Beeswap is a swapping tool for Hive and Hive-Engine, it charges a small fee of 0.25% (half of that from Hive-Engine market) to swap HIVE and SWAP.HIVE and half of the fees collected from swapping go to payout investors who have staked BXT token.
As a suggestion from @zuun.net I decided to write a tutorial (instead of recording) so people in the future can refer to it to invest in BXT.
Before the first step
Before you start, you need an extension to allow you to manage your Hive account on your browser. I use Hive Keychain, it works similarly to Metamask and has a straightforward and easy experience. You can install and read more about it at:
https://hive-keychain.com/
Follow @keychain on Hive to learn more about it.
After that, you will need to login. You can find the login button on the top right corner:
If you have Hive Keychain and have logged in using the extension, you are going to need to add a new account:
Swap your HIVE to SWAP.HIVE
You can exchange almost any liquid Hive-Engine token to BXT. If you have HIVE, then the first step is to get the HIVE token into the Hive-Engine, to do that you can use Beeswap's own swapping service:
https://beeswap.dcity.io/convert
Put the amount of liquid HIVE you want to exchange, I usually click on "Max" and just invest everything right away:
MAke sure you are swapping HIVE to SWAP.HIVE, check the amount, and click "convert". You will be prompted by Hive Keychain to confirm the transaction (if you have Keychain installed properly):
After it is confirmed, within a few seconds the conversion will be completed.
Swap your SWAP.HIVE into BXT
This step is very similar to the previous one! Select the first token to be SWAP.HIVE and the second to be BXT, select the amount you want to swap, or click "Max" to exchange everything, and click in "Swap". Then confirm the transaction on Hive Keychain.
Stake it to get the rewards
You need to stake your BXT to get the daily rewards. The current yield is above 30% a year, but it depends on the exchanged volume, so it is worth it to promote the service like I am doing right now 😉
To stake it go to:
https://beeswap.dcity.io/bxt
Click on the closed lock, that says "Stake BXT". You will be prompted to choose the account and amount you want to stake. Since I am here for the payouts I just staked everything:
Confirm it again on the Keychain.
How much do I make
I have 44.918 BXT staked, with the curernt 35% yield I get around 0.314 HIVE/day. I have lost a lot due to the price decrease of the token, it went down hard and fast and I don't know why, so if I had to sell it today, despite having held the stake for months and account the yield, I would still be in a big loss.
Luckily I don't plan on selling any or unstaking it. I am staying for the daily rewards. Hopefully if I happen to need to sell it the price will be up. It is a good, cheap and efficient service, so it might have a bright future as Hive grows and expands.