veCAKE Epoch Report 4

Gauges
1

Overview

Epoch 4 ended with 19,421,481 veCAKE votes, an increase from 18,335,902 in Epoch 3 (please view report here.

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 4, 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.

Re-tabulated Votes

In Epoch 4, the Kitchen was informed of two instances where a veCAKE holder allocated veCAKE votes to an unintended gauge. The two instances are:

  1. Voting for an old HAY-USDT Stableswap gauge that was thereafter removed instead of the new HAY-USDT Stableswap gauge
  2. Voting for the swETH-ETH (0.01%) V3 gauge on Arbitrum instead of the swETH-ETH (0.05%) V3 gauge on Ethereum

In both cases, the Kitchen manually re-tabulated the votes on the backend and allocated the correct Farm multipliers to the intended liquidity pairs. While we made the decision to honor the intent in this case, we would like to remind all veCAKE holders that this is not a guarantee from us. We sent a strong reminder to the involved party to not repeat such instances.

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, as some tokens are still building up their market metrics.

Gauge Applications

We received a number of applications in Epoch 4, and have made the following decisions:

  1. Enabled AI/WBNB (1% fee tier) V3 gauge on BNB Chain with 1x boost multiplier and 2% emissions cap
  2. Enabled OSAK/ETH (1% fee tier) V3 gauge on Ethereum with 1x boost multiplier and 2% emissions cap
  3. Enabled pxETH/ETH (0.01% fee tier) V3 gauge on Ethereum with 1x boost multiplier and 5% emissions cap
  4. Enabled wstETH/USDC (0.05% fee tier) V3 gauge on zkSync with 1x boost multiplier and 5% emissions cap
  5. Enabled OVN/USD+ (1% fee tier) V3 gauge on Arbitrum with 1x boost multiplier and 5% emissions cap
  6. Enabled OVN/USDT (1% fee tier) V3 gauge on BNB Chain with 1x boost multiplier and 5% emissions cap
  7. Rejected HTD/USDT (0.05% fee tier) V3 gauge on BNB Chain
  8. Rejected wUSD+/USD+ (0.05% fee tier) V3 gauge on Arbitrum
  9. Rejected OVN/BNB (1% fee tier) V3 gauge on BNB Chain
  10. Rejected OVN/USDT+ (1% fee tier) V3 gauge on BNB Chain
  11. Rejected USD+/USDT+ (0.01% fee tier) V3 gauge emission cap increase

We are still in discussions with some of the applicants, and will provide an update on their applications 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
ORDS-WETH ETH V3 0.25% 1x 5%
OSAK-WETH ETH V3 1% 1x 2%
MGP-BNB BNB V2 0.25% 1x 1%
RDP-BNB BNB V2 0.25% 1x 1%
PNP-BNB BNB V2 0.25% 1x 1%
CKP-mCAKE BNB V2 0.25% 1x 1%
HUAHUA-USDT BNB V3 1% 1x 2%
ETH-USDC Linea V3 0.05% 1x 25%
USDC-USDT Linea V3 0.01% 1x 25%
BTC-ETH Linea V3 0.05% 1x 25%
USDC-DAI Linea V3 0.01% 1x 25%
USDC-axlUSDC Linea V3 0.01% 1x 5%
wstETH-ETH Linea V3 0.01% 1x 5%
AI-WBNB BNB V3 1% 1x 2%
wROSE-USDT BNB V3 0.05% 1x 5%
wstETH-ETH zkSync V3 0.05% 1x 5%
OVN-USD+ Arbitrum V3 1% 1x 5%
OVN-USDT BNB V3 1% 1x 5%
MANTA-BNB BNB V3 0.25% 1x 5%
wstETH-USDC zkSync V3 0.05% 1x 5%
pxETH-ETH ETH V3 0.01% 1x 5%
USDC.e-USDC Polygon zkEVM V3 0.01% 1x 25%

We are maintaining a publicly accessible Google Sheets of:

(i) Whitelisted Gauges

(ii) Gauges under consideration

You can find this information here

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