As the kitchen is stepping up efforts to reduce CAKE emissions and withdraw from the syrup free pool mining, it seems that the kitchen intends to guide the non-locked pool into the locked pool. It is estimated that within a few weeks, after the free pool is withdrawn, all will enter the locked pool. . With the next bribery mechanism, the amount of CAKE outside the CAKE main network will drop sharply. The increase in lock-up is accompanied by the decrease in circulation, which is very conducive to the increase in the price of CAKE currency. Next, CAKE will have a relatively independent market. Let's wait and see.

Next, let’s talk specifically about the bribery mechanism launched by CAKE. And through the lock-up fee and lock-up period, VECAKE is obtained, which is similar to the voting rights VCAKE. VECAKE is used to vote for newly listed LPs. The higher the bribe given by the listing project party (the project currency is bribed to VECAKE holders, and it will be given to CAKE lock holders according to the holding ratio), the VECAKE holders will vote. To that LP. This function is relatively more efficient than the previous flowing syrup tank. Different from digging day and night, refer to the project on BSC, (DEX)THENA. It will vote once every Thursday at 8 am. Once, my LP dropped rapidly after 8 o'clock. APR. How to play CAKE in the future , please refer to WOM’s DOC. But I looked at WOM’s white paper and it was the project party who purchased WOM and rewarded it to VECAKE. In this way, projects that require LP with a high probability will directly issue CAKE rewards to VECAKE holders.

The following is the explanation on bribery issued by WOM white book for everyone to read.

metered voting

Starting April 12, 2023, veWOM holders can participate in metered voting to determine 50% of WOM emissions.

Users can allocate their votes (1 veWOM = 1 vote) to one or more meters (the meters correspond to the pool’s LP tokens) through the dapp. A meter's WOM emissions are proportional to the votes it receives.

Real-time word-of-mouth accumulation; WOM distribution based on the era

The voting indicator accumulates WOM second by second based on voting weight. When a user requests a new allocation for their vote, the meter's WOM accumulation rate is updated immediately. There is no cooling off period between votes. Users can update their vote allocation at any time as long as they have enough veWOM. Only whitelisted indicators can accumulate word-of-mouth from users' votes.

However, the accumulated WOM will be distributed to LP in an even proportion in the next epoch. 1 epoch lasts 7 days.

For example, if a meter receives 70k WOM in the current epoch, it will distribute 10k WOM to LP stakers every day in the next epoch.

basic allocation

The remaining 50% of emissions are allocated as the base allocation weight shown in the dapp. The purpose is to provide staking incentives for the main pool and the bribe pool, with the bribe unlikely to attract sufficient liquidity.

bribe

The agreement itself supports bribery. Partner protocols can offer bribes to entice veWOM holders to vote for their pools/tokens, thus providing greater rewards to LP stakers. If you want to offer a bribe to the meter, you can contact the Wombat team.

Voters who accept bribe meters can receive bribe rewards every second. Users can check the reward rate and claim rewards in the dapp.

bribery efficiency

Bribery efficiency represents the dollar value of emissions generated by a $1 bribe. If the value is greater than 100%, the protocol can use bribes to amplify its emissions. The current value can be found at https://app.wombat.exchange/gauge-voting.

Next, let’s take a look at the two projects that are about to be cooperated with PANCAKESWAP recently.

1. Project link https://www.pancake.magpiexyz.io/stake

Convert $CAKE to $CKP airdrop and IDO distribution. 3% of the total $CKP supply is allocated to CAKE RUSH. You earn points for every $CAKE you convert. $CKP will be distributed to users based on their accumulated points. Advancing through the brackets allows you to earn more points, resulting in higher points per $CAKE conversion. Reward point rate +0 ~ 2,000 $CAKE = 1 point / $CAKE +2,000 ~ 10,000 $CAKE = 1.1 points / $CAKE +10,000 ~ 50,000 $CAKE = 1.3 points / $CAKE +50,000 ~ 100,000 $CAKE = 1.6 points / $ CAKE +100,000 $CAKE exchange for 2 points/$CAKE b. For the first 5 days starting from now, participants can earn 20% bonus points, decreasing by 5% every 5 days. C. Once Cakepie is released on the BNB mainnet, you can apply for $mCAKE. D. The APR calculation is determined by extrapolating the estimated $CKP airdrop (estimated at $50 million in FDV) based on the estimated remaining time in the campaign. 30% of the $CKP airdrop of "CAKE RUSH" will be unlocked at TGE, and the rest will be distributed linearly within 1 year. E. The process of exchanging $CAKE for $mCAKE is irreversible. However, if any circumstances prevent cakeepie from successfully publishing, you will be entitled to a full refund of your promised CAKE.

2.https://skillet.finance/prelaunch

Notice:

1. To reward early adopters, the event will be divided into three phases, which will benefit early participants. The first phase will provide a reward of 0.5 SKT for each CAKE, with a cap of 3 million CAKE. The second and third phases will provide rewards of 0.2 SKT and 0.1 SKT respectively, with a cap of 5 million CAKE. Rewards will be distributed according to the amount of CAKE converted in each stage.

-The first phase: November 11th UTC 6AM - November 16th UTC 6AM, 1 CAKE = 1 sCAKE + 0.5 SKT (the upper limit is 3 million CAKE);

-The second phase: November 16 (UTC) 6AM - November 26 (UTC) 6AM, 1 CAKE = 1 sCAKE + 0.2 SKT (the upper limit is 5 million CAKE);

-The third phase: November 26th UTC 6AM - December 11th UTC 6AM, 1 CAKE = 1 sCAKE + 0.1 SKT (the upper limit is 5 million CAKE);

2. Please note that after Skillet Finance is fully launched, all CAKE contributed to this event will be locked in veCAKE. In return, participants will receive sCAKE, a liquid packaging of the cake. This process is irreversible. However, sCAKE can be exchanged back to CAKE through the liquidity pool. sCAKE will be exitable after full rollout.

3. SKT reward tokens will be available for collection after the full release. To encourage long-term commitment and ensure the sustainability of Skillet, we offer two options for claiming rewards: 1) Applying for rewards directly to your wallet will result in a 40% penalty, the amount of which will be sent back to the treasury for future use Activity. 2) Lock your rewards in vlSKT for 6 months, after which you will receive the full reward. You can also vote for rewards by locking SKT.

4. The distribution of SKT reward tokens is 3% of the total supply of SKT.

Disclaimer:

1. Skillet Finance activities are for reference only and do not constitute financial advice. Participants should conduct their own due diligence and carefully consider the risks involved before making any investment decision. Skillet Finance does not guarantee any specific results or returns.

2. Skillet Finance reserves the right to update or adjust event rules at any time without prior notice. Participants are advised to regularly check the latest version of the event rules for any changes or updates.

Let me tell you my personal opinion.

First of all, except for some differences in details, these two projects are mostly similar, a cake pie and a cake pizza, haha, that’s about it.

For cake noodles, there are only two problems.

1. Do you want to participate in these two projects?

First of all, these two projects are sub-ecologies based on the CAKE project, and they are both dependent on the CAKE platform. Currently both are pledging CAKE 1:1 to MCAKE or SCAKE respectively, based on the quantity of 1:1, and the corresponding number of tokens are obtained at different levels according to the data (CAKE RUSH=CKP, Skillet Finance -SKT). ​​Everyone If you are interested, check out their project address.

2. If you participate, which one should you participate in?

Compared to magpiexyz.io, Skillet Finance is much stranger. MAGPIE has already operated and participated in other DEFI projects, so there is no problem. It is operating in WOMBAT, PENDLE, and RADIANT, everything is normal, PACKPIE is already the 4th PIE, and I don’t know much about the other Skillet Finance. Maybe if you know more about it, please add it in the comment area.

At present, these two CAKE ecological projects to be launched are fully supported and fully cooperated by the kitchen. Because they can actively empower CAKE tokens with more usage scenarios and lock more CAKE in circulation. It has the same effect as staking in the mainnet POOL pool.

But the locking places are different. One is locked on the main network, and the other is locked on CAKEPIE or SKILLET FINANCE. But they later locked it back to the main network. They actually used the participants’ CAKE to get VECAKE on the main network. , and the original participants’ CAKE is given to MCAKE in MAGPIE, and to SCAKE in SKILLET FINANCE. These tokens will eventually become LP pools such as CAKE-MCAKE and CAKE-SCAKE on the CAKE main network, and then the two projects will use participants The given CAKE gets the VECAKE with bribery voting rights and the token LP emission on the PANCAKESWAP mainnet. Participants get the MCAKE or SCAKE in their hands, and receive the issued CKP or SKT tokens. MCAKE SCAKE will also lock up and receive project dividends. For details, please go to their homepage to learn more. I will talk about some simple content here. There are definitely risks. There is a high probability that the MCAKE SCAKE you take will be lost for free. Some people will share the dividends in MCAKE or SCAKE and get CKP or SKT. CKP or SKT should be locked up to give profits, so as to lock in liquidity layer by layer. Reduce token selling. Some people will go to the LP pool to exchange for the lost CAKE.

To put it simply, participating in CAKEPIE (CAKE RUSH) to create new CKP or Skillet Finance to create new SKT, I think it has a similar purpose to the IFO of the CAKE mainnet. They both use CAKE to create new products, and participants lose CAKE, but The current bribery project is to give MCAKE or SCAKE relative to CAKE. It is generally believed that when it is exchanged for LP, the CAKE it gets is reduced, and there will be a loss. You have to get CKP or SKT accordingly, and the reward is not the full amount, like CKP only unlocks 30%, and SKT will deduct 40% if redeemed early. There is a time limit. The rules of the two projects are different. If you want to play, I suggest you play in small amounts for fun.

There is a high probability that big investors in CAKE will not be interested, because the mentality of big investors is to stabilize my principal, and they are really not willing to spend the CAKE in their hands.

This article focuses on the introduction of the bribery mechanism, which is what the CAKE chef has to do, and other project sub-ecologies will cooperate with it.

I am very happy that the CAKE project team is walking on a very bright road. Everything is done to reduce the emissions of CAKE, deflate the total amount of tokens, reduce circulation as much as possible, and increase the usage of CAKE tokens. This is a positive energy that spirals upward. , driving the price of CAKE tokens to continue to rise and contributing to reducing selling pressure.

People in the community often ask, will the CAKE bull market go to 20U? What I want to say is that the kitchen has been buying back and burning according to the handling fee, maintaining total deflation and reducing the circulation in the market. Continue to start the emission reduction mode in a timely manner after the currency price rises, 20U, WHY NOT? Everything is possible. 10 times, 20 times (CAKE at the time of publishing =2.223), let’s see what the price will be in two years, right?