As Q1 comes to an end, we’d like to provide a long overdue update on the Q1 roadmap

Although the Chefs have been mighty busy in Q1, especially with the upcoming MasterChef v2 and the new Cake Syrup Pool migrations, there is still a lot of work to be done. The year may have started off slow but things have really heated up this last month. As we continue to work hard delivering new, exciting features to our community, we would like to update you on our progress in Q1. Keep reading for a summary of our Q1 roadmap items.

IFO 3.1

PancakeSwap implemented the IFO 3.1 format for the Game of Truth ($ERA) IFO. The new format includes a revised private sale and IFO Syrup Pool. Owning a Pancake Squad bunny NFT and setting it as their Pancake Profile avatar is required to participate in the private sale. For the first 5 days after the IFO Syrup Pool was launched, only users with PancakeSwap Profiles were able to stake in the pool. We continue to listen to our community members to further refine our IFO format.

MasterChef v2

The MasterChef v2 is slightly delayed as the Chefs have been working around the clock (and around the world) to ensure a smooth and secure migration for everyone with the help of top auditors. Migration is expected to take place in mid-April along with the new CAKE Syrup Pool (see fixed-term staking).

Be on the lookout for the Chefs “Coming Soon: MasterChef v2” article where we provide a deeper look into what MasterChef v2 means.

Perpetuals Trading

In partnership with ApolloX, PancakeSwap launched perpetual trading and incorporated another CAKE deflationary mechanism by using collected trading fees to buyback and burn CAKE. Additionally, users can deposit CAKE and use it for trading fees to receive a 5% discount. ApolloX also just launched the CAKEUSDT perpetual contract!

We know you like predictions so why not try trading perpetuals? Perpetuals trading is like predictions on steroids. Try it today!

Fixed-Term Staking

As noted in our Coming Soon: Fixed-Term Staking article, a new CAKE Syrup Pool with fixed-term staking will launch in mid-April with the MasterChef v2. We are currently waiting for the smart contract to finish being audited by top audit firms. We’ve heard your feedback and have included FAQs in our new Cake Syrup Pool docs page.

Limit Order

PancakeSwap launched Limit Orders in collaboration with Gelato, allowing you to set up token swaps that will be filled when the market price matches the desired price you set. We know a lot of users want stop-limit orders and the kitchen has been busy cooking it up along with the option of customizing the expiration dates for your orders.

NFT Utility

As part of the new IFO 3.1, we happily introduced our first NFT utility through the IFO Private Sale! To participate in the Private Sale, users were required to own a Pancake Squad bunny NFT and set it as your Pancake Profile avatar. There have been two IFOs so far featuring this, with the first being Game of Truth ($ERA) IFO. Stay tuned as there is more to come!

NFT Based Gamification

In this quarter, we have experimented with creating our own game content. We have learned that it requires much more research and development to provide meaningful rewards and a seamless user experience. Since we still believe in games as a long-term trend and know our community does too, we will continue to explore other partnerships to bring games and NFT utilities to the market more efficiently in Q2.

Hackathon

To provide the best experience, we decided to host the hackathon after the release of the new CAKE Syrup Pool and migration to MasterChef v2 is complete.

Lottery v3

Although we updated the lottery rounds and injection schedule to fit our users’ preferences better, we are still working on lottery v3. We started out just thinking about adjusting schedules, injections and prizes. Eventually we recognized that more research is needed on the product and technical smart contract side in order to provide a revamp that is fresh to our users. We’re back to the drawing board reimagining the whole product direction. This will be a revamp we will complete in Q2.

Referral/Affiliate System

It is a tremendous task to build a referral/affiliate system in a fully anonymous, decentralized world without KYC. We want to build a fair referral system for our loyal users with the goal of attracting those real, actual new users, specifically those we haven’t been able to reach out to. Fairness for this would be crucial as PancakeSwap already has a large user base, A lot of DeFi referral systems are taken advantage of by bots and those knowing the tech.

Chefs are actively researching and discussing the best approach, along with the next logical step for this product.

Additional Items Delivered in Q1

• PancakeSwap Mini Program in Partnership with Binance (more to come!)
• Price chart from Chainlink oracle on predictions site
• Coinbase Wallet Integration
• CoinMarketCap CrypTown early access
• The Open DeFi Notification Protocol support providing its users with free mobile notifications for on-chain events
• More IFOs and Syrup Pools (APR is close to 70%!)
• Continuing to list NFT collections

Conclusion

Although we weren’t able to deliver every item on our Q1 roadmap, the Chefs did make a lot of progress including some secret items such as partnering with Binance for the PancakeSwap Mini Program, integrating Coinbase wallet, and more.

Stack ‘em! 🥞

Chef Xander 🐇