So pancake swap recently slashed the staking APY heavily for the CAKE token (12% down from around 70%).
That's unless you choose their locked staking option. You can choose your lock-up period and the maximum is 1 year, where you'll be given 230% APY. This is an attractive offer but I'm not sure whether CAKE will hold its value one year from now. Traditionally, the BNB chain was the only option if one wants to interact with smart contracts but not have to pay Eth's transaction fees. But now there are many competing layer 1's.
What do you guys think?
Though the offer is very attractive and apparently tempting, I suggest for you OP think which one is safe. If you can't afford to hold or stake longer like a year, please don't do that. I'm not sure nor we can assure that the CAKE token is way good-looking and promising that staking long-term will give us a profit. We can't just neglect the possibility that it may down badly making our investment gone all of the sudden. I think it was not because of the huge offer and rewards when staking, we should have to think about the safety assurance of our investment that we never cry in vain on the latter.