Pancake Bunny has a new feature that I’m participating in and it’s called Bunny Pots. In essence, this is like a lottery game wherein you have to stake your $Bunny or $Cake in order to participate. It was announced last May 26 and what makes it unique compared to other similar games is that it’s a no-loss “jackpot” system where stakers can win the profits generated by the entire pool.
By the way, before we continue, I just want to remind you guys that this is not financial advice (NFA!) and should not be taken as such. This is just an informational article and I will just be sharing with you my experience in using Pancake Bunny Pots Lottery.
If you need any financial advice on any forms of investment such as stocks, real estate, or crypto trading and investing, please consult a professional financial advisor to minimize the risk of losing your hard-earned money.
And also, please do not forget to always Do Your Own Research (DYOR) before you make any financial investments.
Let’s continue with the article, shall we?
What is Pancake Bunny and What Do I Use it For?
By the way, this is not a sponsored post nor an affiliate post (they don’t seem to have an affiliate program yet as of the time of writing). I really use Pancake Bunny and Pancake Swap for Yield Farming as part of diversifying my crypto portfolio.
With Pancake Bunny, you can stake single-assets or liquidity pool (LP) tokens in order to earn $Bunny, $Cake, or $WBNB.
I don’t stake LP tokens on Pancake Bunny, I only stake single assets ($CAKE and $BUNNY).
And recently, after the announcement of the Pancake Bunny Pots, I’m also participating in two of the pots – Bunny Jackpot and Cake Jackpot which have a lower minimum staking requirement than the two other premium pots.
How Does Bunny Pots Work?
You need to have the following in order to participate:
- A MetaMask Wallet configured to the Binance Smart Chain (or other wallets compatible with Pancake Bunny)
- $CAKE, $BUNNY or Both
If you already have those, then all you have to do is to go to Pancake Bunny and then go to ‘Pots’ and stake your $BUNNY or $CAKE to your chosen ‘Pot’.
You can get your $BUNNY or $CAKE by transferring BUSD/BNB to Pancake Swap and swapping them to the $BUNNY and/or $CAKE Tokens. $BUSD and $BNB can be bought in Binance or other exchanges that support these tokens.
It’s really simple especially once you get the hang of it.
For $BUNNY Jackpot and $CAKE Jackpot Pots, the minimum requirement is just 1 Token. For the $BUNNY Premium and $Cake Premium Pots, the minimum staking requirement is 100 Tokens.
Bunny Pots Period
Please keep in mind though that there are schedules that you need to keep in mind though, as you can’t stake tokens anytime you want. Here’s the schedule mentioned by Pancake Bunny on their Medium account as of the time of writing (subject to change):
“Staking Period (the first 24 hours): This is the period during which you can stake tokens to the Bunny Pot. (BUNNY POT STATUS = UNLOCKED)”
“Farming Period (the 6 days following the Staking Period)*: This is the period during which the Bunny Pot is closed to any more staking, and during which the Bunny Pot will farm profits using the total pooled assets of the Bunny Pot (including the contribution from Team Bunny!). (BUNNY POT STATUS = FARMING)”
“Return Period (the period after the Farming Period ends): At the end of the Farming Period, open the Bunny Pot to see if you have won! If you have won, you will receive your original stake, plus 90% of the profits farmed by the entire pool over the course of the Farming Period! If you haven’t won, don’t worry, your stake will be returned to you because Bunny Pots are NO-LOSS! (BUNNY POT STATUS = COLLECT)”
The odds of winning also vary depending on the number of tokens you are staking, the time, and the number of times you have participated. You can see the full computation here.
Bunny Pot is a -no-loss lottery system, meaning, you will not lose the number of tokens that you have staked even if you don’t win.
1.The main risk that I see is with the opportunity cost. Because basically, when you stake your token on any Bunny Pots, you will not earn any interest, but instead, the yield is pooled and whatever has been earned becomes the prize of the winner.
If you staked your $BUNNY tokens instead on their, single-asset pools, then you would have earned something yourself ($BUNNY or $WBNB, etc).
When staking, claiming tokens back and re-staking, you are also paying for transaction fees ($BNB) which you will not get back anymore (you will only get the staked tokens back if you do not win the lottery).
2. Another risk is of course is the loss of value of the tokens. As we all know, the crypto market is a highly volatile market and the price fluctuates very often.
For example, if you buy 100 $BUNNY Tokens for $1800 (just to be able to participate in the Bunny Premium Pot), then by the time you withdraw the 100 $BUNNY Tokens, the USD value might be higher or lower than what you have paid for to acquire the tokens.
So again, just like in any form of investment, do not invest in Pancake Bunny what you can’t afford to lose.
3. The last risk that I see is that if Pancake Bunny experiences another security breach or an attack. They experienced a Flash Loan Attack last May 2021 and lost money in the process. The good thing though is that they remained transparent with their users and have provided consistent communication on their social media websites.
Recently, they have also shared their Recovery Plan via their Medium page.
We don’t know what the future holds and we don’t know the technological advances that attackers will use in the future in order to breach the security of Pancake Bunny’s system. So again, only invest what you can afford to lose.
I’m a person who likes to increase his chances of financial success that’s why, personally, participating in Bunny Pots is not an issue for me. This is not a piece of financial advice and this is based on my personal assessment of the risks that I can take and of course, my current financial status.
So again, to prevent losing your hard-earned money, please be sure to do your own research (DYOR) before you make any financial decisions.What is Bunny Pots and How to Participate Click To Tweet