PancakeSwap’s First CAKE.PAD Event Concludes with $221M in Commitments

The first CAKE.PAD early access event on PancakeSwap, featuring the WhiteBridge Network ($WBAI), has officially concluded. The event drew significant participation, with over 67,074,200 CAKE tokens—valued at approximately $221 million—committed by users.

Participants can now claim their $WBAI tokens and unallocated CAKE refunds, according to PancakeSwap’s announcement. Trading for $WBAI has also gone live on PancakeSwap, marking the official start of the token’s post-event market activity.

The event ran from October 14, 2025, 11:00 AM UTC to October 15, 2025, 11:00 AM UTC, and was hosted on the BNB Chain. This was the first project launched under PancakeSwap’s new CAKE.PAD platform, which replaces the earlier Initial Farm Offering (IFO) system.

What Is CAKE.PAD?

CAKE.PAD is PancakeSwap’s new early token access platform designed for CAKE holders. It allows users to commit CAKE to upcoming token launches before those tokens list on exchanges.

Unlike the old IFO model, CAKE.PAD removes barriers such as staking, lockups, or eligibility requirements. Participation is open to anyone holding CAKE in a non-custodial wallet like MetaMask or Trust Wallet.

To join, users simply commit CAKE during an active event and, once it ends, claim the new tokens proportionally to their contribution. Any unallocated CAKE from oversubscribed events is refunded automatically (minus a tiered subscription tax).

All participation fees are permanently burned, directly linking event activity to CAKE’s deflationary tokenomics.

From IFO to CAKE.PAD

Before CAKE.PAD, PancakeSwap used Initial Farm Offerings (IFOs) to host token sales. IFOs required users to stake CAKE or LP tokens, join pools, and meet complex eligibility rules. These steps limited accessibility for smaller or casual participants.

CAKE.PAD simplifies this:

• No staking required
• No lockups or pools
• No whitelisting or eligibility checks

This shift is part of CAKE Tokenomics 3.0, which focuses on usability, deflation, and ecosystem expansion. PancakeSwap described CAKE.PAD as a way to broaden participation while still burning CAKE to maintain supply discipline.

WhiteBridge Network: The First Project on CAKE.PAD

The WhiteBridge Network is the first project to debut on CAKE.PAD. It describes itself as a decentralized trust layer for people-data, combining AI, blockchain, and real-world information to verify and protect human identity.

In a digital world increasingly filled with synthetic and AI-generated identities, WhiteBridge Network focuses on verifying real human users, their reputation, and their credibility.

Key metrics:

• 3.7 million+ searches powered
• Access to 3.59 billion profiles
• Over 100,000 active users
• $3 million annual recurring revenue

The project is backed by ChainGPT Labs, MVB 10 (BNB Chain, YZi Labs, and CMC Labs), and is driven by its native token, $WBAI.

CAKE.PAD Event Details

• Event Period: October 14–15, 2025
• Accepted Token: CAKE
• Chain: BNB Chain
• Token Name: WhiteBridge Network ($WBAI)
• Total Supply: 1,000,000,000 WBAI
• Available in CAKE.PAD: 20,000,000 WBAI (2% of total supply)
• Target Raise: $160,000 (in CAKE equivalent)
• Token Price: $0.008 USD
• Vesting: None (100% tradable immediately after the event)

The event structure allowed proportional token allocation to all participants based on their committed CAKE amount.

Because total commitments far exceeded the target raise, the event was oversubscribed, triggering PancakeSwap’s tiered subscription tax system, which adjusts fees dynamically based on demand.

How to Participate in Future CAKE.PAD Events

Participation is straightforward:

1. Hold CAKE in a non-custodial wallet (e.g., MetaMask, Trust Wallet).
2. Visit the CAKE.PAD dashboard on PancakeSwap during an active event.
3. Commit CAKE to the project’s subscription pool.
4. After the event, claim your allocated tokens and any CAKE refund (if oversubscribed).

There are no staking pools or lock-up requirements. This design makes CAKE.PAD accessible to a wide base of users, aligning with PancakeSwap’s aim to simplify early token participation.

Key Features of CAKE.PAD

1. Early Access to New Tokens

CAKE holders gain early exposure to new projects before public listings. This helps users access tokens that may later trade at different valuations once markets open.

2. 100% Participation Fees Burned

Every CAKE used for participation fees is permanently burned, removing it from circulation. This introduces a deflationary mechanism that strengthens CAKE’s long-term tokenomics.

3. Flexible Commitments

There’s no cap on participation size. Users can commit any amount of CAKE, making it suitable for both small and large holders.

4. Tiered Subscription Tax

In oversubscribed events, a tiered tax system automatically applies. The higher the oversubscription, the lower the tax rate—encouraging fair participation and reducing excessive overcommitments.

Launch Opportunities for Projects

Projects seeking to launch through CAKE.PAD can apply to PancakeSwap’s Business Development Team. The team screens applications to ensure project credibility and long-term viability before approving an event slot.

Once approved, the project sets a raise target, defines the token allocation, and invites CAKE holders to subscribe.

This approach provides a balance between accessibility and quality control, allowing PancakeSwap to support innovation while maintaining user trust.

PancakeSwap’s Broader Ecosystem

PancakeSwap remains one of the most widely used decentralized exchanges (DEXs) in the world. As of 2025, it has handled more than $2.5 trillion in cumulative trading volume, with over 143 million users and a total value locked (TVL) of $2.3 billion.

The platform now operates across ten major blockchains, offering:

• Spot and derivatives trading
• Yield farming
• Perpetuals on real-world assets like stocks
• Multichain liquidity management

The introduction of CAKE.PAD reflects PancakeSwap’s ongoing focus on product maturity, risk management, and ecosystem growth as it marks its five-year anniversary this year.

Conclusion

The WhiteBridge Network launch marked a successful conclusion to PancakeSwap’s first CAKE.PAD event, with more than 67 million CAKE, worth around $221 million, committed by participants. 

The outcome highlights the efficiency and accessibility of the new CAKE.PAD system, which simplifies early token access for CAKE holders, ties CAKE’s utility directly to its burn mechanism, and promotes fair, flexible participation. CAKE.PAD now stands as a key part of PancakeSwap’s ecosystem, combining user involvement with deflationary tokenomics and transparent access to early-stage crypto projects.

Resources:

1. CAKE.PAD announcement by PancakeSwap: https://blog.pancakeswap.finance/articles/cake-pad

2. PancakeSwap five year anniversary press release: https://blog.pancakeswap.finance/articles/5-years-of-pancakeswap

3. First CAKE.PAD Event on PancakeSwap announcement: https://blog.pancakeswap.finance/articles/cakepad-whitebridge-network

4. Pancakeswap X platform: https://x.com/PancakeSwap