Buy Ethereum (Coinbase)
Bit Bullies live on the Ethereum blockchain, which means you will need ETH to mint (purchase) BitBullies. To buy ETH using fiat, you'll need to head to a cryptocurrency exchange, such as Coinbase. Create an account on Coinbase, complete your verification, add payment method and buy ETH.
Note that it may sometimes take several days to setup to deposit fiat depending on the exchange, so that you can use it to buy ETH. If you need to buy ETH with fiat prior to the mint, you would want to start this step a few days in advance.
You can buy Ethereum on almost all cryptocurrency exchanges. Coinbase is a popular option for US customers; and Binance is a popular option for non-US customers.
Get a cryptocurrency wallet (MetaMask)
There are lots of crypto wallets out there. By far, the most popular is MetaMask. Once you download MetaMask, follow the instructions to create a new cryptocurrency wallet. For the security of your funds, pay close attention to the setup instructions of MetaMask, particularly the handling of your seed phrase. Please take care to backup your seed phrase in a secure place. Anyone that has access to your seed phrase can get full control of the assets of your MetaMask wallet.
Click here to download MetaMask for iOS.
Click here to download MetaMask for Android.
Click here to download MetaMask for Desktop.
For a video guide on how to setup Metamask, you can watch https://www.youtube.com/watch?v=WAStJtjYI_c
Once complete, send your Ethereum over from your Coinbase (or other cryptocurrency exchange) account to the MetaMask wallet. To send, go to Coinbase and initiate withdraw of your ETH to the your MetaMask wallet address. You can find your MetaMask address under the account name (in the format 0x12r45...6HJ9). Withdrawing ETH from an exchange typically takes several minutes to an hour (can be done 24/7 though outside of normal banking hours). On Coinbase, there is an option to "Whitelist" withdrawal addresses. If you select this option on account creation, note that you can only withdraw to your MetaMask address 48hours after you Whitelist the address.
How to mint a Bit Bully
Head on over to the MINT page here on the website. It will prompt you to connect your MetaMask wallet. Choose how many Bit Bullies you want to mint, and press MINT!
If you are minting as a BitBullies Whitelister, you will need to provide your MetaMask address (from step2) to the BitBullies team ahead of the WL mint.
Part A - Preparing for Mint
Part B - After mint
How to claim membership rewards
Membership rewards will be claimable on the LUNCH website. More to come here shortly.
How to stake Uniswap V2 LP Pool
It will be possible to add liquidity into the Uniswap V2 LUNCH / WETH Pool. This pool doesn't exist yet! Any existing Pool that may out there is a scam! Please check against the official information on the LUNCH website for the pool address.
Upon depositing liquidity in the Uniswap V2 LUNCH/WETH Pool, you will receive a LP token that acts as a receipt of sorts for your deposit of liquidity. You will then be able to stake this LP token to earn additional awards in LUNCH when the emission schedule for Uniswap LP Rewards starts. Note: there may be more than one Uniswap LP Pool pertaining to LUNCH tokens in the future; only the Uniswap V2 LUNCH/ETH pool LP will be eligible for additional LUNCH rewards.
More to come here shortly.
Risks of Staking in Uniswap V2 LP Pool
This is not financial advice. Please do your own research to understand the risks before proceeding.
Uniswap V2 is an example of a Automated Market Maker (AMM) . Each Pool consistents of two assets that participants can either provide liquidity into (act as a "LP") or trade one asset for another. The price between the two assets is determined completel by how much of each asset is in the pool. For instance, if a pool has 10,000 of token A and 30,000 of token B, then Token A has 3x the price of Token B. As participants trade with the pool, the price adjusts because the ratio of the two assets in the pool changes.
Providing liquidity in a Uniswap V2 Pool comes with the benefit of earning your prorata share of 0.30% of all trading fees in the Pool. For instance, if the pool had 100k USD worth of liquidity, and you have provided 10k USD of that liquidity, you would earn 10% of the trading fees in the pool. Extending the example, every time someone trades 10k USD worth of tokens in the pool, they would pay 30 USD in fees, and you would gain 3 USD in fees.
The LUNCH rewards for staking the LP token of the Uniswap V2 LUNCH/ETH pool is an ADDITIONAL reward provded by the LUNCH foundation, on top of the trading fee rweards asbove.
However, one key risk of providing liquidity in an AMM such as Uniswap V2 is Impermanent Loss. This occurs when the price ratio between two assets starts to move away from the price when you started providing liquidity and does not return.
A more comprehensive review of AMMs and their risks can be understood by watching
Additional education resources: