Overview
Epoch 5 ended with 20,047,910 veCAKE votes, an increase from 19,421,481 in Epoch 4.
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 5, 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.
Gauge Characteristics
As the total bribes in the veCAKE ecosystem increases, we are mindful of how we allocate CAKE emissions towards gauges. We are now setting a 1% emission cap as the default for all non-core gauges. If the token pair has demonstrated high volumes and TVL, we are open to raising the cap on a case-by-case basis.
Gauge Applications
We received a number of applications in Epoch 5, and have made the following decisions:
- Enabled USDT/GTAI (0.25% fee tier) V3 gauge on BNB Chain with 1x boost multiplier and 0.5% emissions cap
- Enabled USDV/USD+ (0.01% fee tier) V3 gauge on Arbitrum with 1x boost multiplier and 1% emissions cap
- Enabled AITECH/USDT (0.25% fee tier) V3 gauge on BNB Chain with 1x boost multiplier and 1% emissions cap
- Enabled weETH/WETH (0.01% fee tier) V3 gauge on Ethereum with 1x boost multiplier and 5% emissions cap
- Enabled USD+/USDT+ (0.05% fee tier) V3 gauge on Arbitrum with 1x boost multiplier and 5% emissions cap
- Enabled USD+/USDC (0.05% fee tier) V3 gauge on Arbitrum with 1x boost multiplier and 5% emissions cap
- Enabled rBNB-BNB (0.01% fee tier) V3 gauge on BNB Chain with 1x boost multiplier and 2% emissions cap
- Reduced emissions cap for USD+/USDT+ (0.01% fee tier) V3 gauge on Arbitrum, from 5% to 1%
- Reduced emissions cap for USDC.e/USD+ (0.01% fee tier) V3 gauge on Arbitrum, from 2% to 1%
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 |
|---|---|---|---|---|
| BNB-WETH | ARB V3 | 0.25% | 1x | 25% |
| mPENDLE-PENDLE | BNB StableSwap | 1x | 5% | |
| mdLP-dLP | BNB StableSwap | 1x | 5% | |
| rBNB-BNB | BNB V3 | 0.01% | 1x | 2% |
| BNB-USDT | BNB V3 | 0.01% | 1x | 5% |
| USD+/USDC | ARB V3 | 0.05% | 1x | 5% |
| USD+/USDT+ | ARB V3 | 0.05% | 1x | 5% |
| weETH-WETH | ETH V3 | 0.01% | 1x | 5% |
| AITECH-USDT | BNB V3 | 0.25% | 1x | 1% |
| USDV-USD+ | ARB V3 | 0.01% | 1x | 1% |
| GTAI-USDT | BNB V3 | 0.25% | 1x | 0.50% |
We are maintaining a publicly accessible Google Sheets of:
(i) Whitelisted Gauges
(ii) Gauges under consideration
You can find this information here.