<h2><strong>What is PancakeSwap?</strong></h2><p>PancakeSwap is a decentralized exchange built on the Binance Smart Chain. It offers fast and inexpensive transactions, the ability to farm liquidity, provides tokens, and incorporates other specific features. The vision of PancakeSwap is to create a decentralized finance platform that is easy to use and accessible to everyone. The token that powers PancakeSwap is CAKE and it is exclusively used for trading, staking, and governance votes on the protocol. This tutorial will show you how to stake your CAKE tokens on PancakeSwap.</p><h2><strong>Prerequisites</strong></h2><h3><strong>Where to buy CAKE</strong></h3><p>You can get CAKE tokens at a cryptocurrency exchange or at a DEX. You should always do your own research when selecting a reputable cryptocurrency exchange. For best security, it is not recommended to leave your tokens on an exchange, but transfer them to your non-custodial or cold/hardware wallet after procuring them.</p><h3><strong>PancakeSwap wallets</strong></h3><p>You should store and manage your CAKE tokens in a BNB Smart Chain-ompatible wallet. We suggest using Metamask Wallet in this tutorial. Compatible wallets include:</p><ul><li><a href="https://trustwallet.com/tron-wallet/">Trust Wallet</a></li><li><a href="https://metamask.io/">Metamask</a></li><li><a href="https://chrome.google.com/webstore/detail/binance-wallet/fhbohimaelbohpjbbldcngcnapndodjp">Binance Wallet</a></li><li><a href="https://www.coinbase.com/wallet">Coinbase Wallet</a></li></ul><h3><strong>How to connect BNB Smart Chain to Metamask Wallet</strong></h3><ul><li>Open your Metamask Wallet, click on your current blockchain at the top</li><li>Click on ‘<strong>Add network</strong>’</li><li>Click on ‘’<strong>Add a network manually</strong>’ if you have never connected to BNB Smart Chain</li><li>Enter the BNB address below into their relevant fields:<ul><li>Network Name – Smart Chain</li><li>New RPC URL – https://bsc-dataseed.binance.org/</li><li>Chain ID – 56</li><li>Currency Symbol – BNB</li><li>Block Explorer URL (Optional) – <a href="https://bscscan.com">https://bscscan.com</a></li></ul></li><li>Click on ‘<strong>Save</strong>’</li></ul><h2><strong>How Staking Rewards for PancakeSwap (CAKE) are Generated</strong></h2><p>Learn how rewards are generated in the FAQ section titled ‘How are the rewards generated’’ <a href="https://www.stakingrewards.com/earn/pancakeswap/">here</a>.</p><h2><strong>How to stake PancakeSwap</strong></h2><h3><strong>Step 1: Make sure you have a Metamask Wallet</strong></h3><p>Stake your CAKE tokens using Trust Wallet or Metamask Wallet, amongst others. We will use Metamask Wallet in this staking tutorial.</p><p>As a popular wallet in the Binance ecosystem, Metamask Wallet offers users the ability to stake tokens, access blockchain apps, and manage multiple tokens in one wallet. Simply connect your Metamask Wallet directly to PancakeSwap to stake CAKE tokens. Download the Metamask Wallet Extension <a href="https://chrome.google.com/webstore/detail/metamask/nkbihfbeogaeaoehlefnkodbefgpgknn?hl=en">here</a>. Deposit your tokens into this wallet before continuing onto step 2.</p><h3><strong>Step 2: Go to the </strong><a href="https://www.stakedao.org/lockers/cake?r=f3zpsi"><strong>StakeDAO's CAKE Dashboard</strong></a></h3><p>Connect your wallet in the top-right corner, and choose Metamask Wallet. Connect and switch to BNB Smart Chain in your wallet if you haven’t switched it yet. To start staking, follow the steps below:</p><ul><li>Enter the amount of CAKE you want to mint&nbsp;</li><li>Click Approve&nbsp;</li><li>Click Mint and Stake</li><li>Delegate</li></ul><h3><strong>Step 3: Finalize the transaction&nbsp;</strong></h3><p>Sign the transaction in your wallet to complete the process.</p><p>Congratulations! You have now staked your CAKE tokens and will start earning those juicy staking rewards.&nbsp;</p><h3><strong>Step 4: Track staking portfolio</strong></h3><ul><li>Track your CAKE staking rewards on the <a href="https://docs.stakedao.org/sdvote">staking dashboard</a>.</li><li>Monitor governance <a href="https://docs.stakedao.org/sdvote">proposals</a> on the PancakeSwap protocol that may impact the staking mechanism</li><li>Track the current and historical reward rates and staking ratio of PancakeSwap by visiting the <a href="https://www.stakingrewards.com/earn/pancakeswap/">PancakeSwap asset page</a>. To make better staking decisions, it’s essential to understand these relevant data points. To learn how these data points could impact your staking rewards, please read more in the FAQ section named “How are the rewards generated” on the <a href="https://www.stakingrewards.com/earn/pancakeswap/">PancakeSwap asset page</a></li></ul><h3><strong>Step 5: How to Unstake CAKE</strong></h3><p>To unstake your CAKE tokens, follow the steps below:&nbsp;</p><ul><li>Click on ‘Unstake Tab’ on the <a href="https://www.stakedao.org/lockers/cake?r=f3zpsi">staking dashboard</a></li><li>Enter the amount of tokens you would like to unstake</li><li>Click on ‘<strong>Unstake</strong>’ to finalize the transaction in your wallet<img src="https://lh3.googleusercontent.com/HcLEXxNA10GEokv-zXJPyPKe1kpdu2nvHO0p3wUnd6dptuRYXzeHJXs7XkERkcioWbPKtgEn80CLkzSVhSnAXEVKICFCcTxUqrFg3ZR_2sTQygnn73xQWwejsmozpWTPJ8b7KWoaqJQTclQB8bM227U" alt=""></li></ul><h2><strong>Maximizing Staked CAKE</strong></h2><p>Now that you have staked your CAKE, you have 4 options which can be used to change your position. These options appear on the <a href="https://www.stakedao.org/lockers/cake?r=f3zpsi">CAKE Staking Portal</a>. The options are:</p><ul><li>Mint&nbsp;</li><li>Claim reward</li></ul><h3><strong>Mint</strong></h3><p>You can mint more sdCAKE by following the steps mentioned earlier.</p><h3><strong>Claim reward</strong></h3><p>sdCAKE rewards are distributed once every 2 weeks and can be claimed from the <a href="https://docs.stakedao.org/sdvote">Claim page</a>.</p><h2><strong>Conclusion</strong></h2><p>Staking is essential to DeFi protocols like PancakeSwap and comes with many benefits for investors and the network:</p><ul><li>Investors earn yield from token emissions and/or transaction fees</li><li>Stakers become eligible for airdrops as many protocols prioritize granting these benefits to them</li><li>Staking helps to secure the protocol</li><li>Stakers can participate in governance, as many protocols allocate governance rights based on the amount of tokens staked</li></ul><p>Congratulations! You are now not only getting the most out of your investment with compounded returns. YOU are also (in-)directly contributing to the the security of PancakeSwap and thus contributing to the long-term success of your investment! PancakeSwap needs active stakers like you to become successful long-term.&nbsp;</p><p>Now share the tutorial with your friends so they can get to start staking as well!</p><p>Lastly, don’t forget to check out the <a href="https://www.stakingrewards.com/earn/pancakeswap/">PancakeSwap (CAKE) asset page</a> for more insights into staking CAKE, and drop us a <a href="mailto:content@stakingrewards.com">message</a> if you found this tutorial useful. Happy staking!</p>

How to Stake PancakeSwap (CAKE)

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