We've made perps simple. And if your first trade goes south, it's on us.
Ever been curious about perpetual trading but haven’t ever tried it out? We get it - nobody likes losing out, especially on their very first trade. That's why we're making it so you’ve got nothing to lose: if your first perps order on PancakeSwap ends in a loss, we'll reimburse it. No tricks, no complicated sign-ups. Just a safety net for your first step into perps.
Starting today, every perps trader on PancakeSwap gets their first realized loss reimbursed - up to 10 CAKE. No application, no waitlist. You trade, and if it doesn't go your way, we pick up the tab.
Campaign duration: Tuesday May 19th at 14:00 UTC through next Tuesday, May 26th at 14:00 UTC.
Here's the deal: open your first perpetual trade on PancakeSwap Perpetuals [New], https://pancakeswap.finance/perps, and we’ll reimburse your first order loss in CAKE if you meet the requirements. Simple as that.
Notional value is simply your collateral multiplied by your leverage - think of it as the total size of your position. On PancakeSwap UI: Notional Value = “My Bet” x “Leverage”. E.g. if your "My Bet" placed is $10, and you use 10x leverage, then your notional is $100 and you meet the requirement. Your maximum loss will be $10 (your entire collateral) as well in this case.
If your loss is less than 10 CAKE, you get your full loss back in CAKE. If your loss is larger - say $250, you get the max of 10 CAKE. The minimum loss required for coverage is 0.1 CAKE.
This covers your first realized loss only. If your first order wins and your second order loses, the second order is what gets reimbursed - it's tied to your first loss, not your first trade.
The window is Tuesday May 19th 14:00 UTC through next Tuesday May 26th at 14:00 UTC. Anything outside that range doesn't qualify.
Example 1: $5 USD collateral at 100x leverage = $500 notional. If lose 50% = $2.5 USD, reimbursement = $2.5 USD in CAKE. If lose 100% = $5 USD, reimbursement = $5 USD in CAKE
Example 2: $500 USD collateral at 1x leverage = $500 notional. If lose 50% = $250 USD, reimbursement = 10 CAKE.
Your trade must be filled and closed within the campaign window to qualify.
Q: What if my first trade is profitable?
A: Congratulations! You keep the profit. The reimbursement applies to your first realized loss, not necessarily your first trade. So if trade #1 wins and trade #2 loses, your second trade's loss gets covered — as long as it's your first loss.
Q: What if I open on PancakeSwap but close somewhere else?
A: Both the open and the close must happen on PancakeSwap. Trades closed on other platforms won't qualify.
Q: Do I need to do anything to claim the reimbursement?
Eligible reimbursements will be distributed to your wallet by the week of May 28th, and not automatically distributed through the perps page.
Note: This campaign reimburses your first loss to help you learn the ropes. Your trading decisions and their outcomes are your own responsibility. This content is for educational purposes only and is not financial, investment, or trading advice. DYOR.
Your first loss is covered. Simple Mode is live. There's never been a better time to see what PancakeSwap Perps is all about.
Trade now.