Without even adding the numbers on paper I can say that it was another amazing month on Pancake Swap! New pool were constantly added, new features upgraded the platforms and as a loyal Pancake Swap user ... I feel appreciated. The newest addition is Sushi Swap and $SUSHI can be staked to earn $CAKE! That's lunch and dessert sorted
One of my favourite projects was added on Pancake Swap. Elrond Network partnership was announced shortly after the launch of Maiar, Elrond's own Dapp wallet. Maiar comes with a nice layout, unique herotags vault, wallet and stickers. The referral program gives $10 cashback to new users when they buy $200 worth of Elrond Gold (eGLD) and 100% of friends commission. Learn and Earn opportunities will be added in the future. As I own a nice amount of eGLD, I am a crab between the shrimps!
Pancake Swap added the Elrond Pool, where users deposited CAKE - BNB LPto earn $eLGD. Staking was also added, giving the option to stake CAKE tokens for Elrond Gold farming.
I took out all the CAKE from the BTCST staking pool and withdrew the CAKE - BNB LP to power farm Elrond Gold (eGLD). The 36.80 CAKE-BNB LP Tokens were transformed in 234 CAKE and 7.15 Binance Coin (BNB). I was thinking about this move for days as I was afraid of a market correction or a huge bull run. Now I am so happy for his move as I can't imagine the catastrophically high impairment losses when BNB surged past $300.
Had to pay a small transaction fee to approve the CAKE spending in the EGLD pool. I staked 386 $CAKE at 49.53% APY and collected the earnings every week. After the SafePal Token (SFP) airdrop, the CAKE farmed from the SFP - BNB LP was also added to farm even more eGLD.
In a month time, Elrond was one of the most successfully pools on Pancake Swap. I farmed 1.37 eGLD and I am grateful for this opportunity.
Safe Pal Tokens (SFP)
SafePal is the first hardware wallet portfolio backed by Binance Labs. It has advanced security features including EAL5+ secure element, air-gapped signing mechanism, self-destroy mechanism, and multiple layers of security. They created the wallet native token, the SafePal Token (SFP), which was implemented as a method to boost the number of users, reward the existing ones, and amplify the SafePal importance in the crypto ecosystem.
I was able to tick enough boxes during the two airdrop rounds to earn a fair amount of SFP tokens. Once the tokens were distributed, I sent them to my Binance Smart Wallet to make a SFP - BNB LP.
I added LP when the APY was above 400% and when it dropped under 100% I decided to unstake everything. Again the timing was perfect as it happened just days before the great Binance Coin uprising.
I was again lucky to avoid huge impairment losses. After the bull runs, I really consider normal staking and abandoning LPs for a while. Separated the LP for 373 SFP and 3.29 BNB. The Binance Coin was sent back to Binance and added in the Litentry (LIT) Launchpool.
The SafePal Tokens and Binance Coin LP
The amount of CAKE generated in the SafePal pool was randomly assigned to either the Elrond or CAKE farming. The CAKE pool has a really good return rate and in February and farmed x CAKE
The Profile Picture and Pancake Team
This was added recently and I think is the most expensive profile I ever set up. Spending 5 CAKE for a profile picture may look extreme but I knew that this will come with achievements and rewards. The first step was to chose one starting collectible, which will be used as profile picture. This action required a payment of 4 CAKE tokens.
Sunny was my choice and went for approval. I always consider the transactions fees on BSC as a way to distress and have a proper laugh of Ethereum based AMMs and Yield Farming platforms.
Step 3 was showing the allegiance for a team. This choice cannot be undone so it was important to make a good choice. I went with the Chaotic Cakers as most of my actions are chaotic and I like cake.
Set your name! You cannot see it but I am sure you can guess it! One CAKE had to be paid for approval, which was added to the previous 4 paid to chose the profile picture. All set now and I was ready for achievements and rewards.
Few days later, this pop-up message appeared when I logged on Pancake Swap. I won the Bull Run collectible for being one of the first users to set their profile.
Aave or Sushi?
The proposal for either AAVE or SUSHI took place between 21st and 22nd of February. I personally preferred AAVE because I hold some but my vote didn't do any difference and SUSHI is the newest addition for flipping! The SUSHI pool was added to farm CAKE at hige APY.
LP fees income
I still have some small LPs on PancakeSwap and this month the Venus - BNB pair did great, providing $35 out of the $41.58 generated for supplying liquidity.
February reward for flipping pancakes
Summarising everything makes February a great month. Good return from LPs ($41 .58), and 15.60 CAKE ($190.45) from the SFP farm and the CAKE pool. Adding 1.37 eGLD ($191.15) and $34.10 worth of Litentry makes a total of $457.28 generated in the last month.
Keep on flipping! 🥞 💰 🥞 💰 🥞
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