BSC has nothing to do with the first layer blockchain. First and second layer blockchains have the same purpose to be alternative blockchain for non scalable blockchain like ethereum. You must know the main purpose of first and second layer blockchain.
For the main question as long as you can still earn good APY and why not? cake was not the only choice. If you are thinking that doesn't look good and you can move to the another dapps and we have so many blockchains that have fully developed dapps like solana, avalanche, polygon and many more. I think that there are bunch of reliable defi with good liquidity on those blockchains. don't worry about that mate.
Topic: Need a second opinion on the new CAKE staking system - page 2. (Read 208 times)
My worry is the BSC ecosystem could fall down in popularity due to the layer1 competition. I have a good chunk of CAKE and I'm trying to figure out what best to do with it.
Just wanna try to remind you that as long as binance will always become the biggest exchange site in the world and BSC ecosystem will always exist like this time. The popularity of BSC came from the binance exchange site as the biggest exchange site in the world. That means if binance will not die and BSC ecosystem will remain the same. You can do anything with your cake but i think that layer 1 competition was not so strict. Remember that if BSC was second layer blockchain. It has first layer called binance native chain.
Even though the BSC Blockchain is not the first layer, we also don't need to worry because BSC is dependent on Binance.
So as long as Binance is alive, everything will continue to be safe.
It seems that her worry about her CAKE is too much maybe.
My worry is the BSC ecosystem could fall down in popularity due to the layer1 competition. I have a good chunk of CAKE and I'm trying to figure out what best to do with it.
Just wanna try to remind you that as long as binance will always become the biggest exchange site in the world and BSC ecosystem will always exist like this time. The popularity of BSC came from the binance exchange site as the biggest exchange site in the world. That means if binance will not die and BSC ecosystem will remain the same. You can do anything with your cake but i think that layer 1 competition was not so strict. Remember that if BSC was second layer blockchain. It has first layer called binance native chain.
So pancake swap recently slashed the staking APY heavily for the CAKE token (12% down from around 70%).
That's unless you choose their locked staking option. You can choose your lock-up period and the maximum is 1 year, where you'll be given 230% APY. This is an attractive offer but I'm not sure whether CAKE will hold its value one year from now. Traditionally, the BNB chain was the only option if one wants to interact with smart contracts but not have to pay Eth's transaction fees. But now there are many competing layer 1's.
What do you guys think?
Better moving and out from CAKE coins taking after down APY reward from 70% become 12% and price not stable, last days drop drastically from $8 and now almost $7.4. Bad thing with Cake coins almost reach $40 all time high price and right now drop drastically and not interested again for staking on this coin. I think have enough you can removed your staking or farming on Cake coin before price dump again and loss much with Cake coin staking or farming. That's unless you choose their locked staking option. You can choose your lock-up period and the maximum is 1 year, where you'll be given 230% APY. This is an attractive offer but I'm not sure whether CAKE will hold its value one year from now. Traditionally, the BNB chain was the only option if one wants to interact with smart contracts but not have to pay Eth's transaction fees. But now there are many competing layer 1's.
What do you guys think?
My worry is the BSC ecosystem could fall down in popularity due to the layer1 competition. I have a good chunk of CAKE and I'm trying to figure out what best to do with it.
I am sure the APY adjustment is for the benefit of the CAKE ecosystem. I don't find it disturbing if it will help CAKE to build a stronger economic foundation. As for the lock staking, it is both pros and cons. OP, you worry about the price crashing if you lock your stake for 1 year, what about if the price surge after a year of locking your stake? Just weigh it out OP, which investment system suits you. If you think both are unfair then just let go and look for another venture.
So pancake swap recently slashed the staking APY heavily for the CAKE token (12% down from around 70%).
That's unless you choose their locked staking option. You can choose your lock-up period and the maximum is 1 year, where you'll be given 230% APY. This is an attractive offer but I'm not sure whether CAKE will hold its value one year from now. Traditionally, the BNB chain was the only option if one wants to interact with smart contracts but not have to pay Eth's transaction fees. But now there are many competing layer 1's.
What do you guys think?
Though the offer is very attractive and apparently tempting, I suggest for you OP think which one is safe. If you can't afford to hold or stake longer like a year, please don't do that. I'm not sure nor we can assure that the CAKE token is way good-looking and promising that staking long-term will give us a profit. We can't just neglect the possibility that it may down badly making our investment gone all of the sudden. I think it was not because of the huge offer and rewards when staking, we should have to think about the safety assurance of our investment that we never cry in vain on the latter. That's unless you choose their locked staking option. You can choose your lock-up period and the maximum is 1 year, where you'll be given 230% APY. This is an attractive offer but I'm not sure whether CAKE will hold its value one year from now. Traditionally, the BNB chain was the only option if one wants to interact with smart contracts but not have to pay Eth's transaction fees. But now there are many competing layer 1's.
What do you guys think?
that's not a big problem since you have so many places to get better APY rather than cake. if the APY get slashed so hard it's caused by so many people are only trying to earn and then dumping their cake to the market. that's why cake was changing its system to be a long term staking that can hold the value for cake to go up. You must also aware if we are also in the bearish market. Long term staking looks very attractive rather than doing short term staking while at the same time we are also waiting for another bullish trend to come soon.
I do believe cake can hold its value for long term. This mechanism is good enough
I do believe cake can hold its value for long term. This mechanism is good enough
So pancake swap recently slashed the staking APY heavily for the CAKE token (12% down from around 70%).
That's unless you choose their locked staking option. You can choose your lock-up period and the maximum is 1 year, where you'll be given 230% APY. This is an attractive offer but I'm not sure whether CAKE will hold its value one year from now. Traditionally, the BNB chain was the only option if one wants to interact with smart contracts but not have to pay Eth's transaction fees. But now there are many competing layer 1's.
What do you guys think?
That's unless you choose their locked staking option. You can choose your lock-up period and the maximum is 1 year, where you'll be given 230% APY. This is an attractive offer but I'm not sure whether CAKE will hold its value one year from now. Traditionally, the BNB chain was the only option if one wants to interact with smart contracts but not have to pay Eth's transaction fees. But now there are many competing layer 1's.
What do you guys think?
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