🪙mCAKE
Cakepie's version of CAKE
mCAKE refers to "Magpie CAKE", a liquid version of veCAKE that allows users to earn passive income on Cakepie.
CAKE holders can convert tokens into mCAKE at 1:1 ratio on Cakepie to earn boosted APR. Cakepie takes all converted CAKE tokens and locks them on PancakeSwap in order to acquire more veCAKE. This, in turn, allows Cakepie to provide boosted APR for its depositors.
The process of permanently removing tokens from circulation is known as 'blackholing' and cannot be reversed. mCAKE holders have the option to exchange their tokens for CAKE on the secondary market.
