Flipping Pancakes: Cakepie is Live

by BSC News

December 27, 2023


Cakepie aims to contribute to the long-term sustainability of PancakeSwap and offers various opportunities for DeFi users on BNB Chain.

In a significant stride for DeFi, Cakepie has officially launched on Mainnet. This innovative platform, developed by the Magpie Kitchen, brings a new level of resilience and efficiency to PancakeSwap's ecosystem on the BNB Chain

   Cakepie is live on Mainnet 

Cakepie's Meta-Governance layer is set to transform the PancakeSwap's ecosystem, offering users enhanced passive income opportunities and a more robust participation framework.

Cakepie's core functionality revolves around the strategic accumulation and lockup of CAKE tokens as veCAKE within PancakeSwap. Having already amassed over 5 million veCAKE at the time of Launch, Cakepie is now the frontrunner in the CAKE WARS, possessing over 30% of the governance rights, voting power, and a substantial share in PancakeSwap's revenue.

Alan Magpie, Project Lead at Cakepie

"The launch of Cakepie's mainnet is a pivotal moment for us. It signifies the beginning of an exciting phase where the deflationary aspects of the CAKE token intersect with Cakepie's unique 'blackhole-capability'."

Features that are now available on Cakepie

mCAKE Claim: Allows participants of the CAKE RUSH to claim their mCAKE and deposit them into the mCAKE Staking pool for a share in Cakepie's revenue.

mCAKE Staking: mCAKE holders can deposit their tokens to earn a share of Cakepie's revenue without a lock-up period. 40% of the revenue allocated to mCAKE is distributed through the mCAKE Staking Pool.

mCAKE Stability Vault: mCAKE holders can lock their tokens in the mCAKE Stability Vault to enhance their passive income and potential benefits while supporting Cakepie’s long-term development. 60% of the revenue allocated to mCAKE is distributed via the mCAKE Stability Vault.

Boosted V3 Liquidity Pools: Enhances CAKE rewards for PancakeSwap liquidity providers, leveraging Cakepie’s large veCAKE holdings.

Convert CAKE: Allows conversion of CAKE to mCAKE at a 1:1 ratio, facilitating enhanced passive income opportunities without a lock-up period.

Revenue Sharing: The revenue sharing model at launch allocates 80% to Liquidity Providers and 20% to mCAKE stakers, with adjustments planned following the CKP TGE.
Robust Security:
Cakepie Successfully Audited by BlockSec and PeckShield

In preparation for our Mainnet launch, Cakepie's platform has undergone a rigorous audit by 2 of the top Auditing firms in the space ensuring top-tier security and reliability.

What's Next for Cakepie?

The next major milestone is the highly anticipated Initial Offering (IDO). Scheduled to take place within 30 days from the launch, this IDO represents a significant opportunity for investors and DeFi enthusiasts to become an integral part of Cakepie's evolving ecosystem. While the exact date is yet to be announced, the anticipation is building rapidly within the community. Learn more about CKP Tokenomics

About Cakepie:

Cakepie is a state-of-the-art SubDAO created by Magpie to bolster the long-term sustainability of PancakeSwap. As a yield and veTokenomics service provider, Cakepie’s core mechanism involves locking CAKE tokens as veCAKE. This process allows Cakepie to secure enhanced yields and amplified voting rights within PancakeSwap, serving up as a Meta-Governance layer, providing prime opportunities for DeFi users.

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