INTRODUCTION
Everyone was hooked on the emergence of Decentralized Finance. Everyone can hardly believe what it brings to the entire crypto industry. Almost everyone is competing to join the left and right Airdrops developed by each DeFi-covered project. So let's go and explore the world of a Decentralized Finance Project called PancakeSwap
WHAT IS PANCAKESWAP?
PancakeSwap Finance is the number one Automated Market Maker (AMM) and yield farm platform built on Binance Smart Chain. It was launched at the end of September and made possible by the Binance CEO Changpeng Zhao as the flag bearer of a decentralized finance trend.
Approximately 3 or 4 months since the launch of PancakeSwap, it has been embraced by the entire crypto community especially the ardent supporters of decentralized finance. Many different projects have expressed support and many are also collaborating with it.
EXCHANGE FEATURES
PancakeSwap uses automated market maker model where it makes easily for users to trade their digital asset without using an order book but instead users, can trade it against a liquidity pool. Each pools was filled with other users' funds where they have deposited in the pool and in return they can receive rewards on LP Tokens (liquidity provider tokens) and they can use those tokens to reclaim their share and a portion of the trading fees will be added.
FARM AND STAKE ON PANCAKESWAP
Swapping is not the only thing that can be done with PancakeSwap. Its system also supports farming and staking where each participant will have a chance to accumulate and generate passive income
PROJECTS THAT ADDED SYRUP(LIQUIDITY POOL) TO PANCAKESWAP
➡️ Tenet Farm– a DeFi layer 2 facility on Ethereum and a cross-chain Automated Market Maker connector that provides decentralized Liquidity Tap for various tokens
➡️ AllianceBlock– a decentralized blockchain agnostic layer 2 that bridges traditional and decentralized finance
➡️ DITTO– the first elastic supply decentralized finance platform on Binance SmartChain
➡️ Reef Finance– the first decentralized finance operating system powered by Polkadot
➡️ Chiliz– the world's first tokenized sports exchange
➡️ TrustWallet– the most trusted cryptocurrency wallet
Binance one of the most popular and trusted cryptocurrency exchanges in the world has also expressed support for PancakeSwap. In fact, Binance launched a $240,000 reward pool in response to its collaboration with PancakeSwap.
This event was held on November 27, 2020 to December 27, 2020 and activity was very hype because many Binance and PancakeSwap fanatics participated and is one of the most successful events in the field of DeFi industry
Meanwhile, Tenet Farm recently conducted their Initial Farm Offering or IFO on the PancakeSwap platform and it can be said to have been very successful.
Farming, Staking, and Earning CAKE Token is very easy with the help of Trust Wallet. All you need to do is open up on your Trustwallet App and look for DApps section and there you will find PancakeSwap to start your activity of staking, exchange, swapping and farming
SEE ATTACHED PHOTO:
From there, you can select the option that you needed, wether you will do exchange, farm, or stake your assets to earn CAKE Token. You can also check on the Pools, Lottery, and even checking on NFT because PancakeSwap is not just an exchange but also support non-fungible tokens.
STAKING– on staking, users can stake LP Tokens to earn CAKE. They should deposit CAKE-BNB LP to earn CAKE with 139.43% APY in return. They can choose different tokens to stake with and earn different percentage of APY as taking profit.
SAMPLE PHOTO BELOW:
It is very easy to farm and stake on PancakeSwap, stakers also have many options what asset would they want to staked with in order to generate passive income with a high yield interest in return
Actually our team at Definews Info even conducted a contest related to PancakeSwap and we were surprised by the result of the Community Review that they conducted. Many joined and enjoyed while others submitted great reviews as well. It gives a standout statistics that are really amazing
SEE STATISTICS BELOW:
As of present time, one more project will be conducting its Initial Farm Offering on PancakeSwap platform, called Helmet Insure. The event will start on 13th January 2021 and there will be 10,000,000 HELMET Token to be sold 10% of the supply that aims to raised $1,000,000 USD in CAKE-BNB LP Token.
Therefore, this project is very trustworthy, with strong security and high integrity that every person holds because they believe in the ability of PancakeSwap to take care of their assets.
INFORMATION RESOURCES:
PancakeSwap Community Review Contest
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IMPORTANT REMINDERS:
"We deliver these news article based on our own thorough research. We want to preserve some important information regarding the project that is presented in our column. We value our reader's opinion and appreciate your valued respect to us. The article above is not a financial advice and as we always say "Invest at your own risk and only invest what you an afford to lose"
