Overview
Epoch 3 ended with 18,335,902 veCAKE votes, a steep increase from 9,592,874 in Epoch 2 (please view report here). This was largely attributed to Cakepie voting with their share of veCAKE in the Epoch.
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 2, 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.
Separately, the Kitchen also allocated a small portion of votes towards trending BRC-20 token gauges to kick-start their liquidity on PancakeSwap, and in turn bring increased volumes and CAKE burn to our ecosystem. This is only temporary, and we will transition towards the project teams bribing for their own gauges in future epochs.
Gauge Characteristics
Non-core gauges retained their 5% emissions cap, while core gauges retained their 25% emissions cap.
We whitelisted some gauges in this epoch with a 2% emissions cap. This was a strategic move for some tokens that may still be building up their market cap and/or TVL, and a way to encourage more optimal trading fee tiers.
Gauge Applications
We have received a number of outstanding applications in Epoch 3, and have made the following decisions:
- Increased rETH-ETH (0.05%) v3 gauge on Ethereum from 5% to 10% due to historical TVL and Volume performance
- Enabled CGPT/USDT (0.05% fee tier) V3 gauge on BNB Chain with 1x boost multiplier and 2% emissions cap
- Enabled USD+/USDT+ (0.01% fee tier) V3 gauge on Arbitrum with 1x boost multiplier and 2% emissions cap
- Enabled USD+/ETH+ (0.25% fee tier) V3 gauge on Arbitrum with 1x boost multiplier and 2% emissions cap
- Enabled USDC.e/USD+ (0.01% fee tier) V3 gauge on Arbitrum with 1x boost multiplier and 2% emissions cap
- Enabled ETH+/WETH (0.01% fee tier) V3 gauge on Arbitrum with 1x boost multiplier and 2% emissions cap
We are still in discussions with some of the applicants, and will provide an update on their applications in the next Epoch.
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 |
|---|---|---|---|---|
| sats-BNB | BNB V3 | 0.25% | 1x | 2% |
| NFP-USDT | BNB V3 | 0.25% | 1x | 5% |
| ordi-BNB | BNB V3 | 0.25% | 1x | 2% |
| MUBI-BNB | BNB V3 | 0.25% | 1x | 2% |
| WETH-USDT | zkSync V3 | 0.05% | 1x | 5% |
| sdCAKE-CAKE | BNB V3 | 0.25% | 1x | 5% |
| PNP-BNB | BNB V3 | 0.25% | 1x | 5% |
| mCAKE-CAKE | BNB StableSwap | 1x | 25% | |
| WETH-USDC | Polygon zkEVM V3 | 0.05% | 1x | 25% |
| WETH-USDT | Polygon zkEVM V3 | 0.05% | 1x | 25% |
| USDT-USDC | Polygon zkEVM V3 | 0.01% | 1x | 25% |
| WETH-MATIC | Polygon zkEVM V3 | 0.25% | 1x | 5% |
| GRAI-USDC | Polygon zkEVM V3 | 0.05% | 1x | 5% |
| WETH-BTC | Polygon zkEVM V3 | 0.05% | 1x | 5% |
| swETH-ETH | ETH V3 | 0.05% | 1x | 5% |
| HAY-USDT | BNB StableSwap | 1x | 5% | |
| CGPT-USDT | BNB V3 | 0.05% | 1x | 2% |
| wROSE-USDT | BNB V3 | 0.25% | 1x | 5% |
| INSP-BNB | BNB V3 | 1.00% | 1x | 5% |
| FDUSD-BTC | BNB V3 | 0.05% | 1x | 5% |
| FDUSD-ETH | BNB V3 | 0.05% | 1x | 5% |
| FDUSD-CAKE | BNB V3 | 0.25% | 1x | 5% |
| FDUSD-BNB | BNB V3 | 0.05% | 1x | 5% |
| FDUSD-USDC | BNB V3 | 0.01% | 1x | 5% |
| XAI-WETH | ARB V3 | 0.25% | 1x | 2% |
| USD+ -USDT+ | ARB V3 | 0.01% | 1x | 5% |
| USD+ -ETH+ | ARB V3 | 0.25% | 1x | 2% |
| USDC.e-USD+ | ARB V3 | 0.01% | 1x | 2% |
| WETH-ETH+ | ARB V3 | 0.01% | 1x | 2% |
| CKP-BNB | BNB V3 | 0.25% | 1x | 5% |
| IRL-USDT | BNB V3 | 1.00% | 1x | 2% |
We are maintaining a publicly accessible Google Sheets of:
(i) Whitelisted Gauges
(ii) Gauges under consideration
You can find this information here