PancakeSwap Release Fixed Staking

As Pancake Squad NFTs keep rising and $CAKE enjoys steady price action in the midst of a market pullback, PancakeSwap are making effective decisions with Fixed Staking, the latest development.

Fix Your $CAKE to Earn

PancakeSwap launched ‘Fixed Staking’ allowing users to lock their $CAKE for optimum rewards, and offering an alternative alongside ‘Flexible Staking.’

The news was expected after BNB Chain’s flagship decentralized application (dApp) unveiled the development earlier this April. It was officially launched today with confirmation coming via Twitter. 15% of all $CAKE in the syrup pool was immediately plunged into Fixed Staking within just three hours of its release. BSC News reached out to the PancakeSwap team and received this response:

“You asked, we delivered,” Head Chef Snowball said. “We have received great feedback from the community on the fixed-term staking option as it provides significantly boosted rewards for long-term holders. In addition, the team is also working hard to ship more mechanisms and features to reward our loyal supporters. Q2 will be a fruitful quarter for PancakeSwap.” 

The team has reiterated in recent weeks its intention to redesign its tokenomics and plans to incentivize users to HODL for a chance to participate in lucrative IFOs. $CAKE’s relatively stable price action during market-wide uncertainty––and consolidation––is certainly a positive signal for the moves the team has been making of late. There appears to be no sign of stopping either with a recent tweet indicating there is yet more to come, with the Chefs cooking up a few more secret features.cdn.embedly.com/widgets/media.html?type=text%2Fhtml&key=96f1f04c5f4143bcb0f2e68c87d65feb&schema=twitter&url=https%3A//twitter.com/pancakeswap/status/1518628495743668226&image=https%3A//abs.twimg.com/errors/logo46x38.png

Fixed-Term Staking

The previously released Flexible Staking has its own virtues, like seeing rewards auto-compounded and offering the opportunity to retrieve $CAKE at any moment, with no withdrawal fee after 72 hours. But Fixed Staking is set to offer more value to users that are patient and willing. The ability to stake $CAKE for a fixed period allows users to maximize yields and receive additional benefits, some of which have been outlined in PancakeSwap’s docs. 

No performance fees

The longer you lock, the higher the boost applied to the yield! Always offering a higher APY compared to flexible staking

CAKE rewards are auto-compounded and will unlock, along with your staked CAKE, when your lock duration expires

Once staked in fixed-term staking, you cannot withdraw until the end of your lock duration

IFO CAKE credit (the maximum amount of CAKE they can commit during an IFO) will be determined from the fixed-term staking pool

While initial signs are encouraging as users stream onto the offering, BSC News will be following closely to cover the longer-term impact of the exciting development.  

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What 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 BNB Chain. 

Where to find PancakeSwap:

‍Website | Twitter | Medium | GitHub

Source : bsc.news