PancakeSwap: One month since I flipped my first CAKE!

By PVMihalache | Mind Puzzle | 30 Dec 2020


One month ago I had my first contact with PancakeSwap, after seeing the Binance announcement and reading about the limited offer to stake Binance Coin (BNB) and get CAKE. The collaboration shared $120,000 to everyone who staking Binance Coin (BNB) on the platform as an event that aimed to grow the awareness for the new Binance Smart Chain. Another $20,000 worth of BNB will be distributed in the wallet of all eligible participants within 14 days of the activity period ending. I am curious about the share of BNB I will receive in January, and grateful to PancakeSwap for such a wide range of LP and farming pools. 

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After the 30 days of using BNB to farm CAKE, which I than used to farm CAKE, I managed to harvest 45 CAKE, valued at $23.05, which is a nice income for 30 days. Now I need to decide if and where to stake the CAKE! From the liquidity I provided, I earned $1.42. Considering all the moving and changing from LP to Cake farming, this is not bad at all. For January, I will leave the LP's untouched to see the earnings in a full month.7a2d8077d992fd2872f6eb33427f38c6b8c60bb6c7361f63b80e681b10182377.png

From Binance Launchpool, I earned 7.75 HARD, which I decided to add on PancakeSwap. If you got HARD in November, you can now get some free CAKE. In my opinion HARD and CAKE are creating a sinful pair but so wicked in the same time.751ffc2bd1a96ae3ed9cf0db97ad708ed72f8ca9680abc5da10fb53696e6b5c6.png

CertiK (CTK) was another weird token I farmed from Launchpool. The 2.33 CTK I had were first added in a CAKE farm than shifted as LP to generate Binance Coin and CertiK (CTK). The 0.000478% share of the pool didn't look too promising but is better than doing nothing on Binance Spot Wallet.97b1cac1dbcc2a8377f397e3752d38fabd75621fc534add06a787aab4cf037a5.png

PancakeSwap went Alpha mode, and leaded my pack, when I added the ALPHA Finance tokens. 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. During the Launchpool farming, I boosted my number of ALPHA by buying some at a low price and the investment already doubled the value.51064d602c4336bafc185534fc1f4e4fd058f06bcd6c84515cfec6d4cfa818a0.jpeg

The ALPHA/BNB paring into the Liquidity Pool was my option, and as the amount was higher, I had 0.04% share of pool. The transfer was easy and straight-forward, in an easy to understand format, and user friendly interface.7e90552a80bb3ac0ed4455a546a8c8b62eb808fbbfd9e7fa320c849ae9a49db3.png

As a nice surprise from Binance and Trust Wallet, I received 100 TWT airdrop, which I moved and staked on PancakeSwap. I love Binance Smart-Chain, and the ultra low fees. Took few seconds to approve and confirm the TWT deposit. Once done, the TWT started to earn CAKE at 321%  APY!b5d85e5969c38cd3c890af44e7ec26e7575e51d168d3ff95293fd04ebb4b81c0.png

NFT's

At one point, the NFT tab appeared on the dashboard. During the claim users could registered their interest for a chance to win an NFT.

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Random users won NFT's but I wasn't one of the chosen ones and none of my friends either so I can't say this draw really happened! 22a748f5c145ffc53556593b53bce402ea617202eb00a8f67c1be7984f96f8f9.png

PancakeSwap posted a tweet, letting the winners know that only few hours are left for claiming. After the deadline, 100 address were added per day until the last one of the 185 unclaimed NFT found an owner. 

Governance 

Never been so involved in voting proposals as I've been this December on PancakeSwap. The first proposal was to increase the lottery burn to 20% from 10%. This will increase the amount of CAKE burned daily and further reduce the emissions.e9d8079bcb28cd2fd4de9bdba3a2ad50682459ec661cd324393a65bb3ce73507.png

This proposal was top, so I agreed with the increase to 20%. This was the clear option, as 99.46% of the votes went in favour of the new allocation.915cf221e771840d328bb41fa5e2f4370dad00e84f0428f4f3e2a7020a6f1e28.png

The second proposal I voted was to adjust the lottery frequency, from 4 per day to only 2 per day, and a injection of 100 CAKE every 2 days instead of the current 50,000 units per day. The aim is to increase participation and speed up the pot growth.117ac14130cab15876e5ac6b102ec9909f93a288f119b2b9a8fed3d644089413.png

Again, a proposal that makes sense, therefore I vote for it. Again the innovation was the preferred option, as 98.93% of the voters chose the adjustment.ec1e0876ff36c0a60f858d94f9c3212afbe3bbc57c8e2d5d53c12f0e41438e63.png

PancakeSwap in 2021

As most of my altcoins and free stuff from Binance Launchpool are on PancakeSwap, I will just keep them locked in LP's as getting small amounts of residual income is still better than keeping them in a wallet. This way both the tokens and the Binance Coin (BNB) will grow, and if at one point the price is right, I will sell them for profit. The amount of Cake is considerable and PancakeSwap is always bringing new partnerships on the platform, as they did recently with the FAN Tokens from Chiliz or with Ditto Finance. Therefore I will not lock them as Liquidity, and I will stake them wherever the APY will be better. 

The newest update on Twitter, welcomes Reef Finance on PancakeSwap. 

 

Links and referrals:

Binance & PancakeSwap - a collaboration sharing $120,000

The TWT distribution and how I staked TWT on PancakeSwap

PancakeSwap: Got HARD? Get CAKE!

PancakeSwap NFTs and farming with CertiK (CTK)

PancakeSwap going ALPHA! Leading the LP on Binance Smart Chain

Amazon author page: PV Mihalache

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PVMihalache
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Mind Puzzle
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