Top BNB Chain DEX PancakeSwap Launches “Simple Staking” with Binance Earn
PancakeSwap, the top decentralized exchange (DEX) on the BNB Chain ecosystem, has teamed up with the largest crypto exchange, Binance, to simplify crypto staking for market participants.
In a post on X, PancakeSwap announced partnering with Binance Earn. The notification stated that the alliance has given birth to a crypto-focused project, “Simple Staking,” to revolutionize crypto enthusiasts’ investing experience.
In the official statement, PancakeSwap highlighted its vision to create an all-encompassing DeFi ecosystem that combines user-friendliness and innovation. It mentioned that Simple Staking represents a significant step towards achieving its vision as it offers users a seamless way to earn rewards.
PancakeSwap Simple Staking
According to the notification, the Simple Staking platform allows crypto users to stake prominent digital assets for rewards. The highlighted cryptocurrencies users can stake include CAKE, PancakeSwap’s native token, Polkadot (DOT), and stablecoins. The mentioned stablecoins were Tether (USDT) and Circle USD (USDC).
Furthermore, PancakeSwap noted that Simple Staking threads a path different from the traditional staking system in crypto. In particular, the DEX stated that Simple Staking allows users to earn rewards by staking a single type of asset.
PancakeSwap argued it is remarkably straightforward compared to traditional staking methods that involve complex liquidity pools and asset pairs. Also, it spotlighted four key benefits of its Simple Staking.
Among them was the absence of impermanent loss, a common concern with Automated Market Makers (AMMs). Moreover, PancakeSwap stressed that Simple Staking eliminates the need for users to manage multiple positions or transfer tokens between different yield farms.
Also, the report mentioned that rewards in Simple Staking accrue daily based on the Annual Percentage Rate (APR). Besides, PancakeSwap offered additional incentives for crypto investors staking its native token, CAKE.
Per the report, staking CAKE in the platform’s fixed-term pool will result in an APR boost, significantly increasing Simple Staking rewards.
https://thecryptobasic.com/2023/09/29/top-bnb-chain-dex-pancakeswap-launches-simple-staking-with-binance-earn/
Topic: Binance DEX: A Decentralized Exchange (Read 199 times)
How is it decentralized when you have complete control over the two chains you mentioned and their respective tokens?
This is true.
Bsc (binance smart chain) is fast and cheap, but only because it is very centralized. Bsc is based in a centralized structure that relies in 21 validation nodes (which are of course controlled by binance)
It is basically a centralized database, this is why it is fast and cheap.
You can read more here:
https://www.yahoo.com/now/binance-smart-chain-centralization-concerns-092000694.html
Quote
Researchers have expressed concern about Binance Smart Chain (BSC) and its validator structure which makes it way more centralized than its rivals.
Messari researcher Wilson Withiam has delved into the BSC structure in an April 12 tweet in which he stated that it is more centralized than most platforms.
“Some might overlook the influence Binance Chain has over Binance Smart Chain’s validator set. BSC has 21 active validators, making it more centralized than most platforms.”
He added that the validator set is determined daily by Binance Chain, a network managed by just 11 validators, and posted an infographic demonstrating the relationships.
Messari researcher Wilson Withiam has delved into the BSC structure in an April 12 tweet in which he stated that it is more centralized than most platforms.
“Some might overlook the influence Binance Chain has over Binance Smart Chain’s validator set. BSC has 21 active validators, making it more centralized than most platforms.”
He added that the validator set is determined daily by Binance Chain, a network managed by just 11 validators, and posted an infographic demonstrating the relationships.
How is it decentralized when you demand KYC and store those details on a centralized server which has been hacked in the past?
How is it decentralized when you require customers to deposit their coins to your centralized wallets which have also been hacked in the past?
How is it decentralized when you have complete control over the two chains you mentioned and their respective tokens?
How is it decentralized when users have to trust you completely the convert your centralized chain tokens back to the real coins they are pegged to?
Binance DEX is a marketing scam, nothing more. It is not decentralized in the slightest.
How is it decentralized when you require customers to deposit their coins to your centralized wallets which have also been hacked in the past?
How is it decentralized when you have complete control over the two chains you mentioned and their respective tokens?
How is it decentralized when users have to trust you completely the convert your centralized chain tokens back to the real coins they are pegged to?
Binance DEX is a marketing scam, nothing more. It is not decentralized in the slightest.
Explore the Binance Chain Ecosystem
Enjoy the most innovative NFT and DeFi dApps. Fast, decentralized, affordable and secure.
Explore the dApps
https://bscproject.org
Bridge
https://www.binance.org/en/bridge
Build on BSC
https://www.binance.org/en/smartChain
Trade on Binance DEX
https://www.binance.org/en/trade
Buy Crypto
https://www.binance.org/en
Enjoy the most innovative NFT and DeFi dApps. Fast, decentralized, affordable and secure.
Explore the dApps
https://bscproject.org
Bridge
https://www.binance.org/en/bridge
Build on BSC
https://www.binance.org/en/smartChain
Trade on Binance DEX
https://www.binance.org/en/trade
Buy Crypto
https://www.binance.org/en
Binance DEX
Binance DEX: A Decentralized Exchange
The dual-chain architecture of Binance Chain & Binance Smart Chain empowers you to build your own decentralized apps and digital assets on one blockchain, while also taking advantage of the fast trading performance offered on the Binance Decentralized Exchange (DEX).
https://www.binance.org
Binance DEX: A Decentralized Exchange
The dual-chain architecture of Binance Chain & Binance Smart Chain empowers you to build your own decentralized apps and digital assets on one blockchain, while also taking advantage of the fast trading performance offered on the Binance Decentralized Exchange (DEX).
https://www.binance.org
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