Enable team to modify revenue share and CKP emission between mCAKE Staking Pool and mCAKE Stability Vault.
Abstract:
Cakepie is building a Meta-Governance Layer on top of PancakeSwap. The platform focuses on accumulating CAKE tokens to lock them as veCAKE within PancakeSwap and tap into its benefits. This allows Cakepie to get voting power and yield boosting ability, providing cost-effective opportunities for participants of the PancakeSwap ecosystem. CAKE holders can convert their assets into mCAKE at a 1:1 ratio via Cakepie to earn passive income without the need to be locked, as mCAKE can be traded to CAKE on PancakeSwap at market rates. The conversion of CAKE tokens into mCAKE by users provides Cakepie with an avenue to accumulate veCAKE. All the CAKE that is converted by users into mCAKE is automatically locked by Cakepie within PancakeSwap as veCAKE while users receive mCAKE.
mCAKE holders have the chance to earn passive income by staking their assets in the mCAKE Staking Pool or in the mCAKE Stability Vault. Users can decide to lock their assets within the mCAKE SV to share a higher percentage of Cakepie’s revenue.
mCAKE Staking:
mCAKE Stability Vault:
As currently, the TVL within the mCAKE Stability Vault is considerably higher than the TVL in the mCAKE Staking Pool, the APR of mCAKE SV is lower than mCAKE Staking Pool as its rewards are shared between a higher amount of deposited mCAKE. This is not an optimal situation since mCAKE SV participants are core supporters of Cakepie in the long term and locked their assets to earn a higher share of the passive income generated by Cakepie. Taking into account the points mentioned above, this proposal suggests allowing the team to adjust the revenue share and CKP emission between the mCAKE Staking Pool and mCAKE Stability Vault, ensuring higher APR for the mCAKE SV according to its TVL.
Motivation:
Users who deposit their mCAKE in the Stability Vault are core supporters contributing to Cakepie’s long-term development. As fundamental participants, we recognize their commitment to our platform and suggest rewarding them more efficiently by offering a higher APR in the mCAKE SV than in the mCAKE Staking pool. This approach could potentially encourage greater user engagement and long-term participation on Cakepie.
Specification:
Upon approval, the CIP #1 will enable the team to adjust the incentives ratio in response to TVL changes, thus providing a higher revenue share and CKP rewards for mCAKE SV depositors. The objective is to maintain a higher APR for the mCAKE Stability Vault and adjust it as necessary.