Pancake Bunny
Crypto Overview
Project Overview
Pancake Bunny was a yield aggregator protocol built on the Binance Smart Chain (BSC) that aimed to optimize yields from PancakeSwap liquidity pools. The protocol introduced the BUNNY token as a governance and reward token.
Current Status
As of 2023, Pancake Bunny is effectively defunct. The project suffered a major flash loan attack in May 2021 that severely impacted its ecosystem, and the protocol has since been abandoned. The BUNNY token has lost almost all of its value and trading volume.
Historical Utility
When operational, BUNNY served as a governance token for the protocol and was used to incentivize liquidity providers. Users could stake BUNNY tokens to earn a share of protocol fees and participate in governance decisions.
Business Model Analysis
The protocol's core business model was based on yield optimization and auto-compounding strategies. While the underlying technology didn't inherently involve riba or gambling, the protocol did involve lending and borrowing mechanisms that weren't structured as charitable acts.
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