Overview
Epoch 14 ended with 27,587,396 veCAKE votes, a slight decrease from 27,768,240 in Epoch 13.
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 14, 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 712,264 veCAKE votes on them in total, a decrease from 1,022,926 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 transitioned the MNT-mETH and WETH-mETH Farms to our Kitchen admin votes to support them for the long term.
We started ad-hoc farms for TAIKO-ETH and BLB-ETH to support their deployment on ETH PCS. We will either transition them to Kitchen admin votes or bribes in the future.
We also started 22 ad-hoc Farms on Arbitrum, in conjunction with the launch of our Arbitrum LTIPP rewards. Having these Farms up will display their LP APR on our frontend. We are also working to integrate the Merkl APR onto the Farms page, which is where our $ARB rewards are being distributed.
Along with the $ZK airdrop on ZKsync, we started 6 ad-hoc Farms for $ZK to capture TVL and trading volume for the token. We will be transitioning them to Kitchen admin votes soon.
| Name | Chain | LP Type | Fee Tier | Multiplier | CPD (now) | CPD (old) | Start Date | End Date | Volume (14D avg) | TVL |
|---|---|---|---|---|---|---|---|---|---|---|
| MNT-mETH | ETH | V3 | 0.25% | 1x | 28.5 | 24 May 2024 | 07 Jun 2024 | 71,000 | 5,100,000 | |
| WETH-mETH | ETH | V3 | 0.05% | 0x | 28.5 | 24 May 2024 | 28 May 2024 | 5 | 91 | |
| WETH-mETH | ETH | V3 | 0.01% | 1x | 28.5 | 28 May 2024 | 07 Jun 2024 | 437,888 | 1,846,934 | |
| TAIKO-ETH | ETH | V3 | 1.00% | 1x | 28.5 | 05 Jun 2024 | 21 Jun 2024 | 55,010 | 268,504 | |
| BLB-ETH | ETH | V3 | 1.00% | 1.8x | 51.0 | 14 Jun 2024 | 28 Jun 2024 | 2,278 | 7,854 | |
| ARB-USDC.e | ARB | V3 | 0.01% | 0.1x | 2.6 | 10 Jun 2024 | 21 Jun 2024 | 15,793 | 7,532 | |
| USDC-USDC.e | ARB | V3 | 0.01% | 0.1x | 2.6 | 10 Jun 2024 | 21 Jun 2024 | 32,265 | 24,290 | |
| WBTC-USDC | ARB | V3 | 0.01% | 0.1x | 2.6 | 10 Jun 2024 | 21 Jun 2024 | 142,180 | 37,007 | |
| WETH-USDC.e | ARB | V3 | 0.01% | 0.1x | 2.6 | 10 Jun 2024 | 21 Jun 2024 | 239,487 | 23,729 | |
| ezETH-ETH | ARB | V3 | 0.01% | 0.1x | 2.6 | 10 Jun 2024 | 21 Jun 2024 | 60,171 | 10,868 | |
| PENDLE-ETH | ARB | V3 | 0.05% | 0.1x | 2.6 | 10 Jun 2024 | 21 Jun 2024 | 4,182 | 17,083 | |
| weETH-ETH | ARB | V3 | 0.01% | 0.1x | 2.6 | 10 Jun 2024 | 21 Jun 2024 | 81,765 | 192,316 | |
| GMX-ETH | ARB | V3 | 0.25% | 0.1x | 2.6 | 10 Jun 2024 | 21 Jun 2024 | 18,762 | 26,847 | |
| axlUSDC-USDC.e | ARB | V3 | 0.01% | 0.1x | 2.6 | 10 Jun 2024 | 21 Jun 2024 | 117,021 | 180,783 | |
| fUSDC-USDC | ARB | V3 | 0.01% | 0.1x | 2.6 | 10 Jun 2024 | 21 Jun 2024 | 41,447 | 56,049 | |
| USDV-USDC | ARB | V3 | 0.01% | 0.1x | 2.6 | 10 Jun 2024 | 21 Jun 2024 | 11,448 | 27,105 | |
| USDV-WETH | ARB | V3 | 0.05% | 0.1x | 2.6 | 10 Jun 2024 | 21 Jun 2024 | 2,231 | 1,543 | |
| MAGIC-ETH | ARB | V3 | 0.05% | 0.1x | 2.6 | 10 Jun 2024 | 21 Jun 2024 | 8,372 | 1,529 | |
| TIA.n-ETH | ARB | V3 | 0.25% | 0.1x | 2.6 | 10 Jun 2024 | 21 Jun 2024 | 33,156 | 72,451 | |
| RDNT-ETH | ARB | V3 | 0.25% | 0.1x | 2.6 | 10 Jun 2024 | 21 Jun 2024 | 16,741 | 9,380 | |
| USDV-USDT | ARB | V3 | 0.01% | 0.1x | 2.6 | 10 Jun 2024 | 21 Jun 2024 | 12,145 | 36,535 | |
| WOO-ETH | ARB | V3 | 0.05% | 0.1x | 2.6 | 10 Jun 2024 | 21 Jun 2024 | 1,525 | 2,716 | |
| MIM-USDC | ARB | V3 | 0.01% | 0.1x | 2.6 | 10 Jun 2024 | 21 Jun 2024 | 148,997 | 196,965 | |
| GRAI-ETH | ARB | V3 | 0.25% | 0.1x | 2.6 | 10 Jun 2024 | 21 Jun 2024 | 35,907 | 110,467 | |
| STG-USDC | ARB | V3 | 0.25% | 0.1x | 2.6 | 10 Jun 2024 | 21 Jun 2024 | 6,097 | 4,221 | |
| rsETH-ETH | ARB | V3 | 0.01% | 0.1x | 2.6 | 10 Jun 2024 | 21 Jun 2024 | 235,272 | 108,302 | |
| ETHx-ETH | ARB | V3 | 0.01% | 0.1x | 2.6 | 10 Jun 2024 | 21 Jun 2024 | 44,734 | 25,309 | |
| ZK-ETH | zkSync | V3 | 1.00% | 0.3x | 7.8 | 19 Jun 2024 | 21 Jun 2024 | 2,635,360 | 699,887 | |
| ZK-ETH | zkSync | V3 | 0.25% | 0.3x | 7.8 | 19 Jun 2024 | 21 Jun 2024 | 7,676,522 | 430,615 | |
| ZK-USDC.e | zkSync | V3 | 1.00% | 0.3x | 7.8 | 19 Jun 2024 | 21 Jun 2024 | 344,256 | 90,419 | |
| ZK-USDC.e | zkSync | V3 | 0.25% | 0.3x | 7.8 | 19 Jun 2024 | 21 Jun 2024 | 77,995 | 29,007 | |
| ZK-USDC | zkSync | V3 | 1.00% | 0.3x | 7.8 | 19 Jun 2024 | 21 Jun 2024 | 3,322,750 | 98,000 | |
| ZK-USDC | zkSync | V3 | 0.25% | 0.3x | 7.8 | 19 Jun 2024 | 21 Jun 2024 | 46,000 | 43,000 |
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 Epoch 14, and have made the following decision(s):
- Enabled the USD+/WETH (0.01% fee tier) V3 gauge on Arbitrum Chain with 1x boost and 2% emissions cap
- Enabled the USD+/ARB (0.01% fee tier) V3 gauge on Arbitrum Chain with 1x boost and 2% emissions cap
- Enabled the USD+/USDC (0.01% fee tier) V3 gauge on Arbitrum Chain with 1x boost and 1% emissions cap
- Enabled the USD+/WETH (0.01% fee tier) V3 gauge on Base with 1x boost multiplier and 2% emissions cap
- Enabled the wstETH/USD+ (0.01% fee tier) V3 gauge on Base with 1x boost multiplier and 2% emissions cap.
- Enabled the wstETH/USD+ (0.01% fee tier) V3 gauge on Base with 1x boost multiplier and 1% emissions cap
- Enabled the USD+/BRETT (0.05% fee tier) V3 gauge on Base with 1x boost multiplier and 0.5% emissions cap
- Enabled the USD+/DEGEN (0.05% fee tier) V3 gauge on Base with 1x boost multiplier and 0.5% emissions cap
- Enabled the USD+/AERO (0.05% fee tier) V3 gauge on Base with 1x boost multiplier and 0.5% emissions cap
- Enabled the USDT/axlSTARS (1% fee tier) V3 gauge on BNB Chain with 1x boost multiplier and 0.5% emissions cap
- Enabled the OVN/WETH (1% fee tier) V3 gauge on Base with 1x boost multiplier and 1% emissions cap
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 |
|---|---|---|---|---|
| USD+/WETH | ARB V3 | 0.01% | 1x | 2% |
| USD+/ARB | ARB V3 | 0.01% | 1x | 2% |
| USD+/USDC | ARB V3 | 0.01% | 1x | 1% |
| USDV-USDC | ARB V3 | 0.01% | 1x | 2% |
| USDV-USDT | ARB V3 | 0.01% | 1x | 2% |
| GRAI-ETH | ARB V3 | 0.25% | 1x | 1% |
| rsETH-ETH | ARB V3 | 0.01% | 1x | 2% |
| ETHx-ETH | ARB V3 | 0.01% | 1x | 2% |
| ezETH-ETH | ARB V3 | 0.01% | 1x | 2% |
| weETH-ETH | ARB V3 | 0.01% | 1x | 2% |
| axlUSDC-USDC.e | ARB V3 | 0.01% | 1x | 2% |
| FLY-USDC | ARB V3 | 0.01% | 1x | 1% |
| USDV-WETH | ARB V3 | 0.05% | 1x | 2% |
| MAGIC-ETH | ARB V3 | 0.05% | 1x | 2% |
| TIA.n-ETH | ARB V3 | 0.25% | 1x | 2% |
| WOO-ETH | ARB V3 | 0.05% | 1x | 2% |
| MIM-USDC | ARB V3 | 0.01% | 1x | 2% |
| ARB-USDC.e | ARB V3 | 0.01% | 1x | 5% |
| USDC-USDC.e | ARB V3 | 0.01% | 1x | 5% |
| USDC.e-USDT | ARB V3 | 0.01% | 1x | 5% |
| WBTC-USDC | ARB V3 | 0.01% | 1x | 5% |
| WETH-USDC.e | ARB V3 | 0.01% | 1x | 5% |
| fUSDC-USDC | ARB V3 | 0.01% | 1x | 1% |
| TAIKO-ETH | ETH V3 | 1% | 1x | 2% |
| axlSTARS-USDT | BNB V3 | 1% | 1x | 0.5% |
| USD±WETH | Base V3 | 0.01% | 1x | 2% |
| wstETH-USD+ | Base V3 | 0.01% | 1x | 2% |
| cbETH-USD+ | Base V3 | 0.01% | 1x | 1% |
| BRETT-USD+ | Base V3 | 0.05% | 1x | 0.5% |
| DEGEN-USD+ | Base V3 | 0.05% | 1x | 0.5% |
| AERO-USD+ | Base V3 | 0.05% | 1x | 0.5% |
| OVN-WETH | Base V3 | 1% | 1x | 1% |
We are maintaining a publicly accessible Google Sheets of:
(i) Whitelisted Gauges
(ii) Gauges under consideration
You can find this information here.