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Title: You guys think pancakeswap messed up this time? Post by: meanwords on April 27, 2022, 10:58:19 AM Pancakeswap recently rolled out a new update that replaced their old staking design.
The old staking design was these 2: Option 1: Auto compounding cake staking - 60% APY Option 2: Manual Harvest cake staking - 48% APR or 60+% APY You can unstake them both anytime you want and you can do both. For the new design, you also have two options: Flexible staking - which is Auto Compounding, unstake anytime - 10% APY (as of today) Fixed Staking - Pick how many weeks you are going to stake, Auto Compounding - 20+% APY up to 220+% APY depending on how many weeks you are going to stake. Max 52 weeks or 1 year. The lesser the weeks, the lesser the rewards. You can't unstake no matter what until the timer runs out. You can only pick one of the two. If you pick fixed staking, you can't do flexible staking anymore until the timer runs out. If you pick flexible, you can't do fixed staking unless you unstake your flexible. A lot of people don't like this, myself included. I don't like how I won't have any control of my coins for a period of time. I don't like how my rewards are compounded instead of harvested. I don't like how it is Waaaaaaay less APY than the old design. It's also more complicated because before, you only have to stake it and wait for it to compound and you can unstake it anytime you want with a juicy APR. Now, you are forced to make a strategy which date you'd like to get your reward with a significantly less reward than the old design. Sold all my cakes and bought Biswap. Auto stake it for 56+% APY and just forget it. I kinda feel like pancake swap removed the only feature people wanted from them. I know it's for controlling inflation, however, I feel like they did it in a bad way. What are your thoughts on this? Title: Re: You guys think pancakeswap messed up this time? Post by: meanwords on April 27, 2022, 11:15:37 AM It just mean that Pancakeswap liquidity is already depleting most probably due to competition of other AMM exchange. This is the right thing to do if you don’t have funds anymore to continuously pay stakers with there passive. This will not gonna kill PCS because they are already established and the number one AMM exchange in BSC. Maybe you are just frustrated in the decreased of the reward. Moving in Biswap is a smart move if you are chasing high APR. I don't think it's matter of liquidity. I think what they are trying to prevent is overinflation. Their liquidity isn't really changing much in 3 months but their token supply keeps increasing without a sign of deflation anytime soon with the old design. It's not that I'm frustrated, I'm just shocked. I woke up one day and the old design was gone, replaced with a new design that isn't really appealing to me anymore. The crypto world is changing so fast that locking your money with bad APY is just bad design, at least in my opinion. Their flexible is so bad that even staking in Binance yields more than the platform itself. Title: Re: You guys think pancakeswap messed up this time? Post by: el kaka22 on April 29, 2022, 08:12:35 PM When you change some things in these tyep of places, it does return to be a bad decision most of the time because people like to just hold things, for the long term and if you disrupt them then there is nothing that you could convince 100% of the people to come back and be happy as they used to be.
I know not many people may realize this, but there is a huge huge huge part of the crypto world that just buys, and holds for as long as possible and changing things, even for the better if you think so, will not end up with something that will result with a good return because people who do not want to be disturbed will have to do something and some of them may leave. Title: Re: You guys think pancakeswap messed up this time? Post by: Yogee on April 29, 2022, 10:40:31 PM You come accross as an investor that doesn't really care what happens to the platform in the long-term. Not that I blame you for that as it's normal to think of profits only but try to look at why they have to make these changes in the first place. Are they not doing it so they can survive unlike those projects that started with high APRs or APYs but vanished?
Title: Re: You guys think pancakeswap messed up this time? Post by: Jaered on April 29, 2022, 11:17:19 PM Well, talking from your own perspective, it may not be a good idea. But from the Pancakeswap dev perspective, it was a good business model because it gave the token a little pump, which helped their cause
Title: Re: You guys think pancakeswap messed up this time? Post by: Captain Corporate on April 29, 2022, 11:59:13 PM I believe its fine. Everyone seems to be overreacting a bit because the APY dropped but their system wasn't the main reason why it dropped, you could actuallyu get a lot more this way if you know what you are doing and can keep in front of the PC. This only prevents people who invest and leaves and never looks back to suffer, which is bad for the long term people possibky, but if you are around and can unstake and stake again or keep on reinvesting the profits then this is a much better profit and someone who works towards that goal and does more should be earning considerably higher than what people who do not even look or check it does.
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