PancakeSwap continues to introduce time-limited CAKE staking benefits to its users.
Introducing bCAKE
PancakeSwap remains the largest decentralized exchange (DEX) for all Decentralized Finance (DeFi) on the BNB chain. According to DappRadar, it is indeed the largest dapp in all crypto with over 2 million users in the last 30 days.
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PancakeSwap continues to innovate and on August 12th announced the launch of bCAKE, a protocol that will increase staker benefits of its CAKE token.
According to the blog post, bCAKE aims to increase CAKE farming yields from selected PancakeSwap liquidity pools. It is part of a series of time-limited CAKE staking benefits that DEX has introduced to reward CAKE holders. Currently, the bCAKE yield boost is only offered when staking LP tokens from the CAKE/BUSD liquidity pool.
A user’s bCAKE multipliers are calculated based on the following factors:
- the number of CAKES in temporary staking
- the period
- the number of LP tokens that the user has staked in the farm.
To ensure fairness, yield calculations are also based on:
- the total amount of CAKE in the fixed-term CAKE staking pool
- the average blocking time
- the total amount of LP tokens used in the farm.
PancakeSwap launched bCAKE after the introduction of vCAKE staking, which sets the CAKE limit of each participant in an Initial Farm Offering (IFO).
By introducing bCAKE and its yield boost calculation method, PancakeSwap aims to reward CAKE hodlers who also want to participate in AMM poos on BNB Chain’s premier DEX.
Which PancakeSwap:
PancakeSwap is a decentralized exchange (DEX) built on top of the BNB chain. It offers users various features such as Liquidity Pools, Swaps, Yield Farming, Syrup Pools, Automated Market Maker, Initial Farm Offerings (IFO), NFT collectibles, an NFT profile system, a lottery and a prediction market.
Users can improve returns on crypto assets through yield farming. With the highest trading volume in the market, PancakeSwap is the leading DEX on the BNB chain.
Where to find PancakeSwap:
Website | Twitter | Medium | GitHub
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