Overview
Epoch 25 ended with 32,157,996 veCAKE votes, a slight decrease from 33,031,111 in Epoch 24.
Epochs 26, 27, and 28 ended with 32,028,733, 31,915,525, and 27,171,083 veCAKE votes respectively.
Epoch 28 saw a decrease in veCAKE votes as we migrated to a new gaugeVoting smart contract to enhance its functionality.
We appreciate the enthusiastic adoption of veCAKE, and would like to encourage community members and project teams to apply for gauges whitelisting here.
Kitchen’s veCAKE Votes
In Epochs 25, 26, 27 and 28, the Kitchen continued allocating veCAKE votes to core pairs, such as BNB-USDT and CAKE-BNB on BNB Chain, ensuring optimal incentives for pairs driving protocol revenue.
These pairs contribute significantly to trading volumes and therefore, CAKE buyback-and-burn; by ensuring incentives continue to flow to these core pairs, we can continue on our path of ultrasound CAKE.
Based on this vote proposal, we directed 500 CAKE per day worth of emissions as bribes to our various veCAKE Managers for the following pairs, and received 1,493,624, 1,359,160, 1,595,228, and 2,515,921 veCAKE votes on them for Epoch 25, 26, 27 and 28 respectively:
- BNB-USDT 0.01% (BNB Chain)
- USDT-BNB 0.05% (BNB Chain)
- CAKE-BNB 0.25% (BNB Chain)
- CAKE-USDT 0.25% (BNB Chain)
Kitchen-Discretionary CAKE Emissions
As this vote proposal was passed, the Kitchen now has up to 0.67% of all veCAKE emissions to be used for ad-hoc Farms. These are short-term Farms to capture TVL and volume for token pairs where community interest is high. We will track the additions and removals of these Farms in our Epoch Reports for greater transparency.
In the past four epochs, we started and ended a number of short term ad-hoc farms on Arbitrum, Ethereum, BNB Chain, Base, and ZKsync. These served the purpose of bootstrapping initial liquidity for new or hot pairs on our DEX, and were mostly quite successful in doing so.
| Name | Chain | LP Type | Fee Tier | Multiplier | CPD (now) | CPD (old) | Start Date | End Date | Volume (14D avg) | TVL |
|---|---|---|---|---|---|---|---|---|---|---|
| EIGEN-ETH | ETH | V3 | 0.05% | 2x | 55.5 | 11 Nov 2024 | 22 Nov 2024 | 360 | 3,653 | |
| DEGEN-ETH | Base | V3 | 0.05% | 1.5x | 36.7 | 14 Oct 2024 | 25 Oct 2024 | 548,367 | 230,211 | |
| FBTC-WBTC | ARB | V3 | 0.25% | 2.6x | 74.0 | 21 Oct 2024 | 18 Nov 2024 | 1,937 | 5,449,771 | |
| VIRTUAL-ETH | Base | V3 | 0.05% | 0.3x | 8.4 | 01 Nov 2024 | 08 Nov 2024 | 7,483,249 | 360,533 | |
| VIRTUAL-cbBTC | Base | V3 | 0.05% | 0.3x | 8.4 | 01 Nov 2024 | 08 Nov 2024 | 37,644 | 3,700 | |
| ZFI-ETH | zkSync | V3 | 1% | 1.5x | 36.0 | 19 Nov 2024 | 19 Dec 2024 | 5,324 | 5,324 | |
| cbBTC-WETH | ARB | V3 | 0.01% | 0.2x | 5.6 | 20 Nov 2024 | 06 Dec 2024 | 75,289 | 57,749 | |
| cbBTC-WBTC | ARB | V3 | 0.01% | 0.2x | 5.6 | 20 Nov 2024 | 06 Dec 2024 | 404,710 | 234,537 | |
| cbBTC-USDT | ARB | V3 | 0.01% | 0.2x | 5.6 | 20 Nov 2024 | 06 Dec 2024 | 32,857 | 2,798 | |
| cbBTC-USDC | ARB | V3 | 0.01% | 0.2x | 5.6 | 20 Nov 2024 | 06 Dec 2024 | 30,674 | 4,624 | |
| MORPHO-WETH | Base | V3 | 0.05% | 0.2x | 5.6 | 21 Nov 2024 | 06 Dec 2024 | 123,457 | 22,057 | |
| pumpBTC-FBTC | ARB | V3 | 0.05% | 0.9x | 21.0 | 22 Nov 2024 | 06 Dec 2024 | 5,571 | 194,000 | |
| CAT-WBNB | BNB | V3 | 0.01% | 1.9x | 45.0 | 22 Nov 2024 | 06 Dec 2024 | 13,398,909 | 2,200,384 | |
| CAT-WBNB | BNB | V3 | 1.00% | 1.1x | 25.0 | 22 Nov 2024 | 06 Dec 2024 | 260,848 | 312,023 | |
| Cheems-WBNB | BNB | V3 | 0.25% | 0.9x | 20.0 | 22 Nov 2024 | 06 Dec 2024 | 3,494,961 | 6,742,588 | |
| WHY-WBNB | BNB | V3 | 1.00% | 0.7x | 15.0 | 22 Nov 2024 | 06 Dec 2024 | 1,084,437 | 12,223,536 | |
| USDX-USDT | BNB | StableSwap | 0.01% | 0.9x | 20.0 | 06 Dec 2024 | 20 Dec 2024 | 88,528 | 1,401,974 | |
| BTBC-LBTC | BNB | V3 | 0.05% | 0.1x | 2.8 | 11 Dec 2024 | 20 Dec 2024 | 20,508 | 265,807,196 | |
| CAKEDOG-BNB | BNB | V3 | 1% | 2.1x | 60.0 | 11 Dec 2024 | 20 Dec 2024 | 260,662 | 252,023 | |
| BINK-BNB | BNB | V3 | 1% | 1.8x | 50.0 | 11 Dec 2024 | 20 Dec 2024 | 17,557 | 101,172 | |
| APPA-WETH | zkSync | V3 | 1% | 0.9x | 20.0 | 12 Dec 2024 | 26 Dec 2024 | 13,176 | 13,176 |
CPD = CAKE emissions per day
Gauge Characteristics
Non-core gauges retained their 0.5% emissions cap, while core gauges retained their 25% emissions cap. Some non-core gauges have been whitelisted with higher emission caps to account for their volume, TVL, and/or expected bribe amounts. Core gauges on non-BNB Chains generally have 2-5% emission caps.
Gauge Applications
We received a number of applications in Epochs 25 to 28, and have made the decision to approve or reject them. A full list can be found here.
Whitelisted Gauges
Please find the complete list of whitelisted gauges in this Dune query, which will be updated automatically.