I would like to propose a modified version that achieves the same goals without sacrificing the existing CAKE ecosystem participants:
1. Retirement of Revenue Sharing: Same as the existing proposal to boost the burn rate significantly.
2. Reducing Emissions: Same as the existing proposal to further increase the deflation rate.
3. Keeping the veCAKE but using the Convex model for Gauges Voting System: In this model, PancakeSwap will host the bribe market. All project partners will send their bribes to the PCS bribe market. All subDAOs will send their votes to PCS bribe market to get the respective portion of their bribes.
With this model, PCS veCAKE holders will have a fairer bribe APR as they are able to get the bribe which is proportional to their veCAKE amount.
With this model, CakePie will need to streamline their product by consolidating mCAKE and CKP into a single token. To increase the rewards for CAKEPie users, I suggest CAKEPie to increase their protocol revenue sharing with their token holders since PCS revenue sharing has been retired in order to accelerate the deflation rate.
Keeping subDAO model is important to lock the CAKE forever (subDAOs are extending their 4-year lock from time to time). It is equivalent to burning the CAKEs indirectly.
Massive unlock of CAKE is too risky for CAKE price. Instead of retiring veCAKE, we should enhance and strengthen the veCAKE model.
The subDAO ecosystem was set up by PCS team. Therefore, it is important to gain users and project partners’ trust by not breaking them. Moreover, the majority of the subDAO users are also CAKE loyalists.
4. Emissions Management: The Kitchen can keep majority of their votes in order to incentivise high trading volume LP pools accordingly. Kitchen’s votes and users’ votes could coexist so that the Kitchen is able to ensure the trading volume and burn rate are well taken care of while the bribe APR remains attractive to veCAKE holders.