PancakeSwap: Got HARD? Get CAKE!
I feel it's time to start a PancakeSwap series, mainly because CAKE is trending so much recently and growing beyond any expectations.
I discovered PancakeSwap in December 2020, when BSC was fresh, PancakeSwap was brand new and CAKE had a $0.20 value.
I joined the project thanks to the Binance partnership with PancakeSwap, when $120,000 were shared to users who staked Binance Coin (BNB). The campaign started on the 27th of November, until the 27th of December. This event introduced me to the amazing world of PancakeSwap, a platform that has more staking and LP options than many top platforms.
Using Pancake Swap for staking and LP
The most important step is to make sure the assets are sent to the Binance Smart Chain to avoid losing funds, by sellecting the BEP20 (BSC) option for the withdrawal.
I took part in the BNB staking to receive CAKE but while shuffling around the platform I found this amazing range of LP pools, giving the opportunity to provide liquidity with the tokens offered through Binance Launchpool with Binance Coin (BNB) pairing.
One of my favourite Launchpool project was Hard Protocol, when users got HARD by staking BNB (I think this joke is immortal). Hard Protocol is a decentralized and permissionless cross-chain money market build on KAVA, which will perform cross-chain asset lending and borrowing. HARD token is the governance token and will be used as reward for providing liquidity and borrowing cross-chain assets.
During the 30 days farming on Launchpool, I earned 7.75 HARD, which I decided to add as liquidity on PancakeSwap. If you got HARD in November, you can now get some free CAKE. In my opinion HARD and CAKE are creating a sinful pair but so wicked in the same time.
I paired them with Binance Coin (BNB) in the hope to earn some residual income, cause as you know already, I am a huge fan of residual income.
The process was straight forward, made easy by the BSC on Metamask. The fee was $0.04 BNB, which compared to ETH gas fee is kind of non-existent. The HARD/BNB pairing is valued at $10.45 and it already started earing immediately after the process was finished.
I compared the LP pools with the FARM pools, which requires the same asset pairing and I decided to move the HARD/BNB pairing into a farm pool that will earn CAKE. Over the night, the pool already generated 0.009 CAKE, and I love cake! I held this LP for over 4 months, and even if it had such a small value, it generated 5 CAKE.
The Binance Smart Chain is a fast and secure decentralized digital asset exchange based on the highly performant matching engine built on distributed consensus, launched to rejuvenating the crypto ecosystem. I created this user friendly, step by step guide on how to set Binance Smart Chain (BSC) Wallet on Metamask, aiming to answer the FAQ.
Resources:
The fountains: PipeFlare ZCash, GlobalHive ZCash & Get.ZEN
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