So far all 5 valid proposals and my own WIP proposal (WIP KISS Proposal - 50% Mainnet, 25% xDAI, 25% BSC) include Pancakeswap on BSC. The arguments are comparable: Pancake has a lot of users → Hopr wants more users and get on Binance.
I’m wondering a bit how all these new BSC users can be reached if liquidity will be moved to Pancakeswap. I checked some Pancakeswap Telegram groups. I haven’t seen announcements like “Hey, we’re token xyz and are now on Pancakeswap”. If it’ll be announced via the Hopr communication channels the information will stay mostly inside the Hopr bubble. I doubt if people even will see Hopr as a token in the dropdown list for adding liquidity without pasting the contract address. Maybe not before they add it to their list. And as Pancakeswap Info is broken I’m worried a bit that the liquidity will remain unnoticed and won’t have the desired marketing effect.
Anybody thought about this or has some ideas? Maybe also a real life example of a project which moved liquidity to Pancakeswap with a measurable effect?
Hopr can apply for a farm/pool and then PancakeSwap will tweet about it, and users will see the new farm and pool.
The drawback is that we need to provide HOPR to be rewarded by staking CAKE (this is the pool).You can’t have an HOPR farm without a pool.
I plan on proposing to discuss this matter if ever the PancakeSwap dex choice is voted.
As the others have mentioned, farm and syrup pools are the way I learn about new projects on BSC. Of course, having a tweet shout out from the BSC twitter account doesn’t hurt!
I have the same concerns
Which is why I’d rather have the market places tested before committing the entire treasury to any DEX until some form of benchmark has been carried out.
Similar to someone new buying a large sum of crypto; after a purchase they’d likely test moving the crypto with a small amount to verify the procedure works before moving their entire amount. It makes sense to test everything in crypto with all the developments, so that users are armed with the best available information and methods.
The inverse to benchmarking though is equilibration, that a free market will correct itself and the liquidity.
You can name a project you noticed that way? Some kind of success story? I checked some charts of projects with active syrup pools and I am slightly underwhelmed.
I wouldn’t say that most of them are anywhere close to a success story by any means, the closest I guess would be BTCST.
However, the way I use it is to stake cake for some tokens. When the pool is finished, I go and have a look at the project to see what they are about and how their product works (or not…). If course, I don’t know if anyone else uses it like that…
So, less about listing great projects, but just a way of attracting attention and notice for some users.
Thanks for your insides. The more I get in touch with Pancakeswap the more I dislike it. Maybe I’m alone with my opinion but I’ll go with my guts on that one and drop it from my proposal.
I don’t know when they will implement it but that’s huge imho.
Wouldn’t be surprised if PancakeSwap uses it first.
Also have you tried autofarm, beefy, pancakebunny, Venus, GooseFinance…etc?
There is a whole ecosystem of defi that are basically like compound/aave/yearn but with higher APY and less fees. Some of them also innovate. Makes it earn on your Binance Pegged Coins such as Link, Eth, Ada, etc.
For the scam coins that’s for sure, but I don’t see any difference with Ethereum? There are plenty of scam coins on Eth too (dog coins, ring a bell?). And rug pulls (rug pull on BSC ends up better sometimes because of centralization actually).
BSC has plenty of good utility defi coins, no “real usage” coins like on Ethereum, but that’s not the point of BSC.
You go to BSC for staking, trading, lending etc.
@nicobao - thanks for the info. I’ll definitely check it out. Sure, there are scams on ETH to. It just feels to me like they are more dense on Pancakeswap. Even experts have some troubles to spot them ;)
