This proposal is a joint proposal from Vidocq Stoekenbroek and Sebabesse
Current mechanism to lock Cake for VeCake has a “all or nothing”rule in place. A user with an existing position wishing to lock more, is only able to add more to the preexisting locking period. Users willing to have VeCake positions with different locking periods can only do so by using multiple wallets.
This has potentially a large impact on the quantity of Cake locked as holders may see this as a lack of flexibility. Extremely large quantities of Cake entered circulating supply due to the end of the old Cake pool and nothing else absorbed this supply. Introducing more flexibility may be a way to attract more holders to lock their Cake.
This proposal suggests to bring flexibility to the VeCake pool by introducing management tools for locked positions similar to what exists in other projects. Such as Cellana finance to name one. When locking Cake, holders should have the possibility to append an existing position or to create a new one with a different locking period using a single wallet. Holders should also be able to split an existing position if they wish to extend the locking period of only a portion of their locked Cake.
Finally, holders should be able to merge positions where the final locking period is the longest of the two positions merged.