Pancakeswap Staking options is Top-Notch!
Staking, or the process of putting one’s tokens up to assist in validating transactions on a blockchain or providing liquidity to decentralized exchanges, is one of the key passive income opportunities crypto investors have. Through staking, investors can earn additional tokens on blockchains using a proof-of-stake validation model, or in liquidity pools decentralized exchanges use to facilitate trades.
Investors may get light-headed when looking at the annual percentage yields (APYs) of the crypto investments on various platforms. Let’s take a look at what’s possible when one stakes Cake in a Syrup pool on PancakeSwap.
Currently, there are 16 tokens available for staking in the network’s pools, with the most-staked pool, Auto CAKE, returning an APY of 72.70%. There are pools with even greater rewards available.
Staking Cake on PancakeSwap offers many benefits over traditional yield farming. Mainly, all of the platform’s staking options provide an extremely high return, and they are not traditional liquidity pools. That said, when one participates in yield farming, there are a number of specific risks to be aware of. Investors are exposed to what is called “impermanent loss,” where if the price of an asset rises or falls, one’s profits can be lower than they would have been had those assets simply been held in a cold wallet. Staking does not incur this form of risk.
When comparing UNI to Cake, it’s easy to see which one wins. Because UNI cannot be staked within the Uniswap platform, it is just used as a governance token. Cake simply has more utility and provides more options for holders to generate passive income.
🔥 HOSECOIN IS NOW AVAILABLE ON PANCAKESWAP (HOSE/BNB)
📝 Contract: 0x896a8e20adf946db11cff64c30fc0e34b322dd0c
💩 Poocoin Chart: https://poocoin.app/tokens/0x896a8e20adf946db11cff64c30fc0e34b322dd0c
🍰 Pancake swap: https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x896a8e20adf946db11cff64c30fc0e34b322dd0c
📊 Bscscan: https://bscscan.com/token/0x896a8e20adf946db11cff64c30fc0e34b322dd0c
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