The newly added yield farm recorded a tremendous percentage rate upon launch but has declined due to increasing liquidity.
PancakeSwap Launch $HIGH Farm and Syrup Pool
PancakeSwap continues to expand its yield farming options for users. The leading Decentralized Exchange (DEX) protocol on BNB Chain introduced HIGH-BUSD Farm and $HIGH Syrup Pool with high Annual Percent Rate (APR).
Users of the DEX can now stake HIGH-BUSD liquidity provider (LP) tokens and earn $CAKE. They can also stake $CAKE in Syrup pools and earn $HIGH at low risk. As of the launch time, the APR for staking on the $HIGH syrup pool was at 895.52%. However, the rate has dropped due to increasing liquidity on the platform.
“The $HIGH Farm and Syrup Pool are now live! $HIGH-BUSD Farm: pancakeswap.finance/farms. Stake $CAKE, Earn $HIGH: pancakeswap.finance/pools. APR will drop as liquidity increases,” PancakeSwap, on February 25, updated its community through Twitter.
Currently, the APR for staking HIGH-BUSD is at 127.09%, with over $1.4Million in liquidity. The newly added Yield Farm is the seventh Farm with the highest APR on PancakeSwap, and the number one Syrup pool with the highest APR. Visit PancakeSwap’s tweet to learn more.
The leading DEX on BNB Chain strives to give its users numerous yield farming options. As a result, the protocol launched an important initiative called the Community Farm Auction in July 2021. The feature allows projects to bid on PancakeSwap farms, rewarding users of their tokens with $CAKE tokens. Winners receive 1x multiplier farms from the DEX for seven days and make new farms available for users to earn at high APRs.
Since then, the protocol has hosted up to 15 auctions, bringing new yield farming opportunities for users. Projects have already started to bid for the upcoming farm auction, and we expect more farms to be added in the future.
What is PancakeSwap?
PancakeSwap is a Decentralized Exchange (DEX) built on the 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.
PancakeSwap’s official links are available below:
Source : bsc.news
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