Why do I have to use PancakeSwap V1?

This is due to the Bonfire liquidity pool being on V1 and this cannot be changed due to renounced ownership of the contract. It is a cause of PancakeSwap directly and is universally happening with all tokens, not just Bonfire. PancakeSwap is forcing products to migrate from V1 to V2 and automatically sets the version to V2 which is what has mislead individuals to buy on V2.

I don’t see the price conversion of my Bonfire in my trust wallet. Why is this?

This is because of Trust Wallet having issues connecting between databases and it is independent of things on the Bonfire team’s end.

Why is there a price difference between different charts such as Coingecko or Coinmarketcap?

The two websites have different methods and algorithms of obtaining their data and they obtain their data from differing sources. Because they do not use the exact same methods, there will be different times/updates on when data is updated.

What is slippage on PancakeSwap and why does it need to be set to 12%?

Slippage is the allowance for how much the price could jump during the time it takes a given transaction to become fulfilled. Our contract charges 10% per transaction but we recommend setting it to 12% to allow for a 2% slippage (10% tax + 2% slippage). Because the price can change so dramatically in a given moment, by adding a higher slippage amount, it gives more reassurance that the transaction will go through.

Someone is messaging me regarding my Bonfire wallet or saying that I won a competition and will receive a reward?

Do not trust the individual. No one from the Bonfire team will message you first.

What is decentralized finance (defi)?

Defi is effectively finance without an entity to stop or regulate an individual to do something. In centralized finance there is an entity like a government that can step in the way. With decentralized finance there is no entity; it is just the interaction between an individual and software.

Is there a Bonfire V1/V2?

Bonfire token is just Bonfire token; the issue with V1 vs V2 is related to PancakeSwap having a V1 and V2. This confused people to believe Bonfire has a V1 and V2 but Bonfire is just simply Bonfire; it is separate from PancakeSwap.

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