veCAKE Epoch Report 1

veCAKE Epoch Report 1 Overview

Welcome to the first Epoch Report, a dynamic overview aiming to enhance engagement in our veCAKE system by sharing insights into performance, decisions, and the outlook for the latest Epoch.

The contents of the Epoch Report are very much a “living structure” – as our ecosystem matures, the Epoch Report will adapt to better serve the needs of the PancakeSwap ecosystem and community.

Gauge Applications

We appreciate the enthusiastic adoption of veCAKE, and would like to encourage community members and project teams to submit an application for gauges whitelisting based on the template here.

Kitchen’s veCAKE Votes

In Epoch 1, the Kitchen strategically allocated 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.

Gauge Characteristics

A 5% emissions cap was applied to non-core gauges in Epoch 1 to maintain a balanced emissions market. For Epoch 2, most non-core gauges will retain the 5% cap, with an additional 25% cap for most other gauges (such as core gauges). The only exception is the CAKE Pool, which will have a 35% emissions cap.

In Epoch 1, we applied a Vote Boost of 1.5x for the CAKE Pool gauge to help ease the transition process between CAKE fixed-term staking and veCAKE staking. For Epoch 2, this Vote Boost will be adjusted to 1x.

Whitelisted Gauges

Apart from liquidity pairs that previously had a Farm on PancakeSwap that were automatically whitelisted, the Kitchen added more gauges to the whitelist, according to the table below.

We are either already in discussions with these project teams or have plans to onboard them as future veCAKE lockers and/or bribers. Evidently, these are all stellar projects. We are working hard to include them in the veCAKE ecosystem!

Projects are reminded that whitelisted gauges need to receive votes that correspond to minimally 1 CAKE per day in emissions, before the gauge can receive any CAKE.

Gauge Chain / Type Fee Tier Gauge Boost Emissions Cap
STG-BUSD BNB V3 0.25% 1x 5%
STG-USDT BNB V3 0.25% 1x 5%
VAI-USDT BNB V3 0.01% 1x 5%
VAI-USDC BNB V3 0.01% 1x 5%
BTRFLY-ETH ETH V3 0.25% 1x 5%
SDT-ETH ETH V3 0.25% 1x 5%
agEUR-USDC ETH V3 0.05% 1x 5%
WBTC-ETH ARB V3 0.05% 1x 5%
USDC-DAI ARB V3 0.01% 1x 5%
axlUSDC-USDT ARB V3 0.01% 1x 5%
STG-ETH ARB V3 0.25% 1x 5%
STG-ARB ARB V3 0.25% 1x 5%
STG-USDC ARB V3 0.25% 1x 5%
PENDLE-ETH ARB V3 0.25% 1x 5%
RDNT-ETH ARB V3 0.25% 1x 5%
GMX-ETH ARB V3 0.25% 1x 5%
MAGIC-ETH ARB V3 0.25% 1x 5%
wstETH-ETH ARB V3 0.01% 1x 5%
rETH-ETH ARB V3 0.01% 1x 5%
LINK-WETH ARB V3 0.25% 1x 5%
stEUR-USDC ARB V3 0.01% 1x 5%
KUJI-ETH ARB V3 0.25% 1x 5%
KUJI-USDC ARB V3 0.25% 1x 5%
DMT-USDC ARB V3 0.25% 1x 5%
LINK-USDC ARB V3 0.25% 1x 5%
EQB-ETH ARB V3 0.25% 1x 5%
GRAI-USDC ARB V3 0.05% 1x 5%
swETH-ETH ARB V3 0.01% 1x 5%
axlUSDC-USDC ARB V3 0.01% 1x 5%

We will also maintain a publicly accessible Google Sheets of:

(i) Whitelisted Gauges

(ii) Gauges under consideration

You can find this information here