Avarice is a cryptocurrency platform that doesn’t use a DEX. The same devs behind the old T2X platform that was run on the Tron network about a year ago are back at it again.
The new project as stated is called Avarice.
So what makes this the new GEM on the BSC ?
What makes this the best staking platform in all of DEFI ?
Well for starters, lets start with a basic explanation for what happens. You put in BNB, you collect the BNB, you stake the BNB and then you wait for the DIVS to roll in.
If you’re new to crypto, BNB is basically the currency that you use on the BSC to purchase other cryptos.
DIVS in Avarice are your BNB reflections.
Let’s take this a bit further. There was a community member in their TG that made a nice flowchart for how it works for those of you like a visual. I won’t post the visual here since I don’t have permission to do so but you can view it in the chat. I’ll post the link at the end of the article.
This project is different from many other projects found in crypto starting with the reality that it has no DEX. So you can’t use a swap of any kind to acquire the token. The only way to acquire the token is to get it through their daily auction in their lobby.
Each day the lobby has a set number of tokens available for members to get through their BNB contributions. In the lobby, you also get information that tells you how many tokens you receive per BNB. Upon the purchase of AVC (Avarice tokens) as more people contribute, the tokens you’ve purchased will decrease until the day closes.
You can see in the image above the AVC per 1 BNB changes each day. That is because there are less AVC tokens available per day and total deposits will also affect that average as well. Less number of people making deposits, the more AVC you get. The more people making deposits of BNB, the less AVC you get. I made 8 deposits and initially those deposits were worth nearly 20,000 AVC tokens and by the end of the day they were worth less (under 15,000 AVC tokens).
Why is that important ?
Well I’ll tell you all about that once we get to the staking part of this.
On another note, you should also pay attention to the timer in the upper right hand corner that shows you how much time is left in that days auction window if you’re someone that may want to participate in Avarice.
In the image above, there are 6 different tabs that a user can utilize:
Staking
Lobby
Lending
Buy/Sell
FAQ
Tokens Transfer
The most common ones to use at this time since the platform at the time of writing this article is still in it’s infancy are going to be the staking, lobby and buy/sell tabs.
Lending at the time of writing this article is still not open.
You will start at the lobby.
Follow the steps. Click enter, then enter your amount of BNB and then click enter auction. You’re done.
You can collect at the end of the days auction.
You can stake after the next day closes.
The reason why you want to stake is because that’s the only way to make use of the tokens and to receive BNB dividends.
For example, on day 1 several people made their BNB contributions.
On day 2, they could stake.
On day 3, they started to see BNB dividends start to show up.
Now here in the next image you can see the staking page.
As indicated in #1 seen above, you decide from the tokens you’ve acquired whether to stake all of them or decide “how many” you want to stake and for how long. Many youtubers have discussed several staking strategies. Everyone, regardless of the various methods out there has to determine their own staking strategy on the Avarice platform.
In this example, I started with a staking strategy to simply stake all of them for 30 days. Some prefer a stake everydayAs stated before, staking started on day 3. (Contributed day 1, staked day 2 and started seeing divs on day 3).
You can also watch the progress on this page and also take note that you can “sell” your stake as well.
In this section you can find some deals.
Pay attention to how many stakes are for sale.
You can also sort them by the following:
Newest stakes, amount of staked tokens, selling price and the remaining days on their stake too.
Some of these are incredibly overpriced and others are priced more reasonably but it gives you a way to pick up additional AVC tokens and divs here as opposed to buying them at the public auction.
Avarice is currently averaging well over 1000 BNB per day in contributions and people are just waking up to this platform and it’s very generous BNB dividends.
The telegram channel is very active and the devs appear to be working hard and have been transparent. There are good signals for me personally as I engage and review this project but it’s still very early but if the start is any indication of the future, this platform is off to a promising start.
Note: here is the flowchart in the channel: (Note: you will need Telegram for this to work). https://t.me/c/1173577188/30593
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