So after locking cake for a year the time has come that I can finally unlock. This is how if went down
https://preview.redd.it/wgdbfpdt4ova1.png?width=957&format=png&auto=webp&v=enabled&s=d6fe2cddf8abde047499e0eee2d3e868a418fe79
My total cake increased by +-80% but the value of cake decreased traumatically. The current emissions of cake and market conditions is probably to blame. Even the juicy APR is not enough to give back profits.
One important lesson that I have learned this past year is that locking up your crypto and not having access to withdraw or at least withdraw your rewards is really stupid. There was some good opportunities in the year where cake pumped and I wanted to sell but couldn't due to the lock.
TLTR: Locking up your crypto for long time periods is not a smart move.
Thank you for the insight. Honestly yeah I never thought to lock mine back then, in crypto I think it is crucial to be able to dispose of your funds all the time. But hey, if it ever comes back up to a reasonable price point you would have made good money
Hi there 🤗🍰
I also locked my cake 🍰 but the lock did help me get some of my loss back at least😀 but yes , I feel the space is very different and many if us had learnt lots and so have the pancake team now as the APR is looking to get reduced.
No doubt in my mind the project is amazing and one of the most common names in crypro, also my favourite Dex 😀🍰
My other cake is locked for another 3 months, but some is unlocked tomorrow after a year too 😁
I love the project and can only see further growth I might even send some ideas to the team if I get any good ones, I see they have gone the farming route and LP which is great as it’s a win win for all, stacking is a danger to projects which is why it would be great to be low and effective and maybe profits can go to the pools to increase them when possible or something 🙂 so I do like the idea of the low Apr overall 👀
Unless you are in an ecosystem that was designed with the intentions of everyone locking it up long term, you will unfortunately have to deal with this. imo locking up traded temp profits for more potential gains next bull run. I am almost tempted to lock again for another year.
It depends on your investment horizon. You you are holding for years, it’s doesn’t matter. If you’re chasing pumps, then just do the syrup pools.
I would hold that till next bull run. At that point is when I would decide if I want to sell it all. Not now,worst time to make those choices.