Introduction: The use of cryptocurrencies has been understood in different ways by different individuals, with the most important being financial freedom. Cryptocurrencies plans to take away the pains that comes with carrying out transactions across borders and in the presence of middlemen. DeFi is also putting in efforts to make this possible to achieve through the Crypto space. Alternatives to different financial activities such as savings, loans, etc that are present in the traditional finance will be much better when introduced in the decentralized financial system. It would be easier for users to enjoy this only when they have a smartphone and an internet connection. This would be needed for a smooth journey to the financial freedom that is required in the decentralized financial space.
This has been made possible through smart contracts such as the Ethereum Blockchain. Buckscake, which is the platform that will be discussed today, is a DeFi program that tries to bring the experience of Ethereum ecosystem closer to its ecosystem with the help of its smart contract and token. The Buckscake platform offers a lot to its users i.e. staking options.
Benefits of Buckscake
- Staking: The platform lets users stake a good number of tokens including BNB(ERC-20), ETH, and BKC itself, through a staking DApp. The tokens will be locked for 72 hours, and the users will be able to have full control of their tokens. This BKC staking DApp that Buckscake will be making use of, is not like the ones other platforms use, as it will be returning a fixed percentage of profit to stakers, unlike in other platforms where a high APR is first of all, introduced. This APR reduces with time, and will not give the stakers theie expected profits. The staking process of tokens on the staking DApp provided by Buckscake will be a seamless process which will be fast, of course. When the staking period of the tokens is reached, users can now withdraw their profits whenever they like, as long as the end of the staking period has been reached. The profits that will be received by stakers will not be cut short by commissions, but only GAS fees which will be necessary. As the BKC tokens are staked, the more the circulating supply of the token is reduced, this act will make the value of BKC to increase.
- Liquidity mining: This is one of the reasons why DeFi has reached the height that it is today in the Blockchain space. Liquidity mining will make it possible for users to earn rewards from their invested funds. BKC farming allows users earn rewards, and in return, they provide liquidity to different pools. They also receive rewards from Uniswap commissions. As more users join the pool, the rewards reduce with time. So, it is advised to farm BKC tokens as early as possible. Users get a UNIv2 token, which is the BKC-ETH token, once they put liquidity in a pool. This token will be used to have access to the farming option available on Buckscake.
Learn more about the project:
Telegram Chat: https://t.me/BucksCakePublicChat
Website: https://buckscake.com/
Telegram bot: https://t.me/buckscake_bot
Twitter: https://twitter.com/bucks_cake
Telegram Hub: https://t.me/BucksCakeHub
Publishers Informations :
Bitcointalk Username : Ubaraw
Bitcointalk profile link : https://bitcointalk.org/index.php?action=profile;u=2835216