Pancake Swap: Yield Farming Outside of the Ethereum Ecosystem
As Ethereum becomes saturated with new Defi users pushing yields down on popular liquidity pools like those on Uniswap, it is imperative to be aware of the lucrative opportunities elsewhere in the Defi space. One opportunity is liquidity pools on Pancake Swap, a Binance Smart Chain-powered dex. Providing liquidity on Pancake Swap is a strategic way to maximize yields on coins unavailable in the Ethereum ecosystem at a fraction of the cost, averaging 8 cents a transaction on Binance Smart Chain. Below, see the yields investors could earn on coins like ADA, BAND, DOT and EOS with Pancake Swap.
If one decides that delving outside the realm of the Ethereum ecosystem is a good idea, then there is a seamless conduit connecting the Ethereum and Binance smart chain ecosystems together. Panama Swap allows users to seamlessly transfer USDT, BTC, BUSD and ETH from the ETH chain to the BSC chain without using an exchange.
In summary, the Defi secret on Ethereum has been out for a while now, but there are opportunities to get in early on alternative blockchain tokens at a fraction of the cost, like Pancake Swap and Panama Swap.
Jacob Stelter | Blockchain Analyst