There have long been calls for PancakeSwap to ring the changes and affect its token price, and recent weeks may well have seen an apt response to those calls.
CAKE Pool Revamp
PancakeSwap has announced that fixed-term staking is going to be its latest offering to users, and its arrival is imminent.
The announcement was made official via Medium on March 29 and will see the fixed-term pool provide further convenience and flexibility to users who stake their $CAKE. The new feature will look to provide higher yield and incentives for users looking to stake for an extended period.
“Chefs are thrilled to announce the development of the brand new CAKE Syrup Pool with fixed-term staking,” the Medium begins. “While we are currently waiting for the result of the security audits to launch this flavourful new pool, let’s dive into the sweet syrup and learn more about the new CAKE Syrup Pool first.”
The team has also maintained that one of the most important aspects of the move will see an improvement to CAKE tokenomics through helping the PancakeSwap and its community burn more $CAKE and lock part of the circulating supply.
Flexible and Fixed-Term
The team has explained that there will be just one CAKE Syrup Pool, but that particular Pool will offer both flexible staking and fixed-term staking.
With the Auto $CAKE Syrup Pool deemed the most popular offering for users since its launch back in April 2021, with over 130 million CAKE staked at the time of writing, the team understood that users are after simplicity and ease.
“Just stake it, forget about it, and go make some pancakes. Or feel free to watch your staked balance of CAKE go nowhere but up, block by block,” the team explains in the Medium announcement.
There was also a confirmation that the Auto CAKE feature would be replaced by the $CAKE Syrup Pool’s flexible staking option.
For users who keep hold of their $CAKE for the long term, fixed-term staking offers the natural path to maximize yield and generate more CAKE. By choosing a longer period in which to lock your $CAKE in the pool, users enjoy a linearly boosted APY compared to flexible staking.
“The longer you lock, the higher the boost applied to the yield. Fixed-term staking automatically compounds users’ CAKE rewards, locking them along with your staked CAKE, until your lock duration expires.”
But when will all this finally be introduced?
The team has explained that they are momentarily waiting for the smart contract of the new CAKE pool to be finalized as it undergoes the auditing process by industry-leading organizations.
“We expect the audits to be completed soon, and the migration will take place in mid-April along with our new MasterChef V2! More news about that later.”
What is PancakeSwap:
PancakeSwap is a Decentralized Exchange (DEX) built on BNB Chain. It offers users various features such as Liquidity Pools, Swapping, Yield Farming, Syrup Pools, Automated Market Maker, Initial Farm Offering (IFO), NFT profile system, and many others.
In addition, the protocol helps users make the most out of their crypto assets by trading, earning through yield farming, and winning via lottery, prediction, and NFT collectibles. With the highest trading volumes in the market, PancakeSwap is the leading DEX on the BSC.
Where to find PancakeSwap:
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