$Karate Balance Goes $Up @bonzo_finance

Did you know that “staking” is available for those using the Karate Combat app?
Let’s take a quick look at how it works, but first I must say… There are some risks. In the past many have been victim of lending/ borrowing projects getting hacked or rugged. In this case, before I took the risk, I reached out to the Karate Combat team on Instagram and Twitter to make sure they trusted Bonzo creator @brady. They do. BUT. It is still a risk… DYOR
Taking advantage of the offering at Bonzo Finance is easy. There are lots of ways to connect your wallet to Bonzo, but we will cover the easiest I have found.
Using your phone. Android or Apple.
First: Click here to Download Hashpack
If this is your first time setting up Hashpack and connecting to your Karate Combat wallet don’t worry. It’s easy. Open Hashpack…
Second: Click “I already have a wallet”
After first downloading Hashpack you may need to create a password for opening the app.
Third: Go to the Karate Combat and get your 12 word passphrase.
Open the Karate Combat app. Click on your profile picture/ go to the settings page. Click where it says: “Secret Recovery Phrase”
If you do not have this backed up somewhere, now is a very good time. Write it down if needed.
Fourth: Open Hashpack and add your wallet passphrase.
Now you will see wallet balances under the tab, “ASSETS.”
Fifth: Click on the tab “DAPPS”
Where it says “Load custom dapp URL” you can type app.bonzo.finance and click “Load”
OR
You can scroll down under the heading “Lending & Borrowing” and click the button labeled, “Bonzo Finance.”
Sixth: Connect your wallet to Bonzo Finance
Approve the connection.
Seventh: Supply your liquidity and chill 🤓
After the Bonzo Finance Dapp connects scroll down the list of All Assets and find Karate. Click on the drop down menu. Click the “Supply” button. I click max… You choose how much to supply. Click the button “Supply KARATE.” Make the approvals.
Now you can wait… Your $karate coins will immediately begin earning rewards. You can check your reward amounts at any time by opening the Bonzo App, scroll down to where you see a button “Claim Rewards” and click it.
I typically compound my coins every few days. It doesn’t make financial sense to use hbar to process transactions any more often than that. It will vary depending on how many coins you have. For most, the best option will be to compound their rewards during Karate Combat events.
Changes are coming that may not require removing supply for events, but as of Nov 5, 2024 you will need to “Withdraw” coins to stake them on fighters during events.
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