Including BUSD/SGT LP on Pancakeswap for Minting SGT

Squid God Finance is excited to include an additional LP asset — BUSD/SGT on Pancakeswap for minting SGT, from around UTC 9:30 10th November 2021.

By including BUSD/SGT LP on Pancakeswap, SGT tokens will be backed by two types of LP assets, USDT/SGT on Babyswap and BUSD/SGT on Pancakeswap.

How does it work?

Minting (or Bonding) is swapping a certain type of crypto assets to the protocol for SGT, at a discount price. The protocol quotes an amount of SGT and a vesting period for the trade. The minted SGT is released in 5 days.

When you trigger the minting function, you are selling your cryptoassets. The protocol creates more SGT to you than you’d get on the market, which means you are buying SGT at a discount.

By adding BUSD/SGT LP on Pancakeswap, users are able to mint SGT with BUSD/SGT LP token, giving more flexibility to minters. Also, the protocol will be integrating to the largest Dex on BSC and benefited from larger varieties of assets in treasury.

A guide of minting SGT with BUSD/SGT LP?

The Mint page allows users to mint SGT from the protocol at a discount by trading it with cryptoassets, including the LP assets.

1. Go to Mint page and select BUSD/SGT LP on Pancakeswap to mint SGT.
2. Select the amount that you would like to mint. Make sure you are not trying to mint more than is allowed. The Max You Can Buy field below shows the maximum amount of SGT you can purchase.
3. The Settings menu will show up. At the Recipient Address field, you can specify a different address that will receive the vested SGT. By default, it is filled with your current address.​
4. You can also modify the Slippage field to increase or decrease the likelihood of your order getting through. A higher slippage increases that likelihood, but you may get a more undesirable fill price.
5. Close the Settings menu by clicking the cross icon.
6. Click “Approve” and sign the transaction.
7. After the “Approve” transaction has been processed successfully, click “Mint” and sign the transaction.

Buying or Minting

Have trouble deciding whether to buy or mint SGT? Please check the in-depth explainer here and here.

Something else to mind about

Initially, the liquidity pool on Pancakeswap will be small. Please mind about the slippage when buying on Pancakeswap directly. It is recommended to get SGT on Babyswap and add liquidity on Pancakeswap in the BUSD/SGT pair.

Thank you for your continuous support.