🥞The veCAKE Voting Market
veCAKE holders from PancakeSwap can check which pairs are offering voting incentives for them
We are excited to announce the rollout of Cakepie’s veCAKE Voting Market. CAKE is the governance token of PancakeSwap and can be locked as veCAKE within their platform to participate in voting processes and earn a revenue share. One of the main utilities of veCAKE is the opportunity to allocate CAKE emissions to different liquidity pools across various networks within PancakeSwap by voting through their Voting Gauge Mechanism.
Voting periods on PancakeSwap are known as epochs, and each epoch lasts 14 days. During every voting period, veCAKE holders can allocate their votes to support different liquidity pairs. The amount of CAKE emissions allocated to liquidity pools is directly correlated to the amount of votes each liquidity pool receives through the PancakeSwap Voting Gauge. Essentially, more votes translate to more CAKE emissions for liquidity providers, which subsequently results in higher APR for depositors. This mechanism is designed to attract more liquidity, thereby fostering user participation and deepening liquidity as users benefit from increased CAKE rewards.
Cakepie’s veCAKE Voting Market
Many protocols across DeFi are interested in securing voting support from veCAKE holders in order to gain CAKE emissions for their users through PancakeSwap. As the top veCAKE holder and a core supporter of the veCAKE design, Cakepie has launched the veCAKE Voting Market. This feature opens up opportunities for veCAKE holders as it creates a pathway for protocols to directly incentivize their voting support and participation within the PancakeSwap ecosystem.
The “Vote” tab
In the “Vote” tab, veCAKE holders can view different gauges and the amount of voting incentives allocated to each gauge during the current epoch. Users can decide which gauge to support with their veCAKE. Upon selecting a gauge, voters will be redirected to the PancakeSwap Voting Gauge to allocate their votes. veCAKE voters will be able to claim voting incentives on different networks, according to where ecosystem partners allocate the rewards.
The “Add Voting Incentives” tab
Different protocols are able to enter Cakepie’s veCAKE Voting Market to deposit voting rewards and encourage users to give them voting support. In order to add voting incentives via Cakepie for veCAKE voters, protocols must use the “Add Voting Incentives” tab. Protocols can easily select the pools they want to provide incentives for and deposit the rewards they want to provide accordingly. Ecosystem partners are able to deposit voting incentives via BNB Chain, Arbitrum and Ethereum. Note that the liquidity pairs can be deployed on one specific network and the voting incentives can be deposited using another network.
Now, veCAKE holders can monetize their voting power by voting for different liquidity pools through PancakeSwap’s Voting Gauge, with the opportunity to enter Cakepie’s claim page and collect voting incentives provided by ecosystem partners in exchange for their support. At the end of each epoch, voters will automatically be eligible to share the rewards corresponding to the specific liquidity pairs they decide to vote for. If users use their veCAKE to direct CAKE emissions for a pair, their share of incentives will be proportional to the percentage of total veCAKE votes their participation represents. Please note that voters don’t need to use Cakepie’s Voting Market to allocate their veCAKE votes, but they will need to enter Cakepie’s “Claim” page to collect their incentives accordingly.
As we unveil the veCAKE Voting Market on Cakepie, we’d like to extend a heartfelt thank you to all our users for their support. This marks a new and exciting phase for the veCAKE ecosystem, providing participants with unique opportunities to monetize their voting power and influence within the PancakeSwap ecosystem. Remember, your participation is key to shaping our collective future. Stay tuned for more updates and enhancements as we continue to build and improve your experience.
Note:
20% of the incentives added to Cakepie’s veCAKE Voting Market will be allocated to Cakepie’s vlCKP Voting Market for the same pool
Unclaimed voting incentives for veCAKE voters will be accumulated and claimable in future epoch
veCAKE voters on PancakeSwap need to check and claim their corresponding incentives on Cakepie
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