Pancake Bunny is a yield aggregator on Binance Smart Chain blockchain (BSC) like Autofarm and AcryptoS. It allows users to earn higher interest on their underlying crypto assets through its advanced yield optimization strategies.
Are you farming on Pancake Bunny? Then we recommend you to use Defimax.com to track your portfolio and LPs on Pancake Bunny.
But wait? If it is like other yield aggregators on BSC then why Bunny?
Well, the answer lies within its name.
Yes, you guessed it right. Because it allows you to farm $CAKES.
If you are a $CAKE lover and are looking to maximize your profits and earn more CAKES then bunny is a must-go-to place for you.
Are you excited to discover the unbeatable bunny offerings to the De-Fi ecosystem for maximizing yield and get delicious $CAKES?
Don’t worry. In the below article, we have covered all the information that you will require to get started with Pancake Bunny.
All set? Let’s hit the fields!
What is Pancake Bunny?
Pancake Bunny is yet another food-themed De-Fi protocol running on the Binance Smart Chain Network with currently more than US$600 million (22 March 2021) total value locked (TVL) into its farming pools.
Like other yield optimizers on BSC, bunny uses Pancake Swap as it is the widely loved De-Fi protocol for yield farming. Bunny is built with the purpose to bring new farmers into the Binance Smart Chain Ecosystem by providing them an easy gateway to the crypto space where they can invest easily while reaping immense benefits.
To serve its purpose, Pancake bunny offers three distinct products built on top of the Binance Smart Chain. These are:
- Vaults: Vaults allows farmers to lock their crypto into a smart contract while earning interest on it. Unlike Pancake Swap, bunny uses an auto-compounding feature to let its lovers earn more while investing less. The interest earned will be auto-compounded into the vault to earn more yield every 24 hours, saving gas fees for every transaction while preventing the hassle of depositing the assets manually.
Whoa.., low gas fees, auto-compounding feature, and a chance to earn more $CAKES. Isn’t it like the cherry on the cake? Well, this cake is something different, you know the one!! Right?
NOTE: The BUNNY and BUNNY/BNB pools do not auto-compound. However, you can manually compound it once per day to earn more yield.
Bunny has a total of 19 farms that are further divided into the following categories:
- BUNNY Staking Farm: This farm allows you to put your BUNNY at stake while getting WBNB back. This farm has no deposit and withdrawal fee.
- BUNNY/BNB Farm: In this farm, users can deposit BUNNY/BNB to earn more BUNNY tokens. There will be a withdrawal fee of 0.5% of the withdrawal amount that will only be applicable while taking out assets within 72 hours of deposit.
- Auto Compounding Farms: As of now, there are a total of 8 farms that exist on Pancake bunny with the auto-compound feature enabled. These are CAKE-BNB, ETH-BNB, BTCB-BNB, BUSD-BNB, USDT-BNB, DAI-BNB, USDC-BNB, VAI-BUSD, USDT-BUSD. There will be a withdrawal fee of 0.5% of the withdrawal amount and a performance fee of 30% of the profits associated with these vaults.
- Maximizer PancakeSwap Farms: These farms will help you to earn more $CAKES by auto-compounding the original profit earned from Pancake Swap farm.
- ZAP- This amazing feature at bunny’s website allows De-Fi users to directly switch from a single asset to its corresponding LP tokens without redirecting you to any third-party website and with no additional fees. ZAP uses PancakeSwap in the backend to perform the required job and it is made to enhance the user experience at the bottom level.
- Governance- Pancake Bunny’s native governance token BUNNY can be earned as BUNNY rewards by participating in yield farming opportunities through their vaults. You can also buy BUNNY through its ZAP function. BUNNY token holders get the extra benefit of governing the decisions related to the protocol. Users can stake their tokens into the BUNNY governance pool and earn rewards. The Pancake Bunny team is working to launch its governance feature soon where token holders can stake their tokens to earn BNB as rewards.
Depositing and Staking on Pancake Bunny
Pancake Bunny allows you to farm its governance token BUNNY while earning interest on your locked value. And if you are worried about the process to earn more crypto from your existing one then throw away all your worries and take a look at this complete how-to guide of using bunny’s ecosystem.
The bunny’s platform is self-explanatory, if you will take a look at bunny’s website, you will notice that they have mentioned every single piece of information required to carry out the transaction at their platform.
But if you are newer to yield farming space then there might be a possibility that you may face some difficulty in carrying out transactions. I will request you to stick to the end of this article to overcome any hurdle coming your way.
Good to go? Let’s get started.
Before you start earning profits from the platform, there are certain measures that you have to keep in mind while making actions. These are:
- Choose your preferred wallet to connect with Pancake Bunny. You can choose from the list of available wallets at the bunny’s website.
- For people like me, who love Metamask and want to use it as a mode to interact with bunny, make sure that your network is set to BSC Mainnet otherwise there might be a possibility that you will lose your funds due to direct cross-chain transfer. Also, follow the below steps to connect Metamask with BSC Mainnet. Go to network → Add network → fill in the details as shown below → Hit save.
Network Name – BSC Mainnet
New RPC URL – https://bsc-dataseed1.binance.org/
Chain ID – 56
Currency Symbol – BNB
Block Explorer URL – https://bscscan.com/
- You must have some BNB in your Metamask wallet to pay the gas fee.
Once all the prerequisites are in place you can immediately start investing and earning at Pancake Bunny.
Depositing at Pancake Bunny
- Go to https://pancakebunny.finance/farm
- Smash the Connect Wallet button → Choose your preferred wallet.
- You will see at the top right corner that your wallet has been successfully connected and all the available farms are unlocked for you to invest and farm.
- Now, scroll down to the complete list of available farms and select the one that you like.
- Do not forget to obtain the farm’s underlying token before making any deposit.
- When you click on a specific farm, say CAKE-BNB FLIP, it will take you to another web page that will showcase each information and the steps to follow very precisely. This is the best thing I like about bunny and I hope that you will also gonna love it.
- Now, To invest in this farm, you need CAKE-BNB FLIP LP tokens that you can get directly by using their ZAP feature. Just click Direct ZAP → enter the value and hit ZAP. There is no need even to select the required tokens to switch, bunny will get it done all for you.
- Check your Metamask Wallet Balance and you will see that you have successfully received LP tokens.
- After getting LP tokens, enter the number of tokens you wish to deposit and hit Deposit.
- Confirm the transaction on Metamask by paying the gas fee.
- Done! Now you have become a member of the amazing bunny platform.
- The crops will start growing immediately after the deposit and will grow according to the mentioned APY in the farm.
- You can also get the required underlying token by providing liquidity to the pools on the Pancake Swap.
Staking on Pancake Bunny
Now, since you know how to deposit crypto on bunny and earn rewards from it. Let us see what will happen when you will stake BUNNY into the BUNNY Staking farm.
Users can stake their $BUNNY into the Bunny stake farm to get WBNB.
Staking is the process of locking up your crypto into a smart contract to participate in the validation process. The higher amount you will lock the more is the probability to be selected as the validator by the protocol.
As a return of the staking process, Stakers will get rewards. In Pancake Bunny, Stakers will get WBNB in return. Rewards can be dependent on many factors including the amount of crypto the validator is staking, the time for staking, the inflation rate, and many more.
And there is an over and above benefit of staking BUNNY into the BUNNY farm that it doesn’t have any fee associated with it.
You would be happy to know that the $BUNNY token doesn’t have a limited supply like other yield aggregators token on the Binance Smart Chain. So you don’t have to worry even if you have missed the pre-sale.
For every 1 BNB that team earned as the performance fee to their farms, they mint 5 BUNNY tokens that will be distributed to respective users. Approximately 13%of the minted BUNNY will go to the team to ensure continuous development and innovation in the protocol.
Fees Associated with Pancake Bunny
Fortunately, there is no fee associated with depositing crypto in the vaults but yes there is a withdrawal fee that users have to pay, only if the withdrawal happens within 72 hours of deposit. Pancake bunny allows users to withdraw assets by paying nothing but only if they will withdraw their assets after 72 hours of deposit.
Note that the timer resets every time when you make a deposit into the vault.
Bunny also takes a 30% performance fee on its farms that will anyhow go back to users as rewards for staking BUNNY.
Risks Associated with Pancake Bunny
Pancake bunny is audited by HAECHI but that doesn’t mean that there are no risks involved. Bunny’s team is continuously struggling and working with HAECHI to ensure the safety of your money in its vaults.
But, that is also not sufficient, putting up crypto into a smart contract comes with lots of risks from malicious attackers. We highly recommend doing your own research before jumping into the crypto pool.
Also, In the crypto world, there is nothing that exists like no risk. However, there are De-Fi protocols that have advanced security features and low-risk ratings but they also will not be responsible for any loss of your funds.
Crypto is made to be this way only thus we highly recommend depositing only the amount that you can afford to lose.
Is it possible to manually compound the profits into the Pancake bunny vaults?
Pancake Swap has no auto-compound feature thus every time you have to deposit your funds manually in its farming pools to be compounded. This requires a lot of time and fee. Bunny overcomes this problem by introducing the auto-compounding feature to its farming pools. This feature is not enabled for BUNNY and BUNNY? BNB pools only. Thus, you have to manually deposit the profits earned to be compounded in these vaults.
Before You Go…
Bunny has always been a fascinating and loving protocol for De-Fi users. Recently, they have announced their partnership with Pancake Swap and they are on a way to partner with yield watch to attract more investors to their platform.
Now users can stake CAKE on Pancake Swap and earn BUNNY. No doubt that partnering with such yield farming giants will help bunny to reach its market heights in a very short span of time.
However, in this highly volatile crypto market, building trust and maintaining transparency is not easy but the kind of game that bunny has shown in the last few months is really applauded.
Bunny is also planning to launch its cross-chain project that will allow ETH users to experience farming on Binance Smart Chain.
Bunny has much to do in the pipeline this year and thus users can expect more farming opportunities and higher profits in the coming time.