🏃♂️Example Walkthrough
Last updated
Last updated
This walkthrough will be using MetaMask to set up a wallet, Coinbase to fund that wallet with ETH, exchange that ETH for Badger, connect the wallet with the Badger web3 app, deposit Badger in a Sett, and finally stake Bagder.
In your browser, open up https://metamask.io/ and click on Download.
Select your browser version and click Install. This will install the MetaMask extension for your browser that enables you to interact with the blockchain and Web3 apps via your wallet. Once installed, create a new wallet, making sure to save and secure your 12 word seed phrase.
On your MetaMask wallet dashboard click on "Buy ETH" and then under "Directly Deposit Ether" click on View Account. This will bring up your wallet address. Copy this address and paste it into your Coinbase app.
You will want to send enough ETH to cover the cost of the token you will swap into and the gas fee for this transaction.
In your MetaMask wallet click on the "Swap" icon. Select the amount of ETH you wish to exchange then choose from the drop down menu and search for the Badger token. Click on "Get Quote" and MetaMask will search multiple DEX's for the best possible rate.
Navigate to https://app.badger.finance/ and connect your MetaMask wallet to Badger. You will be asked to authorize this in a MetaMask popup.
Once your MetaMask wallet is connected with the Badger app you will be able to stake your Badger tokens in a Sett vault. Each Sett vault is for specific tokens and most require multiple tokens such as Wrapped BTC/Badger. This is for being a LP or liquidity provider and at the time of deposit you will need an equal value of the tokens split 50/50. For the Badger Sett it only requires Badger and is a good place to start if you are new to staking tokens. If you hover over the APY you will get a break down of rewards for staking in each vault.
Keep in mind, at the time of writing the Badger protocol requires multiple steps to accomplish staking of your Badger tokens successfully. It can be confusing at first and easy to miss a step or think you have finished when you are not actually done. At first it should go in order and look like this:
Authorize Badger app to connect with MetaMask.
Authorize deposit of Badger into Badger app.
Deposit Badger into Badger app. -> Receive bBadger (not 1/1)
Authorize Staking bBadger in Badger app.
Staking bBadger in Badger app.
If in the future you buy more Badger or claim Badger rewards, the steps will be reduced as you will no longer need to authorize Badger app to connect with MetaMask, deposit, or stake tokens. You will simply need to claim, deposit, then stake.
Congratulations! You are now involved in your first DeFi project. The only thing to do now is periodically check your dashboard to see your portfolio and your staking rewards increase.
If you want to know more, read about Badger under Projects.
