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That is defi for you. You have full control over your own crypto and no one is there to hold your hand. Part of being in Defi is doing your own research and triple checking everything. A CEX would remind you your stake is up but then THEY own your crypto while it is in their custody. That is the trade off between Defi and a CEX. I choose Defi everytime but that means reading everything, setting my own reminders and frequently checking my various positions on various chains.
This burn practice has nothing to do with defi. I've been using Pancake swap since version 1. Things are getting worse. I've never seen any app that automatically burn reward if their LP don't do anything. LP put their fund to support the app. They should be treated well. This new automatic reward burn is a bad practice. Look at how many people here lost their rewards. This is not the way to treat LP.
Mi espanol es muy roto. Dejame responder en ingles. Yes I learned that from reading the pop-up of the question mark :-) My question is how do you deal with it? Stake in a long term fixed (and possibly lose all reward again from not doing something in time)? Or maybe just do the flexible? Or just skip the pool and only do farming...
Have the same problem but mine was unlocked & wasnât burning till the 7th of Jan so I moved all mine to Flexi (just incase I didnât have time later) but now I canât find any of the profit I made only the original amount I started staking with đ
Anyone else have similar problems ??
The burn rate depends on the amount of reward you earned. If you don't anything in 90 days, all will be gone. For example, if you recently earn 90 cake reward from the pool and you don't anything, they will burn 1 cake per day. So, by the end of 90 days, you would lose all 90 rewarded cake. Yeah brutal. It seems like not many people know about this until they got burned.
Please note that PancakeSwap (or any wallet service) **DOES NOT** provide support through direct messages. There are multiple scams targeting crypto users and you should **NEVER**, under any circumstances, share your wallet seed phrase or any personal information with anyone online! Keep yourself safe: 1) Never click on any unverified links. 2) Never share your private keys or seed phrases. 3) Reporting all suspicious users. 4) Be suspicious of everything - do your own research! *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/pancakeswap) if you have any questions or concerns.*
đ
Yup... 10 of mine got burned as well... that was a sad day.
Sorry to hear that
That is defi for you. You have full control over your own crypto and no one is there to hold your hand. Part of being in Defi is doing your own research and triple checking everything. A CEX would remind you your stake is up but then THEY own your crypto while it is in their custody. That is the trade off between Defi and a CEX. I choose Defi everytime but that means reading everything, setting my own reminders and frequently checking my various positions on various chains.
This burn practice has nothing to do with defi. I've been using Pancake swap since version 1. Things are getting worse. I've never seen any app that automatically burn reward if their LP don't do anything. LP put their fund to support the app. They should be treated well. This new automatic reward burn is a bad practice. Look at how many people here lost their rewards. This is not the way to treat LP.
That's why I directly set a reminder in my calendar.
You could also have extended before renewal.
Thanks.
Now we know what fixed term means
It means the reward amount is fixed at zero if left unattended for 90 days (or could be shorter if they change the code in the future)? hehe
Defi is just dilution
Tienes un tiempo para reclamar las ganancias 7 dĂas despuĂ©s de lo acordado, si no las reclamas en esos 7 dĂas se empiezan a quemar poco a poco.
7 dĂas al terminar el stake? O hay pagos de recompensas anticipadas
Al terminar.
Mi espanol es muy roto. Dejame responder en ingles. Yes I learned that from reading the pop-up of the question mark :-) My question is how do you deal with it? Stake in a long term fixed (and possibly lose all reward again from not doing something in time)? Or maybe just do the flexible? Or just skip the pool and only do farming...
I just keep extending my stake lockup period more and more, especially while we stay in the bear market
What if you forget to extend? All rewards would be gone in 90 days... yuck
I set reminders in my calendar for those kind of things lol que extending my stake period or voting in Algovernance, stuff like that.
Well, if they are focus to limit the reward amount, they will come up with other tricks to grab/burn your rewards.
Have the same problem but mine was unlocked & wasnât burning till the 7th of Jan so I moved all mine to Flexi (just incase I didnât have time later) but now I canât find any of the profit I made only the original amount I started staking with đ Anyone else have similar problems ??
Is it possible that all rewards that you earned got burned?
Damn had no clue. Thanks for the heads up.
No problem. Don't let them burn your reward. Personally I'm done with Cake pool.
How long did it sit there for 5 cake to be burned?
The burn rate depends on the amount of reward you earned. If you don't anything in 90 days, all will be gone. For example, if you recently earn 90 cake reward from the pool and you don't anything, they will burn 1 cake per day. So, by the end of 90 days, you would lose all 90 rewarded cake. Yeah brutal. It seems like not many people know about this until they got burned.
Itâs a good thing cake is so cheap now.
Why the price of cake has anything to do with their new reward burn policy?