Simple Staking can be broken down into 3 steps - Staking, Earning, Claiming
Here is the step-by-step guide on how to start simple staking:
Select pool for Simple Staking - PancakeSwap Simple Staking comes in 3 different pools for every token (30, 60 and 90 day). Stablecoins such as USDC or USDT will only support 30 day pools. Users who lock their tokens in the longer period pools will receive more daily rewards and higher APR.
Deposit Tokens - Select the amount of tokens to deposit into the staking pool. Please note that there’s a minimum amount to stake depending on the token. For users who have staked 100 CAKE in the CAKE Syrup Pool, note that you’ll be able to enjoy the Locked CAKE boost. For more information on the CAKE Syrup pool, please visit the Fixed Staking guide.
Confirm and Stake token - Confirm details and stake token. You will receive a notification.
Earning Interest - Interest rewards are accrued daily. Please check your position by clicking the info button for more details.
Claim/Restake/Unstake - At the end of staking period, users can choose to claim rewards and unstake their tokens.
5.1 Click “Claim” button on the position, which will appear after lock period is up
5.2 Select “Claim Reward and Restake” to create a new simple staking position with the same token amount. Otherwise, select “Unstake” to withdraw all rewards and tokens back to your wallet.
5.3 Review details and confirm Unstake
Add Position - Users can add position while their positions are locked. However, the staking period will reset for the specific lock period.
6.1 Select the current staking position and click the “+” icon
6.2 Select the number of tokens to add and review the new staking position
Click confirm to complete add position
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