CAKE holders, it’s that time again. We’re proposing a reduction in CAKE emissions to help speed up our quest to become emissions neutral.
“But what about deflationary mechanics?” we hear you ask.
Well, we have the lottery, profiles, IFOs and a lot more on the horizon including: prediction market fees, buyback and burn of exchange fees, and a few more that we’ll keep hidden in our furry paws for now!
Does this vote affect deflationary mechanics in any way?
No. This vote will only decrease the number of CAKE minted each block, slowing the inflation of the total CAKE supply.
Anyway, on to the main event!
The Vote!
Right now, although 40 CAKE is minted per block, only 25 CAKE per block enters circulation (emissions). From 40 CAKE minted,
- -15 CAKE is sent to a burn pool and burned on a weekly basis
- +10 CAKE goes to the CAKE Syrup Pool
- +15 CAKE goes to yield farms and lottery
So, here’s what we’re proposing:
One vote, three options:
❌ No change:
- 15 CAKE go to yield farms
- Total emissions = 25 CAKE per block (including Syrup Pool)
🔥 10% reduction to farms:
- 13.5 CAKE go to yield farms
- New total emissions = 23.5 CAKE per block (including Syrup Pool)
🔥🔥 20% reduction to farms:
- 12 CAKE go to yield farms
- New total emissions = 22 CAKE per block (including Syrup Pool)
Who can vote?
Anyone that had CAKE in their wallets, staked in a Syrup Pool directly through PancakeSwap, or held/staked their CAKE-BNB LP in the farm directly through PancakeSwap at the time of the snapshot (Block #5956574)
Why would I vote to reduce rewards?
In the short term, reducing the rewards may lower farms’ APY a little initially. However, if you’re a long term CAKE hodler, you’ll understand the potential effect on price that reducing the amount of CAKE in circulation may have. Supply and demand.
Issues trying to vote:
Currently we’re using Snapshot’s UI, which has trouble processing all of the requests, and even more so the load when the PancakeSwap community all rush to vote at once!
- You have 48 hours to vote, no rush.
- If you are struggling to load the page on your computer, try it on mobile instead.
- For a guide on how to vote with SafePal, click here.
- For voting with Trust Wallet, see the below.
(If you’re trying to vote on Trust Wallet’s DApp Browser, make sure you press the button as shown above to connect your wallet first!)
Chef Hops 🐰
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