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ICYMI III: MasterChef V2 deployed on PancakeSwap

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Written by   179
2 months ago

In line with the Q2 roadmap for PancakeSwap, the Chefs deployed MasterChef V2 on Wednesday, 20th March at about 9 am UTC. Although there were some initial hitches with the deployment such as inaccurate APR values for some farms and well as issues with voting power after the initial deployment, these issues have since been addressed and subsequently resolved. As usual the PancakeSwap PR team were consistent in notifying the community once any issues or bugs were detected and also promptly released updates as soon as the issues were resolved.

As expected with the deployment of MasterChef V2, several syrup pools were retired. The Cake syrup pool for example previously had three pools namely:

1. IFO cake pool

2. AutoCake pool

3. Manual Cake pool

With the update there is presently only a single auto compounding Cake pool which has only flexible staking enabled for the time being. However locked staking is expected any moment from now as seen in an update in PancakeSwap announcements channel. The update states that its deployment is scheduled for Monday, 25th April.

The fixed staking pool is expected to give give stakers more benefits than the flexible staking pool one of which is higher APR.

The first new pool to successfully be deployed after a favourable pool is the ANKR pool which has an APR of 172 % as at the time of writing this piece.

Other pools which survived the upgrade or update are :

1. CEEK

2. GMI

3. HIGH

4. GMT

5. TINC

6. PEX

7. FROYO

8. BSW

9. XWG

10. DUET

A big kudos to the pancakeswap Devs for making the upgrade a smooth one. I personally did not encounter any serious challenge migrating from the old IFO syrup pool to the new flexible staking pool. The migration process was made easy by the presence of what I would like to term a migration wizard.

It had prompts to guide stakers through the process of unstaking LP or Cake from the old farms or syrup pools respectively and migrating to the new farms or pools.

The next major update community members are eagerly waiting for is NFT gamification which is in the works and expectedly going to be released soon.

Cake has also seen some positive price action in the last few days. If cake manages to break through the current resistance btw 9.6 and 9.7 USDT, we may see a rally for 14 to 15 USDT if general market conditions remain favourable and the bulls continue to prevail.

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Written by   179
2 months ago
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