Staking CAKE on the PancakeSwap Pottery

The PancakeSwap Pottery is like normal staking but a portion of the staking rewards from the CAKE deposited will fill a prize pot and there will be one weekly draw. The current staking APY is 4,98%.

How does it work?

On deposit the CAKE will be locked for a duration of 10 weeks, the odds of our address winning the prize pool is simply proportional to our CAKE deposit over the total CAKE deposit of the whole Pottery. Each week, eight (8) addresses are drawn randomly based on their odds.
=> Simply put, if user A deposited 1 CAKE, user B deposited 2 CAKE, then user B's odds of winning is twice of user A's. There are currently about 800 - 900 players, which equals 420 CAKE per player on average. The current price pool is $4.4k, leading to a win of $550.

Chances for the voting options (10 / 20 / 50 weeks):

• The odds of winning with an average deposit in the 10 weeks are 1 - 0,99^10 = 10% (1 lock period)
• The odds of winning with an average deposit in 20 weeks are 1 - 0,99^20 = 19% (2 lock period)
• The odds of winning with an average deposit in 50 weeks are 1 - 0,99^50 = 40% (5 lock period)

Amount of CAKE and personal opinion

CAKE recently fell by about 50% due long term staked cake being due, causing it to be oversold. Therefore I propose to invest $3000 into CAKE and use the recent fall in price to top up our position. This amount would be by the time of the proposal 1680 CAKE which is 4x the average locked CAKE in the pottery, greatly increasing our chances.