PEPE/USDT Liquidity Pool on BSC Added by PancakeSwap (CAKE)

The team of PancakeSwap ($CAKE), the largest and most popular decentralized cryptocurrency exchange on $BNB Smart Chain, shared the details of the novel opportunity unlocked for $PEPE enthusiasts.

Pepe ($PEPE) yield farming is available on PancakeSwap's ($CAKE) new pool

Starting from May 22, 2023, a liquidity pool with Pepe ($PEPE) meme coin and U.S. Dollar Tether ($USDT), the largest Dollar-pegged stablecoin, is available on PancakeSwap ($CAKE) DeFi. Such a statement was made by PancakeSwap ($CAKE) on its official media channels.

🥞 The Pepe (@pepecoineth) v3 Farm is now live on BSC PancakeSwap!

🧑‍🌾 Stake $PEPE-$USDT (0.25% fee tier) to Earn $CAKE here: https://t.co/txwZlLgGno

❗ $PEPE is a highly volatile token, please do your own research

ℹ️ If the APR is loading, it means there is no LP in the Farm… pic.twitter.com/70ysn0tUtH

— PancakeSwap🥞Ev3ryone's Favourite D3X (@PancakeSwap) May 22, 2023

As such, users are now able to inject liquidity in Pepe ($PEPE) and $USDT in order to get periodic payouts. By press time, the pool offers almost 200% in APY, which should be attributed to its small size. So far, $PEPE enthusiasts have locked about $65,000 in liquidity.

The pool is incentivized by PancakeSwap ($CAKE): its liquidity providers will share 6.9 $CAKE (about $13) per $BNB Smart Chain block.

The community of $PEPE appreciated the launch. The fans of meme coins are asking the PancakeSwap ($CAKE) team to also release farms with LADYS coin, recently promoted by Elon Musk.

Like the majority of the pools based on early-stage altcoins, the one with $PEPE and $USDT is added to the category of "yield farming" instruments with 0.25% fees.

$PEPE again in red after yesterday's whopping intraday rally

The PancakeSwap ($CAKE) team stressed that, like all meme coins, $PEPE is exposed to high volatility. Thus, users should be super-cautious and always do their own research.

Currently, the majority of operations with $PEPE take place on centralized exchanges Binance ($BNB), KuCoin (KCS) and Kraken. However, it is also available on PancakeSwap ($CAKE) and Uniswap (UNI).

Despite the excitement about the liquidity pool on PancakeSwap ($CAKE), the token is changing hands at $0.00000153, being down almost 9% in the last 24 hours. Its market capitalization exceeds $600 million in equivalent.