How to maximize your passive income on Binance Smart Chain using Pancakebunny & Yieldwatch?
So, you have been playing with Pancakeswap, you saw the price of BNB getting pumped like crazy, and you want to inject more money in DeFI, but you don’t know what are the next steps? Worry not dear crypto-enthusiast, as I will be your guide :)
Follow the white rabbit, and let’s get down the hole!
Note: If you haven’t been through my introduction guide to PancakeSwap and my advanced tips, I highly suggest you to do so :)
At this stage, I highly suggest you to be comfortable with the concept (and the risk) associated to yield farming and staking. If you don’t understand, look online (google, youtube, medium), read the white-papers & docs of your preferred projects. Also, as usual, …
Warning: Only invest what you can afford to loose in Cryptocurrencies. Also, Do Your Own Research!
PancakeBunny
Pancakebunny is an optimizer for Pancakeswap. It will maximize your profit by harvesting automatically your CAKE rewards and adding it into your investment. This is called Compounding.
It will also generate some BUNNY token as another reward.
Multiple pools are available, ranging from simple token (BUNNY, CAKE) to flip token (=your usual pair, like CAKE-BNB, BUSD-BNB, BUNNY-BNB, …), some having the “Maximizer” option (=instead of compounding the flip token, you will get more CAKE).
To use it, super easy: go to https://pancakebunny.finance/farm, connect your wallet, select your pool and stake your token (or flip token).
Some information to keep in mind:
- The BUNNY token is valued ~120$, which is very decent
- Audit has been done by HAECHI, which is a good audit company (and the audit results are available here if you want)
- When you stake your funds on Pancakebunny, you have to keep them there for at least 3 days if you want to avoid the 0.5% withdrawal fees
- The profit you will get is 70% your investment (CAKE, CAKE-BNB flip, …) and 30% BUNNY
Yieldwatch
Yieldwatch is a wonderful tool to keep your yield farming and staking under your watch. It allows you to see all your investments, all your rewards in 1 place, with good set of information.
To use it, just go on https://yieldwatch.net/, enter your BNB address and click on the binoculars. You will see an overview of your activities, farms, yield, pending rewards, and if you click on the “i” information icon, you can have more details on your farming pool.
A lot of very useful information are displayed, like the deposited & the changed number of token, the impermanent loss (difference between HODL and invest in yield).
Note: yieldwatch doesn’t support everything (pancakebunny is not supported for example).
I hope this guide helped you in your DeFI & Yield journey. If you have any question, feel free to drop me a message.
Clap if you liked it, subs if you loved it!
My BNB Address (if you want to deposit some coins XD): 0x0451864cdd0cb179893EB91057dA7746B5b1973B
My Binance referral link: https://www.binance.com/en/register?ref=RUERPAKG
PancakeSwap: https://pancakeswap.finance/
SWGb project: https://swirgepay.com/
