CAKE is the native crypto asset of the Pancakeswap ecosystem. It functions as the platform’s governance token as well as a major component in providing liquidity for trading. In this blog post, we will talk about PancakeSwap, and more importantly, share with you the best 3 places to stake the Cake token.
Table of Contents
What is PancakeSwap (Cake)?
Before mentioning the top places to stake Cake, it is a good idea to start by explaining what PancakeSwap is and how it works.
PancakeSwap is a decentralized exchange that allows users to trade cryptocurrencies directly from their wallets without intermediaries. It incorporates innovative features to enhance efficiency and reduce costs for both traders and liquidity providers.
Moreover, it also has its own native token, CAKE, which plays an important role in the PancakeSwap ecosystem. CAKE tokens are used for various purposes, including trading, staking to earn rewards, and participating in governance decisions that shape the future of the platform.
PancakeSwap’s vision centers around creating a user-friendly and accessible decentralized finance (DeFi) platform that empowers users to engage with the world of cryptocurrency in a seamless and rewarding manner.
Let’s take a look at some of the key metrics related to PancakeSwap as of Jan 12, 2025.
- Current Price: CAKE is currently trading at QAR 8.41.
- All-Time High: The highest price ever recorded for CAKE is QAR 161.46.
- Market Cap: PancakeSwap currently has a market capitalization of QAR 2.45 billion, indicating high market demand for the token.
- 24-Hour Trading Volume: In the last 24 hours, CAKE has seen a trading volume of QAR 215.75 million.
- Circulating Supply: There are currently 292 million CAKE tokens in circulation.
What is Cake Staking?
Cake staking, in simple words, involves locking up your CAKE tokens within a smart contract. In return for this commitment, you earn rewards in the form of protocol fees and newly issued CAKE tokens.
This process allows you to earn passive income by contributing to the security and stability of the PancakeSwap ecosystem.
Cake Staking Methods
If you are interested in staking Cake, there are three methods that you can try:
- Centralized Exchanges: Staking CAKE on exchanges can yield attractive Annual Percentage Returns (APRs) by locking your tokens within the exchange’s platform.
- Liquidity Pool Provision: In addition, you can directly stake your CAKE tokens by providing liquidity to PancakeSwap’s liquidity pools. This method allows you to earn rewards by contributing to the smooth functioning of the trading platform.
- Hot Wallet Staking: Specialized hot wallets offer another option for staking CAKE. By locking your tokens within these wallets, you will earn regular rewards.
Best Places to Stake Cake in 2025
If you are planning to stake your Cake tokens, you only have a few options available. These platforms – Exodus Wallet, Trust Wallet, and Metamask – will be explained below.
| FEATURES | Exodus Wallet | Trust Wallet | Metamask |
| Type | Multi-chain wallet | Non-custodial wallet | Ethereum-focused wallet |
| Staking | Integrated staking features | Staking via PancakeSwap integration | Integrated staking with third-party services |
| Accessibility | Desktop clientMobile appsBrowser extension | Mobile appsBrowser extension | Browser extensionMobile apps |
| Security | High security with multi-factor authentication | Open-source, relies on user security measures | Security measures in place |
Exodus Wallet
Exodus Wallet is a popular choice for staking CAKE given its focus on efficiency and user-friendliness. As a multi-chain wallet, Exodus supports a wide range of blockchains and enables users to store and manage cryptocurrencies from various networks within a single, integrated platform.
Positioning itself as the only wallet you’ll ever need, Exodus offers a comprehensive suite of features, including secure storage, convenient cross-chain swaps, and integrated staking options. Moreover, you can interact with web3-enabled applications directly through the wallet interface.
One of the best features of Exodus is that it is accessible across various devices, with dedicated apps for both Android and iOS, a user-friendly desktop client, and a convenient browser extension.
Furthermore, Exodus seamlessly integrates its various platforms, allowing users to link their Exodus apps and browser extensions.
Trust Wallet
Another option that you have for staking your Cake tokens is Trust Wallet. This non-custodial wallet supports an extensive range of over 1 million crypto assets across various blockchains. Furthermore, Trust Wallet gives users the chance to buy and sell cryptocurrencies, trade NFTs, and seamlessly transfer tokens within the platform.
However, staking CAKE through Trust Wallet follows a unique approach. Instead of offering its own staking mechanisms, Trust Wallet facilitates access to PancakeSwap staking pools.
This involves a few steps: users download the Trust Wallet app, swap their BNB for CAKE tokens within the app, utilize the built-in DApp browser to access the PancakeSwap platform, locate the appropriate liquidity pool, and initiate the staking process.
Despite the benefits that Trust Wallet offers, some users have concerns regarding its security and accessibility. As an open-source wallet, Trust Wallet primarily relies on users to safeguard their assets.
This means that the absence of robust security features, such as multi-factor authentication, is likely to increase the risk of unauthorized access and potential hacks. On the other hand, Trust Wallet’s decentralized nature appeals to users who prioritize privacy and independence from centralized exchanges.
Metamask
MetaMask is another platform that offers a convenient platform for staking CAKE tokens. Available as both a browser extension and a mobile application, MetaMask allows you to buy, sell, and swap cryptocurrencies, and interact with decentralized applications (dApps).
It also provides you with the option to stake your assets directly within the wallet through integrated third-party services.
Furthermore, MetaMask provides access to a vibrant NFT marketplace that helps users discover, buy, and sell NFTs seamlessly through both the mobile app and the browser extension.
Which One is the Best Place to Stake Cake?
When it comes to staking CAKE tokens, Exodus Wallet overall presents a more user-friendly and potentially more secure option. Exodus, with its multi-chain support and integrated staking features within the wallet itself, offers a streamlined experience for users.
While Trust Wallet offers extensive cryptocurrency support and Metamask excels in the Ethereum ecosystem, both present potential security concerns.
Trust Wallet, as an open-source wallet, relies heavily on user discretion for security measures, and Metamask, despite its security features, still carries inherent risks associated with any software wallet.
At the end of the day, the best option here depends on your priorities. If user-friendliness, security, and a multi-chain approach are important to you, Exodus is the preferred option.
On the other hand, if extensive cryptocurrency support and deep integration with the Ethereum ecosystem are your main priorities, Trust Wallet or Metamask could be more suitable.
Final Words
Staking contributes to the success of DeFi protocols such as PancakeSwap and offers quite a few advantages to both investors and the network itself. By staking your tokens, you not only earn rewards in the form of protocol fees and token emissions but also gain valuable governance rights.
Keep in mind though that before making any staking effort, do rigorous research and carefully evaluate individual risk tolerance and your investment goals.
