Overview
Epoch 20 ended with 30,278,495 veCAKE votes, an increase from 29,605,669 in Epoch 19.
Epoch 21 ended with 31,430,781 veCAKE votes, an increase from 30,278,495 in Epoch 20.
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 20 and 21, 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 511,042 and 590,473 veCAKE votes on them for Epoch 20 and 21 respectively, an increase from the 469,159 votes received in Epoch 19:
- 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 two epochs, we ended a number of short term ad-hoc farms on Arbitrum, Ethereum, BNB Chain, and Base. These served the purpose of bootstrapping initial liquidity for new pairs launched on our DEX, and were mostly quite successful in doing so.
We also started a couple of new short term ad-hoc farms that are either in partnership with the project team to deploy liquidity on us, or to bootstrap liquidity for new assets (e.g. cbBTC).
Name | Chain | LP Type | Fee Tier | Multiplier | CPD (now) | CPD (old) | Start Date | End Date | Volume (14D avg) | TVL |
---|---|---|---|---|---|---|---|---|---|---|
SolvBTC.ENA-SolvBTC | ARB | V3 | 0.05% | 1.4x | 39.5 | 03 Jul 2024 | 16 Aug 2024 | 5,116 | 98,000 | |
USDe-USDT | ETH | V3 | 0.01% | 2.6x | 73.0 | 02 Aug 2024 | 30 Aug 2024 | 529,361 | 1,538,976 | |
USDe-USDC | ARB | V3 | 0.01% | 0.1x | 2.5 | 07 Aug 2024 | 16 Aug 2024 | 64,293 | 109,793 | |
SEED-ETH | ARB | V3 | 0.25% | 0.7x | 27.0 | 08 Aug 2024 | 07 Sep 2024 | 1,799 | 82,565 | |
swBTC-BTC | ETH | V3 | 0.05% | 0.1x | 2.7 | 14 Aug 2024 | 30 Aug 2024 | 1,058 | 29,531 | |
wstETH-ETH | BNB | V3 | 0.01% | 0.1x | 2.7 | 16 Aug 2024 | 30 Aug 2024 | 4,429,233 | 14,939,267 | |
wstETH-BTCB | BNB | V3 | 0.05% | 0.1x | 2.7 | 16 Aug 2024 | 30 Aug 2024 | 782,914 | 503,340 | |
wstETH-BNB | BNB | V3 | 0.05% | 0.1x | 2.7 | 16 Aug 2024 | 30 Aug 2024 | 810,568 | 372,131 | |
SolvBTC.ENA-SolvBTC | BNB | V3 | 0.05% | 0.1x | 2.7 | 16 Aug 2024 | 30 Aug 2024 | 666 | 0 | |
SolvBTC.BBN-SolvBTC | BNB | V3 | 0.05% | 0.1x | 2.7 | 16 Aug 2024 | 30 Aug 2024 | 39,122 | 0 | |
SolvBTC-WBTC | ARB | V3 | 0.05% | 0.1x | 2.7 | 16 Aug 2024 | 30 Aug 2024 | 15,607 | 15,607 | |
SolvBTC.BBN-SolvBTC | ARB | V3 | 0.05% | 0.1x | 2.7 | 16 Aug 2024 | 30 Aug 2024 | 0 | 0 | |
USD0-USDT | ETH | V3 | 0.05% | 0.1x | 2.7 | 21 Aug 2024 | 30 Aug 2024 | 181,050 | 177,548 | |
WIF-ETH | Base | V3 | 0.25% | 0.5x | 12.0 | 22 Aug 2024 | 30 Aug 2024 | 590 | 2,032 | |
ORDER-ETH | ETH | V3 | 0.25% | 2.3x | 63.0 | 26 Aug 2024 | 16 Sep 2024 | 184,525 | 563,226 | |
DOLA-USDC | Base | V3 | 0.25% | 0.1x | 3.7 | 02 Sep 2024 | 13 Sep 2024 | 166 | 63 | |
USD0-USDT | ETH | V3 | 0.05% | 2.9x | 80.1 | 11 Sep 2024 | 25 Sep 2024 | 181,050 | 177,548 | |
uniBTC-BTCB | BNB | V3 | 0.05% | 0.5x | 13.2 | 16 Sep 2024 | 27 Sep 2024 | 220 | 109,486 | |
cbBTC-WBTC | ETH | V3 | 0.01% | 0.4x | 11.2 | 16 Sep 2024 | 27 Sep 2024 | 2,530 | 20,427 | |
cbBTC-ETH | ETH | V3 | 0.05% | 0.4x | 11.2 | 16 Sep 2024 | 27 Sep 2024 | 0 | 126 | |
cbBTC-USDC | ETH | V3 | 0.05% | 0.4x | 11.2 | 16 Sep 2024 | 27 Sep 2024 | 0 | 18 | |
cbBTC-ETH | Base | V3 | 0.01% | 0.4x | 11.2 | 16 Sep 2024 | 27 Sep 2024 | 100,653 | 44,092 | |
cbBTC-USDC | Base | V3 | 0.01% | 0.4x | 11.2 | 16 Sep 2024 | 27 Sep 2024 | 36,193 | 11,666 | |
cbBTC-USDbC | Base | V3 | 0.01% | 0.2x | 5.6 | 16 Sep 2024 | 27 Sep 2024 | 20,345 | 22,538 | |
WBTC-USDT | BNB | V3 | 0.25% | 1.2x | 33.6 | 19 Sep 2024 | 03 Oct 2024 | 43,161 | 1,000,000 |
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 20 and 21, and have made the following decision(s):
- Enabled the kBTC/BTCB (0.05% fee tier) V3 gauge on BNB Chain with 1x boost multiplier and 0.5% emissions cap
- Enabled the wstETH/ETH (0.01% fee tier) on BNB Chain with 1x boost multiplier and 10% emissions cap
- Enabled the wstETH/BNB (0.05% fee tier) on BNB Chain with 1x boost multiplier and 5% emissions cap
- Enabled the wstETH/BTCB (0.05% fee tier) on BNB Chain with 1x boost multiplier and 5% emissions cap
- Enabled the mBTC/WBTC (0.02% fee tier) Stableswap gauge on Ethereum with 1x boost multiplier and 2% emissions cap
- Rejected the QUO/USDT (0.25% fee tier) V2 gauge on BNB Chain
- Enabled the DOLA/USDC (0.25% fee tier) V3 gauge on Base with 1x boost multiplier and 0.5% emissions cap
- Enabled the mBTC/WBTC (0.02% fee tier) Stableswap gauge on Arbitrum with 1x boost multiplier and 1% emissions cap
- Enabled the mBTC/BTCB (0.02% fee tier) Stableswap gauge on BNB chain with 1x boost multiplier and 1% emissions cap
- Enabled the WETH-SEED (0.25% fee tier) V3 gauge on Arbitrum with 1x boost multiplier and 0.5% emissions cap
- Enabled the WBNB/MGP (0.25% fee tier) ALM gauge from Bril / CupcakeHop on BNB Chain with 1x boost multiplier and 1% emissions cap
- Enabled the WBNB/CKP (0.25% fee tier) ALM gauge from Bril / CupcakeHop on BNB Chain with 1x boost multiplier and 1% emissions cap
Whitelisted Gauges
The Kitchen added more gauges to the whitelist, according to the table below.
For the most part, we are 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 |
---|---|---|---|---|
wstETH-ETH | BNB V3 | 0.01% | 1x | 10% |
wstETH-BTCB | BNB V3 | 0.05% | 1x | 5% |
wstETH-BNB | BNB V3 | 0.05% | 1x | 5% |
kBTC-BTCB | BNB V3 | 0.05% | 1x | 0.5% |
mBTC-WBTC | ETH StableSwap | 0.02% | 1x | 2% |
WIF-ETH | Base V3 | 0.25% | 1x | 0.5% |
ETH-BNB | BNB V3 | 0.01% | 1x | 0.5% |
ETH-USDT | BNB V3 | 0.01% | 1x | 0.5% |
BTCB-USDT | BNB V3 | 0.01% | 1x | 0.5% |
ORDER-ETH | ETH V3 | 0.25% | 1x | 2% |
AERO-USDC | Base V3 | 0.25% | 1x | 0.5% |
AERO-ETH | Base V3 | 0.25% | 1x | 0.5% |
USDC-ETH | Base V3 | 0.25% | 1x | 0.5% |
ezETH-ETH | Base V3 | 0.01% | 1x | 0.5% |
OVN-USD+ | Base V3 | 0.25% | 1x | 0.5% |
MOG-ETH | Base V3 | 0.25% | 1x | 0.5% |
USDC-eUSD | Base V3 | 0.01% | 1x | 0.5% |
gUSDC-USDC | ARB V3 | 0.01% | 1x | 0.5% |
USD±USDT | ARB V3 | 0.01% | 1x | 0.5% |
DOLA-USDC | Base V3 | 0.25% | 1x | 0.5% |
POL-USDC.E | Polygon zkEVM V3 | 0.05% | 1x | 0.5% |
POL-USDT | Polygon zkEVM V3 | 0.05% | 1x | 0.5% |
POL-ETH | Polygon zkEVM V3 | 0.05% | 1x | 0.5% |
POL-MATIC | Polygon zkEVM V3 | 0.01% | 1x | 0.5% |
uniBTC-BTCB | BNB V3 | 0.05% | 1x | 0.5% |
mBTC-BTCB | BNB StableSwap | 0.02% | 1x | 1% |
mBTC-WBTC | ARB StableSwap | 0.02% | 1x | 1% |
SEED-ETH | ARB V3 | 0.25% | 1x | 0.5% |
WBNB-CKP | BNB ALM | 0.25% | 1x | 1% |
WBNB-MGP | BNB ALM | 0.25% | 1x | 1% |
cbBTC-WBTC | ETH V3 | 0.01% | 1x | 0.5% |
cbBTC-ETH | ETH V3 | 0.05% | 1x | 0.5% |
cbBTC-USDC | ETH V3 | 0.05% | 1x | 0.5% |
cbBTC-ETH | Base V3 | 0.01% | 1x | 0.5% |
cbBTC-USDC | Base V3 | 0.01% | 1x | 0.5% |
cbBTC-USDbC | Base V3 | 0.01% | 1x | 0.5% |
We are maintaining a publicly accessible Google Sheets of whitelisted gauges here.