Are U Hungry? Eat Pancake and Stack'em for a 250% APY

By FredLopez | CryptoProjects | 8 Dec 2020

It's known for being the #1 AMM and yield farm on Binance Smart Chain with it own crypto named CAKE, yes it's PancakeSwap. You can buy CAKE on BINANCE , Bithumb or in HOTBIT (with an 5% APY ). This is a decentralized platform where you can add liquidity and earn cake by staking your LP (Liquidity Provider ) tokens, stake cake and earn rewards on other tokens such as famous like Swipe (SXP), Trustwallet (TWT), Binance Coin (BNB), Alpha, Injective Protocol (INJ), HARD, UNFI and much others.

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At the time all days a big quantity of CAKE is burned, each block creates 40 CAKE of which 15 is burned, so that only 25 of them is available and distributed on farm rewards, pool rewards, lottery injection and burning of tokens. Pancakeswap introduces a new deflationary system named IFO ( Initial Farm Offering ) that is similar to an ICO ( Initial Coin Offering ) but on this, you are going to buy the new token with your CAKE-BNB LP token that is the one that you get when adding liquidity to the CAKE-BNB pair, the LP tokens that aren't used are returned to your wallet, the best thing of this is that all the BNB of the liquidity added from the LP tokens on the IFO goes to the token project and all the CAKE is totally burned. At the same time you can trade on the biggest Binance Smart Chain decentralized exchange.

By adding liquidity and stake your LP tokens you can earn up to 260% APY

By adding liquidity to a pair on pancakeswap.finance you are going to receive LP tokens, you can farm it to get great earnings on CAKE up to 257% APY or more, at the same time you are earning more because each time a person does a swap on the exchange it has to pay a little fee that goes to liquidity providers and is distributed proportionally on your share represented on your LP tokens, at the same time Binance Smart Chain (BSC) is growing on users because is the cheaper when you think on Ethereum, on BSC a transaction fee is almost $0.03 paid on BNB, that is why is growing little fast. So, it's time to stake your LP tokens on one of the several farming options, they are 35 pairs available!

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Yes, on Pancakeswap is possible to stake your CAKE to earn other tokens with a great APY, all of this are around 250% APY, another good option to make money work for you. You can harvest at any time you want, anything is locked for a period of time, you can stake and unstake at anytime you want.

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A great deflationary system that is introduced by Pancakeswap is the CAKE lottery on which you buy your tickets with CAKE, lottery works all day and all days are burned more CAKE.

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The first IFO was with BLINK (BLK) on which the total raise that was for this IFO was 1 million dollars, half of CAKE and half of BNB . Remember that participation on this was with LP tokens, that is why half and half, on the same day it where $500,000 CAKE BURNED BECAUSE OF THE FIRST IFO. The total raised was 484%, it means 4.84 million dollars and 384% more than expected, the 3.84 million dollars on BNB and CAKE where returned because the top to raise was 1 million, all participants receives token in proportion of contribution. So that, is expected that next IFO it's going to be even bigger, it means more CAKE to be burned.

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