PancakeSwap Welcomes Back Venus Protocol to Syrup Pool!
CAKE holders, today we are happy to be able to offer you a Venus Reward Token Syrup Pool from Venus Protocol, a decentralized and algorithmic money market protocol on Binance Smart Chain.
The Syrup Pool:
Stake CAKE tokens to earn VRT tokens!
Total Tokens: 70,000,000 VRT
Distribution duration: 60 days
Start block: 7798200 (approx. 9am UTC on May 28th)
Finish block: 9526200 (approx. 9am UTC on July 27th)
Token rewards per block: 40.5092 VRT
Max Stake per wallet:
100 CAKE for the first 48 hours, then unlimited CAKE staking.
To give as many CAKE holders the opportunity to Farm some juicy pool rewards at a high APY, we will have a 100 CAKE token cap staking limit per user for the first 48 hours.
The Farm:
In order to host the VRT Syrup Pool, we will need to provide a VRT-BNB farm that will have 2x CAKE rewards for the first 48 hours and then 1x CAKE rewards after that.
The Vote:
Usually, there would be a vote, but as you may have noticed, there are currently issues with the nodes we have been using to support voting. As such, we hope that you will trust us on this one, and rest assured we are working to get the new version of voting deployed ASAP.
What is Venus Reward Token?
Venus Reward Token is a mechanism created to become an additional mining distribution to suppliers and borrowers of Venus Protocol, with a goal to gradually lower XVS inflation rate and also include burning XVS throughout this process. Since XVS is the Governance token that controls the entire protocol, Venus’ goal is to make the total supply lower over time to make Governance more secure.
VRT will have a total supply of 30 Billion and be distributed to users over the course of 4 years, while Venus plan to have the XVS distribution double to around 8 years to compliment the reductions. All of this is subject to Governance changes and on-chain proposals.
To learn more about Venus Protocol and Venus Reward Token, the chefs advise you to visit their official communication channels:
Website: https://venus.io/
Twitter: https://twitter.com/VenusProtocol
Telegram: https://t.me/venusprotocol
Blog: https://blog.venus.io/
How do you stake CAKE to earn VRT 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 VRT Syrup Pool
- Click on the stake button.
- Confirm the transaction.
BEP20 VRT will also be circulating and transferable on BSC when we start the Syrup pool, so you will be able to harvest your VRT tokens and trade on PancakeSwap at any time!
BEWARE OF FOOD POISONING! ⚠️⚠️⚠️💀
The official VRT token contract address on Binance Smart Chain is:
https://bscscan.com/address/0x5f84ce30dc3cf7909101c69086c50de191895883
Any other VRT token will be a scam and will 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 VRT tokens, they will be rotten tokens (but not the cool kind!), and we advise you to ignore them.
Chef Hops 🐰
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