PancakeSwap Welcomes Deri Protocol to Syrup Pool!
CAKE holders, today we are excited to be able to offer you a new Syrup Pool from Deri Protocol, a decentralised protocol to exchange risk exposures precisely and capital-efficiently.
The Syrup Pool:
Stake CAKE tokens to earn DERI tokens!
Total Tokens: 2,780,000 DERI
Distribution duration: 60 days
Start block: 7711400 (approx. 9am UTC on May 25th)
Finish block: 9439400 (approx. 9am UTC on July 24th)
Token rewards per block: 1.6087 DERI
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 DERI Syrup Pool, we will provide a DERI-BUSD farm with 1x CAKE rewards for the first 48 hours and then 0.5x 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 Deri Protocol?
Deri Protocol is a decentralized protocol to exchange risk exposures precisely and capital-efficiently. In the traditional financial world, this type of exchange is usually categorized under the term derivative.
A derivative is a contract that derives its value from the performance of an underlying entity, also called underlying, which can be an asset, an index or an interest rate. Investors/traders typically use derivatives for 3 reasons: to hedge, to increase leverage, or to speculate on an asset’s movement.
While there are already derivatives solutions for crypto, most of them are either centralised or insufficient to meet the needs and demands of potential DeFi clients. Simply speaking, the ultimate solution to exchanging risk exposures in the crypto world has to be something original and organic within the blockchain. And that’s exactly what Deri Protocol stands for!
However, in Deri Protocol’s case, the risk exposures are tokenized as non-fungible tokens (NFTs), so that they can be imported into other decentralized financial projects for their own financial purposes.
To learn more about Deri Protocol, the chefs advise you to visit their official communication channels:
Website: https://deri.finance/#/index
Twitter: https://twitter.com/DeriProtocol
Telegram (EN): https://t.me/DeriProtocol
Medium: https://deri-protocol.medium.com/
How do you stake CAKE to earn DERI 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 DERI Syrup Pool
- Click on the stake button.
- Confirm the transaction.
BEP20 DERI will also be circulating and transferable on BSC when we start the Syrup pool, so you will be able to harvest your DERI tokens and trade on PancakeSwap at any time!
BEWARE OF FOOD POISONING! ⚠️⚠️⚠️💀
The official DERI token contract address on Binance Smart Chain is:
https://bscscan.com/address/0xe60eaf5A997DFAe83739e035b005A33AfdCc6df5
Any other DERI tokens 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 DERI tokens, they will be rotten tokens (but not the cool kind!), and we advise you to ignore them.
Chef Hops 🐰
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