PancakeSwap Welcomes pNetwork to Syrup Pool!
CAKE holders, today we are delighted to be able to offer you a new Syrup Pool from pNetwork, a Cross Chain Asset Transfer Platform using Trusted Execution Environments (TEEs) and an increasingly decentralized network to secure underlying assets.
The Syrup Pool:
Stake CAKE tokens to earn pBTC tokens!
Total Tokens: 5.36 pBTC
Distribution duration: 60 days
Start block: 6153900 (March 31st 3PM SGT)
Finish block: 7881900 (May 30th 3PM SGT)
Token rewards per block: 0.0000031 pBTC
In order to host the pBTC Syrup Pool, we will need to provide a pBTC-BNB farm that will have 2x CAKE rewards for the first 48 hours and then 1x CAKE rewards after that.
pBTC is pNetwork-powered tokenised Bitcoin on BSC, pegged 1:1 with the underlying asset and currently featuring no fees for the BTC<>pBTC conversion.
Tokenising your Bitcoins on the Binance Smart Chain via the pNetwork is really simple:
1. Go to the pTokens dApp ( https://dapp.ptokens.io/pbtc-on-bsc/issue-redeem ) and specify your BSC wallet address within the “Issue pBTC” box
2. Click on “Generate new deposit address” — this is the Bitcoin address where to send your Bitcoins
3. Send your Bitcoin to the BTC deposit address (generated at point 2) and receive your pBTC on BSC shortly after — this last step may take between 10 and 30 minutes
You can deposit Bitcoin from your Bitcoin wallet or straight from your Binance account by withdrawing them directly to the BTC address (generated at point 2). When withdrawing from Binance select “Bitcoin network” for withdrawals.
For more information or assistance, join the official pNetwork telegram group at https://t.me/pNetworkDefi
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 pNetwork?
pNetwork allows the movement of assets across blockchains, issuing a tokenised version of these, or pTokens, on the foreign chain using Trusted Execution Environments (TEEs) and a network of nodes to secure underlying assets.
pTokens are pegged to underlying assets in a trustless manner, and can be redeemed at any point of time by burning the pTokens.
The pNetwork Token (PNT) is the native utility and governance token in the network. It is used for staking, and also for utilities such as DAO voting, Eidoo Card, asset swaps, and DEX services.
To learn more about pNetwork, the chefs advise you to visit their official communication channels:
How do you stake CAKE to earn pBTC 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 pBTC Syrup Pool
- Click on the stake button.
- Confirm the transaction.
BEP20 pBTC will also be circulating and transferable on BSC when we start the Syrup pool, so you will be able to harvest your pBTC tokens and trade on PancakeSwap at any time!
When staking CAKE, you access pBTC rewards. pBTC is pNetwork-powered tokenised Bitcoin on BSC, pegged 1:1 with the underlying asset and currently featuring no fees for the BTC<>pBTC conversion.
BEWARE OF FOOD POISONING! ⚠️⚠️⚠️💀
The official pBTC token contract address on Binance Smart Chain is:
Any other pBTC 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 pBTC tokens, they will be rotten tokens (but not the cool kind!), and we advise you to ignore them.
Chef Hops 🐰