What happens if I do not withdraw after lock period ends?
Once the lock period ends, users will be able to withdraw their staking rewards and principle amount. If a user does not withdraw, the funds will still receive flexible daily rewards, which have a lower payout than locked staking rewards.
What are the fees for early withdrawal?
Should you choose to withdraw your funds early, schedules and penalties are as follows:
Withdrawl Fees/Pool | 30 Day | 60 Day | 90 Day |
No Withdrawal | First 10 Days | First 20 Days | First 30 Days |
15% of deposit amount | 11-20 Days | 21-40 Days | 31-60 Days |
2% of deposit amount | 21-30 Days | 41-60 Days | 61-90 Days |
No Fee | 30 Day Unlock | 60 Day Unlock | 90 Day Unlock |
For more clarity on how the days are counted, refer to the following example of a 30D pool starting Oct 1 at 11:00hrs:
From Oct 1 11:00hrs to Oct 11 11:59hrs -> No Withdrawal
From Oct 11 12:00hrs to Oct 21 12:00hrs -> 15% Fee
From Oct 21 12:00hrs to Oct 31 11:59hrs -> 2% Fee
After Oct 31 12:00hrs -> No Fee
How are daily rewards accrued by PancakeSwap?
PancakeSwap is offering Simple Staking in partnership with Binance Earn. By using PancakeSwap Simple Staking, your funds will be managed by Binance Earn for the locked period.
Assets may be used for on-chain staking in a tightly controlled manner. Binance may stake through official staking pools, or operate validators and nodes to participate in Proof-of-Stake (POS) network staking. The staking pool selection is determined via stringent risk assessment protocols. Validators and nodes operated by Binance are set up with security as the utmost priority.
Binance may also run promotional campaigns from time to time that are sponsored by partnered projects in order to attract more users.
How do PancakeSwap and CAKE Holders benefit from this?
PancakeSwap takes a small % of APR rewards for offering the service to our users. This will be converted into CAKE and burnt. For CAKE holders, fixed-term CAKE stakers will receive boosted APRs if they have locked at least 100 CAKE.
What happens in the withdrawal process when "Withdrawal approval is pending"?
Once withdrawal/unstake is requested, users will receive the funds in their wallet along with the principal amount. If you receive a "Withdrawal approval is pending" alert, it represents a slight delay during the withdrawal due to an administrative process. Users will have to request unstake in a couple of hours and will receive the funds on the same day.
What's next for Simple Staking?
The next plan for Simple Staking is to offer more tokens and have the product go multichain in Q4.
