Pancake Swap APR drops to 77.7%
This is the biggest drop in yield that I have seen in a long time. The Auto Cake pool just jumped from 65 million staked to 71 million staked. Manual Cake went from about 82% to 77%. As the rest of Cake gets staked, there will be lower and lower yield percentages and there will be less and less Cake. I wonder where the 6 million Cake coins came from?
Its possible that they were taken out of the Cake BNB pool. All I know is that there is a lot less Cake going around. Everyone goes crazy because a tiny percentage of Ethereum is staked. As far as I can tell almost all of Cake is staked. There isn't much left to buy. What if someone wanted to buy 10 million coins? Are they even available.
As a staker of Pancake Swap I want people to want the coin but I would also like to maintain my yield. The way it is working, I am getting about the same amount of coins each day when in theory I should be getting more and more as interest compounds. The APY going down is keeping my yield pretty constant instead of growing.
Since Pancake Swap doesn't plan to change the emission, as more and more gets Staked, the rate will continue to go down. I am not sure how low it can go but the 6 million extra Cake coins made a surprising large difference.