CryptocurrencyPancakeswap

As Cake Trades Bullish, The Exchange Launches “Auto Compounding”, Freeing Users From The Manual Restacking

The world’s 5th largest Dex exchange and parent to the world’s 4th largest DeFi token; Pancakeswap continuous to advance, as its governance token trades bullish.

Through a blog, published just a couple of hours before, Pancakeswap announced the launch of the “Auto compounding” feature. The exchange currently offers a Cake (token) compundig feature, through which one could restack the cake, manually, time and time again to get “APY” (Annual Percentage Yield).

But now with the launch of “Auto compounding”, the users will be able to grow their cake without going through the trouble of restacking it manually. Though the manual compounding feature “CAKE Syrup Pool” would still be available on the exchange, the procedure will be made simpler for the users avoiding unnecessary hassle.

While the brightest feature that the auto variant offers is already explained above, we are not quite through Yet.

Through the auto feature the users that would provide their services, of restacking the coin, could be able to earn in form of “Cake Bounty”. Actually, when a user will compound, the cake, via restacking, on behalf of another user “2%¬†of each yield harvest” (as performance fee) will be automatically subtracted, out of which 0.05 will be earned by the serviceman.

Summing all of it up, against using “Auto CAKE Syrup Pool” the users will be charged an unstacking fee and performance fee. Though the performance fee must be paid, the unstacking fee could be avoided by not unstacking the stacked Cake with the following 72 hours. The 72 hours timer will be reset every time the new Cake will be stacked. Further, the exchange would charge any deposit fee.

Moreover, in case of not using the feature, together with the drudgery exercise of continuously restacking the coin, one would also be obliged to pay the BnB as a transaction fee.

So, in total one would be paying the Bnb’s transaction fee, the unstacking fee (if unstacked within 72 hours) and the hassle would still be there.

Tags

Rayne Harris

Rayne Harris is an analyst and editor, with over 5 years of crypto market experience. He has worked in several famous media outlets, specializing in technical analysis of running crypto trends and curates opinion stories based on analysis.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button