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PancakeSwap: One month since I flipped my first CAKE!

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Avatar for PVMihalache
Written by   285
1 month ago

One month ago I had my first contact with PancakeSwap, after seeing the Binance announcement and reading about the limited offer to stake Binance Coin (BNB) and get CAKE. The collaboration shared $120,000 to everyone who staking Binance Coin (BNB) on the platform as an event that aimed to grow the awareness for the new Binance Smart Chain. Another $20,000 worth of BNB will be distributed in the wallet of all eligible participants within 14 days of the activity period ending. I am curious about the share of BNB I will receive in January, and grateful to PancakeSwap for such a wide range of LP and farming pools. 

After the 30 days of using BNB to farm CAKE, which I than used to farm CAKE, I managed to harvest 45 CAKE, valued at $23.05, which is a nice income for 30 days. Now I need to decide if and where to stake the CAKE! From the liquidity I provided, I earned $1.42. Considering all the moving and changing from LP to Cake farming, this is not bad at all. For January, I will leave the LP's untouched to see the earnings in a full month.

From Binance Launchpool, I earned 7.75 HARD, which I decided to add on PancakeSwap. If you got HARD in November, you can now get some free CAKE. In my opinion HARD and CAKE are creating a sinful pair but so wicked in the same time.

CertiK (CTK) was another weird token I farmed from Launchpool. The 2.33 CTK I had were first added in a CAKE farm than shifted as LP to generate Binance Coin and CertiK (CTK). The 0.000478% share of the pool didn't look too promising but is better than doing nothing on Binance Spot Wallet.

PancakeSwap went Alpha mode, and leaded my pack, when I added the ALPHA Finance tokens. Alpha Finance Lab is an ecosystem of cross-chain DeFi products that will interoperate to bring optimal alpha returns to users, focusing on capturing unaddressed demand in DeFi in an innovative and user friendly way. During the Launchpool farming, I boosted my number of ALPHA by buying some at a low price and the investment already doubled the value.

The ALPHA/BNB paring into the Liquidity Pool was my option, and as the amount was higher, I had 0.04% share of pool. The transfer was easy and straight-forward, in an easy to understand format, and user friendly interface.

As a nice surprise from Binance and Trust Wallet, I received 100 TWT airdrop, which I moved and staked on PancakeSwap. I love Binance Smart-Chain, and the ultra low fees. Took few seconds to approve and confirm the TWT deposit. Once done, the TWT started to earn CAKE at 321%  APY!

NFT's

At one point, the NFT tab appeared on the dashboard. During the claim users could registered their interest for a chance to win an NFT.

PancakeSwap posted a tweet, letting the winners know that only few hours are left for claiming. After the deadline, 100 address were added per day until the last one of the 185 unclaimed NFT found an owner. 

Governance 

Never been so involved in voting proposals as I've been this December on PancakeSwap. The first proposal was to increase the lottery burn to 20% from 10%. This will increase the amount of CAKE burned daily and further reduce the emissions.

This proposal was top, so I agreed with the increase to 20%. This was the clear option, as 99.46% of the votes went in favour of the new allocation.

The second proposal I voted was to adjust the lottery frequency, from 4 per day to only 2 per day, and a injection of 100 CAKE every 2 days instead of the current 50,000 units per day. The aim is to increase participation and speed up the pot growth.

Again, a proposal that makes sense, therefore I vote for it. Again the innovation was the preferred option, as 98.93% of the voters chose the adjustment.

PancakeSwap in 2021

As most of my altcoins and free stuff from Binance Launchpool are on PancakeSwap, I will just keep them locked in LP's as getting small amounts of residual income is still better than keeping them in a wallet. This way both the tokens and the Binance Coin (BNB) will grow, and if at one point the price is right, I will sell them for profit. The amount of Cake is considerable and PancakeSwap is always bringing new partnerships on the platform, as they did recently with the FAN Tokens from Chiliz or with Ditto Finance. Therefore I will not lock them as Liquidity, and I will stake them wherever the APY will be better. 

 

Links and referrals:

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Written by   285
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Comments

I can say that you are really taking your time to learn something. Your patience is really is your virtue. I hope one day I can learn all these staking and trading staffs so that I can do the things you do. Keep going friend!

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1 month ago

Great

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1 month ago

I love pancakes. Actually your posts are really interesting and a nice lecture altogether.

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1 month ago