How to use your Rapids (RPD) on PancakeSwap & BSC
As of May 31st of this year, a Bridge has been set up between Rapids and Binance Smart Chain, allowing you to convert your Rapids (RPD) to Wrapped RPD (BRPD), at a ratio of 1:1, for use on all BSC dApps.
Want to know more about how to convert your RPD to BRPD? We suggest you consult this article.
But then, what can you do with these BRPD?
Let’s take the example of a BSC dApp in the top 5 of Binance Smart Chain: PancakeSwap.
To put it simply and concisely, PancakeSwap on Binance Smart Chain, is similar to UniSwap on Ethereum Blockchain. It is a DEX (Decentralized EXchange), allowing you to make exchanges not between individuals, but directly with a Pool, which is much more interesting, because there is no buy list, and especially because using a DEX you avoid having to fill out KYC Forms, and wait several hours to several days to receive a favorable opinion (or not!)
For this you need BRPD, but also BUSD. (To get BUSD you must first have Binance Coin (BNB), which you then convert to Binance USD (BUSD))
And now you’re going to tell me “I need BNB, so I have to go to Binance, and buy BNB? So I have to fill out a KYC!?”. Well, let me reassure you, you can convert your Wrapped Rapids (BRPD) into Binance USD (BUSD).
When you make a Swap on PancakeSwap, to exchange your BRPD into BUSD, you pay a fee in BRPD, which allows you to use the platform hassle-free. After making this exchange, you can then deposit your funds in the Pool: BRPD/BUSD LP.
The little extra is that as soon as you have funds in the Liquidity Pools, you earn a little ‘passive income’, because, as indicated on PancakeSwap, as soon as you make a Swap, you pay 0.25% of fees. Of which 0.17% are paid to the ‘LP Token Holders’, in other words, to all the holders of BRPD/BUSD LP.
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