PancakeSwap

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<a href="https://bitcoinworld.co.in/pancakeswap-launches-a-new-voting-system-and-sunsets-vcake-metric/" title="Pancakeswap Launches A New Voting System And Sunsets vCAKE Metric" rel="nofollow"></a>
<ul> 
 <li>Pancakeswap launched a new feature that allows governance token holders to vote on which pools will receive the most rewards.</li> 
</ul> 
Decentralized crypto exchange Pancakeswap has <a href="https://blog.pancakeswap.finance/articles/introducing-gauges-voting-and-ve-cake-your-ownership-of-cake-emissions">launched</a> a new voting system called “Gauges.” 
The system allows governance token holders to vote for additional rewards to be distributed to particular pools, according to a Nov. 22 blog post. The exchange has also sunsetted its vCAKE metric, replacing it with a new metric called “veCAKE.” 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f95e.png" alt="🥞" class="wp-smiley" style="height: 1em; max-height: 1em;">Your CAKE, Your Voice 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f430.png" alt="🐰" class="wp-smiley" style="height: 1em; max-height: 1em;">Introducing Gauges Voting and veCAKE 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f3e6.png" alt="🏦" class="wp-smiley" style="height: 1em; max-height: 1em;">More governance power <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1fa92.png" alt="🪒" class="wp-smiley" style="height: 1em; max-height: 1em;">Control CAKE emissions <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f30a.png" alt="🌊" class="wp-smiley" style="height: 1em; max-height: 1em;">Deeper liquidity <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1fa99.png" alt="🪙" class="wp-smiley" style="height: 1em; max-height: 1em;">Vote Incentives<a href="https://t.co/doaCruwMV6">https://t.co/doaCruwMV6</a> <a href="https://t.co/GxHGHdIG4J">pic.twitter.com/GxHGHdIG4J</a> 
 — PancakeSwap<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f95e.png" alt="🥞" class="wp-smiley" style="height: 1em; max-height: 1em;">Everyone's Favorite DEX (@PancakeSwap) <a href="https://twitter.com/PancakeSwap/status/1727311273023742115?ref_src=twsrc%5Etfw">November 22, 2023</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Pancakeswap is the <a href="https://defillama.com/dexs">third-largest</a> decentralized exchange in terms of total value locked (TVL), according to blockchain analytics platform DeFiLlama. At the time of publication, it had over $1.4 billion TVL. 
Its governance token, CAKE, is distributed as a reward to users who provide liquidity. It is governed by a decentralized autonomous organization, CakeDAO, which comprises all CAKE holders. 
Under the new system, CAKE holders can vote on which pools will receive additional rewards every two weeks. However, to gain the ability to vote, they must lock their CAKE into a smart contract for a set period. 
The longer they lock their tokens up, the more voting power they receive. Voting power is measured in a metric called “veCAKE,” which has replaced the previous “vCAKE” metric, the post stated. 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/reason-why-pancakeswap-cake-suddenly-jumped-by-20/" aria-label="“Reason Why PancakeSwap (CAKE) Suddenly Jumped By 20%” (Edit)">Reason Why PancakeSwap (CAKE) Suddenly Jumped By 20%</a> 
The exchange has also eliminated its “syrup pool” reward system, which previously allowed members of CakeDAO to stake their CAKE to receive an additional share of the exchange’s fees. Instead, the additional fees will now only be given out to users who have veCAKE. 
According to the post, this change was implemented to increase the utility of the CAKE token, allowing only CAKE holders to influence which pools are most profitable: 
“The beauty of this system lies in its exclusivity, as only veCAKE holders can channel CAKE emissions towards the pools where you have stakes, earning additional CAKE emissions as their pools garner more votes[.]” 
To facilitate the transition from vCAKE to veCAKE, the exchange’s interface now provides the option for staked CAKE to be transferred into the new contract by pushing a button and confirming the transaction. 
Pancakeswap isn’t the only DEX adding new features in November. On Nov. 14, Uniswap released an Android version of its mobile wallet, and Sushiswap began testing native Bitcoin swaps across 30 networks on Nov. 17. 
The post <a href="https://bitcoinworld.co.in/pancakeswap-launches-a-new-voting-system-and-sunsets-vcake-metric/">Pancakeswap Launches A New Voting System And Sunsets vCAKE Metric</a> appeared first on <a href="https://bitcoinworld.co.in">BitcoinWorld</a>.

Pancakeswap Launches A New Voting System And Sunsets vCAKE Metric

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