This market has our portfolios on a roller coaster ride.
And lately, the hunt for gains has been a little less like catching fish in a bucket
and a little more like fishing for Alaskan king crab in the Bering Sea.
With the market not being able to find a clear direction,
some have been HODLing with diamond hands
waiting out the price action like a patient fishermen waiting out a storm.
Others have been leverage trading their profit from market volatility.
The deep sea fishing of crypto gains, you could say.
Arguably the safer way to make gains in any crypto market stormy or calm
is by getting out of the water altogether and taking up the simple life on a farm.
And in crypto, we can make steady gains by yield farming on DeFi platforms
like on Ethereum and soon to be on Cardano.
But the Binance Smart chain has its own DeFi.
And PancakeSwap is producing bumper crops of crypto gains.
Let's get it!
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My name is Ben.
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In this video, we talk about the top 4 yield farm pairs on PancakeSwap.
Just a quick overview,
yields are farmed when asset pairs are added to a liquidity pool
to allow AMMs on decentralized finance platforms like PancakeSwap to make trades.
Some of these trading pairs offer triple-digit APR,
but just like real farming, it carries a risk of getting wrecked
but in the form of rug pulls and impermanent loss,
not floods or crop disease.
Other trading pairs like stablecoin pairs are lower risk and carry an APR anywhere from 4-12%.
Today, we're going to talk about the trading pairs in the middle of that spectrum,
lower risk and high APR.
In short, the top 4 yield farm pairs on PancakeSwap to help you make gains in any crypto market.
No. 4: BSCPAD/WBNB farming pair
It's a high earner with an APR of 210%.
It's pretty high considering both BSCPAD and BNB are legitimate projects.
Sometimes, a high APR can be a red flag that a pair has a high risk level
and that there could be a rug pull on the price of an asset when a whale dumps the price
resulting in impermanent loss for the yield farmer.
BSCPAD is a utility token for the BSC Launchpad,
decentralized IDO platform that works on the Binance Smart Chain network.
Staking BSCPAD gives users access to airdrop allocations.
Staking is divided into tiers,
with Bronze getting a pool weight of 10,
requiring 1000 BSCPAD to be staked.
There are six tiers,
with the highest being the Blue Diamond,
75,000 tokens required for staking.
The purpose of BSCPAD is to allow people to get access to IDOs or initial DEX offerings
without the price being inflated and dumped by bots getting whitelist allocations in seconds.
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But the BSCPAD launched in February 2021 at a price of about $1.50.
It peaked in February at $6.54
and has seen a steady decline ever since.
It's staying right now at 43¢.
WBNB is simply a wrapped BNB token.
A wrapped token is a whole new token on a different blockchain
that's pegged to the value of another token.
In this case, WBNB is pegged to the price of BNB.
A token is wrapped so that it can talk to and be traded with other networks
that otherwise it wouldn't be compatible with.
When Binance Coin or BNB was launched in July 2017,
the price saw a slow and steady increase from $1 to around $30
before taking off like a rocket into the $200 and $300 range in February 2021.
The price of BNB has been an anomaly in the past year,
spiking spectacularly in May to $672
and then falling with the rest of the crypto market to its current value of $270.
BNB has its own mainnet,
BEP-2,
short for Binance Chain Evolution Proposal 2,
and is the native token to the Binance trading platform
and is the main asset used to trade on the Binance Smart Chain,
which is the network that PancakeSwap is built on.
No. 3
Next up is the FRONT/BNB trading pair with an APR of 122%.
Frontier is a mobile application that aggregates or combines together separate DeFi platforms
and makes them compatible with each other.
Currently, Frontier supports multiple chains, protocols and platforms
as well as staking from Ethereum, Binance Chain, Kava, Harmony, Cosmos, Maker,
Aave, Balancer, Yearn, Matic and BandChain,
among others.
Support for Solana, Elrond, Polkadot, Kusama and others are coming soon.
Back in February, we made a video about Frontier and how the price was set to explode.
And explode it did.
Going from 69¢ in early February,
topping out at $4.10.
Since the all-time high,
it's seen a steady decrease.
And the price of Frontier is currently back down to 50¢ a pop.
No. 2: ONE/BNB
This pair has an APR of 119%.
Harmony or ONE token is a sharding protocol that provides two-way bridges
that allow cross-chain asset transfers with Ethereum, Binance and other chains.
Harmony has staying power because it has an active community,
consistent development
and is focused on making NFT trading on Ethereum better, cheaper and faster.
What a combo.
Just this year, they announced expansion onto SushiSwap.
They also have NFT partnerships with Atari and Travala.
Now, we've been talking about Harmony for a while on this channel.
It's a project that's done very well for the BitSquad.
No. 1
The PancakeSwap yield farming mainstay,
the CAKE/BNB pair with an APR of 65%.
CAKE is a Binance Smart Chain native BEP-20 token
and is used to incentivize liquidity provision on the PancakeSwap platform.
The CAKE token was launched in September 2020 during the food-themed DeFi craze
along with BAKE and SUSHI
and of course the majestic Ethereum DeFi token that seems to somehow fit well in this picnic,
Uniswap.
I guess unicorns have big appetites.
The price of CAKE had a big boom and bust between February and May like the rest of the crypto market.
Starting at $2.84 on February 1,
topping out at $41 and declining steadily to today's price of $11.36.
It's worth mentioning one more high yield pair,
CAKE/BUSD,
with an APR of 92%.
BUSD is a USD stablecoin that is approved by the New York State Department of Financial Services.
It's partnered with Paxos and Binance.
According to the BUSD website,
the asset is backed 100% by US dollars that are held in FDIC-insured banks
and is audited monthly.
When earning CAKE in yield farming pools,
CAKE tokens earned can automatically be staked for 95% APY in the CAKE Syrup Pool
to earn even more rewards.
Sounds sticky.
Staking can also be done manually for an APR of 68%.
Keep in mind though that the biggest risk with yield farming is impermanent loss,
which is a lot less scary than it sounds.
Impermanent loss means that prices aren't permanent,
and when you buy LP tokens to stake in pools,
the price can change to the upside or the downside.
When the price of one of your farmed assets changes to the downside,
this is called impermanent loss because the tokens you staked
just aren't worth as much as when you first put them in.
Some tokens have a higher risk level than others.
That's why it's important to tread the fine line of choosing a high yield farm pool
with legitimate tokens that have lower risk price fluctuations.
That's the criteria we used for these top 4 yield farm pools on PancakeSwap.
That's all I got.
Be blessed.
BitBoy out.