Stake SUSHI to earn CAKE on PancakeSwap
SUSHI was the winner of last weeks vote! As a result, we’re proposing to host a reverse Syrup Pool in which you can stake BEP20 SUSHI to earn CAKE tokens!
Why was SUSHI in the vote?
Sushi is currently extremely underutilized on Binance Smart Chain and we’re hoping to change that… along with sharing the joy of $0.10 transactions with some of its many users, most of which currently live on ETH.
“But where will the CAKE come from for these rewards, Chef?”
Simple. We bought the CAKE for this pool back from the market using the treasury wallet.
Here’s the tx: https://bscscan.com/tx/0xe961be5ae27f8e8659fca2e7bfc7693616a9775f9ff6da638ef5a1c62e4efecc
What about AAVE?
AAVE will be up for the vote again next week, battling it out against a new contender!
The Syrup Pool:
Stake SUSHI tokens, to earn CAKE tokens!
Total Tokens: 7,400 CAKE (Around $100,000)
Distribution duration: 7 days (201,600 blocks)
Start block: 5179680 (3pm SGT 25th Feb)
Finish block: 5381280 (3pm SGT 4th March)
Token rewards per block: 0.0367 CAKE
Max Stake per wallet: 50 SUSHI (Around $750)
The Farm:
In addition to the Syrup Pool, we are hosting a SUSHI-ETH farm that will have 2x CAKE rewards initially, which will be reviewed at a later date.
Why ETH and not BNB?
We want to make it super easy, and equally as beneficial, for SUSHI stakers on Ethereum to migrate to the promised land of low gas fees and quick txs.
The Vote:
As usual, it needs to be approved via a vote.
Why do we need a vote? Since it dilutes farm rewards, the chefs want BSC’s greatest community to make the decision themselves.
What is SushiSwap?
SushiSwap is an automated market-making (AMM) decentralized exchange (DEX) currently on the Ethereum blockchain.
They are a community-run project that is governed by the vote of the community for all major changes to the protocol. Day to day operations, rebalancing of pools and ratios, business strategy and overall development is ultimately decided on by Sushi Chef 0xMaki
There are a few core products of SushiSwap’s ecosystem:
🍣 SushiSwap Exchange
🍣 SushiSwap Liquidity Pools
🍣 SushiSwap Farms
🍣 SushiSwap SushiBar Staking (xSushi)
Each of these serves a different purpose within the ecosystem.
To learn more about SushiSwap, the chefs advise you to visit their official communication channels:
Website: https://sushi.com/
Twitter: https://twitter.com/SushiSwap
How do you stake SUSHI to earn CAKE rewards?
If you own SUSHI tokens, congratulations! Time to step up your taste buds by learning how to stake SUSHI in the Syrup Pool.
- Visit this webpage: https://pancakeswap.finance/syrup
- Click “Approve Contract” on the CAKE-SUSHI Syrup Pool
- Click on the stake button.
- Confirm the transaction.
You can harvest your CAKE tokens and trade on PancakeSwap at any time!
BEWARE OF FOOD POISONING! ⚠️⚠️⚠️💀
The official SUSHI token contract address on Binance Smart Chain is:
https://www.bscscan.com/token/0x947950bcc74888a40ffa2593c5798f11fc9124c4
Any other SUSHI 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 SUSHI tokens, they will be rotten tokens (but not the cool kind!), and we advise you to ignore them.
Chef Hops 🐰
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