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Binance Smart Chain’s leading decentralized exchange, PancakeSwap, prepares for massive updates involving the migration and retirement of multiple Syrup Pools.
The move comes as the DEX prepares for an upcoming BSC mainnet upgrade scheduled for 29 April 2025.
📢Heads up, PancakeSwap fam 🟡With the upcoming BSC mainnet hardfork on April 29, we’re making key updates to Syrup Pools on BNB Chain: 🔹10 pools will be deprecated on Apr 28, 12PM UTC 🔹8 pools will migrate to new contracts on Apr 29, 12PM UTC 🔹Action required: To keep
PancakeSwap has adopted a proactive approach to ensure compatibility with the update chain.
Thus, the trading platform will suspend old Syrup Pool contracts and migrate assets to advanced ones.
Notably, the Syrup Pools enable individuals to stake PancakeSwap’s native coin, CAKE, and receive incentives in other assets.
With the upcoming BSC hard fork, these contracts require updates to avoid malfunctions.
PancakeSwap to deprecate 10 Syrup Pools
The DEX has confirmed that it will denounce ten Syrups Pools to support Binance Smart Chain’s upgrade.
The deprecation will occur on 28 April, a day before the anticipated mainnet upgrade.
“Stake CAKE to earn LTP” pool will be among the impacted features.
Individuals with staked CAKE in these pools should unstake their assets after the deprecation timeframe.
While staking will halt at the specified time, interested users can still withdraw their tokens manually.
Nevertheless, there will be no reward accumulation post-pools suspension.
Meanwhile, users should remain alert to avoid missing out on re-staking on the updated pools.
PancakeSwap’s move displays its dedication to protecting user assets and ensuring a smooth migration process.
The decentralized exchange highlighted that the changes are purely technical and not linked to organizational changes or security concerns.
PancakeSwap to Migrate 8 Syrup Pools
The platform will move eight Syrup Pools to updated smart contracts post-deprecation.
“Stake Cake to earn KOMA” is among the pools scheduled for migration, with others set to be announced as the hard fork approaches.
PancakeSwap will redeploy these pools using the new contracts.
Notably, users will have to re-stake the CAKE assets in the updated pools to start receiving incentives.
CAKE price outlook
The native coin rallied as the update news unfolded, potentially fueled by the latest broad-based rebound.
CAKE trades at $2.12 after soaring over 8% in the last 24 hours.
Chart by CoinMarketCapIts soaring daily trading volume indicates renewed investor optimism in the token.
Maintaining the current stance could open the path to the March 22 swing high of $2.84.
That would mean a nearly 35% surge from PancakeSwap’s current price.
Analyst Cihan Turkmen issued a more optimistic outlook.
He highlighted CAKE’s looming triangle pattern breakout.
Turkmen believe a daily candlestick closing above the $3.560 mark could trigger explosive gains toward $9.50.
$CAKE A triangle pattern is nearing a breakout point. 🔹 A daily close above $3.560 may lead to a rapid move toward the $9.50 region. 🔹 On the flip side, if the triangle breaks downward, the $1.50 zone becomes a critical support — and a daily close below it could bring serious
However, potential bearish slides and closing beneath the vital barrier at $1.50 will halt the anticipated short-term CAKE rally.
Enthusiasts should watch broad market sentiments.
Digital assets trade in green on Friday as Bitcoin teases a break above the key resistance of $95K, beyond which it will shift the entire market trajectory to bullish.
BTC hovers at $94,840 after rallying 2.30% and 12.40% the previous day and week.
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