Important Announcement: Changes to BUSD Support for $GUILD:BUSD Staking and Liquidity Pool
October 25, 2023
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 $GUILD: USDC Liquidity Pool in Uniswap instead. Here’s how:
Withdraw funds from the $GUILD:BUSD Liquidity Pool in PancakeSwap
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.
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 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.
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.
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 at email@example.com 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.