Overview
Epoch 13 ended with 27,768,240 veCAKE votes, an increase from 26,082,061 in Epoch 12.
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 Epoch 13, the Kitchen continued allocating veCAKE votes to core pairs, such as BNB-USDT and CAKE-BNB on the 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 1,022,926 veCAKE votes on them in total, an increase from 716,554 votes in the previous epoch:
- 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.
We started an MNT-mETH and a WETH-mETH Farm to support the team for seeding liquidity on our platform. In the long run, we plan to transition these Farms to be controlled by our Kitchen admin votes.
| Name | Chain | LP Type | Fee Tier | Multiplier | CPD (now) | CPD (old) | Start Date | End Date | Volume (14D avg) | TVL |
|---|---|---|---|---|---|---|---|---|---|---|
| SolvBTC-BTCb | BNB | V3 | 0.05% | 0.8x | 22.8 | 09 May 2024 | 07 Jun 2024 | 218,454 | 2,752,244 | |
| MNT-mETH | ETH | V3 | 0.25% | 1x | 28.5 | 24 May 2024 | 07 Jun 2024 | 0 | 5,761,995 | |
| WETH-mETH | ETH | V3 | 0.05% | 0x | 28.5 | 24 May 2024 | 28 May 2024 | 11,718 | 135 | |
| WETH-mETH | ETH | V3 | 0.01% | 1x | 28.5 | 28 May 2024 | 07 Jun 2024 | 236,105 | 1,565,744 |
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 emissions caps to account for their volume, TVL, and/or expected bribe amounts.
Gauge Applications
We received a number of applications in Epoch 13, and have made the following decision(s):
- Enabled the FURY/USDT (0.05% fee tier) V3 gauge on BNB Chain with 1x boost multiplier and 0.5% emissions cap
We are reviewing some of the applications, and will provide an update in the next Epoch Report.
Whitelisted Gauges
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.
| Gauge | Chain / Type | Fee Tier | Gauge Boost | Emissions Cap |
|---|---|---|---|---|
| BNB-BUSD | BNB V3 | 0.01% | 1x | 5% |
| USDC-USDC.e | zkSync V3 | 0.01% | 1x | 5% |
| USDC-USDT | zkSync V3 | 0.01% | 1x | 5% |
| USDC-ETH | zkSync V3 | 0.05% | 1x | 5% |
| FURY-USDT | BNB V3 | 0.05% | 1x | 0.5% |
| MNT/mETH | ETH V3 | 0.25% | 1x | 2% |
| WETH/mETH | ETH V3 | 0.01% | 1x | 2% |
We are maintaining a publicly accessible Google Sheets of:
(i) Whitelisted Gauges
(ii) Gauges under consideration
You can find this information here.