PancakeSwap Adds mAsset Trading and Farms in Collaboration with Mirror Protocol — Stake CAKE, Earn UST
CAKE holders, today we are super happy to offer you a brand new offering from one of the most innovative teams in the crypto space, Mirror Protocol! In addition to being able to stake CAKE to earn TerraUSD (UST), you will be able to trade synthetic versions of traditional stock giants Amazon, Google, Netflix and Tesla thanks to Mirror’s mAssets!
The Syrup Pool:
Stake CAKE tokens, to earn UST tokens!
Total Tokens: 150,000 UST
Distribution duration: 45 days
Start block: 4293992 (Jan 25th 4PM SGT)
Finish block: 5589992 (Mar 11th 4PM SGT)
Token rewards per block: 0.1157 UST
In order to host the UST Syrup Pool, we will need to provide a handful of mAsset farms, that will allow PancakeSwap users and the wider BSC economy to both stake and trade tokens representing Tesla, Amazon, Netflix and Google!
Farm 1 = mAMZN-UST @ 0.3x CAKE rewards
Farm 2 = mNFLX-UST @ 0.3x CAKE rewards
Farm 3 = mTSLA-UST @ 0.3x CAKE rewards
Farm 4 = mGOOGL-UST @ 0.3x CAKE rewards
Farm 5 = UST-BUSD @ 0.5x CAKE rewards
As usual, it needs to be approved via a vote.
Why do we need a vote? Since it dilutes rewards, the chefs want BSC’s greatest community to make the decision themselves.
What is Mirror Protocol?
Mirror is a DeFi protocol powered by smart contracts on the Terra network that enables the creation of synthetic assets called Mirrored Assets (mAssets). mAssets mimic the price behavior of real-world assets and give traders anywhere in the world open access to price exposure without the burdens of owning or transacting real assets. Mirror is a community-governed project that seeks to unlock the wealth creation of major asset classes to users around the world via a permissionless access model.
What are mAssets?
mAssets are blockchain tokens that behave like “mirror” versions of real-world assets by reflecting the exchange prices on-chain. They give traders the price exposure to real assets while enabling fractional ownership, open access and censorship resistance as any other cryptocurrency.
Unlike traditional tokens which serve to represent a real, underlying asset, mAssets are purely synthetic and only capture the price movement of the corresponding asset.
What is TerraUSD (UST)?
TerraUSD is the first decentralized stablecoin that is scalable, yield bearing and interchain.
Current circulating supply = 204,731,969 UST
To learn more about both Mirror, mAssets and UST, the chefs advise you to visit their official communication channels:
Telegram (English): https://t.me/mirror_protocol
How do you stake CAKE to earn UST rewards?
If you own CAKE tokens, congratulations! You’re the master of your … pancakes.
Time to step up your taste buds by learning how to stake CAKE with Syrup Pool.
- Visit this webpage: https://pancakeswap.finance/syrup
- Click “Approve CAKE” on the UST Syrup Pool
- Click on the stake button.
- Confirm the transaction.
BEP20 UST will also be circulating and transferable on BSC when we start the Syrup pool, so you will be able to harvest your UST tokens and trade on PancakeSwap at any time!
BEWARE OF FOOD POISONING! ⚠️⚠️⚠️💀
The official mAsset and UST token contract addresses on Binance Smart Chain are:
Any other mAsset or UST tokens bearing the same tickers will be scams and result in a financial loss for users. Do not buy tokens from any other token address. Always verify the token address before purchasing tokens. If you receive airdrops from another address for mAsset or UST tokens, they will be rotten tokens (but not the cool kind!), and we advise you to ignore them.
Chef Hops 🐰