Hey PancakeSwap Community! 🥞


Exciting news! We have partnered with Binance Earn to offer the liquid staking integration for the WBETH ([Wrapped Beacon Ethereum](https://www.binance.com/en/support/announcement/binance-introduces-wrapped-beacon-eth-wbeth-on-eth-staking-a1197f34d832445db41654ad01f56b4d)) token! This means you can easily convert and swap ETH to WBETH. Our goal at PancakeSwap is to offer a user-friendly and innovative platform for the DeFi space. That's why we’re thrilled to introduce you to all the benefits of this liquid staking integration. 

**But, what is Liquid Staking?**

Liquid staking is a method that enables users to stake while still being able to use or trade their assets through a representative token. This provides both flexibility and access to the funds for other uses while still earning staking rewards.  Since the Ethereum network has finished the Merge (i.e. the consensus mechanism of ETH has been upgraded to Proof of Stake), liquid staking offers users the option to stake their ETH to earn rewards. And, unlike traditional staking methods, users can still use and have the liquidity to their ETH while it is being staked. The WBETH token solves this problem.

**So, what’s WBETH?**

Wrapped Beacon Ethereum (WBETH) is a liquid staking derivative token that represents staked ETH and its rewards. It’s a wrapped version of BETH, created by Binance Earn, that allows users to participate in ETH staking rewards from the Ethereum network. Wrapped tokens are a way to use cryptocurrencies on blockchains other than the blockchain they were originally built on while being backed by their underlying asset. 

WBETH is available for use on both Ethereum and the BNB Chain, and it offers a highly competitive 5% redemption fee on staked rewards compared to other staking providers. As one of the many ETH staking pools, WBETH is created by Binance, one of the largest cryptocurrency exchanges.

**PancakeSwap’s Liquid Staking Integration via WBETH** 


With this integration, PancakeSwap now offers the easiest and most convenient way to stake ETH. By converting your ETH directly to WBETH, you’ll receive ETH staking rewards and you can also use WBETH to transfer, trade and use on other platforms. 

Here are some of the benefits you’ll enjoy:

1- **Seamless ETH to WBETH Conversion**: Convert your ETH to WBETH at zero fees directly on PancakeSwap without the need for any third-party platform. Click [here](https://pancakeswap.finance/liquid-staking) to start exchanging ETH for WBETH on our platform or read our step-by-step guide below.

2- **Farming Rewards**: Add your WBETH and ETH tokens in our V3 liquidity pools to earn rewards and participate in the WBETH Farm.

3- **Earn Staking Rewards with WBETH**: Each WBETH token accrues ETH Staking rewards from the Ethereum Network daily, in accordance with the daily APR on the [ETH Staking service](https://www.binance.com/en/eth2). 

4- **Use your WBETH to participate in DeFi projects on the Ethereum and BNB Chain**: While accruing ETH staking rewards, you can explore other DeFi use cases including swapping, lending/borrowing, yield farming, collateralization, governance, and more. 

5- **Swap WBETH back to ETH**: With our dedicated ETH/WBETH liquidity pool, you can swap WBETH back to ETH in an instant. PancakeSwap ensures that there's always enough liquidity to facilitate fast and efficient transactions, providing a seamless trading experience for our users.

The Kitchen will work to bring more benefits from the Liquid Staking Integration to CAKE stakers and will announce it in the coming weeks and months.

**Step-by-Step Guide to Convert and Swap ETH to WBETH on PancakeSwap:**

Converting and swapping ETH to WBETH on PancakeSwap is a breeze. Here’s how to do it: 

**To stake ETH and receive WBETH:**

1- Head over to PancakeSwap and connect your wallet. Make sure you have ETH in your wallet on either Ethereum or BNB Chain network to convert to WBETH.

2-  Navigate to the "Earn" tab and select "Liquid Staking”.

![image1.jpg](https://sgp1.digitaloceanspaces.com/strapi.space/39863fce022814bc975437773f08b124.jpg)

3- Confirm the stake pair chosen is ETH/WBETH and click “proceed”.

![liquid-staking.png](https://sgp1.digitaloceanspaces.com/strapi.space/2d124b68b82ca006da0eb02aa9ad194d.png)


4- Enter the amount of ETH you want to convert and check the corresponding amount in WBETH. Reminder: The value of the WBETH token will appreciate with respect to ETH due to the staking rewards accrued. 

![liquid-staking-2.png](https://sgp1.digitaloceanspaces.com/strapi.space/ce3f92811dd1efc2834bd73bce97acc3.png)

5- Click stake to enable WBETH token. Click stake again to confirm the transaction in your wallet, and voila! Your WBETH tokens will be credited to your wallet.

![image3.png](https://sgp1.digitaloceanspaces.com/strapi.space/b62ebd261bd522815cd2f94597aaf654.png)

**To swap WBETH to ETH:**

1- Navigate to the "Trade" tab. Choose "WBETH" as the input token and "ETH" as the output token. 

2- Input the amount of WBETH you want to swap and click "Swap".

3- Confirm the transaction in your wallet, and your swapped ETH will be added to your wallet balance.

To learn more about Liquid Staking Derivatives (LSD), BETH and WBETH, please visit the following pages:


- [Binance Earn WBETH Page](https://www.binance.com/en/wbeth)
- [Binance Earn WBETH FAQ](https://www.binance.com/en/support/faq/what-is-wbeth-e252366155174ba6887f6b32e3798273)
- [ETH Staking Terms and Conditions](https://www.binance.com/en/support/faq/binance-eth-2-0-staking-terms-and-conditions-74b48ca392874849aba9560e7a8fc11b)


We are excited to see this WBETH integration provide our users with an unparalleled DeFi experience, making it simpler than ever to stake ETH to WBETH and help users benefit from the rewards of liquid staking derivative tokens. This is just the beginning, as we have more exciting features and products related to the liquid staking integration coming soon!

The Chefs are committed to continuously enhancing the platform with innovative features and products that align with the rapidly evolving DeFi landscape.

Stay tuned for more updates on liquid staking derivatives from the kitchen and thank you for being a part of our amazing community! 

Stack’em 

The Chefs 🐰




Enjoy seamless ETH to WBETH conversion and ETH/WBETH liquidity pool on PancakeSwap for both Ethereum and BNB Chain

PancakeSwap Launches Liquid Staking Integration with Binance Earn – Stake ETH and Receive WBETH to Earn ETH Staking Rewards! 

We are thrilled to announce the integration between **[PancakeSwap](https://pancakeswap.finance)** and **[Aperture Finance](https://www.aperture.finance)** to automate LP management. With this integration, users can leverage AI-powered intent-based LP management tools to optimize liquidity provision on PancakeSwap v3 pools across Ethereum and BNB Chain. Users can effortlessly automate their PancakeSwap liquidity positions (LPs), optimizing capital efficiency and minimizing the complexities associated with manual management. To celebrate the launch, there will be an APTR airdrop for PancakeSwap users; read on to learn more.

#### **What Does This Integration Mean for PancakeSwap and Aperture Finance?**

Through this integration, users can seamlessly add liquidity to PancakeSwap v3 liquidity pools on Ethereum and BNB Chain through Aperture, with the added benefit of managing their LPs through Aperture's advanced intent-based LP management tools. Likewise, PancakeSwap users can effortlessly manage their existing v3 liquidity positions with Aperture.

#### **The INTENTional Campaign: Participate in the Airdrop from Aperture**

To celebrate this integration, Aperture is offering a healthy bootstrapping of points for PancakeSwap users! 

- Any address that has LPed on BNB Chain or Ethereum PancakeSwap in the last 12 months (after 11 April 2023, ~00:00 UTC) +4,200 points

- Any address that has performed at least 1 swap on BNB Chain or Ethereum PancakeSwap in the last 12 months (after 11 April 2023, ~00:00 UTC) +2,100 points

- Snapshot was taken on 11 April 2024, around 00:00 UTC

In addition to this initial bootstrapping of points, all actions or transactions for LPs or swappers on PancakeSwap via the Aperture Dapp will receive a 3X boost on points compared to the same actions on other DEXes. For example - zapping into an LP via Aperture on PancakeSwap will generate 3X points compared to the same action on Uniswap.

The INTENTional campaign allows participants to qualify for a total airdrop pool of 42M $APTR, equal to 4.2% of the total supply. Check out more details about the INTENTional campaign **[here](https://medium.com/@aperturefinance/the-intentional-campaign-7-3307e91af884)**.

#### **How to get started with Aperture Finance**

_**For existing PancakeSwap v3 LP holders:**_ Connect your wallet to **[Aperture Finance](https://app.aperture.finance/?chainId=1)** by selecting “PancakeSwap'' and the desired chain (Ethereum/ BNB Chain). Then, navigate to the "Liquidity Positions" section to view and manage your LPs with Aperture’s tools.

_**For a new LP through Aperture Finance:**_ Connect your wallet to **[Aperture Finance](https://app.aperture.finance/?chainId=1)**. Select PancakeSwap as a DEX and your desired chain (Ethereum or BNB Chain) to add liquidity on. Follow the prompts to add your LP with advanced tools. Check out this **[guide](https://blog.pancakeswap.finance/articles/how-to-add-remove-liquidity-in-pancake-swap-v3-a-comprehensive-guide)** for broad principles on how to add LP in v3 pools.

#### **Aperture Finance offers a range of advanced features to streamline LP management:**

**1. Automated Position Rebalance:** Set triggers based on price, pool ratio, or time to rebalance LP positions automatically.

_Taking an example for reference (as shown in the screenshot below with an example)_

You can configure your rebalance parameters by selecting from three triggers: price, ratio, or time, and define your desired strategy. For example:

- **Price:** Rebalance when the token is above or below a specific price point (e.g., rebalance when BNB price is above/below $600).

- **Ratio:** Rebalance when a particular ratio is achieved (e.g., rebalance when the BNB-USDT ratio is 50:50).

- **Time:** Rebalance on a scheduled date (e.g., rebalance my BNB-USDT LP on April 20th).

Additionally, you can choose a "time buffer" for price or ratio-based triggers to ensure they only activate after a set period. For example, if you want to rebalance when BNB reaches $600 after the next 24 hours, you can set a 24-hour time buffer. _Please note that all set triggers will automatically expire after 90 days._

You can also establish a gas fee ceiling by specifying the maximum gas fee you're willing to pay, either as a percentage of your position or in dollar terms. For instance, if you anticipate high gas fees at the time of rebalancing position, you can set a gas fee ceiling to trigger rebalancing only when the fee is below a certain threshold, such as 10% of your position.

![Screenshot 2024-04-14 at 19.28.58.png](https://sgp1.digitaloceanspaces.com/strapi.space/02f72c6474a7dbbfeac25c2d8ac07088.png)

_Please note that currently, Aperture only supports LP automation when the LP (represented by an NFT) is in the user's own wallet, not when it is staked in a farm._

**2. Automated Position Closure:** Automatically remove LPs positions based on predefined criteria such as price, pool ratio, or specific dates. **For example,** if BNB reaches $600, you can withdraw all your liquidity and return the assets to your wallet or at a specified date, such as April 24th.

Similar to the previous feature of Automated Position Rebalance, you can set up triggers for position closure based on pricing, pool ratio, time, and gas ceiling cost.

![Screenshot 2024-04-14 at 19.26.37.png](https://sgp1.digitaloceanspaces.com/strapi.space/a9ed0500b629da5e03ad34c8cfdbe5ac.png)

**3. Auto-Compounding of Fees:** Reinvest fee earnings into LPs at set intervals, maximizing compound returns with optimized gas efficiency. **For example,** you can auto-compound your BNB-USDT LP fees whenever the total unclaimed fee revenue exceeds $100 (50%) and gas costs below $5 (10%).

To enable this feature, click on your position and locate the Auto-Compound button in the “Unclaimed Fees” section. Toggle to the Auto-Compound button and turn it on, then enter the minimum fee amount and maximum gas amount in dollars or as a percentage of your position. Finally, click the “Auto” button to confirm your settings.

![Screenshot 2024-04-14 at 19.43.10.png](https://sgp1.digitaloceanspaces.com/strapi.space/d3309adf8d635664672982fa39c5d300.png)

_Please note_ that Aperture will automatically compound your position at the optimal interval based on fees earned versus gas costs for rebalancing. Additionally, Aperture ensures that 100% of your fees are reinvested back into your position, with swaps performed through the same liquidity pool.

**4. Revenue Earning Limit Orders:** Create revenue-earning limit orders by providing single-sided liquidity at out-of-range prices, earning trading fees when the underlying asset's price crosses your specified price. **For example,** you can set a limit order for your BNB, selling it when the price hits 900 USDT to earn 900 USDT plus the trading fee.

To use this feature, navigate to the “Limit Orders” section and select PancakeSwap. Choose the asset you want to sell and the asset you want to buy. Specify the price you want to sell, and set a gas ceiling in dollars or as a percentage of the order. In our example below, you would sell BNB when the price reaches 900 USDT, then swap it to USDT and get 900 USDT and fees. Click 'set limit order' to complete the process.

![Screenshot 2024-04-14 at 19.52.22.png](https://sgp1.digitaloceanspaces.com/strapi.space/250bb56a85731648b7388a277144f88f.png)

_Please note_ that you must approve PancakeSwap's use of these tokens if you haven't already. After approval, Aperture will automatically close the position once your limit order has hit and the selling asset has been fully converted to your desired buying asset.

#### **Ushering a new era of liquidity management on PancakeSwap:**
Now, you can effortlessly rebalance, closeout, or auto-compound your liquidity positions based on price, ratio triggers, or predetermined time frames without constantly monitoring the markets. Manage all your PancakeSwap LPs with just a few clicks—let Aperture Finance do the heavy lifting for you!

If you have more questions, please join the respective communities of PancakeSwap ([**Telegram**](https://t.me/PancakeSwap) or [**Discord**](https://discord.gg/xBkMJdRJ)) and Aperture Finance (**[Telegram](https://t.me/aperture_finance)** or **[Discord](https://discord.com/invite/cWHQFH3GTz)**). Additionally, check out the Aperture documentation for detailed guides: **https://docs.aperture.finance/docs**

**About Aperture Finance**

Aperture Finance is a pioneering platform revolutionizing liquidity pool (LP) management through intent-based automation. Powered by innovative AI technology and a user-centric design philosophy, Aperture offers advanced solutions to streamline LP management and maximize returns for DeFi participants.

**About PancakeSwap**

PancakeSwap is the leading multichain DEX on BNB Chain, Ethereum, Aptos, Polygon zkEVM, Linea, Arbitrum, zkSync Era, Base, and opBNB. Launched in 2020, PancakeSwap is one of the most popular DEXs in the cryptocurrency industry due to its low transaction fees, high-speed trading, and user-friendly platform. PancakeSwap has over $740 billion in total trading volume and over $2.3 billion in total liquidity locked, making it the leading multichain DEX in the industry.














We are thrilled to announce the integration between PancakeSwap and Aperture Finance to automate LP management.

PancakeSwap Integrates with Aperture Finance: Streamline Your Liquidity Management with AI-Powered Intents and Join the APTR airdrop

Hey PancakeSwap Fam, 

We have teamed up with Orbs Network to develop a new feature to level your trading experience. Say hello to TWAP (Time-Weighted Average Price) and Limit orders, now seamlessly integrated into PancakeSwap's ecosystem on the BNB Chain. This feature spans all DEX liquidity sources and versions (v2, v3 StableSwap, etc.). Moreover, we're planning to extend this feature to multiple chains soon.

### **What are TWAP and Limit Orders?**
TWAP, a staple in traditional finance, is designed to break large orders into smaller trade sizes and execute them at regular intervals. This minimizes the order's price impact and allows for implementing a dollar-cost averaging (DCA) strategy. On the other hand, Limit orders empower users to buy or sell assets at a specified price or better, providing more control over trade execution.

### **Why Integrate TWAP and Limit Orders?**
- Price Impact Reduction: With TWAP, the adverse effects of high price impact on large trades or low-liquidity pairs are mitigated, ensuring better outcomes for traders.
- Automation of Dollar-Cost Averaging (DCA): Implementing a DCA strategy becomes effortless as TWAP automates the process, smoothing market volatility over time.

### **How to Get Started with TWAP and Limit Orders:**
1\. Visit **[PancakeSwap](https://pancakeswap.finance/swap/limit)** and connect your wallet to the BNB Chain.
![Screenshot 2024-04-10 at 14.51.04.png](https://sgp1.digitaloceanspaces.com/strapi.space/ae366949140d3eb83ef1973835f10a3f.png)

2\. Specify the token pair and amount you wish to trade.

![Screenshot 2024-04-10 at 14.52.27.png](https://sgp1.digitaloceanspaces.com/strapi.space/392c94d123dd77e7a5298c24ae86580c.png)

3\. Choose whether to set a limit price. Trades will execute only if the market price equals or exceeds the limit price.

![Screenshot 2024-04-10 at 14.52.33.png](https://sgp1.digitaloceanspaces.com/strapi.space/c138e81953f05ec254552a54bb34a49a.png)

4\. Determine the total number of trades and the trade interval to tailor the execution to your preference. Set the maximum duration for the order to ensure timely execution.
![Screenshot 2024-04-10 at 14.52.55.png](https://sgp1.digitaloceanspaces.com/strapi.space/91b2cd7e024464b218310087cf447a9c.png)

If you have more questions, please refer to our documentation **[here](https://docs.pancakeswap.finance/products/pancakeswap-exchange/limit-orders)**.

Empower your trading strategy with TWAP and Limit orders today **[on PancakeSwap](https://pancakeswap.finance/swap/limit)**, and elevate your trading game to new heights!

Happy Trading,

The Chef’s

Say hello to TWAP (Time-Weighted Average Price) and Limit orders, now seamlessly integrated into PancakeSwap's ecosystem on the BNB Chain

 PancakeSwap Teams Up with Orbs Network to Introduce TWAP and Limit Orders

GM PancakeSwap Community,

We are excited to announce that PancakeSwap has teamed up with Stryke (formerly Dopex) to introduce CLAMM Options Trading. This product allows the building of on-chain options liquidity and enables users to seamlessly trade options, earn premiums, and earn swap fees. This collaboration represents a significant leap forward in decentralized finance (DeFi), merging PancakeSwap's robust platform with Stryke (formerly Dopex)'s cutting-edge options protocol.

### **Overview of PancakeSwap’s CLAMM Options**
PancakeSwap’s American-style CLAMM options will debut on the Arbitrum chain, offering flexibility with diverse expiry durations (1 hour to 24 hours).
- Markets: ARB/USDC, WETH/USDC, and WBTC/USDC
- Options Types: Call & Put
- Strike Prices: Based on v3 pool ticks
- Expiry Durations: 1H, 2H, 6H, 12H, and 24H
- Exercise Conditions: Exercising positions before closure to avoid in-the-money options expiring worthless. Users can choose to enable auto-exercise to skip further actions and realize profits automatically at expiry. 

 ### **What are Options?**
![trading-campaign (34).jpg](https://sgp1.digitaloceanspaces.com/strapi.space/9391f82952ac74a1d01a4d5d0b5865f6.jpg)
Options are derivative contracts that grant buyers the right, without obligation, to buy or sell an asset at a predetermined strike price in the future. Option buyers pay a premium for this right. If market conditions are unfavorable, option buyers can let the option expire, limiting potential losses to the premium paid. Conversely, if the market moves favorably, the option can be exercised to realize profits.

Options are generally categorized into "call" and "put" contracts. With a call option, the contract buyer acquires the right to buy the asset at a predetermined strike price. With a put option, the buyer can sell the asset at the predetermined price.

### **Key Terminologies**
- Option Positions: Long (buying) or short (writing/selling), call or put options.
- Strike Prices: Locked-in prices for buying (call) or selling (put) the asset at the settlement date/expiry time.
- Expiry: Represents the time till the options contract is valid. Net settlement happens at expiry or on exercise.
- Premiums: The fee received by option sellers and the cost incurred by option buyers.
- American option: Options contract that allows traders to exercise the option rights at any time before and including the expiration day.
- Option Moneyness: This is determined through the relationship between the strike price and asset price. It is used to classify if a strike price is In-the-money (ITM), At-the-money (ATM), or Out-of-the-money (OTM).
- A call option is ITM if the asset price exceeds the strike price. A put option is ITM if the asset price is below the strike price. If a user has purchased an option at a strike that goes ITM, the user will earn profits (excluding cost of buying i.e. premium) by exercising the option.  
- A call option is OTM if the asset price is below the strike price. A put option is OTM if the asset price exceeds the strike price. OTM strikes have no intrinsic value, so exercising doesn’t make sense.

### **Types of Options:**
1\. Call Option (Buy):
- Buyers: Gain the right to buy the asset at a predetermined strike price on a specified date, with potential profits if the price exceeds the strike.
- Sellers: Undertake the obligation to sell the asset, receiving upfront premiums but facing potential losses if the asset's price rises beyond the strike.

**Example**
![trading-campaign (28).jpg](https://sgp1.digitaloceanspaces.com/strapi.space/9d89c11117be0a391a3d3303684ad803.jpg)
- On February 1, 2024, Alice initiated a buy call option at a $2,000 strike price and a $200 Option Premium. After 24 hours, Ethereum rose to $2,500. Now Alice exercises her buy call option, purchasing Ethereum at the strike price of $2,000 (lower than the current market value). Her profit is $2500 - ($2000 - $200), totaling $300, making her position in the money (ITM). 
- On the flip side, the seller, Bob, incurs a loss of $300 as Alice exercises her right to purchase Ethereum at the strike price (lower than the current market price), so he has to sell his Ethereum at the strike price of $2000, which is lower than the current market price marked at $2500.

**Risk/Reward**
![trading-campaign (29).jpg](https://sgp1.digitaloceanspaces.com/strapi.space/e3bdff0c2f38f488ac8fb40867f453e3.jpg)
The trader's (Alice) potential loss from buying a call option is limited to the premium paid. Potential profit is unlimited due to the increasing option payoff and the underlying asset price until expiration.

2\. Put Option (Sell):
- Buyers: Secure the right to sell the asset at a predetermined strike price, anticipating a decrease in the asset's price.
- Sellers: Accept the obligation to buy the asset, earning upfront premiums but facing potential losses if the asset's settlement price is lower than the strike price.

**Example**
![trading-campaign (30).jpg](https://sgp1.digitaloceanspaces.com/strapi.space/4ec80a5cce517c10c75855f54bec824f.jpg)
- Alex initiates a buy put option on February 1, 2024, with a $2,500 strike price and a $250 Option Premium. On February 2, 2024, Ethereum drops to $2,000. Alex exercises his buy put option, selling Ethereum at the strike price of $2,500 (higher than the current market value). Resulting in a $250 profit, $2500 - ($2000 - $250), making his position in the money (ITM). 
- On the flip side, the seller, Dave, incurs a loss of $250 as Alex exercises his right to sell his Ethereum at the strike price (higher than the current market price), so Dave has to buy Alex’s Ethereum at the strike price of $2500, which is higher than the current market price marked at $2000

**Risk/Reward**
![trading-campaign (33).jpg](https://sgp1.digitaloceanspaces.com/strapi.space/1df52b39dfea566a7ccd9117d194e371.jpg)
The potential loss on buying a put option is limited to the premium paid for the options. The maximum profit from the position is capped because the underlying price cannot drop below zero; options are a highly leveraged instrument, and even a capped upside return when buying put options allows users to maximize gains on their capital.

### **Decoding the CLAMM Options: A Liquidity Game-Changer**

Crafted by the Stryke (formerly Dopex) team, the CLAMM options protocol introduces an efficient dual liquidity provision system for options traders (buyers) and PancakeSwap v3 pools. Here's a breakdown of how it operates:
- **Liquidity Addition:** Users adding liquidity to CLAMM options simultaneously contribute to the designated PancakeSwap v3 (CLAMM) pool within their chosen price range.
- **Options Trading:** When an options trader (buyer) initiates a position, the liquidity is extracted from the v3 pool to facilitate options selling. The user thereby becomes an options seller and receives a premium.
- **Idle Liquidity Management:** The unutilized liquidity resides in the PancakeSwap v3 pool, potentially earning trading fees as long as the pool price remains within the liquidity range.
- **Consistent Payoff:** The payoff from selling options and providing liquidity in a v3 pool mirrors the same IL or token balance, ensuring users face no increased risk compared to the conventional method of adding liquidity to v3 pools.
- **Minimal Risks:** Users face fewer risks, as liquidity might remain un-utilized due to lower options buying demand. Additionally, since liquidity is added to the pool in an inactive range, it might not earn any fees.

Refer to our **[step-by-step guide](https://blog.pancakeswap.finance/articles/how-to-provide-liquidity-on-pancake-swap-s-clamm-options)** on how to add liquidity to PancakeSwap CLAMM Options.

### **How Can I Start Trading Options on PancakeSwap?**

Refer to our **[step-by-step guide](https://blog.pancakeswap.finance/articles/how-to-trade-options-on-pancake-swap)** for participating in PancakeSwap’s Options Trading.

### **The Start of Something Even Bigger**
This collaboration marks a significant stride forward, delivering diverse trading opportunities for users and elevating fee-earning potential for liquidity providers. Join us on this transformative journey as we redefine DeFi trading with PancakeSwap and Stryke (formerly Dopex), where each trade unfolds new possibilities and rewards.

Stack’em

The Chefs

PancakeSwap has teamed up with Stryke (formerly Dopex) to introduce CLAMM Options Trading.

Introducing CLAMM Options Trading on PancakeSwap in Collaboration with Stryke (formerly Dopex)

1\. Go to the PancakeSwap **[Options page](https://pancakeswap.stryke.xyz/)** and connect your wallet
![Screenshot 2024-03-27 at 21.21.53.png](https://sgp1.digitaloceanspaces.com/strapi.space/83525e408205c13bc2d7d7d30fdfc396.png)
2\. Select the token pair you would like to trade
![Screenshot 2024-03-27 at 21.23.57.png](https://sgp1.digitaloceanspaces.com/strapi.space/14b2575ab0d124871ad8d317dee4b2a2.png)

3\. All available options will be listed based on your selected pairs, you can select “Calls” or “Puts”. 
![Screenshot 2024-03-27 at 21.27.19.png](https://sgp1.digitaloceanspaces.com/strapi.space/b1faaa4bd0e276d4b86c672a877817be.png)
4\. Select your strike price. Click the ‘+’ symbol to add it to your trade, or directly navigate to the trade tab and select through the dropdown menu.
![Screenshot 2024-03-27 at 21.35.40.png](https://sgp1.digitaloceanspaces.com/strapi.space/9c43bf40d2390436bf73a212de4d9c90.png)
![Screenshot 2024-03-27 at 21.36.26.png](https://sgp1.digitaloceanspaces.com/strapi.space/0fddcd89d251646c742cd81d4dbb9283.png)

5\. Select the expiry duration: 1H, 2H, 6H, 12H, or 24H. 
![Screenshot 2024-03-27 at 21.39.56.png](https://sgp1.digitaloceanspaces.com/strapi.space/8bb78f1e771c41d5ae3220a8e9ccd511.png)

6\. Enter the amount of options you would like to purchase. The total cost of the trade will be displayed accordingly. 
![Screenshot 2024-03-27 at 21.42.12.png](https://sgp1.digitaloceanspaces.com/strapi.space/2c47b37e848eedd1706996fd5cd3806b.png)

7\. Decide if you would like to enable Auto Exercisers. 
- Enabling it will allow you to execute your options 5 minutes before expiry. 
- If you do not enable it, you must manually exercise options - even if they are ITM at expiration.
![Screenshot 2024-03-27 at 21.47.03.png](https://sgp1.digitaloceanspaces.com/strapi.space/b8162b6f6ae7d9eaa0305eda1679be1a.png)

8\. Review your setup and click “Approve” and “Purchase” if you're happy with it. 

9\. If you would like to view your opening(s) and/or completed positions, navigate to the bottom of the page and select “Buy Positions” or “History”
![Screenshot 2024-03-27 at 21.49.02.png](https://sgp1.digitaloceanspaces.com/strapi.space/b5a9e4a6789b027bf0a1f07728c16464.png)

How to Trade Options on PancakeSwap

1\. Go to the PancakeSwap **[Options page](https://pancakeswap.stryke.xyz/)** and connect your wallet. 
![Screenshot 2024-03-27 at 21.21.53.png](https://sgp1.digitaloceanspaces.com/strapi.space/83525e408205c13bc2d7d7d30fdfc396.png)
2\. Select “Liquidity Provision” on the navigation bar
![Screenshot 2024-03-27 at 21.55.08.png](https://sgp1.digitaloceanspaces.com/strapi.space/60242c1930a3fde3ef2e894a9309dcc9.png)

3\. Click  “Call strikes” or “Put Strikes” and select your desired strike price from the dropdown menu.
![Screenshot 2024-03-27 at 21.57.27.png](https://sgp1.digitaloceanspaces.com/strapi.space/a98ceab9904ebf7bab8a61b159412494.png)

4\. Enter the amount of tokens you would like to deposit. Review your setup; if you're happy with it, click ‘Deposit’ and confirm the transaction. 
![Screenshot 2024-03-27 at 22.03.27.png](https://sgp1.digitaloceanspaces.com/strapi.space/28e26e2598b8deb59dce1c7dd5ef8e97.png)

5\. If you would like to view your opening(s) and/or completed positions, navigate to the bottom of the page and select “LP Positions” or “History”
![Screenshot 2024-03-27 at 22.05.28.png](https://sgp1.digitaloceanspaces.com/strapi.space/de40c609de80da018c1c1a55c2235312.png)

- If your liquidity is not currently utilized, you may click ‘Withdraw’ at any time to withdraw your position.
- You may also withdraw multiple positions at the same time by selecting the check box and clicking ‘Withdraw All’.

How to Provide Liquidity on PancakeSwap’s CLAMM Options

In our March 2024 report, we explore the world of CAKE token supply management on PancakeSwap. Learn how PancakeSwap reduces the total supply of CAKE through strategic burns and the pursuit of ultrasound CAKE.

### **CAKE Total Supply Reduction:**
As of  April 2nd, 2024, PancakeSwap has successfully burned 0.189% of the CAKE total supply for March 2024. To calculate this percentage, we divided the total net mint of -731,042 CAKE by the initial total CAKE supply on March 4th, 2024. This marks the seventh consecutive month of CAKE total supply reduction, with a cumulative -2,103,059 CAKE net mint over September, October, November, December 2023, January, February, and March 2024. 

### **Achieving CAKE Total Supply Reduction through Net Minting:**
In April 2024, PancakeSwap achieved a net mint of -731,042. This negative net mint indicates that more CAKE tokens were burned than minted during the month.

### **March Mint Breakdown**
- Farms: 816,702
- CAKE Syrup Pool: 117,600
- Other Product Usage: 123,962
- Total March Mint: 1,058,264

_Please note that we have excluded CAKE mints that directly contribute to burning, calculating the mint based on raw CAKE/block emission (including emission changes over the months) for a precise monthly mint estimate._

### **March Burn Categories**
- Swaps and Perpetual Trading Fees: 1,470,456
- Prediction: 190,134
- Pancake Protectors: 5,296
- Lottery, NFT Market, Profile & Factory: 123,420
- Total March Burn: 1,789,306

_Note: To ensure accuracy, we pro-rate weekly CAKE burns over two months. For example, burns occurring at the end of March and stretching into April receive a proportionate allocation between the two months._

### **Proof of Burn for March:**
- March 6: **[Link](https://bscscan.com/tx/0xddfc376c4cf0b13d02cc5feaaebbe084be4529a9c5db69be09777369dc312681)**
- March 11: **[Link](https://bscscan.com/tx/0xdf7c1def8b6f00e7a9c31e381fc045f82a4d53172f132c6e9098806293613abf)**
- March 18: **[Link](https://bscscan.com/tx/0xa5861c373be4ae42126094baea795553fb3c96994d8ca69ee2f650fb47124ac4)**
- March 25: **[Link](https://bscscan.com/tx/0x36d7c2768daca14123ac8d00882ff69ad826340557adbd1ab8f1fa2e3f6daad4)**
- April 2: **[Link](https://bscscan.com/tx/0xa486253829e13db5851890a04fd1bef6583b4092ff13d8e572bbd715deeb78a9)**

In our March 2024 report, we explore the world of CAKE token supply management on PancakeSwap.

Let’s start swapping!

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