If you are a CAKE holder, you can put your tokens into CAKE Pool and receive CAKE rewards. As of today (Aug 25, 2021) the APY is 92.0% with the price of CAKE at $24.340. To get started, you need to have some CAKE tokens that you will be supplying to the platform.

You may follow these tutorials to transfer BNB from Binance to your wallet and swap them for CAKE tokens.

How to transfer BNB from Binance to Metamask or Trust Wallet under BSC Network?

How to swap BNB for CAKE under BSC Network on a desktop PC?

This tutorial shows the step-by-step procedure using Metamask Extension on a desktop browser. The procedure is similar when using a mobile version of Metamask. Similarly, you may also use Trust Wallet instead of Metamask.

How to connect Trust Wallet to PancakeSwap from a desktop PC?

 

Difference between Auto CAKE and Manual CAKE:

In this tutorial, we will be staking in Auto CAKE. With both pools, you can simply stake your CAKE tokens to earn more CAKE tokens.

But there are some differences:

Manual CAKE

  • You need to harvest or compound (reinvest) your CAKE by yourself. That means returning to the site, tapping buttons, and using a bit of BNB for transaction fees.
  • Interest is displayed as APR, which doesn’t include compounding.
  • Deposits SYRUP Token to your wallet upon staking.

Auto CAKE

  • Stake your CAKE and forget about it! The CAKE you stake in this Syrup Pool will be automatically compounded (reinvested) for you, minus a small fee.
  • The "automatic" compounding function is triggered by other users who get a small bounty for triggering it.
  • Interest is displayed as APY, which includes compounding.
  • A small performance fee is subtracted from your earnings each time the pool is automatically compounded.
  • An unstaking fee applies when you unstake within 3 days of manually staking.
  • Does not deposit SYRUP to your wallet upon staking. That means you won't be able to see the staked version of CAKE in your wallet.

 

Instruction:

 Open the desktop browser and point to  https://pancakeswap.finance/ . On the top-right corner, click the "Connect Wallet" button to connect Metamask to PancakeSwap. Once connected, the button will display your wallet address.

 You may click on "Wallet" to check the amount of CAKE available for staking. In this tutorial, we will be staking 2 CAKE.

 If you have some CAKE in your wallet but Metamask is not showing the tokens, please refer to this tutorial below:

PancakeSwap: How to add CAKE and SYRUP to Metamask Wallet or Trust Wallet?

Or you may simply go to "Pools" (left menu) and click on "Add to Metamask" to have CAKE added to your wallet.

 If this is the first time you are staking in Auto CAKE, you need to "Enable" it. This allows PancakeSwap to spend your CAKE. A small transaction fee applies. In this case, it is 0.000222 BNB or $0.11. Hit "Confirm" to approve.

 Wait for a few seconds and the "Enable" button is now changed to "Stake". Tap on the "Stake" button to start staking.

 There are currently 2 CAKE tokens in the wallet available for staking. We will go for the "MAX" and "Confirm" staking the 2 CAKE.

 

 Metamask will once again ask you for transaction confirmation. Tap "Confirm" if you agree on the gas fee.

 

 When the transaction is successful (usually within a minute), you will see a message on the desktop browser. If you have Trust Wallet installed (with notification turned on), you will also receive a notification on your mobile device. In Metamask or Trust Wallet, it is now showing zero CAKE as they are now in the pool.

 Go back to PancakeSwap website and you will see your staked CAKE. The reward is increasing in real time. You don't have to collect the reward and re-stake it. It will be done automatically as other users are claiming the "Auto CAKE Bounty".

 The minimum stake period is 3 days. If you unstake within this period, you will have to pay 0.1% unstaking fee.

Total Transaction Fees:

Throughout the whole staking process, the total amount of gas fee paid was 0.00022209 BNB ($0.11) for enabling Auto CAKE feature + 0.00137858 BNB ($0.65) for staking. Total 0.0016 BND or $0.76. The fees are not fixed. You might experience lower or higher fees depending on the transaction demands in the network.

You may view both transactions in BscScan. The URL is:

https://bscscan.com/address/xxxxxxxxxxxx

* Replace the "xxxxxxxxxxxx" with your full wallet address.

 

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