CAKE

anton_was_taken

What are your thoughts on CAKE and the new supply cap at 750M?

cryotosensei

So that you will be pleasantly surprised when you finally see a flood of messages shouting *HAPPY CAKE DAY*!

the_far_yard

It makes me wonder how CAKE would be sustainable given the syrup pool's return to be above 100% most of the time.

ImNoRatAndYouKnowIt

It’s accomplished via inflating the CAKE supply. So it’s not concerning the way 20% on a stablecoin is, but it will keep lowering CAKE’s value if demand doesn’t keep up, which it hasn’t been.

apstl88

I don't have any plans to sell my stuff. We have a pretty much similar approach. I'm also DCA and trying to increase my positions on BTC and DOT. Sometimes I'm getting ETH as well. I'm using some DeFi platforms like Kalmar where I'm lending my BUSD and BNB, the APYs are dynamic but they are more than decent if you get the average out of it. Planning to get into the CAKE/BNB farming. I'm keeping an eye on Polkadot parachains as well, mostly on Unique Network because I believe that they can reshape the NFT space in the near future. I also have my USDC staked on YieldApp. I use most of my passive income rewards to buy more stuff when the market is down. It feels like a good way to do it and it makes me sleep much better at night.

the_far_yard

Is CAKE still valid these days? Curious if I should finally try something with Syrup Pool.

the_far_yard

Out of curiosity, is CAKE and syrup pool still a legit thing to do these days? Been out of the loop for a while.

CookieDelivery

The staking APY might be high, but most of that is inflation, so it'll drive the price down. CAKE has already dropped a lot more in price than most other altcoins. So don't get CAKE just to stake.

Shaz170

I use it and you can buy quality crypto there but it's also the way people buy piles of shit. Sonicobama anyone? I used this as a gambling site essentially and from a few hundred quid now have about £1.95. Their native currency CAKE is interesting. Can be staked for huge Apr if you commit long term. But the value of it has fallen. If the exchange survives it'll go up again though. As ever, don't over invest.

Winter-Elderberry657

I admit that I do not understand how the use-case of one DEXchain makes it better than the others. Like why Algo, and not KDA, FTM, ONE, CAKE, SOLO, etc... I understand why NFT games are profitable because they burn the token to make new NFTs for trade and gameplay. The competitive player base fuels the token's growth, allowing the devs to add more features. On a DEXchain token, I can only profit from speculation because my staked token drops on some whale's whim, that 7% APY means jackshit.

AncestralMano

With new tokenomics and proposed max supply cap which passed, I am into CAKE these days… most used DEX on Smart Chain…

bananapeels1307

Any high yield farm coins like CAKE, etc etc copy paste of the same UI of another defi website

circleuranus

CAKE seems to be struggling. It's a solution looking for a problem. Any token that exists for its own sake seems doomed eventually. Research a project to find out what problem it solves and who needs that solution. VeChain for example provides real world utility for supply chain logistic tracking....but who actually needs it outside of their own internal solutions? Convincing companies to abandon their internal systems is akin to pulling teeth. Even if the new solution is "better". Ethereums EVM is insanely popular but suffers from inflationary cost of use as more and more devs throw DaPPS on the chain or utilize ETH for transactions...slow and expensive, but still popular. The majority of Crypto seems to be solutions looking for a problem. I tend to stick to the projects that have potential for future use case and solve problems intrinsically.

btc-smile

If you know about market cap then you must also understand inflation and total supply and their relationship to market cap. CAKE is constantly printing insane amounts of the token every day and there is no maximum supply, meaning price is always dropping even if market cap is not. Never buy the farm token - it's only use is to be given away as a free reward and sell it as soon as you receive it. Everyone has to learn this lesson the hard way in DeFi eventually. You will too at some point with CAKE.

btc-smile

CAKE has dropped from $20 to $4 in the last year so that APY doesn't really mean anything

Kargnaras

Imagine you have 10 cakes, and you cant make more. You sell each cake for 10 dollars. People buy the cake and, because you can’t make more they don’t eat it right away. After, lets say, a year some people that have these cakes took some bites out of them, this will keep happening as long as there is cake so the amount of cake keeps decreasing. This symbolises people forgetting their keys. No matter how many slices you cut these cakes into, the amount of cake does not change. There will always be AT MOST 10 whole cakes. With time this amount can only stay the same or go down, but because some people sometimes take bites out of them and eat them it is likely that the supply of cake will become smaller and smaller. You can have 100 little slices of cake instead of one big one but that doesn’t change the fact that it is the same amount of cake at the end of the day. The smaller you make the slice the less it will be worth because it is, obligatory, LESS CAKE

Lasatra_

Not doubting tbh because we still have CAKE for example but you never know.

FanNo62

it would be good, because my portfolio is completely ready, by the way I bought the bottom on CAKE and ETH, but part of ETH will go to buy NFT from AngelBlock I really hope that was the bottom, and soon another bullrun will start, I am already choosing my lamb

Dantrol

On Binance CAKE has 79% APY, AXS 120%, BSW 100% There are still many tokens which have more than 20% APY. Its not just LUNA.

NoPerspective3234

CRO, CAKE and LUNA investors learned this the hard way. Plus countless others.

godhimself2

New play. Wait for CAKE to drop more and then do a 52 week lock for over 100% apy

torontoglutton

CAKE lol

Pandelein

Not me! I just put in what I can spare. I’m regarding this as a great filtering, and I’m only invested in solid projects. (‘Cept all that CAKE I locked up for a year lol, just gonna have to wait and see what happens there.)

AncestralMano

Maybe it sounds stupid, but I think CAKE, Pancakeswap is most known DEX for Binance Smart Chain, and shitcoins will always be made…

BerthjeTTV

Ofcourse CAKE, can´t see that one going wrong when the market recovers.

beklog

My alts: ADA DOT MATIC CAKE ALGO

mensageirodaluz

I'm on CAKE

pukem0n

I believe in CAKE. The Cake is not a lie.

Chooky47

Crypto can’t do me like this on my CAKE DAY!?

I_Hate_Geese420

I'm sad i'm a Alt maximalist now, but only holding BTC and Eth would've been only slightly better than i'm now. I hope i chose right by not investing in 'shitty' projects, but projects like ALGO, VET, MATIC, CAKE and LRC. Hindsight is also a bitch these times. But remember: it's only money guys, a number on a screen... even though it sucks to see that number go down, there is more to life!

Ermingardia

Besides those two: AVAX, SOL, ADA, CAKE, VET, BNB, and AXS. In my case I might have diversified a little too much.

wattumofficial

That was not the time to do UST/mNFLX LP to get CAKE...

AncestralMano

Buy CAKE, stake it on fixed term, lock it for 52 weeks and let it auto compound and reap rewards later, also you can’t panic sell when you lock it. Easy.

OtisMiller

That CAKE part... I felt that

Shaz170

Firstly, nobody is going to beat ICP. But I'll try. I entered the shitcoin lottery. Superdoge and that harrypottersonicobama whatever it was left me with nothing. I bought eth classic - not because I believe in it (I'm not that stupid! Contrary to what my previous paragraph suggests), but because I thought it would rise with eth as people with no knowledge tend to buy it as cheap version. Anyway, that's almost worthless now. Next I was clever. Buy something you can stake. 67% apr on CAKE? I'm in. Oh, that's now worth about a quarter or less than I paid. Moral of the story for me? Buy BTC, hodl BTC, have patience.

Neitherside

Allow me to introduce you to top43 coin CAKE lol (its inflation rate is around 56% if I'm not mistaken). But you're right, demand is the main factor.

GreenStretch

Mmmm . . . CAKE! https://coinmarketcap.com/currencies/pancakeswap/

BigLewis1

I need a new project to start staking in. I was doing CDC and CAKE, but both have recently made big changes so I'm wanting to mix things up. Any recs?

Bundabar

Everybody is hating on Binance and I've been sitting over here making literally 10s of thousands by staking CAKE at \~55%APY for months.

joannew99

Alternatively: You can use Moonpay/Simplex and deposit to a BSC Wallet directly. I either buy using the above method (but the fees over the past year have gotten uncomfortable for my liking), or I'd transfer my ETH to Binance. Sell on Binance. Buy BNB. Transfer BNB to BSC wallet. Then swap on PCS for CAKE

Brave_kitten

I think this is quite possible. Many will leave. But some will remain, so to speak, the most resilient and powerful. By the way, the death of tokens comes for a variety of reasons: hacks, scam schemes on the part of the creators, pyramids, not collecting a capa or loss of interest from the creators of the project. And one of the most common reasons is a lack of liquidity and a drop in trading volumes on exchanges to zero. You do not have to go far for examples of such cryptocurrencies. But I still hope, I really hope, that among my favorite crypto projects are some of them, especially DESU, GTM, FTX, CAKE

Puzzleheaded-Dog2127

I opned my moon vault in November and it hasnt changed even since then. Just CAKE, though i contribute in many other crypto subs.

Pandelein

CAKE has a fun 5 minute version. It’s just betting higher or lower on the price of BNB in the next 5 mins. The odds shift a bit, I’ve had wins from 1.3x to 4x, the average payout is like 1.98x. Nothing special but a fun little prediction game/time killer when you feel like staring at some charts.

jawni

I don't think he ever did. He tweeted about the actual dog twice. One was about Tesla FSD recognizing dogs(he also mentions Dogecoin) and the other was him saying he was going to name his Shiba Inu "Floki". The fact that these are the closest thing to him "pumping" SHIB just shows that anything he tweets can be twisted into anything because people will just attach their own meaning. He could tweet that he had pancakes for breakfast and if CAKE pumped then he'd blamed for it.

Noarchsf

Nah, I got into Pancake Swap right before CAKE crashed, Same with VVS over on CDC. Now OSMO seems to be sh*tting the bed.

moretaszz

CAKE is a good one, I do stake on pancakeswap, its also good to see someone talking about TXA, apart from their hDEX model, their staking event is already live, which I'm participating in and TXAD which is their governance token will be rewarded to holders, which is the voting right of holders in their ecosystem

vresovkamfh

Undoubtedly BTC and ETH remain the safest bet but there are options for maximizing opportunities with potential projects, I looked out for a couple of more projects but DOT, TXA, and CAKE have my bet; specifically, these projects have their respective utilities, TXA has its hybrid dex it's pushing for which is set to change the face of crypto exchange platforms while DOT has its major role inweb3 with all of the parachain thing.

anonymouscitizen2

Yeah, and CAKE itself is a Uniswap V2 direct rip. BSC is not the place where legitimate projects go to plant their roots

KingVandalo

So now the Auto CAKE Pool has become the “Flexible” Pool and they’re currently paying 12% APY. In order to get higher APY you need to lock it, from 1 to 52 weeks. People complained about CAKE being inflationary but now they complain about low APY. You can’t have it all.

KarateHobo

I thought CAKE was pretty inflationary. Not sure if that has changed. But the APY would definitely need to compensate the continued drop in token value and then some. I haven't looked into the new locked staking, but that is my first thought about staking CAKE in general

Trans-on-trans

CAKE is literally the only crypto I know that successfully migrated out of Binance Smart Chain. That's not saying much either.

BigLewis1

I just locked my CAKE in for a year so literally nothing I can do. Forced staking terms relieve a lot of stress imho

fyriskipivp

My money is on Bitcoin, Ethereum (the safe bets), as well as CAKE and AXL. I just have a feeling about them, they both have a lot of potential.

CartographerWorth649

There were so many tumbles from little coins like Quartz which due to low volume is quite volatile and it’s under 2 cents now to bigger ones like Filecoin which had an absurd drop… 70% I’d say! Most of DEX coins like UNI, SUSHI and CAKE had been smashed! On the strength side, besides the usuals suspects, I have been impressed with BNBs performance

elumeus

Don’t forget to migrate your CAKE

nachgehenot

WAVES & CAKE has been losing value, I think more drop is incoming. One can't deny the devastation that comes with the emotions to such holders, well i had to sell at a massive loss and accept reality, I now use upbots to trade, so far have made significant profits over the past few weeks using the bots

Bucksaway03

APE the paid shill here CAKE the author owns

Jxntb733

CAKE? 🍰

elysiansaurus

LRC and CAKE for me, both down about 50%. they are down more, but that's how much they down since I bought.

meeleen223

Bakery Token. It's a defi platform that came to spotlight after CAKE, and an nft marketplace and it was hot during defi season a year ago

Iconoclast301

MMF on Cronos CAKE on BSC

chedebarna

Get rid of CAKE and SHIB. Keep the ADA and the LUNA.

tobypassquarant

So you actually legitimately believe CAKE will return to $40? Or even $20?

superboget

I would get rid of CAKE and keep the rest. CAKE offers high interest because it is extremely inflationary, you're not actually making money as the value of CAKE drops faster than you are accruing interest.

bignattyd4ddy

Pancake swap gives something like 70% APY for holding CAKE

therealdivs1210

I had known about Bitcoin but didn't really understand anything about it. In Jan 2021 I saw it on the news everywhere that it was shooting up. This time, I joined the bitcoin sub and started reading up about its history and watching related documentaries and videos ([Hidden Secrets of Money](https://www.youtube.com/watch?v=DyV0OfU3-FU&list=PLE88E9ICdiphYjJkeeLL2O09eJoC8r7Dc&index=1) being my favorite). I figured we were still in the early stages of a bull run, so I dropped some money into it, and watched it grow! I didn't look into alts since I was hanging out with BTC maxis, but later I realized I should explore more and landed on this sub. That's when I started reading about Web3 and DeFi, and I was HOOKED! Somehow, I was still wary of using it, though I did muck around. I slowly started exploring DeFi AMMs, money markets, etc. in September I think. Started out with the Algorand + TinyMan. Then went onto BSC chasing some shitcoin, but ended up joining a stablecoin LP on PancakeSwap instead. While farming on PCS, I wondered if a bot could claim and compound the CAKE rewards for me, and hence discovered Beefy Finance. Now I mostly hold BTC, some BIFI, and am in a couple of LP farms on different chains using Beefy Finance.

archer4364

Whenever I hear CAKE I think about that post where some guy let his 3 kids pick 3 cryptos each to invest in, and one picked CAKE… because turns out kids like cake I guess. Wonder what happened to that guy

davidc287

I still haven't harvested my CAKE rewards after the market went downhill for the past few months. I thought BSC network fees were not that expensive. Do you mean when buying huge portions?

cryotosensei

I know Pancake Swap but didn’t know its in-house coin is CAKE. Thanks for the thorough reply!

cryotosensei

I have never heard of CAKE until now. My bad. What’s its use case?

FiestyParfait

None that I'm embarrassed of, I sold those. But if I had to pick one that I can't believe I held it's probably CAKE, because I had it staking.

outofworkslob

I've been in CAKE since jan 2021. Keep staking mate, it really works

XiGR33NYiX

Although I’ve taken a pretty hefty L on my CAKE so far. The rewards I’ve got from staking it are ridiculous. It can’t be a sustainable system but I just want to stay in to the right price

jmlawrance91

ANJI It has a DEX where the fees are 50% cheaper than the other more popular ones (CAKE, UNI etc) You literally pay 50% less fees when using ANJI. Holders of ANJI also receive rewards for holding via a % of the small transaction fees. It only has a 2 million MC and they haven’t done any marketing yet, with the swap only coming out of beta a few days ago.

Hancgfv

People want to have their $CAKE and eat it too

memesdoge

everyone wants to eat their $CAKE and have it at the same time

cashflowkirk

I'm a big fan of CAKE at these levels. This is the native token for Pancakeswap which is the largest decentralized exchange on Binances blockchain. Trading around $7-8 a token currently. Has traded at the $20-40 level all based on demand for their platform and liquidity pools.

Iconoclast301

CAKE on Pancakeswap. APR currently at 62%.

circleuranus

BTC, ETH, ADA, Radix, Harmony One, CKB, XRP, CAKE Every token I own is either being staked or lended.

Maswasnos

Can you calculate it based on the value of the assets you put in at the time? Like if you contributed 1 CAKE and 1 BNB and received 1 LP token in return, the value of that LP token is just the value of 1 CAKE + 1 BNB at that time. Same as if you withdrew. Otherwise, just make your best guess. Chances are if you put this much effort into it and didn't get a firm answer, the IRS isn't going to be able to tell you otherwise. Give it your best shot.

apstl88

Like OP said if there is more utility then it doesn't have to mean it's a shitcoin. You took CAKE for example and I can take KALM. They have a burning mechanism but that's far from what's it all about. With their DeFi options, there is a way to make a decent passive income. I don't think that we need to elaborate on CAKE at all.

PepitoMagiko

Noodles are so gooood. Like CAKE and VET

Midlux

Positions from biggest to smallest: BTC CAKE Safemoon...

Iconoclast301

Hoping CAKE drops so I can justify buying more.

AAFur

Bullish on CAKE

Asher_TC

Yes I'm only staking no LP I use keplr for all cosmos tokens Bancor for OCEAN Apeswap and Pancakswap for BSC where I stake CAKE and BANANA and earn different tokens

friedchickenshit

I am heavily into ETH, BTC, and DOT. Also have some in KSM, XMR, and CAKE because old me thought 200% APY go brrr (it didn't).