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:
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:
Read more on withdrawing and adding liquidity on PancakeSwap V3 in their full documentation here.
Here’s the full guide on how to provide liquidity on Uniswap V3.
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
Step 2: Select the chains and token
Step 3: Approve and port tokens
Step 4: Confirm the porting
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 continue to stake your $GUILD on the Ethereum chain in our staking vault. There are 2 available options:
You can 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.
Sincerely,
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?
A: $GUILD tokens are still readily available on trusted exchanges like MEXC, Uniswap and Pancakeswap.
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 at marketing@blockchainspace.asia for assistance. We are here to help you with any questions or concerns you may have.
About BlockchainSpace
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.
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