I'll be back with news about Pancakeswap. Those of you who are reading me will have been able to verify that I am very connected with the BSC and the DeFi and I check several times a day the operation of my investments in the pool and new opportunities.
Yesterday Pancakeswap launched the UST pool, a synthetic token that thanks to Mirror Protocol emulates the shares of the most important companies in the world.
I am not very much in favor of these tokens, likewise, the great mass of users that are coming to Pancakeswap and the good promotion they do of their trade, are greatly reducing the APY.
Recently the guys at Pancakeswap burned a good amount of Cake so its price wouldn't plummet.
Finally I opted for the Helmet.insure pool
I show you what I have earned in a staking day, I have deposited 580 Cakes that right now is around $ 1.15 in price.
Helmet's APY upon entry was around 210%. The price of this token is very volatile, in a matter of seconds I have seen it go from 0.28 dollars to 0.07. This is explained by the Swap that people do in the Exchange, as soon as they reap the profits they exchange them for Cake or WBNB driving the price down.
The decrease in APY is understandable, a lot of people are coming to the application. They will be more and more fair and will force us to deposit larger amounts of Cake to make an interesting profit.
This could invite the most greedy to invest in Pancakebunny, Jetfuel or Beefy with LP Tokens but the risk is considerable and in the case of these platforms, they are not yet audited and their security protocol is more vulnerable than that of Pancakeswap.
Posted Using LeoFinance Beta
Glad to see some BSC DeFi posts !
To be honest I didn’t try helmet I might pass on this one haha.
It’s been a while I didn’t check cake price, glad it rose that much.
Posted Using LeoFinance Beta
Looks interesting.
Posted Using LeoFinance Beta