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As you can tell by now... I love DEXs and I am a firm believer that the more we decentralize the world the more we will rely on these AMM to empower this shift.
One of my favorite DEXs is Pancakeswap running on the BNB smart chain. Wait a minute not Uniswap? NOP.
I found out about Pancakeswap at the right time in a market where everyone was fearful and $CAKE was at an all-time low of 8$. TIME FOR INVESTIGATION! I spent 3 days investigating and looking deeper into why Pancakeswap fell so much from the ATH of around 40$.
I first saw Pancakeswap trading on BINANCE a long time ago but never gave it a look since I was not interested in DEXs and I was more of a "crypto for-profit" guy, which later I discovered that I actually really like everything about this financial innovation that I want to explore more (EVERYTHING).
So, I started to invest very little amounts in every project that I saw interesting and one of these projects was $CAKE. (leave a comment for a full series of my favorite projects weekly one by one)
$CAKE is the native token of Pancakeswap, it offers incredible returns on farming pairs running on BNB smart chain (CAKE/BNB and many others), insane staking pools rewards, and everything you would expect from a DEX. Some fun activities like Trading competition or price prediction for BNB and lottery. Last but not least a full-on NFT marketplace!
I am sure you are all here not to hear about what the DEX does but what $CAKE will take off?
First of all, Pancakeswap is running partnerships with Binance and app integration.
Second another partnership with ApolloX Finance to launch PERPETUALS! Yes, futures are coming on Pancakeswap... they're there already!!! You can now trade perpetuals with a discount on maker and taker fees using $CAKE!
Last but not least is the growing popularity of the BNB smart chain. This is a key factor since a lot of projects are being developed on the binance chain and are very promising. Guess what all their operational liquidity pool are on Pancakeswap!
So initially the more liquidity needed for a project using a pool of $CAKE will allow the whole platform to benefit from new fresh liquidity bumping up the price.
Talking about price, since I bought $CAKE at 3 levels of 10$, 8$, and 6$ I am already up on the investment plus I am staking all my $CAKE in a syrup pool with automatic restaking! This allows me to get a return of 56-64% APY, kill volatility and make twice as much money in a bull market.
If you want the exact tutorial on how to earn that juicy 60% return on your cake leave a comment down below and I will write a companion article with step by step method! OR follow me on TikTok, Instagram, and Twitter and I will do a full video on that topic!
I hope you liked this article and it is in no way financial advice or paid promotion with Pancakeswap, this is my research and my investment strategy to earn some passive income using a DEX on BNB smartchain.
Your follows and comments mean a lot to me so I can keep posting quality articles like these ones and share more incredible strategies.
Have a profitable week, and trade like a boss!
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