Why is the PancakeSwap (CAKE) token up today?

 The PancakeSwap (CAKE) token price jumped nearly 3% on Monday after it launched a Twitter poll regarding its proposal on Goldminer Syrup Pool and Farm. 



GoldMiner is a play-to-earn game, in which players can mine gold from in-game mines and earn a $GM token. Users can stake their CAKE token in the syrup pool and earn $GM tokens.

Let’s dig into the details of the proposal.

GoldMiner has 13.64 billion tokens, with a 60-day distribution period, starting on Jan 4 and closing on March 5, 2022, at approximately 11 am UTC.

Also Read: 2 dividend ETFs to consider in January 2022

The per-block rewards are 7,893 GM tokens. The maximum stake per wallet is 100 CAKE tokens for the initial 48 hours, and after which the staking is unlimited. According to PancakeSwap, the aim is to give an equal chance to everyone who wants to earn rewards at a high APY.

Players can also earn tokens and equipment by participating in the tournaments. 

What is PancakeSwap?

PancakeSwap is a decentralized exchange (DEX) on the Binance Smart Chain (BSC), a DeFi platform. The exchange offers various services, including Liquidity Pools, Swapping, Syrup Pools, Automated Market Maker (AMM), Yield Farming, Initial Farm Offering (IFO), etc.

PancakeSwap was launched in Sept 2020. Users can collect the liquidity provider tokens called FLIP after depositing the funds or farm tokens like CAKE and SYRUP on the platform.

PancakeSwap (CAKE) is a Binance-based or BEP20 token. Its founders chose to remain anonymous. CAKE traded at US$12.36, up 2.98% at 08:03 am ET on Monday.

DeFi Tokens and Defi based Dex  like pancakeswap are becoming popular now . Are You Interested in launching your own DeFi based Dex Platform? You must connect with DeFi Development Company like Bitdeal because they are providing ready-made solutions to launch your Exchange like pancakeswap Using Pancakeswap Clone Script. 

Citation : Kalkine Media

Comments

Post a Comment

Popular posts from this blog

India's Biggest NFT Marketplace Launch Plan, Says Digital Currency Exchange

Image
 Digital currency exchange has announced its plan to launch India's biggest Non-Fungible Token (NFT) marketplace along with its Peer-to-Peer engine. CryptoBiz: India's leading digital currency exchange has recently announced its plan to launch India's biggest Non-Fungible Token (NFT) marketplace along with its Peer-to-Peer (P2P) engine. The move is part of the exchange's aim of taking its metaverse game to the next level. While there have long been speculations about the use cases of mainstream blockchain adoption, the growing popularity of NFTs since the last year has churned out a new chapter altogether.  In this scenario, CryptoBiz brings its NFT marketplace to engage creators and collectors in creating, selling or collecting digital tokens supported by blockchain technology. It will allow the creators to mint their artworks into digital assets and provide them with an opportunity to showcase them online.  Collectors will be able to browse the marketplace for NFTs an...
Read more

Japanese Online Retail Giant Rakuten Launches NFT Marketplace

Image
 Rakuten Group, the Japanese electronic commerce and online retail company based in Tokyo has announced the launch of a non-fungible token (NFT) marketplace called Rakuten NFT. The announcement notes that new features will be added in the future, and a peer-to-peer service for minting and selling NFT content is planned to launch in 2023. Rakuten Launches Non-Fungible Token Marketplace During the last few years, the Japanese online retail giant Rakuten has been dipping its feet into the world of cryptocurrencies and blockchain solutions. In the summer of 2019, Rakuten launched a cryptocurrency exchange and in the spring of 2021, Rakuten allowed customers to load crypto into Rakuten Pay accounts. Now the company is getting into the NFT game, as Rakuten announced the launch of a new platform called Rakuten NFT. “Rakuten NFT is a service that provides a marketplace for users to purchase NFTs, as well as peer-to-peer buying and selling of NFTs, in a range of areas such as sports and ent...
Read more

How to start your own cryptocurrency exchange website? - A Complete guide

Start a cryptocurrency exchange website to support trading with bitcoin, ethereum, and other altcoins.  Bitdeal provides you the cryptocurrency exchange script which consists of all the necessary features to build a secured bitcoin/cryptocurrency exchange website.  How to start a cryptocurrency Exchange Website? You can start your own cryptocurrency exchange website with the help of a cryptocurrency exchange script or software.  You may ask us “why I should choose a cryptocurrency exchange script, is there are any other options? Of course, there are a lot of other options to start your own cryptocurrency exchange I.    By getting connected with a cryptocurrency exchange development company II.   Hiring freelancers III.  Buy Purchasing and Implement the best cryptocurrency exchange script Option 3: Buy purchasing the best cryptocurrency exchange script This would be the best choice than others, because i)    If you hire a cryptocurrency e...
Read more