📝Cakepie Overview
Overview
Last updated
Overview
Last updated
Cakepie is an advanced SubDAO created by the Magpie Kitchen to enhance the long-term sustainability of PancakeSwap's veCAKE design. The primary objective of Cakepie is to accumulate CAKE tokens and lock them as veCAKE, helping to decrease its circulating supply. This allows Cakepie to capitalize on PancakeSwap's structure, optimizing governance power and offering enhanced rewards for DeFi users.
Cakepie provides a platform for users to deposit their assets and automatically receive optimized APR as liquidity providers. Simultaneously, it offers an efficient way for PancakeSwap voters to gain voting power and earn incentives via the CKP token.
Cakepie allows CAKE holders from PancakeSwap to achieve high APR without any lock up period by converting their tokens into mCAKE. Utilizing the principles of the veCAKE model, Cakepie enables users to maximize their CAKE rewards. mCAKE, developed by Cakepie, is a variant of the CAKE token, granting users a substantial share of CAKE rewards and greater flexibility within Cakepie. This system allows CAKE holders to convert their tokens into mCAKE on a 1:1 basis, thereby amplifying their prewards potential.
Cakepie locks all the CAKE converted by users as veCAKE within PancakeSwap, leading to its accumulation. By possessing veCAKE, Cakepie gains access to increased CAKE rewards and governance rights on PancakeSwap, thus facilitating reliable and enhanced earnings for its users.
CKP is the governance and reward-sharing token of Cakepie. Users can lock their CKP tokens as Vote-Locked CKP (vlCKP) at a 1:1 ratio.
Vote-Locked CKP, abbreviated as vlCKP, grants CKP holders both rewards opportunities and governance rights on PancakeSwap and Cakepie. The collective voting power Cakepie amasses through holding veCAKE is distributed among vlCKP holders. This enables them to participate in the governance decision-making of PancakeSwap and influence the distribution of CAKE emissions. Additionally, users holding Vote-Locked CKP are eligible to receive rewards from Cakepie and can monetize their voting power through the Cakepie Voting Market.
