Need a second opinion on the new CAKE staking system

[diffract]

So pancake swap recently slashed the staking APY heavily for the CAKE token (12% down from around 70%).
That's unless you choose their locked staking option. You can choose your lock-up period and the maximum is 1 year, where you'll be given 230% APY. This is an attractive offer but I'm not sure whether CAKE will hold its value one year from now. Traditionally, the BNB chain was the only option if one wants to interact with smart contracts but not have to pay Eth's transaction fees. But now there are many competing layer 1's.
What do you guys think?

[asriloni]

that's not a big problem since you have so many places to get better APY rather than cake. if the APY get slashed so hard it's caused by so many people are only trying to earn and then dumping their cake to the market. that's why cake was changing its system to be a long term staking that can hold the value for cake to go up. You must also aware if we are also in the bearish market. Long term staking looks very attractive rather than doing short term staking while at the same time we are also waiting for another bullish trend to come soon.
I do believe cake can hold its value for long term. This mechanism is good enough

[Hypnosis00]

So pancake swap recently slashed the staking APY heavily for the CAKE token (12% down from around 70%).
That's unless you choose their locked staking option. You can choose your lock-up period and the maximum is 1 year, where you'll be given 230% APY. This is an attractive offer but I'm not sure whether CAKE will hold its value one year from now. Traditionally, the BNB chain was the only option if one wants to interact with smart contracts but not have to pay Eth's transaction fees. But now there are many competing layer 1's.
What do you guys think?

Though the offer is very attractive and apparently tempting, I suggest for you OP think which one is safe. If you can't afford to hold or stake longer like a year, please don't do that. I'm not sure nor we can assure that the CAKE token is way good-looking and promising that staking long-term will give us a profit. We can't just neglect the possibility that it may down badly making our investment gone all of the sudden. I think it was not because of the huge offer and rewards when staking, we should have to think about the safety assurance of our investment that we never cry in vain on the latter.

[lionheart78]

I am sure the APY adjustment is for the benefit of the CAKE ecosystem.  I don't find it disturbing if it will help CAKE  to build a stronger economic foundation.  As for the lock staking, it is both pros and cons.  OP, you worry about the price crashing if you lock your stake for 1 year, what about if the price surge after a year of locking your stake? Just weigh it out OP, which investment system suits you.  If you think both are unfair then just let go and look for another venture.

[diffract]

My worry is the BSC ecosystem could fall down in popularity due to the layer1 competition. I have a good chunk of CAKE and I'm trying to figure out what best to do with it.

[tazmantasik]

So pancake swap recently slashed the staking APY heavily for the CAKE token (12% down from around 70%).
That's unless you choose their locked staking option. You can choose your lock-up period and the maximum is 1 year, where you'll be given 230% APY. This is an attractive offer but I'm not sure whether CAKE will hold its value one year from now. Traditionally, the BNB chain was the only option if one wants to interact with smart contracts but not have to pay Eth's transaction fees. But now there are many competing layer 1's.
What do you guys think?

Better moving and out from CAKE coins taking after down APY reward from 70% become 12% and price not stable, last days drop drastically from $8 and now almost $7.4. Bad thing with Cake coins almost reach $40 all time high price and right now drop drastically and not interested again for staking on this coin. I think have enough you can removed your staking or farming on Cake coin before price dump again and loss much with Cake coin staking or farming.

[Psynthax]

My worry is the BSC ecosystem could fall down in popularity due to the layer1 competition. I have a good chunk of CAKE and I'm trying to figure out what best to do with it.

Just wanna try to remind you that as long as binance will always become the biggest exchange site in the world and BSC ecosystem will always exist like this time. The popularity of BSC came from the binance exchange site as the biggest exchange site in the world. That means if binance will not die and BSC ecosystem will remain the same. You can do anything with your cake but i think that layer 1 competition was not so strict. Remember that if BSC was second layer blockchain.
It has first layer called binance native chain.

[fortuner]

My worry is the BSC ecosystem could fall down in popularity due to the layer1 competition. I have a good chunk of CAKE and I'm trying to figure out what best to do with it.

Just wanna try to remind you that as long as binance will always become the biggest exchange site in the world and BSC ecosystem will always exist like this time. The popularity of BSC came from the binance exchange site as the biggest exchange site in the world. That means if binance will not die and BSC ecosystem will remain the same. You can do anything with your cake but i think that layer 1 competition was not so strict. Remember that if BSC was second layer blockchain.
It has first layer called binance native chain.

Even though the BSC Blockchain is not the first layer, we also don't need to worry because BSC is dependent on Binance.
So as long as Binance is alive, everything will continue to be safe.
It seems that her worry about her CAKE is too much maybe.

[bitkanu]

BSC has nothing to do with the first layer blockchain. First and second layer blockchains have the same purpose to be alternative blockchain for non scalable blockchain like ethereum. You must know the main purpose of first and second layer blockchain.
For the main question as long as you can still earn good APY and why not? cake was not the only choice. If you are thinking that doesn't look good and you can move to the another dapps and we have so many blockchains that have fully developed dapps like solana, avalanche, polygon and many more. I think that there are bunch of reliable defi with good liquidity on those blockchains. don't worry about that mate.

[babygun]

My worry is the BSC ecosystem could fall down in popularity due to the layer1 competition. I have a good chunk of CAKE and I'm trying to figure out what best to do with it.

Why would the BSC ecosystem shut down because of a drop in popularity? I don't think there is any risk of it falling down. At what price did you bought CAKE? If you are heavily in profit, I would sell 50% of it or more (just take some profit) and with the rest you can just play. If you are in loss and you don't believe in the project anymore, I would also sell them and take your loss.

[Republikcoin.com]

Even though the BSC Blockchain is not the first layer, we also don't need to worry because BSC is dependent on Binance.
So as long as Binance is alive, everything will continue to be safe.
It seems that her worry about her CAKE is too much maybe.

Actually, it's not an exaggeration either because every concern has absolute reasons and as long as the Pancakeswap is still operating very well, the potential for CAKE will always be there. Because the increase in price and volume always depends on how the market conditions go and also on how investors enter CAKE.

[lobo13hf]

Pretty the same like cake was forcing its farmers to do a long term staking that will decrease the inflation for the cake token. This is good for the token but not for the short term farmers who can take their tokens anytime from the liquidity pool.
I do know how do you feel caused by that but cake team was taking it as their best decision to make the platform can sustain for the long term. When more farmers gone to the long term and this will make cake will be less dumped by those farmers.
I can only support what already decided by cake team but did you think binance can collapse easily? this exchange site was even making huge domination.

[Oilacris]

Even though the BSC Blockchain is not the first layer, we also don't need to worry because BSC is dependent on Binance.
So as long as Binance is alive, everything will continue to be safe.
It seems that her worry about her CAKE is too much maybe.

Actually, it's not an exaggeration either because every concern has absolute reasons and as long as the Pancakeswap is still operating very well, the potential for CAKE will always be there. Because the increase in price and volume always depends on how the market conditions go and also on how investors enter CAKE.

Everything that do talks  about value and potential will always be depending on the demand and recognition because this would be the primary factor on which you would really be checking
out whether a particular project would really last up for a while and not just been rising up because of pure hype.Majority of people do knows about CAKE
and its true that as long Pancakeswap is still running then its really hard to believe that it would plummet its price into the floor.

[livingfree]

Same thoughts as you OP.

I wouldn't choose the locked option because you'll never know what may happen. You might miss the train if the price of cake goes on high. Just always choose the flexi term so that you can sell whenever you want to sell.

Well, it's their attraction when they decrease the rate so that people that are into it will be forced to choose the locked type but it's okay if the drop is just 12%. The rate is still quite good IMO.

[lornadane]

Even though the BSC Blockchain is not the first layer, we also don't need to worry because BSC is dependent on Binance.
So as long as Binance is alive, everything will continue to be safe.
It seems that her worry about her CAKE is too much maybe.

Actually, it's not an exaggeration either because every concern has absolute reasons and as long as the Pancakeswap is still operating very well, the potential for CAKE will always be there. Because the increase in price and volume always depends on how the market conditions go and also on how investors enter CAKE.

Everything that do talks  about value and potential will always be depending on the demand and recognition because this would be the primary factor on which you would really be checking
out whether a particular project would really last up for a while and not just been rising up because of pure hype.Majority of people do knows about CAKE
and its true that as long Pancakeswap is still running then its really hard to believe that it would plummet its price into the floor.

So that's why people continue to defend CAKE because as long as Pancakeswap operates properly, CAKE will continue to live and the price will not be thrown away and fall like you said.
So I think now and in the future, it is still natural for us to maintain CAKE.

[el kaka22]

It’s cake, it’s the pancakeswap, it’s the place that is the biggest defi in all of bsc, if you do not trust them then you are making a huge mistake. The returns may not look great to you, but you should not invest and stake based on your staking income at all, you should consider it like any other token or coin. If you buy it, and the price does 2x then that is why you invested and you should be happy about it. If the staking rewards give you something in return during that period it is even better.

It is not the staking rewards that should attract you, if you are investing just for that then stay away, but if you believe the price of cake will go up, and you "might as well" stake, that’s a better approach.

[Emitdama]

You can choose the locked staking option and choose 1 year as your lock in period, that way you will still receive higher apy's. Cake seems to be a good coin and 1 year is not that long. If you are worried because there are now newer chains, well I don't think they will easily surpassed binance.

It will took them ages before that happens. If you are doubting of staking for long term, then you can always stake for shorter terms but pick another platform or coin to stake which can offer higher apy's than cake but the only downside of picking them is they can be less trusted than. You need to choose if what's more important for you. It is the reward or your safety?

[sana54210]

So pancake swap recently slashed the staking APY heavily for the CAKE token (12% down from around 70%).
That's unless you choose their locked staking option. You can choose your lock-up period and the maximum is 1 year, where you'll be given 230% APY. This is an attractive offer but I'm not sure whether CAKE will hold its value one year from now. Traditionally, the BNB chain was the only option if one wants to interact with smart contracts but not have to pay Eth's transaction fees. But now there are many competing layer 1's.
What do you guys think?

Though the offer is very attractive and apparently tempting, I suggest for you OP think which one is safe. If you can't afford to hold or stake longer like a year, please don't do that. I'm not sure nor we can assure that the CAKE token is way good-looking and promising that staking long-term will give us a profit. We can't just neglect the possibility that it may down badly making our investment gone all of the sudden. I think it was not because of the huge offer and rewards when staking, we should have to think about the safety assurance of our investment that we never cry in vain on the latter.

That is the type of problem that a common solution could fix. It is always said that "if you can't afford to invest, don't do it" for this purpose exactly. If you do not have too much money and you may need to cash out then you shouldn't pick anything like this. I personally did cashed out plenty of times, and I know the feeling and the desperation when people cash out, because I did it myself.

However, if I had a bit more money than I would have probably kept some of it in cake for sure. I still have some cake staking, but unfortunately it is ready to be cashed out at any moment because I can't afford to keep it in locked. Maybe I will try it later in my life, but not today.

[yhiaali3]

I think that cake coin can maintain its high value in the long term, I mean we will definitely see a rise in the price of cake coin once there is a rise in the market in general, we always see cake coin rise with the price of bitcoin so you have to watch the rise of bitcoin, I think pancakeswap will witness an increased demand On farming, especially since Binance fees are still low and the work environment looks very good and promising, but you have to wait and be patient.

[rhomelmabini]

So pancake swap recently slashed the staking APY heavily for the CAKE token (12% down from around 70%).
That's unless you choose their locked staking option. You can choose your lock-up period and the maximum is 1 year, where you'll be given 230% APY. This is an attractive offer but I'm not sure whether CAKE will hold its value one year from now. Traditionally, the BNB chain was the only option if one wants to interact with smart contracts but not have to pay Eth's transaction fees. But now there are many competing layer 1's.
What do you guys think?

Well, most new projects do this and more likely a norm now. To be honest, this is a subjective topic, it will depend on every individuals risk appetites if they want to hop in, of course there will always be a risk and we may never know if it will hold or not. No one can predict that. The thing is, will the APY be fixed or not? If it's not if there are lot of stakers then probably it's too risky, the APY will surely decline.