Get a sweet yield of up to 12% p.a. on CAKE with SwissBorg!
Are you hungry for CAKE? If the answer is yes, you are in luck! At SwissBorg, we've been cooking up a CAKE listing and Smart Yield wallet that will serve as an additional way of earning on crypto for our users.
Starting May 5 2022, both the listing and Smart Yield wallet will be available in the SwissBorg app, so you can start earning a yield of 12% p.a. as soon as you add CAKE to your portfolio.
Want to learn more? Then keep on reading as you can find plenty of information about the token and its Smart Yield wallet in the text below!
Branded as the "most popular decentralised platform in the galaxy", PancakeSwap is an automated market maker (AMM) that allows users to trade any token on BNB Smart Chain in seconds.
The platform also facilitates earning CAKE passively and winning prizes through the PancakeSwap Lottery, all without having to do any registration - just connecting your wallet is enough.
And although PancakeSwap takes a playful approach when it comes to its branding, it's a serious player trusted with over $6 billion in funds by millions of users. Just last month, 38 million trades were made on the platform by over 4.4 million users, according to its website.
The launch of PancakeSwap
PancakeSwap was officially launched in September 2020 by anonymous developers. Since then, it has been audited by a few prominent firms specialising in blockchain security.
The platform's website and smart contract code are also open-source, which definitely helps keep things in check.
PancakeSwap now has a team of "chefs" consisting of two co-leads and a number of engineers. This team is the one to credit for the huge growth the platform has seen in terms of liquidity, users, number of features and supported assets.
The funding of the platform is done with the help of the PancakeSwap treasury, which takes 15% of the fees generated.
How PancakeSwap works
For trades to happen on PancakeSwap, no centralised services are needed. Instead, trades are executed automatically using smart contracts, thus removing any counterparty risks.
As it is an AMM, for each trade, PancakeSwap takes liquidity from one side of the pool and adds it to the other. This, in turn, leads to a change in the relative value and weights of the pool assets.
The liquidity is provided by users who bear the "liquidity provider" title. These users receive a part of the trading fees generated by any pools they contribute to, as well as LP tokens in return. The tokens enable the liquidity providers to reclaim their share of the pool.
To access it, you only need a supported Web3 wallet.
The popularity of PancakeSwap
This platform has, without a doubt, become a phenomenon in the blockchain world, with claims of having the highest number of users among decentralised platforms.
This popularity is largely thanks to its low transaction fees, fast confirmation times, good security, and impressive range of secondary features making PancakeSwap a force to be reckoned with.
The CAKE token
CAKE, the native token of PancakeSwap, has many functions ranging from staking and yield farming to voting on governance proposals and entering the PancakeSwap Lottery.
The tokens circulating supply is 290,488,699.47 CAKE, with no data available on the maximum supply.
Earning a yield on CAKE
If you like what PancakeSwap has been doing so far and decide to invest in its CAKE token (only after doing your own research on it as well as the associated risks), the next logical step is to let your CAKE work for you.
This is made possible through yield farming, a process that SwissBorg's Smart Yield program turns into a few simple taps.
The benefits of the CAKE Smart Yield wallet
Each Smart Yield wallet released by SwissBorg was created to make earning a daily yield effortless as well as provide the following benefits:
- Your assets get invested in platforms with the lowest risk thanks to the Smart Yield strategy optimiser and its monitoring and rating of investment opportunities.
- You have access to monthly Smart Yield reports giving a transparent overview of how the Smart Yield program is performing.
- Your yield is compounded daily, resulting in a higher cumulative yield over time.
- You have no minimum investment period and are only required to make a $10 deposit.
Along with these benefits, you can receive a yield boost of 1.5X, 1.75X or 2X and discounted fees on exchanges if you sign up for one of the Premium account options offered by SwissBorg.
Activating the CAKE Smart Yield wallet
So you are ready to start earning on your CAKE? Sweet! Here are all the steps you need to take:
- Update your app to the latest version
- Deposit, buy or exchange to CAKE
- On the Portfolio screen, tap on CAKE
- Scroll down, and tap the Yield Wallet card
- Tap Top Up
- Choose how much you would like to add to your yield wallet
- Follow the prompts to start earning a daily yield!
Note that while there is no minimum investment period, redemptions are actioned every 24 hours. Once you ask to redeem funds, they will be transferred to your active account at 8 AM CET the following day.
You might also like