I am a Pancake users since early days, and enjoyed the boom that the $CAKE token had. I farmed at $0.20 and sold at $20, I kept some and farmed again, and still farming at the moment. Why? Because PancakeSwap still has some of the best tools on Binance Smart Chain.
Today I will expand the boosted rewards given by the pools with locking periods and automatic restaking. The pools with locking periods brought new opportunities for HODLers, constant earnings and higher farming power.
I kept my CAKE in the auto-compounding pool, until the new pools with time-locking periods and multipliers were added. This pool had a 0.1 unstaking fee and 2% performance fee, which made me move my CAKE in the new locking pools.
The locking pools are now offering a higher APY, with better rates for longer periods of time. Locking cake for a week will give a 9% APY, and the expected return for 40 CAKE will be 0.44 USD. However, I went all-in and locked my tokens for the maximum available... 52 weeks.
Locking my bag of CAKE for 52 weeks would set the expected income at 344 USD, thanks to the 141.84% APY given by the lock duration. The yield boost also moved from 1.38x to an outstanding 20.95x
Cake locked for one year, until 9th of May 2023, and time to let the auto-compounding pool do the job. My CAKE stash will reach 100 tokens in 52 weeks, without me having to check the progress.
PancakeSwap keeps thing interesting, and the Mines of Dalarnia treading competition took place. The team with the most points won prizes, Pancake Swap NFTs and Mines of Dalarnia NFTs.
I did a bit of trading, which I don't really enjoyed, but I am happy I had minimal profits. I bought DAR, then sold DAR when price got better, bought even more DAR and sold again!
My trading volume at the end of the trading competition was $508, and I finished #165 in my team. The Chaotic Cakers finished 3rd and the prize was not the best.
My share of the prize was minor, due to the team ranking and my position in my team. I won 250 points, 0.2222 CAKE and 11.9 DAR, which I swapped for BNB. Wish my team performed better and won some NFTs as well.
I made some profits on BSC and decided to invest a bit more in CAKE! Added some more and the lock was renewed, reducing the benefits to 104.56% APY but keeping the lock to 9th of May 2023.
Adding more CAKE will maintain the lock date but will reduce the benefits due to shorter lock period. I added even more CAKE, raising the stash to 201 tokens. The APY dropped to 98.76% and the expected ROI is now 825 USD, a much better forecast then before.
With only 11 months left of my lock, I already farmed 5.85 CAKE tokens. Just a basic forecast, without calculating the auto-compounding, results 63 CAKE tokens farmed in the remaining months. However, the reward will be much higher as the value will get higher and higher each week.
Residual Income:
CakeDeFi $30 DFI for new users
The fountains: PipeFlare ZCash, GlobalHive ZCash & Get.ZEN
Publishing bundle: Publish0x, readcash, noisecash, LBRY & Presearch
