CAKE holders, a new month means a new vote to reduce CAKE emissions!
Right now, although 40 CAKE is minted per block, only 25 CAKE per block enters circulation (emissions). From 40 CAKE minted,
- -18 CAKE is sent to a burn pool and burned on a weekly basis
- +10 CAKE goes to the CAKE Syrup Pool
- +12 CAKE goes to yield farms and lottery
One vote, three options:
❌ No change:
- 12 CAKE go to yield farms
- Total emissions = 22 CAKE per block (including Syrup Pool)
🔥 1 CAKE per block (8.4%) reduction to farms:
- 11 CAKE go to yield farms
- New total emissions = 21 CAKE per block (including Syrup Pool)
🔥🔥 2 CAKE per block (16.7%) reduction to farms:
- 10 CAKE go to yield farms
- New total emissions = 20 CAKE per block (including Syrup Pool)
Who can vote?
Anyone that had CAKE in their wallets, staked in a Syrup Pool directly through PancakeSwap, or held/staked their CAKE-BNB LP in the farm directly through PancakeSwap at the time of the snapshot (Block #5956574)
Why would I vote to reduce rewards?
In the short term, reducing the rewards may lower farms’ APY a little initially. However, if you’re a long-term CAKE hodler, you’ll understand the potential effect to the price that reducing the amount of CAKE in circulation may have. Supply and demand.
Issues trying to vote:
Currently, we’re using Snapshot’s UI, which has trouble processing all of the requests, and even more so the load when the PancakeSwap community all rush to vote at once!
- You have 48 hours to vote, no rush.
- If you are struggling to load the page on your computer, try it on mobile instead.
- For a guide on how to vote with SafePal, click here.
- For voting with Trust Wallet, see the below.
(If you’re trying to vote on Trust Wallet’s DApp Browser, make sure you press the button, as shown above, to connect your wallet first!)