The Binance partnership with PancakeSwap shared $120,000 to users who staked Binance Coin (BNB). The campaign started on the 27th of November, and will run for 30 days, until the 27th of December at 1 PM (UTC). This event introduced me to the amazing world of PancakeSwap, a platform that has more staking and LP options than many top platforms. The most important step is to make sure the assets are sent to the Binance Smart Chain to avoid losing funds, by sellecting the BEP20 (BSC) option for the withdrawal.
Last week, random users won NFT's. I wasn't one of the chosen ones and none of my friends won so I can't say this award really happened!
The latest update from PancakeSwap, winners were announced that few hours are left for claiming. At the moment there are 185 unclaimed NFT's and if they remain unclaimed, 100 address are added per day until the last one will be claimed.
I took part in the BNB staking to receive CAKE but while shuffling around the platform I found this amazing range of LP pools, giving the opportunity to provide liquidity with the tokens offered through Binance Launchpool with Binance Coin (BNB) pairing.
This is another episode of the PancakeSwap platform exploration. See the previous ones below.
Episode 2: PancakeSwap: Got HARD? Get CAKE!
Another amazing feature of PancakeSwap is the "Harvest All", which will harvest all the CAKE farmed in all the farming pools.
As I previously added HARD and CertiK into CAKE farms and now I added a bigger share of my portfolio to boost my earnings. When Alpha Finance was added to both Launchpool and Launchpad, I had a good look at the project and at the time it was one of the most solid projects added on the Binance farming platform. Alpha Finance Lab is an ecosystem of cross-chain DeFi products that will interoperate to bring optimal alpha returns to users, focusing on capturing unaddressed demand in DeFi in an innovative and user friendly way.
This made me boost my number of ALPHA by buying some at a low price and the investment already doubled the value. I paid $0.80 fee, which was the biggest fee paid on Binance Smart Chain until now. However this is still minimal compared to the huge amounts required on Ethereum platforms, when providing liquidity or staking assets.
Adding the Alpha - Binance Coin (BNB) pairing on the CAKE Pool, to earn CAKE, and analyze how good the investment can be.
I left the pairing into the farm pool for 10 days and than moved them into the Liquidity Pool to earn ALPHA and Binance Coin (BNB), because I consider this two being better and more secure assets. During the 10 days period, my provided liquidity farmed 4.159 CAKE Tokens, the equivalent of $1.92.
To move them from the Cake Farm to Liquidity Provision, I had to withdraw the Alpha-BNB LP, which costed $0.04.
I moved the ALPHA/BNB paring into the Liquidity Pool, and paid a small fee for the transfer. As the amount is higher, I will have a 0.04% share of pool. The transfer was easy and straight-forward, in an easy to understand format, and user friendly interface.
The LP started to earn immediately after the deposit, and minutes later already generated $0.16.
The Binance Smart Chain is a fast and secure decentralized digital asset exchange based on the highly performant matching engine built on distributed consensus, launched to rejuvenating the crypto ecosystem. I created this user friendly, step by step guide on how to set Binance Smart Chain (BSC) Wallet on Metamask, aiming to answer the FAQ.
Links and referrals:
Amazon author page: PV Mihalache