Cooking on PancakeSwap: The delicious CAKE - BNB LP

Cooking on PancakeSwap: The delicious CAKE - BNB LP

By PVMihalache | Mind Puzzle | 13 Jan 2021


I decided to up my game in 2021 and sent some Binance Coin (BNB) to make some dough! If you send anything on PancakeSwap, don't forget to send it as BEP20 (BSC) to avoid any unpleasant events, such as losing the assets. This is the middle option.8ea247b0bcdb98b681092556bd1eb514fb27102b1b0aec3d8a7a2957f655d07e.jpeg

I had 10 BNB on PancakeSwap, the ones staked in the CAKE Pool, which to be honest, generated a lot of income, over 50 CAKE tokens.7d214817f377d19a51bb574b45f1c21d4e36eeeb079907c37f4ed4e055dd3428.png

The next step was to withdraw the CAKE compounding in a 212.13% APY.8be78dd6cfab925a3b7a80a1c4661f25020267012fe9e3fc95d2e80e9e96ba83.png

When both assets were back in the Metamask Wallet, I used them to create this self-raising dough, which gives 30X reward.486c8dd1ed77b17f893e6de84bea99bd766b56f09b9ffc1a51e1c9c9fec699a0.png

After paying $0.03 and $0.04 fees, I started to believe that $0.72 is a rip-off. But than I remember the fees I had to pay on Ethereum chain and I click "Approve" laughing. I added nearly 60 CAKE in pair with BNB, for less than 0.01% of the Pool.52281abfb2da96c9223c335e9aa4c376a8cb9b0bd823a5e3e128458710e8ec08.png

Once the LP was confirmed, I had to stake it in the farming pool. If any LP is left unstaked, will generate the tokens added in the pairing not CAKE.9737d7d54d72960ef51dceb0d2b525ce638d2707e09996261cd2f7b8e7ce62e1.png

Paid a minimal fee to stake the LP tokens, and CAKE started to be generated.82cd447a9d60989fbd0cf4f57d26ca30c3580569674315112a04d88afde8092e.png

After 48 hours, amazed by the return, I decided to add more CAKE-BNB LP into the pool, up to 36.8 LP Tokens. 63a60a96ca7936eb12160f864a76328caaf7baa0d9bd422fd57a8d671c5f4cf5.png

In 10 days, the CAKE-BNB, ALPHA-BNB and REEF-BNB farmed 48 CAKE, which was staked to earn REEF. Adding more and more CAKE into the REEF farm generated 182 REEF tokens. Everything is going according to the plan. 

f93d79a469e7c5de0cca5912f6d71a45bee5045a99c32d844eb2534ba4567e4a.jpeg

 

Residual Income:

PVMihalache Amazon Books

DeFi bounty at CakeDeFi with $30 DFI for new users

The fountains: PipeFlare ZCashGlobalHive ZCash  & Get.ZEN

Publishing bundle: Publish0xReadCashLBRY & Presearch

(Trophy cabinet under construction)


PVMihalache
PVMihalache

Self-Published Author, Football Referee, Football Coach, Early Crypto Investor, Personal Trainer, Well-Being Guru, Open-Minded, Traveller, Social Media Enthusiast, and many more...


Mind Puzzle
Mind Puzzle

Think! ... it's still free! An amalgam of cryptocurrency, science, arts, news and other manifestations of human intellectual will be published on this blog. Sometimes I will add my personal opinions or midnight revelations

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.