So hello everyone how are you all hope so everyone is well and good so friends today i will be sharing my views and strategies which i am following as of now in order to maximize my earnings.
Pancake Swap:
So last month pancake swap introduced a whole new set of Apr which they have set for different pools.
The most important change was that for staking cake we got two option one is in the liquid form which we can withdraw any point of time as it was earlier but the Apr dropped a lot to somewhere around 5 to 10%. The second option was of locking your cake for different interval of time and the highest apy was on the 1 year lock up which started from over 200% and currently is at 128% which is quite decent and this will be maintained to certain extent.
In my opinion staking some part of your cake which you will be holding for over 1 year is worth staking as with an apy of over 100% is something which is really great.
My Strategy for maximizing profits?
As you can see in the image that i have locked my cake for 1 year and i have earned around 14 cakes from it which is a nice profit. So for me as i am extremely bullish on cake so my vision for cake is for long term so i will be holding it for atleast a year and will try to keep my cakes in liquid in 2024 as i believe that at that point of time cake will definitely touch 100$ and i will definitely not want to miss any profit from it.
I am having around 150 cake staked and i am looking forward to stake somewhere around 1000 in near future and will try to achieve staking of 5000 by end of this year which is somewhat challenging but will definitely try to have it.
As of now only staking cake for 1 year is beneficial as apart from it the Apr is too low and for such low Apr it is not worth staking until you are having lots of cake.
So what do you think about my strategy and do you think it is worth locking our cake or not. Do let me know in the comments section.
Thanks friends have a great day ahead.