Using the Cake-LP token obtained from providing liquidity.

Hello Reddit, I come to you in a time of great need.

I am new to decentralized exchanges but I know a bit about crypto.

So, I've provided liquidity for a relatively obscure pool WPKT/BNB. In exchange for this I have received something called “Cake-LP”.
1) The “benefits” obtained from providing liquidity in this case would come in the form of WPKT or BNB from the people that trade on set pool. Is this correct?

2) What is this “Cake-LP” that I've revived then? Do I need it, to take back the tokens that I've put in the pool?

3) I see people on the internet using the LP they revive to put them in the “Farms” section of the website and earn extra income. But I see no “farm” for the LP token I have. (the terminology might not be correct here, again I am confused what this “Cake-LP” is and how to use it)

Using the Cake-LP token obtained from providing liquidity.

5 thoughts on “Using the Cake-LP token obtained from providing liquidity.”

  1. 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
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    Keep yourself safe:

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  2. The Cake-LP is your share of the pool. That’s how the pool remembers how much of it you own. You’re welcome to send it to a different address, for example, if you want to.

  3. My recommendation, never provide liquidity to a shady obscure LP. Its a good way to get rugged

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