Join Cakepie as a bribery market participant

Overview

PancakeSwap has updated its platform to the veCAKE design with gauges voting, expanding opportunities for the DeFi ecosystem. Cakepie is developing a Meta-Governance layer on top of PancakeSwap, focusing on accumulating veCAKE to leverage its voting power and yield boosting advantages. These benefits are then efficiently provided to users through our platform as currently, Cakepie holds over 37% of the total veCAKE from PancakeSwap.

With veCAKE, Cakepie gets:

  • Governance Rights on PancakeSwap: Can vote on decision making

  • Gauge Voting Power: Can use our veCAKE to distribute CAKE emissions across PancakeSwap liquidity pools (More votes for pools = more cake emissions to its LPs)

  • Yield Boosting benefits: Thanks to our veCAKE, we allow liquidity providers to get their CAKE yields boosted without having to lock CAKE as veCAKE by themselves.

Links to Cakepie:

Proposal

Abstract:

Cakepie has accumulated over 6.8 million CAKE tokens as veCAKE, establishing itself as the top holder in DeFi. This accumulation of veCAKE grants Cakepie significant voting power in the PancakeSwap Voting Gauge. By controlling over 37% of the total veCAKE, Cakepie holds considerable influence over the distribution of CAKE tokens to PancakeSwap liquidity providers. As Venus hosts its XVS liquidity on PCS, we anticipate a collaborative effort where our users will vote for your XVS-BNB pool, directing CAKE emissions toward it in exchange for incentives. This can lead to a cost-effective approach for incentivizing XVS liquidity providers on PancakeSwap while maximizing their rewards.

Motivation:

Cakepie is committed to offering enhanced CAKE rewards within the PancakeSwap Ecosystem. As a leading platform in DeFi by TVL, we anticipate building a lasting relationship with Venus. Our objective is to amplify user involvement and community interaction by providing increased passive income to XVS-BNB liquidity providers, thus aiding Venus’s development and further expansion in the decentralized finance sector.

Specification:

  • The Venus Treasury would offer incentives to vlCKP voters through the Cakepie bribery market to secure their voting support.

  • We suggest that Venus offer $2,000 as a bribe per epoch, for four epochs (amounting to $8k), with the potential to increase the amount and extend the duration of the incentive offerings upon achieving a good bribe efficiency.

  • Each epoch lasts two weeks, so the total investment by Venus would be $8,000 with the goal of gaining more value in CAKE emissions and optimising liquidity for the XVS-BNB pair. This could in turn possibly allow Venus to support bigger XVS Supply Cap limits on its core pool. We aim to achieve a bribe efficiency higher than 2:1, meaning Venus would receive over $16,000 worth of CAKE during four epochs while offering $8,000 in incentives to vlCKP voters via the Cakepie bribery market.

  • VICKP holders from Cakepie will vote for the XVS-BNB PancakeSwap V3 pair in exchange for incentives.

  • More CAKE emissions will be directed towards the XVS-BNB V3 pair in proportion to the number of vlCKP votes it receives through the Cakepie bribery market.

8 Likes

Agree with that sirrrr

1 Like

I completely agree with this proposal; collaborating with Cakepie will greatly help incentivize liquidity providers for the XVS-BNB pair.

1 Like

It would be worth considering this proposal to increase XVS liquidity and XVS Supply Cap limits.

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agree and agree! We need this project

This is a win for both projects. I like it.
I’m on board with any good initiative that will increase Venus users and expand its ecosystem.

great proposal and idea! I agree! Lets do it!

So, so…

I’m not really a fan of what cake is doing with the cakepie right now but it’s a new opportunity for us, anyway.