question about Staking CAKE for 5 years

stomachgrowls

hero member

Activity: 3010

Merit: 794

Quote from: network99 on November 19, 2021, 12:29:56 PM

Hello guys

have a nice time

I have a question about Staking CAKE for 5 years ! Im Staking CAKE for 5 year, if after second year, I need to my money, Can I unstake and withdraw all of my Staked CAKE (staked cake and profit taken)

if Im unstaking CAKE after 2 years , Do I have to pay a fine or a percentage reduction?

I have $ 1,000, I want to stack it, do you think I can stack it for five years? Or should I stack for one year and renew the stack every year?

According to.
https://beincrypto.com/learn/how-to-stake-cake/

You can stake tokens for 1 day, 7 days, 30 days, 1 year, and 5 years, and there is an unstacking fee if you withdraw your tokens within the first three days.

So its up to you on what duration you would able to pull of those funds that you have stacked or staked on the platform.
5 years time? Too long to consider and we cant be sure on when it would shut down.

jrrsparkles

sr. member

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Hire Bitcointalk Camp. Manager @ r7promotions.com

Staking platform offers different withdrawal features and none is going to exceed more than a year so you won't be paying any penalty for premature closing of your investment and I don't think we have to mention how long we are going to hold as well and its biggest advantage which is never available in fiat based investment.

Anyway do you believe that CAKE will still have any value after 5 years? I don't think it will.

nullama

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Quote from: network99 on November 20, 2021, 12:23:53 AM

thank you blockman, blockman and asriloni

Quote from: asriloni on November 19, 2021, 05:54:44 PM

Do you wanna to participate in yield farm pancake?

yes, I do
I wanna to staking in pancakeswap

Do you have a better offer?

Five years is a long time, and many things can happen. Make sure that you'll be OK if your investment goes to $0.

Having said that, as of today:

Pancakeswap offers you a 78.21% APY

Pancakebunny offers you a 84.50% APY

The main difference is that pancakebunny pays you in Cake and Bunny, not only Cake. Shouldn't really matter too much since it's all Cake internally until you withdraw it, and then you can just convert the bunny to cake, or all to a stablecoin, etc.

With pancakeswap you are dealing with the original issuer of cake. With pancakebunny you're adding one layer of risk because it's another company using pancakeswap, but it does give you more APY.

joniboini

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You probably should ask after 4 years or so have passed, since there is a very high chance that the rules changed again. Currently there is no penalty if you take profit after you've been farming for at least a few days (iirc), but I won't be surprised if next month they'll require you to lock at least a year or so if you don't want to get a -15% fee.

Crypto is quite flexible, just make sure you don't spend what you can't afford to lose.

pealr12

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In some staking platform, there are penalty fees when a user unstake before the period when the staking will end, and depending on the options, some are flexible and some not so flexible, meaning some can ve unstake without any penalty,
It will be better to get more clarification from the pancakeswap team to get the right information.

network99

jr. member

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thank you blockman, blockman and asriloni

Quote from: asriloni on November 19, 2021, 05:54:44 PM

Do you wanna to participate in yield farm pancake?

yes, I do
I wanna to staking in pancakeswap

Do you have a better offer?

asriloni

legendary

Activity: 3038

Merit: 1024

Leading Crypto Sports Betting & Casino Platform

Quote from: network99 on November 19, 2021, 12:29:56 PM

I have a question about Staking CAKE for 5 years ! Im Staking CAKE for 5 year, if after second year, I need to my money, Can I unstake and withdraw all of my Staked CAKE (staked cake and profit taken)

You can unstake it. You can see this as your reference https://twitter.com/pancakeswap/status/1388026204490375169
that's for staking but I think that when you're dealing with yield farm and you may get impermanent loss.

Quote from: network99 on November 19, 2021, 12:29:56 PM

if Im unstaking CAKE after 2 years , Do I have to pay a fine or a percentage reduction?

You need to pay 0.1% for the unstake fees.

Quote from: network99 on November 19, 2021, 12:29:56 PM

I have $ 1,000, I want to stack it, do you think I can stack it for five years? Or should I stack for one year and renew the stack every year?

It's better if you're doing it every year. You can stake it for five years but I think that the APR can also change based on some reasons. It's better to re-stake it after 1 year.
Do you wanna to participate in yield farm pancake?

blockman

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Quote from: noorman0 on November 19, 2021, 12:53:19 PM

It depends on the staking status you take. If it is "Flexible", you can withdraw funds at any time and earn profits according to APY.

And if it's "Locked", you can only withdraw according to the period you set. Regarding fines, in general there are none. It's just that the profits you earn will be canceled entirely. But I never found a staking period that is more than 3 months (maybe I'm wrong).

This is right, just read the term before you stake OP. If you want to withdraw at any time then make sure that you'll be reading what's said by noorman.
5 years is quite long for you to stake and there can be a lot of things that might happen even just for the first year when you needed the money. It's good that you've asked so that you'll be aware of the terms as you stake and unstake.

noorman0

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[Nope]No hype delivers more than hope

It depends on the staking status you take. If it is "Flexible", you can withdraw funds at any time and earn profits according to APY.

And if it's "Locked", you can only withdraw according to the period you set. Regarding fines, in general there are none. It's just that the profits you earn will be canceled entirely. But I never found a staking period that is more than 3 months (maybe I'm wrong).

network99

jr. member

Activity: 48

Merit: 6

Hello guys

have a nice time

I have a question about Staking CAKE for 5 years ! Im Staking CAKE for 5 year, if after second year, I need to my money, Can I unstake and withdraw all of my Staked CAKE (staked cake and profit taken)

if Im unstaking CAKE after 2 years , Do I have to pay a fine or a percentage reduction?

I have $ 1,000, I want to stack it, do you think I can stack it for five years? Or should I stack for one year and renew the stack every year?

Topic: question about Staking CAKE for 5 years (Read 118 times)