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Swap and Gas!

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@azircon
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Swap and Gas!

This post is a quick update on my Pancakeswap holding. This is critical as we are soon going to launch Liquidity Pools on Hive Engine soon. I am excited about that, as Liquidity Pools are the financial vehicles that most crypto enthusiasts are currently interested. It is the liquidity pools that is currently fueling the defi marketplace. What gained momentum with ETH and Uniswap has now moved into the Binance Smart Chain (BSC). Although Uniswap remains a powerful market, but high ETH gas fees and plagued the small players and trasactions. @dalz has a recent post showing that BSC transaction has now overtaken Uniswap. With that in background, I am lately testing the Pancaskeswaps on BSC, which is the most popular pairs at BSC, with $350M plus in liquidity! This post is just about showing a small transaction and I like for you to notice the fees...

In the two screenshots above, that should be visible. The first image shows that I have 81.808 Cake (which is a Binance Token) to harvest, which will add to my 79.1742 Cake I already have. I have my metamask wallet hooked to BSC (which is a custom RPC node) and it is showing that if I do this transaction, it will cost me 0.002 BNB (ignore the ETH sign, that is a bug in metamask). This number is rounded because when I actually check the transaction details on the blockchain, you can see that the actual transaction cost is 0.00111329 BNB or $0.17! Folks when is the last time you have seen 17 cents transaction fee on gas anywhere in ETH chain? Let me answer, a LONG time back! Currently, the ETH gas fees in uniswap for a similar transaction will be around $50-$100!

Above, I harvested my cakes, and now I have 160 or so cake, which I can send onwards to Binance for another 10 - 20 cents, and I can sell that cake for about $1500 at current prices of Cake of around $9.7! That is from a staking experiment I did from 20 days back. I staked a total about about $4000! Yep, that is how hot the Pancakes are right now :)

I don't know about you, but I am loving this chart. Please note the growth is parabolic and must correct itself. So a $5 or more drop in price is totally expected. If you enter now with your hard earned money, expect to take a hit. But the concept is novel and this is the immediate future of defi.

Disclaimer: This is NOT professional advice, this is all just my own opinion and experience. I am NOT a Certified Financial Adviser. Consult professionals for any financial, accounting or legal related questions you have.

Charts are created in Tradingview.com, which is a free service.

Posted Using LeoFinance Beta