Unstake to V2? Question

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#1

Good day,

Based on Wsb twitter tweet,

Users will need to unstake :pick: and select :ballot_box_with_check: V2 pools to reap :ear_of_rice: the rewards :trophy:

so if i unstake i will have impermanent loss since bnb goes down. i will lost 50% of what i deposited on bnb.

do i really need to unstake?
if we continue only V1 farming then i will not have impermanent loss on bnb until farming is finish.

if there’s a button that automatically migrate my farm to v1 to v2 without having impermanent loss then that is also great.
as long the farmers don’t get any losses in migrating to v2 then all will be good.

2 Likes
#2

I believe there will be a smooth transition from V1 to V2 without necessarily unstaking to avoid IL.

#3

As far as I can understand you can only have impermanent loss when you pull out your LP points. While in this case, we would unstake our LP points from V1 pool and move them to V2 pool, which should not bring loss.
But don’t take my words as granted, I’m fairly new to DEFI system.

#4

Should i unstake my wsb-cake Farming on Betty’s? As i canr remember that old farming whether on V1 or V2 ? what should i do now to evade impermanent loss ?

#5

I think wait for now and there will be instructions released - from what I have read elsewhere.

#6

I think we will move lps to V2… So we don’t have to convert lps into WSB, BNB, BUSD or CAKE

#7

Some admins on Telegram have confirmed that we’ll be able to easily transfer the LP tokens, so on Impermanent Loss will be realized. Except, of course, for the CAKE-WSB pair which will be removed in V2.

I will personally be using the CAKE from the CAKE-WSB pair to buy more WSB and stake the WSB.

1 Like
#8

Love the commitment to WSB!!

#9

First of all, unstaking the LP and restaking it in a different pool is different from “breaking” the LP. Only “breaking” the LP causes the IL to become “permanent.”

Second, there is no (or basically no) “permanent loss” from the IL if you were to break the LP and reform it almost immediately, even if that was required. Probably something for tax consequences based on your jurisdiction, but if you had to break and immediately reform, barring a 10x during the 30 seconds you are reforming the LP, you’re right back into the pool with the same ratios.

1 Like
#10

hello again,
i have question.

do i need to unstake before or after the V2 launch?

#11

You can wait until after if you’d like. The ability to unstake will be open for a period of time to allow everyone to migrate.

#12

No you do not. The transition is flawless.

1 Like
#13

You do not need to unstake from pancake.

You simply need to move from our contract v1 to contract v2. This will not change anything about your LP tokens, just reward you for having them, because as a project it is very helpful for users to supply liquidity.

#14

Agreed - it was very smooth indeed.

Just had to remember the no decimals thing!

#15

thanks everyone…
V2 is a great success!
alreasy staking and farming with bnb /wsb.