How to pledge cake coins

By staking PancakeSwap (CAKE) tokens, users can obtain CAKE rewards and participating farm benefits, including BNB rewards.

What is Cake Staking?

Cake Staking is the process of earning rewards by holding PancakeSwap (CAKE) tokens and locking them in a smart contract.

How to stake Cake?

1. Connect Wallet: Visit the PancakeSwap website and connect your MetaMask or other compatible Web3 wallet.
2. Select the Farms tab: Select the "Farms" tab from the menu.
3. Find the CAKE-BNB pair: Find the CAKE-BNB pair in the farm list.
4. Click the "Stake" button: Click the "Stake" button next to the pair.
5. Enter the pledge amount: Enter the amount of CAKE you want to stake in the pledge window.
6. Confirm transaction: Confirm the transaction details and pay the transaction fee.

Staking Rewards

Staking Cake can get the following rewards:

• Cake Rewards: You will Receive daily CAKE rewards based on the amount of CAKE you stake and the total CAKE held in the pool.
• Farm income: You can participate in CAKE-BNB farm to get BNB rewards.

Risk

Like any cryptocurrency investment, there are certain risks associated with staking Cake:

• Price Fluctuation :The price of CAKE tokens may fluctuate, which may affect your rewards.
• Smart contract risks: The pledge contract may be defective, resulting in the loss of funds.
• Impermanent Loss: If you stake CAKE-BNB LP tokens on the farm, you may face impermanent losses.

Notes

• Staking Cake requires payment of transaction fees.
• Your CAKE will be locked in the smart contract until you retrieve it.
• It is recommended that you only pledge funds that you can afford to lose.

The above is the detailed content of How to pledge cake coins. For more information, please follow other related articles on the PHP Chinese website!