Important Announcement: Changes to BUSD Support for $GUILD:BUSD Staking and Liquidity Pool
BlockchainSpace (BSPC) is discontinuing staking for $GUILD on the Binance Smart Chain (BSC) and replacing $GUILD:BUSD liquidity pool with $GUILD:USDT in PancakeSwap starting October 31, 2023.
Dear BlockchainSpace Community,
We have an important update regarding changes to our $GUILD staking and liquidity pool strategies related to BUSD.
As many of you may be aware, Binance has recently announced that they will cease supporting BUSD from February 2024 onwards. This decision has understandably raised concerns about the stability of BUSD and its potential impact on our users’ funds.
In response, we’ve taken proactive measures to ensure the security of the interests and assets of our community and our company during this transition. We understand you may have questions about how these changes will affect you. Here’s what you need to know:
Replacing of $GUILD:BUSD LP in PancakeSwap
The $GUILD:BUSD Liquidity Pool in PancakeSwap funded by BSPC will be replaced by $GUILD:USDT on October 31, 2023.
You may transfer your $GUILD to the $GUILD:USDT Liquidity Pool in PancakeSwap or the$GUILD: USDC Liquidity Pool in Uniswap instead.
Withdraw funds from the $GUILD:BUSD Liquidity Pool in PancakeSwap
- Go to the Liquidity page on PancakeSwap and connect your wallet.
- Under “Your Liquidity”, find the $GUILD:BUSD liquidity pool and click on it.
- Click the “Remove” button.
- Enter the amount of liquidity that you want to remove or click on “MAX” to remove all of your liquidity from the pool.
- Click on “Approve”. Your wallet will ask you to confirm the transaction.
- Once the transaction is confirmed, click on “Remove” again. Your wallet will ask you to confirm the transaction again.
- After the transaction is confirmed, you will receive the $GUILD and BUSD from the liquidity pool back into your wallet.
OPTION 1: Add Liquidity to the $GUILD:USDT Liquidity Pool in PancakeSwap
- Make sure you have both $GUILD and USDT in your wallet.
- Go to the Liquidity page on PancakeSwap and connect your wallet.
- Click on the “Add Liquidity” button.
- Under Token Pair at the top left corner of the interface, select $GUILD and USDT.
- Review and confirm the fee tier and price range.
- In the “Deposit Amount” field, enter the amount of liquidity that you want to add. You can enter the amount in either token.
- Click on “Enable” for each token. If you are adding liquidity for the first time, you will need to click on the “Enable” button for each token. This will give PancakeSwap permission to spend your tokens on your behalf.
- Once you have reviewed all of the information and are ready to add liquidity, click on the “Add” button.
- Your wallet will ask you to confirm the transaction. Once you have confirmed the transaction, your liquidity will be added to the pool.
Read more on withdrawing and adding liquidity on PancakeSwap V3 in their full documentation here.
OPTION 2: Add Liquidity to the $GUILD:USDC Liquidity Pool in Uniswap
- Connect your wallet to Uniswap. You can use MetaMask, WalletConnect, or any other Ethereum-compatible wallet.
- Go to the $GUILD:USDC liquidity pool page on Uniswap.
- Click the Add Liquidity button and enter equal amounts of USDC and $GUILD.
- Click the Approve button to approve the transaction in your wallet.
- Click the Supply button to complete the transaction and add liquidity to the pool.
- You will receive LP tokens in return for your liquidity. These LP tokens represent your pool share and can be used to earn trading fees and participate in staking programs.
Here’s the full guide on how to provide liquidity on Uniswap V3.
OPTION 3: Move $GUILD from BSC to ETH with Chainport.io
You can also opt to migrate your $GUILD tokens from BSC to ETH by using the next-gen bridge of our partner, Chainport.io, for a seamless transfer.
Step 1: Connect your Metamask wallet to ChainPort
- Go to the ChainPort App at https://app.chainport.io
- Click on the Connect Wallet button.
- Select Metamask from the list of wallets and connect it to Chainport.
Step 2: Select the chains and token
- In the From dropdown menu, select BSC.
- In the To dropdown menu, select ETH.
- In the Select a Token tab, you can manually search for $GUILD or input the $GUILD contract address (0x83e9f223e1edb3486f876ee888d76bfba26c475a).
Step 3: Approve and port tokens
- Click on the Approve Tokens button.
- Enter the number of $GUILD tokens that you want to port.
- Click on the Approve button.
- A pop-up will appear in your Metamask wallet, asking you to confirm the transaction.
- Once you have confirmed the transaction, click on the Port Out button.
- You will be asked to confirm the porting.
- Wait for a few minutes for the bridging to come through. You will pay another gas fee for this step.
Step 4: Confirm the porting
- Once the bridge is complete, you should see a confirmation that the porting is complete.
- To check if your $GUILD is already in your ETH wallet, you can add the token to your wallet using this token address: 0x0565805ca3a4105faee51983b0bd8ffb5ce1455c
For more information, read the full documentation here: Bridging Tokens from BSC to ETH with Chainport.io
After migrating, you can then stake your LP tokens on the BlockchainSpace $GUILD Staking Page, designed to reward long-term $GUILD holders.
If you have already staked $GUILD:BUSD on the Binance Smart Chain (BSC) in our staking vault with Vault Inc, rest assured that you can continue to claim your rewards at https://bsc.blockchainspace.vault.inc.
However, the ability to stake is no longer available.
You could instead continue to stake your $GUILD on the Ethereum chain in our staking vault. There are 2 available options:
- $GUILD — Single Asset Pool: You may stake $GUILD here only.
- $GUILD:USDC — Liquidity Provider Pool: You may stake $GUILD:USDC Uniswap LP tokens here.
Read more on $GUILD staking here.
We understand that change can be challenging, but please know that we are fully committed to ensuring a smooth transition for our community members.
Our team is here to provide you with the support you need throughout this process, and we deeply appreciate your continued trust and participation in the BlockchainSpace ecosystem.
Thank you for being an invaluable member of our community.
The BlockchainSpace Team
Q: Why is Binance ceasing support for BUSD?
A: Binance has not publicly disclosed why it decided to discontinue support for BUSD. For more information, you may read their official announcement.
Q: What will happen to my $GUILD:BUSD staking rewards?
A: You will continue to receive staking rewards for existing $GUILD:BUSD stakes. Please note that you can no longer stake additional $GUILD on BSC, but you can do so on the Ethereum chain. Learn more here.
Q: What will happen to BSPC’s $GUILD:BUSD Liquidity Pool tokens in PancakeSwap?
A: The:$GUILD:BUSD Liquidity Pool owned by BSPC in PancakeSwap will be replaced with $GUILD:USDT on October 31, 2023.
Q: Where can I trade $GUILD?
Q: Can you tell me more about $GUILD?
A: $GUILD is the utility token that underpins the entire ecosystem of BlockchainSpace. As we improve and expand on our offerings and product sophistication, $GUILD grows in importance and utility, making it more valuable in real, useful ways. On top of that, holding $GUILD is a vote for a community-driven, transformative future.
Q: I have more questions. What should I do?
A: Please do not hesitate to contact our team for assistance. We are here to help you with any questions or concerns you may have.
BlockchainSpace, a Singapore-based Web3 company backed by leading investors, fuses technology and culture to empower diverse communities across Southeast Asia — from gaming and the creator economy to sports, music, and everything in between.
Offering specialized solutions like YEY, Metasports, Creator Circle, and the Guild Partner Program, BlockchainSpace delivers tailor-fit tech solutions that redefine digital engagement and community growth.
$GUILD is the utility token that underpins the entire ecosystem of BlockchainSpace. Beyond building platforms, BlockchainSpace is shaping the future of community-driven digital landscapes.