New Syrup Pools Require PancakeSwap Users to Re-Stake in New Contracts

PancakeSwap AMM has created a number of syrup pools deployed by new contracts and is discontinuing existing pools. As part of the integration of these new contracts, PancakeSwap is requiring users to re-stake their tokens.

By
Robert D. Knight
on
May 9, 2021
Category:
BSC News

New Syrup Pools

The new syrup pools on PancakeSwap are RAMP, HAKKA, pBTC, LIEN, bBadger, bDIGG, BONDLY, XED, CGG, PERL, ARPA, ODDZ, DEXE. With PancakeSwap updating the contracts anyone staking in one of these pools has been told to unstake in the “Finished” tab. Rewards from the pools will then be distributed to participants’ wallets. PancakeSwap has warned its users that collecting rewards may take up to 72 hours since rewards are not distributed automatically by this feature.

Following the initial announcement the team at PancakeSwap declared that all of the pending rewards had been distributed. PancakeSwap had to later clarify that the only rewards that had been distributed, were for people that yet to withdraw at the time of the snapshot. For that reason PancakeSwap would be conducting another distribution of rewards to include users who have been previously missed.

The rewards have since been distributed by the PCS team:



Conclusion

The matter highlights the occasional complications that occur in DeFi. The confusion has proved to be an attraction for scammers who are privately messaging users on social media. The scammers then promise to fix the issue and request the recovering seed phrase from the user. Experienced users should be savvy enough not to fall for this sort of bait, however, in case it does not go without saying; a pinned message at the top of the PancakeSwap social media states - “NEVER SHARE YOUR PRIVATE KEY OR SEED PHRASE WITH ANYONE!”


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Robert D. Knight

Robert D. Knight is an experienced journalist and copywriter who has been working in crypto for 4+ years. His bags are heavy and he also hodls some cryptocurrency.

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