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PancakeSwap Launches bCAKE to Boost Liquidity Farm Yields

PancakeSwap continues to roll out fixed-term CAKE staking benefits for its users.

Introducing bCAKE

PancakeSwap remains the largest decentralized exchange(DEX) for everything Decentralized Finance (DeFi) on BNB Chain. According to DappRadar, it is indeed the largest dapp in all of crypto, with over 2 million users over the last 30 days.

Source

PancakeSwap continues to innovate and, on August 12, announced the launch of bCAKE, a protocol that increases benefits for stakers of its CAKE token.

According to the blog post, bCAKE is designed to boost CAKE farming yields from selected PancakeSwap liquidity pools. It forms a part of a series of fixed-term CAKE staking benefits that the DEX has introduced to reward CAKE holders. Currently, the bCAKE yield boost is only offered on staking of LP tokens from the CAKE/BUSD liquidity pool.

A user’s bCAKE multipliers are calculated based on:

  • the number of CAKE in fixed-term staking
  • the duration of the term
  • the number of LP tokens the user has staked in the farm.

To ensure fairness, yield calculations will also be based on:

  • the total amount of CAKE in the fixed-term CAKE staking pool
  • the average lock duration
  • the total amount of LP tokens staked in the farm.

PancakeSwap launched bCAKE following the introduction of vCAKE staking, which determines the CAKE limit of each participant in an Initial Farm Offering (IFO).

By Introducing bCAKE and its yield boost calculation method PancakeSwap aims to reward hodler of CAKE that also want to participate in AMM poos on BNB Chain’s leading DEX.

What PancakeSwap:

PancakeSwap is a Decentralized Exchange (DEX) built on BNB Chain. It offers users various features such as Liquidity Pools, Swaps, Yield Farming, Syrup Pools, Automated Market Maker, Initial Farm Offerings (IFO), NFT collectibles, an NFT profile system, a lottery and a prediction market.

Users can enhance the returns of crypto assets through yield farming. With the highest trading volumes in the market, PancakeSwap is the leading DEX on BNB Chain.

Where to find PancakeSwap:

Website | Twitter | Medium | GitHub

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