Overview
Epoch 7 ended with 21,425,486 veCAKE votes, a slight decrease from 21,724,936 in Epoch 6.
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 7, 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.
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 stopped the DMAIL-USDT Farm and are moving them towards bribing for liquidity via one of the veCAKE Managers.We also ended most of the L2 LST Farms as we transitioned them to the Kitchen admin votes.
We introduced more 0.1x Farms this epoch for pairs that already or are expected to have high trading volumes. This enables their LP APRs to be displayed on our frontend, allowing users to easily notice and seed liquidity for those pairs.
We introduced ad-hoc Farms for wstETH-USDC on zkSync and wstETH-ETH on Linea as the Lido DAO was not able to get their bribes in before the epoch ended, so we stepped in to ensure there was continuity for their farms and wstETH liquidity on PancakeSwap. We received a proportional amount of bribes that was supposed to be directed to a veCAKE Manager, and will distribute this as part of the revenue sharing for veCAKE stakers next week.
| Name | Chain | LP Type | Fee Tier | Multiplier | CPD (now) | CPD (old) | Start Date | End Date | Volume (14D avg) | TVL |
|---|---|---|---|---|---|---|---|---|---|---|
| DMAIL-USDT | BNB | V3 | 1.00% | 2.1x | 60.0 | 19 Feb 2024 | 01 Mar 2024 | 208,516 | 685,115 | |
| PIXEL-ETH | ETH | V3 | 0.25% | 0.7x | 19.6 | 20 Feb 2024 | 5,806 | 8,358 | ||
| XRGB-BNB | BNB | V3 | 1.00% | 0.5x | 14.0 | 21 Feb 2024 | 06 Mar 2024 | 260,807 | 368,548 | |
| XRGB-ETH | ETH | V3 | 1.00% | 0.8x | 22.0 | 23 Feb 2024 | 195,259 | 475,570 | ||
| wstETH-ETH | zkSync | V3 | 0.05% | 0.1x | 2.8 | 22 Feb 2024 | 01 Mar 2024 | 204,904 | 66,229 | |
| rETH-ETH | zkSync | V3 | 0.05% | 0.1x | 2.8 | 22 Feb 2024 | 01 Mar 2024 | 40,511 | 162,328 | |
| wstETH-ETH | Polygon zkEVM | V3 | 0.01% | 0.1x | 2.6 | 22 Feb 2024 | 01 Mar 2024 | 38 | 357 | |
| rETH-ETH | Polygon zkEVM | V3 | 0.01% | 0.1x | 2.6 | 22 Feb 2024 | 01 Mar 2024 | 22 | 388 | |
| rsETH-ETH | Polygon zkEVM | V3 | 0.01% | 0.1x | 2.6 | 22 Feb 2024 | 01 Mar 2024 | 23 | 407 | |
| wstETH-rETH | zkSync | V3 | 0.05% | 0.1x | 2.8 | 22 Feb 2024 | 01 Mar 2024 | 4,362 | 33,000 | |
| wstETH-rETH | Polygon zkEVM | V3 | 0.05% | 0.1x | 2.6 | 22 Feb 2024 | 01 Mar 2024 | 0 | 1,670 | |
| WETH.e-WETH | zkSync | V3 | 0.05% | 0.1x | 2.6 | 29 Feb 2024 | 1,735 | 3,932 | ||
| CAKE-USDC | Polygon zkEVM | V3 | 1.00% | 0.1x | 2.6 | 29 Feb 2024 | 1,705 | 38,020 | ||
| CAKE-ETH | Polygon zkEVM | V3 | 1.00% | 0.1x | 2.6 | 29 Feb 2024 | 1,203 | 20,708 | ||
| BNX-USDT | BNB | V3 | 0.05% | 0.1x | 2.6 | 29 Feb 2024 | 7,603,391 | 2,688,848 | ||
| CAKE-ETH | Linea | V3 | 1.00% | 0.1x | 2.6 | 29 Feb 2024 | 27,535 | 131,000 | ||
| CAKE-ETH | Base | V3 | 1.00% | 0.1x | 2.6 | 29 Feb 2024 | 45,569 | 72,256 | ||
| USDC-DAI | ETH | V3 | 0.01% | 0.1x | 2.6 | 29 Feb 2024 | 72,101 | 150,410 | ||
| wstETH-USDC | zkSync | V3 | 0.05% | 1.1x | 31.0 | 01 Mar 2024 | 160,696 | 97,050 | ||
| wstETH-ETH | Linea | V3 | 0.05% | 1.8x | 52.0 | 01 Mar 2024 | 62,867 | 335,000 | ||
| AIOZ-BNB | BNB | V3 | 0.25% | 0.1x | 2.6 | 05 Mar 2024 | 603,106 | 1,998,831 | ||
| FET-BNB | BNB | V3 | 1.00% | 0.1x | 2.6 | 05 Mar 2024 | 243,003 | 255,184 | ||
| TWT-BNB | BNB | V3 | 0.25% | 0.1x | 2.6 | 07 Mar 2024 | 335,722 | 106,558 | ||
| TRUMP-BNB | BNB | V3 | 0.25% | 0.1x | 2.6 | 07 Mar 2024 | 293,050 | 353,744 | ||
| FIL-BNB | BNB | V3 | 0.25% | 0.1x | 2.6 | 07 Mar 2024 | 901,796 | 525,481 | ||
| ezETH-ETH | BNB | V3 | 0.05% | 0.1x | 2.6 | 07 Mar 2024 | 142 | 23,285 |
*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 emissions caps to account for their volume, TVL, and/or expected bribe amounts.
Gauge Applications
We received a number of applications in Epoch 7, and have made the following decisions:
- Enabled mstETH/wstETH (0.01% fee tier) V3 gauge on Ethereum with 1x boost multiplier and 2% emissions cap
- Enabled mswETH/swETH (0.01% fee tier) V3 gauge on Ethereum with 1x boost multiplier and 2% emissions cap
- Enabled XRGB/BNB (1% fee tier) V3 gauge on BNB Chain with 1x boost multiplier and 1% emissions cap
- Enabled GRAI/USDC (0.05% fee tier) V3 gauge on zkSync with 1x boost multiplier and 1% emissions cap
- Enabled GRAI/USDC (0.01% fee tier) V3 gauge on zkSync with 1x boost multiplier and 1% emissions cap
- Enabled pxETH/ETH (0.01% fee tier) V3 gauge on BNB Chain with 1x boost multiplier and 2% emissions cap
- Enabled pxETH/ETH (0.05% fee tier) V3 gauge on BNB Chain with 1x boost multiplier and 2% emissions cap
We are reviewing some of the applications, and will provide an update 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 |
|---|---|---|---|---|
| wstETH-ETH | Linea V3 | 0.05% | 1x | 5% |
| WETH-USDT | Linea V3 | 0.05% | 1x | 25% |
| DAI-USDT | zkSync V3 | 0.01% | 1x | 25% |
| DAI-USDC | zkSync V3 | 0.01% | 1x | 25% |
| wstETH-rETH | zkSync V3 | 0.05% | 1x | 2% |
| OSAK-WBNB | BNB V3 | 1.00% | 1x | 1% |
| wstETH-ETH | Polygon zkEVM V3 | 0.05% | 1x | 2% |
| rETH-ETH | Polygon zkEVM V3 | 0.05% | 1x | 2% |
| rsETH-ETH | Polygon zkEVM V3 | 0.05% | 1x | 2% |
| wstETH-rETH | Polygon zkEVM V3 | 0.05% | 1x | 2% |
| ETH-USDC | Linea V3 | 0.01% | 1x | 5% |
| BTC-ETH | Linea V3 | 0.01% | 1x | 5% |
| WETH-USDC | Polygon zkEVM V3 | 0.01% | 1x | 5% |
| WETH-BTC | Polygon zkEVM V3 | 0.01% | 1x | 5% |
| WETH-MATIC | Polygon zkEVM V3 | 0.05% | 1x | 5% |
| WETH-USDT | zkSync V3 | 0.01% | 1x | 5% |
| WETH-BTC | zkSync V3 | 0.01% | 1x | 5% |
| cbETH-WETH | Base V3 | 0.01% | 1x | 5% |
| mswETH-swETH | ETH V3 | 0.01% | 1x | 2% |
| mstETH-wstETH | ETH V3 | 0.01% | 1x | 2% |
| pxETH-ETH | BNB V3 | 0.01% | 1x | 2% |
| WETH.e-WETH | zkSync V3 | 0.05% | 1x | 5% |
| CAKE-USDC | Polygon zkEVM V3 | 1.00% | 1x | 25% |
| CAKE-ETH | Polygon zkEVM V3 | 1.00% | 1x | 25% |
| BNX-USDT | BNB V3 | 0.05% | 1x | 0.5% |
| CAKE-ETH | Linea V3 | 1.00% | 1x | 25% |
| CAKE-ETH | Base V3 | 1.00% | 1x | 25% |
| FET-BNB | BNB V3 | 1.00% | 1x | 0.5% |
| USDC-BNB | BNB V3 | 0.05% | 1x | 5% |
| USDC-BNB | BNB V3 | 0.01% | 1x | 5% |
| pxETH-ETH | BNB V3 | 0.05% | 1x | 2% |
| GRAI-USDC | zkSync V3 | 0.05% | 1x | 1% |
| GRAI-USDC | zkSync V3 | 0.01% | 1x | 1% |
| XRGB-BNB | BNB V3 | 0.25% | 1x | 1% |
We are maintaining a publicly accessible Google Sheets of:
(i) Whitelisted Gauges
(ii) Gauges under consideration
You can find this information here.