Pancake Bunny is a DeFi yield farming aggregator and optimizer on Binance Smart Chain (BSC) that I use to increase the earnings ($Cake) that I get from Pancake Swap. 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.
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 as I have always mentioned in all of my crypto-related posts – please Do Your Own Research (DYOR) as well and don’t just FOMO in any crypto that’s being hyped on Twitter and other social media websites. 🙂
Anyway, going back to the topic…
Note: (Update as of January 30, 2022) I have discontinued using Pancake Bunny since late last year (2021) after they have removed the pool that earns BNB. But since I have not been able to update my blog for the last six months, I’m just updating this now (01/30/2022). Please be informed that the information you see here might not be updated by the time you read this. Please DYOR and check Pancake Bunny’s official website and social media channels for their most recent updates.
Photo by Gary Bendig on Unsplash
My Experience in Using Pancake Bunny
I have been using Pancake Bunny since February 2021, just a few days after I have funded my first few farms in Pancake Swap and so far I have not experienced any issues yet (hopefully it stays this way).
As a newbie in yield farming, I was surprised at how easy it is to use the Pancake Bunny interface. Perhaps because it’s a bit simplified. I find Pancake Swap a bit more overwhelming than the Pancake Bunny website when I first started using them.
Just like Pancake Swap, you need a MetaMask wallet configured in the Binance Smart Chain to be able to use Pancake Bunny. I will write a separate post on how to do this but it’s not really that complicated.
And also, you will be needing $BNB to pay for gas fees (transaction fees) just like in Pancake Swap. I usually buy $BNB straight from Binance and then I transfer it to my MetaMask wallet.
So basically, I’ve been using Pancake Bunny for a couple of months now. I’m basically using it to stake $Cake that I earned from Pancake Swap and $Bunny that I claimed from my Cake Pool in Pancake Bunny.
I have only withdrawn once (which I regret. – as of now) because I swapped it to another coin (LOL!) that depreciated so much the next day hahahaha!
How to Make Money on Pancake Bunny
As of the time of writing, there are two ways to make money on Pancake Bunny and these are:
Stake on Single Asset Pools
This is probably the option with the lowest risk since you’ll just have to stake single asset (token/crypto) and you’ll not be subject to Impermanent loss unlike the liquidity pools.
Here are the crypto/token that you can stake and what you can earn. Bear in mind that this is subject to change so always check Pancake Bunny for the updated information.
And also, I will not be including the interest percentage since it changes every now and then.
| Stake | Earn | Auto-Compounding (Y/N) |
|---|---|---|
| Bunny (Boost!) | Bunny | No |
| Cake | Cake + Bunny | Yes |
| Bunny | WBNB | No |
| BNB | Bunny + BNB | Yes |
| ETH | Bunny + ETH | Yes |
| BTCB | Bunny + BTCB | Yes |
| USDT | Bunny + USDT | Yes |
| BUSD | Bunny + BUSD | Yes |
Stake LP Tokens
This is the option with a higher risk since you will be subject to Impermanent Loss. And since I’m already a liquidity provider in Pancake Swap, I didn’t bother myself in joining the liquidity pools in Pancake Bunny anymore to minimize my risks.
As of the time of writing, there are 21 pools available for staking. You can stake the LP tokens that you generated from Pancake Swap or you can create LP Tones on Pancake Bunny using the ‘Zap’ feature.
Here’s a walk-through on how to do it courtesy of Pancake Bunny Wiki.
The nice thing about the LP though in Pancake Bunny is that it is auto-compounding and you can earn both $Cake and $Bunny.
Probably I’ll give it a try in the future and I will update this post when I do so.
Final Thoughts and Why I Still Use Pancake Bunny
When I decided to use Pancake Bunny, Pancake Swap didn’t have the auto-compounding option yet for the $Cake vault. However, now that they have one, I’m still deciding if I should transfer my $Cake from Pancake Bunny back to Pancake Swap.
The main risk that I see in using Pancake Bunny is – once Pancake Swap implements similar functionality and once Pancake Swap gives the same amount of yield to its users, what would be left for Pancake Bunny? And when there’s no strong use case, users will definitely move to where they will benefit the most and this will drive down the price of $Bunny.
But, as of now, Pancake Bunny has some features that are not yet available to Pancake Swap such as earning two tokens in one stake ($Cake + $Bunny) and staking single crypto/token assets to earn crypto + Bunny, so while they still have that then I will still use it.
Hopefully, Pancake Bunny will be able to launch new features in the coming months that can attract more users to ensure its growth and competitiveness in this ever-changing world of crypto.
By the way, if you want to know more about how Pancake Bunny works and the nitty-gritty details of staking and farming on Pancake Bunny, check out their Wiki page here.
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