Pancake Swap Analysis - The VeCAKE Migration Made CAKE Great Again

21 days ago

I used Pancake Swap since day one, farming in there soon after launch. I am still farming 3 years later, event if it is not what it was. The $CAKE token had a serious decline, even if PancakeSwap maintained the top DEX on BNB chain. You can still trade anything... with no registration!

Pancake Swap is still the biggest DEX on BNB chain, and their expansion to new chains created even more trading volume. The 2023 total reached 111 billions, with the highest amount on BNB chain. The trading on Ethereum mainnet reached 3.6 B plus 1.6 on zkSync, showing that the future is multichain.

I had to migrate my stash to VeCAKE and tap into additional benefits. This was done easy, with only few clicks. Now my $CAKE is locked until the 10th of May 2024, and also have 116.95 VeCAKE to voting. The first VeCAKE benefit is weekly revenue sharing and weekly CAKE pool rewards. There are 90k tokens distributed so far, with more to be added on a weekly basis.

Gauge voting changed the way LP providers will earn, with 179 gauges to chose from. The VeCAKE holders will use their tokens to vote for their favorite pools and boost them. They will be able to claim additional benefits from other protocols.

What other benefits I have for holding VeCAKE? I can participate in IFO public sales and support multi-chain IFOs. I can boost my winnings in Trading Campaign rewards, boost my fixed staking rewards, and many more!

I still love the farming opportunities on Pancake Swap, with little gems that can be swapped for good money during pump periods. I farmed some SHELL tokens few months ago, and sold them for 0.068 BNB on their peak value.

Pancake Swap is good for swapping those long forgotten shitcoins. Had a big bag of $CUB locked for one year, and I finally got rid of them. Sold 4761 CUB for 0.032, but this was not a great deal. The CUB tokens were farming but the 1 year lock was a mistake... as their value dropped perpetually to only few bucks!

What else? I sold my $CUMMIES for one CAKE! I got them during the degen times of 2021, when CumRocket was promising to be the most erected meme coins. I thing I still hold a bag of $MILF!

Do you remember the cute bunny NFTs? I won Churro at a giveaway organized by CaribDAO, a community that has good vibes and a top weekly poker tournament. Check them out if you are looking for a Hold'em to fill your Saturday evenings.

Dived straight into the new system and used my VeCAKE to vote. Didn't do any research and choose the recommended gouge, the one that will give me the highest rewards. This is identical with Velodrome, and I have to remember to vote every week.

Did I voted weekly? No I didn't! I remembered to go and check now, while writing this sentence. Went there after few weeks, voted, and hoped that I will remember more often. I want to keep my earnings maximal, and skipping votes doesn't bring rewards.

However, I earned 3.25 CAKE since the migration! The bigger part, 2.71 CAKE, was the pool reward, while the 0.53 CAKE was revenue sharing. I like this new direction and let me say it louder... The VeCAKE Migration Made CAKE Great Again!

I got active in governance as well, voting whenever a snapshot is live! My 69 veCAKE are used to decide the future of the protocol, or just to capture some stuff that the majority of voters think is a good deal. Done my vote, basically following the 99.51% that had time to read about the proposal. Let's keep this pancakes flipping!