Yes staking the coin is one of the most popular option to earn passive income in the crypto currency world. Cake offers a very good ROI so it is a very good option. But I recommend staking in multiple coins as there are many different options for you like bnb , cardano as you said.
in pancakeswap, you can stake the CAKE you have to get other tokens.
which maybe not be many alternatives like this exist on other platforms.
now the adoption of CAKE is also improving. I staked $300 in CAKE. I got my share well. I enjoy it all.