BSC Platform - CAKE, Etc. What do you think?

[LbtalkL]

Previously Farming is introduce in the Ethereum network which attracts some attention and it became popular. Due to Ethereum high gas fees. Some individual like CZ and Justin made their own chain for this kind of technology. Binance have launched their Binance Smart Chain (BSC) which attract a lot of projects and users because it is fast and low fees I guess that is natural because there are only a few users. Now Pancakeswap (CAKE) has been leading the  DEX and Farming on this platform, by the look of it,  it is looking good for me and their contract is already audited but still, this high yield farming is always risky and I don't think it will survive in the long term unless they reduce the yield slowly. What are your thoughts about it?

you can find some of BSC tokens here: https://bscscan.com/tokens-volume

[_IRMAN]

Currently there are so many yield farming platforms, I am confused about how they can provide that much ROI, where do they get the profit to be shared? or do they just play investors' money?

[livingfree]

As you have said, it wouldn't be long until it last. While the trend and hype is with it, it's your choice if you will ride the wave.

Honestly, I have never heard of this swap. Maybe it's on the BSC and that's why I rarely hear it. Unlike the popular uniswap which was built on Ethereum, it's the first to attract a lot of defi projects and investors.

[longyenthanh]

I am also wondering where do such large volumes come from. I think it's just the effect of a bear market for over two years and investors are hungry for another bubble. There will be more such services for sure, but time will verify which of them will survive. There will stay a few of the strongest for sure. However, it is not known which it will be. I think it's always worth a try. Maybe they will make it, but I think the chances are slim.

[Jating]

I am also wondering where do such large volumes come from. I think it's just the effect of a bear market for over two years and investors are hungry for another bubble. There will be more such services for sure, but time will verify which of them will survive. There will stay a few of the strongest for sure. However, it is not known which it will be. I think it's always worth a try. Maybe they will make it, but I think the chances are slim.

If I'm not mistaken, the volume comes from Binance themselves as they control the majority around 70% of it. So it's very centralised to say the least.

Here are the graphs: https://bscscan.com/token/tokenholderchart/0xbb4CdB9CBd36B01bD1cBaEBF2De08d9173bc095c

[longyenthanh]

I am also wondering where do such large volumes come from. I think it's just the effect of a bear market for over two years and investors are hungry for another bubble. There will be more such services for sure, but time will verify which of them will survive. There will stay a few of the strongest for sure. However, it is not known which it will be. I think it's always worth a try. Maybe they will make it, but I think the chances are slim.

If I'm not mistaken, the volume comes from Binance themselves as they control the majority around 70% of it. So it's very centralised to say the least.

Here are the graphs: https://bscscan.com/token/tokenholderchart/0xbb4CdB9CBd36B01bD1cBaEBF2De08d9173bc095c

That explains a lot!

Since Binance has such a large part in it, I think we can expect a big pump on the price. I only wonder when this will happen.. 
I think that even if the project fails in the long term, it is an interesting option to speculate.
It is very likely that I will find some place in my investment basket

[nelson4lov]

Pancakes is one the very few projects on Binance chain that caught my attention. I have known about them since their launch announcement in late September. Like other users, I was skeptical of the project as it was still an infant stages and their smart contract wasn't audited at the time. So what I did was to test it out with a few dollars and it performed beyond my expectations as the project got more traction as time went on.

I recently heard that they'll get around $10M liquidity funding support from binance from their swap technology.

[TastyChillySauce00]

Currently there are so many yield farming platforms, I am confused about how they can provide that much ROI, where do they get the profit to be shared? or do they just play investors' money?

They were allocating some tokens from the total tokens to be used to provide the reward for the yield farming program. Just take a look at sushi or another yield farming project and you will see these projects never generated any profits from its services but it has used the tokens from its tokenomic to put it into the yield farming program. You will just get the token from farming it.

IMO this scheme was totally a scam scheme. It will always make the price will be dumped so hard.

[puremage111]

I think the current DEFI for most is that 90% of it are the same
I am not sure If CAKE on BSC is the same as CAKE Defi

But definitely some of them will survive if they are innovative and could capture users
Else everything is just copy paste and see who offer the best

[longyenthanh]

I think the current DEFI for most is that 90% of it are the same
I am not sure If CAKE on BSC is the same as CAKE Defi

But definitely some of them will survive if they are innovative and could capture users
Else everything is just copy paste and see who offer the best

It was the same with the ICO. Certainly there are those who create projects only to raise money and lose it because of bad decisions. However, there will be room for interesting and well-managed projects on the market. Time will tell if Pancakeswap is one or the other.
In my opinion, knowing that Binance has invested in this project gives it a good chance of success. If Binance supports them with money and experience in management, they will surely become the favorites on the market.

[Cloverfield]

So I use Uniswap a lot lately, but now I’ve noticed Pancakeswap. What’s the difference and what benefits me as a retail investor the most. I know there is Sushiswap as wel, but somehow it all looks like a meme as DOGE does. Uniswap had a unicorn 🦄 as a logo. Then you have sushi and pancakes? Like come on, really? I don’t really know what to think about these projects. But already a huge marketcap and steady in the top 100 of all coins and tokens out there. But what is their utility on their platform? Because fees are paid (with Uniswap at least) in ETH and the token you swap with..

[LGD2Business]

It's crazy I don't see any CAKE threads here, I can only find this one. Why don't anybody talk CAKE here, they are talking CAKE everywhere else.

I hope people don't miss out this coin. BSC platform is going to takeover soon.

[livingfree]

It's crazy I don't see any CAKE threads here, I can only find this one. Why don't anybody talk CAKE here, they are talking CAKE everywhere else.

I hope people don't miss out this coin. BSC platform is going to takeover soon.

Yeah, since last year I don't even think that it would be that huge as it is today. But that's Binance's BSC for us and it keeps rocking. It's now going to be all over the news to be the first BSC project that have made $1B.

Congratulations to those believers of the project, you've made it and well done.

https://twitter.com/cz_binance/status/1362055342171901957