Introduction
Lending PancakeSwap can be a great option for those who want to hold CAKE but earn yield. The steps can be a little daunting, especially the first time you do them. That’s why we’ve put this guide together for you.
Step-by-Step Guide
1. Obtain PancakeSwap (CAKE) Tokens
In order to lend PancakeSwap, you need to have it. To obtain PancakeSwap, you’ll need to purchase it. You can choose from these popular exchanges.
See all 15 pricesPlatform Coin Price Nexo PancakeSwap (CAKE) 1.79 Bitpanda PancakeSwap (CAKE) 1.79 Uphold PancakeSwap (CAKE) 1.78 Binance PancakeSwap (CAKE) 1.81 BTSE PancakeSwap (CAKE) 1.84 BingX PancakeSwap (CAKE) 1.81 2. Choose a PancakeSwap Lender
Once you have CAKE, you’ll need to choose a PancakeSwap lending platform to lend your tokens. You can see some options here.
Platform Coin Interest rate Aave PancakeSwap (CAKE) Up to 0.11 APY 3. Lend Your PancakeSwap
Once you’ve chosen a platform to lending your PancakeSwap, transfer your PancakeSwap into your wallet in the lending platform. Once it’s deposited, it will start earning interest. Some platforms pay interest daily, while others are weekly, or monthly.
4. Earn Interest
Now all you need to do is sit back while your crypto earns interest. The more you deposit, the more interest you can earn. Try to make sure your lending platform pays compounding interest to maximise your returns.
What to be Aware of
Lending your crypto can be risky. Make sure you do your research before depositing your crypto. Don’t lend more than you’re willing to lose. Check their lending practices, reviews, and how they secure your cryptocurrency.
Latest Movements
PancakeSwap (CAKE) is currently priced at $4.00 with a 24-hour trading volume of $53.91M. The market cap of PancakeSwap stands at $493.29M, with $276.28M CAKE in circulation. For those looking to buy or trade PancakeSwap, Aave offers avenues to do so securely and efficiently}
- Market cap
- $493.29M
- 24h volume
- $53.91M
- Circulating supply
- $276.28M