PancakeLock, bringing greater security to the Binance Smart Chain

PancakeLock has arrived on Starter for voting, what happens next, you decide

4 min readJun 5, 2021

PancakeLock aims to bring an added layer of security to DeFi on Binance Smart Chain, a blockchain now vying for the top spot as the most used blockchain in the world.

As we have seen with the rise of the Polygon blockchain and others, as hype builds around these new chains, there is an exponential influx of new projects looking to launch. This is a prime opportunity for malicious developers to rug pull, stealing all of the funds raised by their community.

Remember, as an IDO on the Starter decentralised launchpad, PancakeLock requires a net amount of 150k YES votes to pass through to the IDO stage. If you want a chance to invest in PancakeLock through Starter vote here: https://bscstarter.finance/#/pool/111

So, here is what you need to know about PancakeLock…

What is PancakeLock?

PancakeLock aims to prevent project developers from pulling an exit scam through the offering of a specialised core product offering consisting of a liquidity pool locker, team token vesting, and NFT-infused staking.

Liquidity pool locker

The PancakeLock Protocol solves the issue of PancakeSwap exit scamming by using standardized noncustodial smart contracts that locks liquidity.

Team vesting

The PancakeLock smart contracts will allow founders to create a vesting schedule for team members with specified dates that tokens will unlock.

NFT-infused staking

A unique new take on NFT utility. PancakeLock have a set of stakeable NFTs that will be offered for purchase in PancakeLock’s upcoming public sale in the Q2 of 2021. By staking the NFT on PancakeLock, liquidity providers will be able to enjoy bigger farming multiplier rewards from the fees generated on the platform.

To incentivise developers and projects to use their core services, such as their smart contract vaults, PancakeLock will offer them the opportunity to earn their token, $PLOCK.

Team

The Pancakelock team isn’t fully anonymous, it is made up of a group of developers, financial professionals and community managers who run as an anonymous DAO team.

There are core team members, half of them are based in the Bay Area. The CTO has a background working at a blockchain foundation as well as in full-stack development.

The team has also completed KYC with Assure DeFi.

Pancake Lock | KYC by Assure - KYC by Assure | OpenSea

This NFT is a sign of approval that the project owner of Pancake Lock has successfully passed a KYC by AssureDeFi.io…

opensea.io

Tokenomics

To reward and boost the value of the PancakeLock protocol. The Pancakelock token ($PLOCK) will provide various governance functions such as the ability to vote on proposals around the development and direction of the project.

Additionally, there will be beneficial DeFi rewards such as the ability to earn more $PLOCK by becoming a liquidity provider on the platform.

$PLOCK Token Distribution

Total Supply: 10,000,000 $PLOCK

Day 1 Circulating Supply: 8,500,000 $PLOCK

IDO: 5.5M $PLOCK (55%)

Public IDO price: 6400 $PLOCK/ BNB
Circulating Supply: 5.5 $PLOCK

Partners & Platform Development: 500k $PLOCK (5%)

Unlocked at a rate of 5% every month
Circulating Supply: 0 $PLOCK

Marketing 500K $PLOCK (5%)

Unlocked at a rate of 10% every month
Circulating Supply: 0 $PLOCK

Staking & Farming: 500K $PLOCK (5%)

Unlocked as needed, maximum 10k $PLOCK per month
Circulating Supply: 0 $PLOCK

Liquidity: 3M $PLOCK (30%)

Circulating Supply: 3,000,000 $PLOCK and 100% of funds raised from Public Sales will be used to lock liquidity on PancakeSwap.

IDO details

Date: 04:00 UTC 8th June, 2021
Guaranteed Allocation: Yes, 16 minutes. First come first served 04:16 UTC
Direct Link: https://bscstarter.finance/#/pool/111

Softcap: 200BNB
Hardcap: 500 BNB
IDO price: 0.0001520 BNB/Token
Listing price: 0.0001560 BNB/Token

Liquidity allocation: 95%
Liquidity locked: 1000 days

If you want PancakeLock to get to IDO then vote YES on the pool page now (min 100 START needed to vote): https://bscstarter.finance/#/pool/111

PancakeLock

Website: http://pancakelock.finance
Twitter: https://https://twitter.com/pancakelock_
Telegram Chat: https://t.me/Pancakelock
Telegram Annoucements: https://t.me/Pancakelocknews
Medium: https://pancakelock.medium.com

Starter

✉️ Telegram: https://t.me/BSCstarter
🐦 Twitter: https://twitter.com/BSCstarter
🔊 Announcements: https://t.me/BSCstarter_announcements
🚀 START Contract: https://bscscan.com/token/0x31d0a7ada4d4c131eb612db48861211f63e57610

The #1 and most active community-oriented multichain token presale platform $START https://BSCstarter.finance