An Introduction to Wrapped Banano

Today we'll be looking at wrapped 
banano. What is wrapped banano,   you ask? Wrapped banano is a token on the binance 
smart chain backed one for one by actual banano.   We'll go through the process of wrapping some 
banano, applying wrapped banano to liquidity pools   and staking LP tokens to earn rewards. If this 
all sounds overwhelming you'll probably want to   check out some resources that I've linked in the 
description below. Let's begin. I have my Kalium   wallet app with 200 bananos and I'd like to wrap 
them into wBAN tokens or Wrapped Banano tokens on   the Binance Smart Chain. First I visit the wrapped 
banano dApp and connect my metamask wallet.   Notice I already have some BNB, Binance Smart 
Chain's equivalent of Ethereum and some BUSD,   we'll get to that later.

The BNB will be consumed 
as gas when I'm transacting on the Binance Smart   Chain just like Ethereum. Now, we're assuming that 
you're able to acquire your own BUSD and BNB on   the Binance Smart Chain but if you need guidance 
I've placed links in the description below.   Since this is our first time connecting 
metamask to the wBAN dApp we'll have to   quickly set up an association between our 
Binance Smart Chain wallet and our Banano   wallet (in my case Kalium) so that we can deposit 
Bananos and received Wrapped Bananos in exchange.   We'll start by pasting in my Kalium wallet's 
address but you can use any Banano wallet   address as long as you can send and receive 
funds from it. Next we'll sign a transaction   on the Binance Smart Chain with metamask 
that says this Banano wallet is mine. Finally we'll be required to confirm 
that we own this wallet by sending   a minimum deposit to the address shown on screen.   Feel free to send one banano.

In Kalium, I 
can scan the QRCode and send my one Banano!   And don't worry, this Banano will show up in 
your balance once you've set up your account. Once you've sent your Banano click check deposit. To deposit more Banano for conversion into Wrapped 
Banano click the deposit BAN button at the top.   You're presented with a deposit 
address and a QR code. Here,   I'll send the remaining Banano in 
my Kalium wallet so we can wrap it. As you can see the site has updated 
to show my new balance of 200 Bananos.   Withdrawing your banana is even easier: 
Click the withdraw BAN button at the top,   specify the amount and click withdraw. Sign the 
transaction in metamask and your Banano will be   queued up for withdrawal. Your withdrawal 
will most likely be paid out immediately   unless the hot wallet requires a top up. Either 
way you'll receive a notification upon success.   Let's go ahead and wrap our Banano into wBAN 
tokens. Click on 'Max' to wrap all the available   Banano. You'll see i should receive 200 Wrapped 
Banano tokens in exchange. Since I want to make   sure that I can see the Wrapped Banano tokens 
in my MetaMask wallet I'm also going to click   'Add wBAN to MetaMask' and add the token here.

We 
click swap, we sign our transaction in metamask,   and once the transaction completes, our balance 
updates to show we've wrapped our Banano. And there it is. If something happens during the 
wrapping or unwrapping process   and you don't receive the expected funds 
make sure to check the history button here.   Ff your transaction is listed with a claim button 
next to it you can recoup your missing funds   immediately. You can also view your entire deposit 
withdrawal and wrapping history at a glance.   Arguably the best part of Wrapped Banano 
is gaining access to decentralized finance   instruments like liquidity pools, farms, and token 
swaps.

Wrapped Banano can be farmed, supplied   to third-party liquidity pools, and swapped 
for other tokens on the Binance Smart Chain.   If i click on 'Stake & Farm' at the top we can 
see at a glance the available Wrapped Banano farms   and liquidity pools. The wBAN farm, owned and 
operated by the Banano team, functions a little   differently when compared to liquidity pools so 
let's take a closer look. Whenever we want to   interact with a farm we'll need to approve that 
the smart contract behind the scenes is allowed   to move our tokens on our behalf. Think carefully 
when performing this step as an unscrupulous smart   contract developer could include malicious 
code to steal the token you're approving.   I'll include links below for the many ways you can 
verify the contracts you're interacting with on   Ethereum or the Binance Smart Chain.

Now, let's 
approve our interaction with the Wrapped Banano   farm since i've already done my due diligence 
and I've confirmed this farm is legitimate.   Don't take my word for it though. As we 
love to say in crypto: Do Your Own Research.   Adding liquidity to a farm is as 
simple as clicking the supply button.   We specify an amount of Wrapped Banano to 
add and approve the transaction in metamask.   Once the transaction completes we'll see the farm 
details update to reflect our added liquidity.   Removing liquidity is just 
as easy. Click withdraw,   specify the amount you'd like to withdraw 
from the farm, approve the transaction in   metamask and your balance will update 
as soon as the transaction clears.   Farming Wrapped Banano from liquidity pools 
requires a few extra steps as the pools are owned   by the decentralized exchange operators. When we 
click the add liquidity button under the wBAN-BUSD   we are taken to the exchange's website where 
we can supply our Wrapped Banano and BUSD,   in exchange we'll receive LP tokens that represent 
our share of wBAN and BUSD in the pool.

It's these   LP tokens that we'll be staking to earn more 
Wrapped Banano. Let's go through this together. If you've never been on this exchange before 
you'll need to unlock your wallet before   interacting with any of the liquidity pools. I 
click 'Unlock Wallet', choose my metamask wallet,   click next, connect it and we're good to go! In order to supply Wrapped Banano and BUSD 
to this pool I'll need to approve each token,   giving the smart contract the ability to 
move these tokens on my wallet's behalf.   Make sure you trust the liquidity 
pool before you approve. Now that I've approved the tokens I'll supply 
200 Wrapped Banano which is roughly 5 BUSD,   in exchange I'll receive 
some LP tokens to my wallet   and it's these LP tokens that we'll stake 
in order to earn more Wrapped Banano. The last step is to return to the Wrapped Banano   site and stake our LP tokens. 
First approve the smart contract. Once approved, supply the LP tokens. Voila you're ready to earn more Wrapped Banano! Swapping your Wrapped Banano for 
other tokens on the Binance Smart   Chain is a potassium-filled way to 
get involved in other crypto projects! Click the 'Swaps' button at the top 
to visit the decentralized exchange.   Acknowledge the warning, specify the amount 
of Wrapped Banano you'd like to swap.   Click swap, confirm your swap, and then 
confirm your transaction in metamask.

Say we want to entirely withdraw our liquidity.   We've earned our rewards and we're ready to get 
out with our winnings. We'll need to first unstake   our LP tokens from this site. Click withdraw, 
choose the amount and click withdraw again.   Once the transaction clears the LP tokens will 
be back in our wallet and now we can return them   to the liquidity pool on the exchange in order 
to reclaim our share of Wrapped Banano and BUSD   in the pool. On the exchange site 
we can conveniently see the Wrapped   Banano/BUSD liquidity pool and how much 
share of the pool we are supplying.   In order to withdraw we click remove, 
we choose how much liquidity to withdraw   (in this case all of it), approve 
interaction with the smart contract   and finally remove the tokens from the pool.

With the Wrapped Banano back in my wallet 
I can unwrap it back to Banano and withdraw   directly to the Kalium app on my phone. 
Confirm the transaction in metamask,   and withdraw my banana.   That's it!.

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