Pancake Swap 2022 Review - Flippin' and kickin'

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Written by

#Club1BCH

1 year ago

In community: Just Write(e5e5)

Topics: Pancake Swap, CAKE, Binance, Defi, Cryptocurrency, ...

I am a Pancake users since early days, and enjoyed the boom that the $CAKE token had. I farmed at $0.20 and sold at $20, I kept some and farmed again, and still farming at the moment.

Why? Because PancakeSwap still has some of the best tools on Binance Smart Chain. Will $CAKE go back to former glory? Not sure... but yield farming still brings good shares of residual income.

Why Pancake Swap? Because I can swap instantly crypto in a still fairly decentralized exchange. The fees are still low even at high trading volumes and I can still have ownership of my crypto by using it. Pancake Swap has over 3,000,000 users and over 5 billion TVL.

2022 was bad but farming never stopped. Yield farming went on on Pancake Swap and my goal was to earn and accumulate. No crypto should be kept idle, no asset should be sitting lazy in the wallet.

I farmed OLE as soon as the new pool was added, with APR at 180%. I farmed 105 OLE in a week, and cashed out when the APR dropped at 15.64%. The crypto was sent to Kucoin, where I had another batch of $OLE from OpenLeverage.

I then tapped into the ANKR pool, the one that had the biggest APR from the active yield farming opportunities. I farmed for another week and sold $ANKR for BNB.

Meanwhile, I celebrated the Pancake Swap second birthday party. I won 100 points and marked an achievement for being part of the journey. I still remember the first steps on DeFi and Binance Smart-Chain, and how it turned into a roller-coaster of defeats and victories.

I shifted my farming $CAKE again, and farmed $WOM and $SHELL for about one month. I sold $WOM multiple times at a good value and HODL the SHELL.

I moved the farming to SFUND when the WOM pool concluded, and farmed more SHELL. I am holding 19,333 Meta Apes Shell and praying for a 0.1 USD in the future. ATM the whole bag is valued at $11 USD but you never know when this P2E games will pump.

WOM was a good token, and the farming rate was good for weeks. I farmed over $20 in a month and topped up my BNB balance. The perpetual farming can burn a lot of BNB on gas fees, and is never enough.

Another move, another earning opportunity. My secret is to tap into the new pools as soon as possible and take advantage of the high APR. This will drop as the TVL will grow, so early farming makes a difference. I withdrew CO, swapped for BNB and staked CAKE into the new KRS pool. The APR at the moment was 76.54%, providing a good farming rate.

Earned over 5 USD worth of KRS in a week, and tapped into a XCAD farm for extra rewards. The APR on both went low, but all other farms had low returns as well, so it was more efficient to wait and farm here.