Sizzling Summer On Pancake Swap - CAKE Goes Down ... Farming Goes Up!

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Written by

#Club1BCH

1 year ago

Topics: Pancake Swap, Bsc, Binance, Bsw, CAKE, ...

It feels like a sizzling summer on Pancake Swap! Even if $CAKE went down ... the farming opportunities are still attractive. Meanwhile ... 1 CAKE = 1 CAKE

The drop in value was a combo of perpetual market and the journey towards "ultrasound CAKE", with now burns mechanisms and tokenomics. The ultrasound token will be achieved trough low annual inflation rate of 3-5%, transitioning to a CAKE staking model based on real yield and benefits favoring long term stakers.

The staking allocation will be reduced from 6.65 CAKE/block to max 1 token minted each block. The revenue of long term stakers will be boosted, as well token emissions weighting. This is the journey to .... ULTRASOUND CAKE!

I often play with the pools, swapping for the highest APR and biggest rewards. Sometimes is a waste of money, as the fees paid are going to burn most of the farmed reward.

However, there are still good opportunities... and it's even better when the crypto I am farming pumps overnight. In most of the cases... I have no idea what I am farming!

Done no research about $ZBC and have no idea what's the use case, as I sold it when the farming ended. Swapped 677 ZBC tokens for 2.7 CAKE, and continued to farm $CHAMP tokens!

Took the CAKE used to farm ZBC and farmed SIS for less than a month. The pool had over 100% APR when I joined, and dived in even if I don't like SIS! Tried to use their "any coin, any chain" swap and failed on multiple chains! However, farmed 1.6 worth of SIS and sold it for CAKE!

I had to change my tactics due to the constant "stake, exit, stake in another" pool routine, and choose to use the pools that will last longer. The APR was similar for all the new added pools, so duration of farming was the criteria.

I went for bigger blocks and farmed $ID and $ SD for a while, with a juicy 39.82% and 22.74% APR. It's not bad when you stake and forget about it!

It's not much but it's honest work! That's what true DeFi degen farmers will say! Farmed $11 worth of crypto in the upcoming weeks, and farmed for some more weeks at a decent APR. The SD pool was depleted first, and had to search for new options ... again!

The final value of $SD was close to 15 dollars, and had to play some swap games when exchanging. I tried to sell all for $CAKE and the price impact was above 40% of it's value. I managed to get a better deal, approximately 13% price impact, by selling in to batches.

Once the $SD was sold... I had fresh BNB for fees! Now was time to play with the pools, and look for other farming alternatives.

Meanwhile, my locked $CAKE completed it's last day from the 52 years stake! The current value is so low that I am sure will not recover by 2024, and went all-in again.

Locked my big bag of sweet CAKE for another 52 weeks, and get stress-free auto-compounding rewards for a whole year. The expected return of investments can be as high as 421 dollars, about 35 per months. Let me say it again.... it's not much but is honest work!

Who remembers the Oli game? This game is unique, as the tennis player Oleksandra Oliynykova plays in tournaments and shares her prizes with the token holders. Just hold $OLI tokens and receive a share of BUSD after each tennis event she takes part!

Been part of the game since day one, and the BNB I had from swapping $SD had to be used with Giga Chad brain! I bought 479 $OLI and made myself eligible for a bigger slice of prize money!

Diversification is the key, and had to dive into more pool because of the 100 $CAKE limit per user. Farmed $EDU, $ID and $LVL for a while, and played some DeFi game with $HAY.

I found an interesting pool on Biswap, where $BSW could be staked to earn $HAY ... then used the $HEY to farm $CAKE! DeFi can't get better than this!

Let's say hey to hay! As a humble farmer... I like hay! You can farm it while you ride your tractor, and you can use it to feed the animals at the farm. However, $HAY is different... $HAY is the Helio Protocol destablecoin!

The terms “stablecoin” or “algorithmic stablecoin” can be confusing, as all stablecoins, including those backed by fiat, have the potential to fall in price and become volatile! Here comes the “destablecoin” from Helio Protocol, a “decentralized” healthier and more sustainable option!

As envisioned by Helio, a destablecoin will use a model backed by crypto assets like $DAI but will be fully decentralized. While DAI leverages centralized crypto assets like $USDC, the Helio’s destablecoin will use decentralized assets like $BNB as collateral. In addition, the destablecoin will leverage liquidity staking assets and aim to achieve stability without absolute fixation on fiat currencies.

I removed all the BSW from the auto-pool, and went all in into the $HAY farm. I swapped a 22% APY, with auto-compounding, for a 31.56 APR on desteblacoin farming! Why? Because I want $HAY in my portfolio, and I already reached my 23,000 BSW target for 2023!

I stopped farming $HEY when the pool on Pancake Swap ended, but the double farming was a good experiment. Was decision time again ... and went for higher percentage of APR, plus longer farming period.

The $LVL pool will be up for another 40 days, while the new $TUSD and $CSIX were planned for two months. I started farming stablecoins at 55.77% APR, and $CSIX at 61% APR. Time to have as summer break and enjoy some cake ... the real life cake!