the Browser tab, and select BabySwap from the Exchange section of the DApp Store or search for it directly. The swapping process involves several steps: after connecting to the BSC network, users can select the trading pair they wish to swap, enter the desired amounts, and confirm the transaction while ensuring they retain enough BNB to cover gas fees. It is advisable not to click “MAX” when swapping to avoid insufficient funds for transaction fees.
After confirming the swap, users can view transaction details or check their transaction history. Adding liquidity to pairs like BNB and BABY follows a similar process, with users selecting “Add Liquidity” and entering the desired amounts. After confirming the details and sending the transaction, users can monitor their contributions to the liquidity pool.
Farming
Once users hold LP tokens from previous steps, they can participate in farming to earn BABY coins. This involves selecting a farm, enabling participation, and staking LP tokens. Users can track their farming progress and harvest BABY tokens as desired, with the system charging minimal fees for these actions.
Stake on Snack Pools
In Snack Pools, users can stake BABY coins or other BEP20 tokens to accumulate additional BABY tokens based on their investments. The process requires selecting a pool and approving transactions to stake their tokens. Users can view their staked amounts and make adjustments easily, all while incurring minimal fees.
Stake on NFB Pools
Users can also stake NFB tokens through a similar process in NFB Pools, allowing them to maximize their earnings by participating in different staking opportunities.
Join IDO
Initial DEX Offerings (IDO) allow users to acquire tokens at favorable prices during the launch of new projects by staking USDT. To participate in IDOs on BabySwap, users must prepare USDT in their wallets and follow the outlined steps to commit their funds and claim tokens post-IDO.
Using BabySwap with Coin98 Extension Wallet
The latest version of Coin98 Extension Wallet enables easy connections to DApps while optimizing transaction fees and processing speed. Users can swap tokens directly through the BabySwap interface, ensuring they retain enough BNB for gas fees during the process.
Playground System
The Playground system offers a “Play to Earn” experience, where users can engage in various games to earn tokens. Participants can select games and follow instructions to complete required actions for rewards.
Milk Bottle System
The Milk Bottle initiative is a platform for supporting project development, allowing users to vote using BABY tokens. The top projects receive funding based on the community’s support each week.
Benefits of Using BabySwap on Coin98 Wallet
For both newcomers and seasoned DeFi users, leveraging BabySwap through Coin98 Wallet offers numerous advantages. The integration simplifies wallet connections, while the DApp Browser ensures smooth access to decentralized applications without interruptions. Coin98 Wallet prioritizes user security by verifying DApp addresses, protecting users from scams and fraudulent activities.
Additionally, the Cross-chain Bridge feature enhances user experience by enabling seamless token conversions directly within the wallet. Users can explore various multi-chain DApps through Coin98 Wallet’s Browser, anticipating future integrations for expanded opportunities.
Summary
This article has provided a comprehensive guide on optimizing profits with BabySwap. It aims to assist users in navigating BabySwap effectively through Coin98 Wallet. As opportunities in the crypto market, such as Testnets, Airdrops, and Play to Earn projects, continue to arise, users are encouraged to stay informed by following the Coin98 Earn section. For any inquiries, users can engage in discussions or seek support in the Coin98 Wallet Chat group.
