PancakeBunny is a decentralized finance (DeFi) yield aggregator and optimizer for the Binance Smart Chan and Ethereum (ETH), which is used for PancakeSwap (CAKE). The PancakeBunny protocol gives farmers the opportunity to multiply their tokens.
Farmers at PancakeBunny get permission from private individuals for automatic summation and reinvestment of yield on their behalf through mono-contracts. Users can farm on their own, but doing so involves a complex process of determining the optimal frequency and time at which to increase and reinvest profitability. With PancakeBunny users can delegate this process. The actual farming takes place on PancakeSwap.
The primary goal of the platform is to support the DeFi ecosystem by providing users with an easy way to automatically increase their profitability on Binance Smart Chain. The DeFi industry — especially yield aggregators — experienced a major surge of activity in 2020.
Who Are the Founders of PancakeBunny?
PancakeBunny is being built by a group of anonymous developers who claim that their “code [speaks] for itself.”
PancakeBunny is developed in cooperation with PancakeSwap.
What Makes PancakeBunny (BUNNY) Unique?
Owners of BUNNY tokens control the ecosystem of PancakeBunny and receive most of the profits from farming rewards. BUNNY holders place their tokens in the management pool to claim the profit, which is sent to the pool in the form of Binance Coin (BNB) rewards. The share of profit received by a participant is proportionate to the size of their BUNNY stake: the more tokens you stake, the higher your impact on the ecosystem.
Related Pages:
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Expand your knowledge of crypto with the CoinMarketCap blog.
How Many PancakeBunny (BUNNY) Coins Are There in Circulation?
The BUNNY token doesn’t have a maximum supply. Instead, for 1 BNB earned in performance fees, 5 new BUNNY are minted via a smart contract. There is a maximum supply of 1,000,000 tokens; no circulating supply data is available as of March 2021.
The token’s fee structure is as follows: 30% is allocated as a performance fee for the processing of BUNNY transactions and 0.5% is charged as a withdrawal fee if the withdrawal takes place within 72 hours of deposit.
The 30% performance fee is given to the BUNNY stakers. For as long as the price of BUNNY is above 1BNB/10, participants are making money via the performance fee system. Ultimately, all fees are used as rewards for staking BUNNY — an approach that is expected to ensure the sustainability and longevity of PancakeBunny.
How Is the PancakeBunny Network Secured?
The PancakeBunny code has been audited by Haechi Labs, a smart contract auditing firm headquartered in South Korea.
Where Can You Buy PancakeBunny (BUNNY)?
BUNNY tokens can be traded on the PancakeSwap decentralized exchange.
