Proposal for Axelar ($AXL) Syrup Pool and Farms

PancakeSwap Welcomes Axelar ($AXL) to Syrup Pool Again!

Dear CAKE holders, we’re proud to announce a new Syrup Pool with Axelar!

Axelar is a cross-chain communication protocol built on proof-of-stake consensus. It allows users to send tokens across connected chains, and developers building on one chain to call any function on any other connected chain.

The Syrup Pool:

Stake CAKE tokens to earn AXL tokens!

• Total Tokens: 89,400 AXL
• Distribution duration: 60 days
• Start time: Approx. 0830 UTC on 12 Jun 2023
• Finish time: Approx. 0830 UTC on 11 Aug 2023
• Token rewards per block: 0.05173 AXL

Max Stake per Wallet:

100 CAKE for the first 48 hours of the Syrup Pool.

The cap is to give everyone an equal opportunity to farm rewards at a high APY.

The Farm:

In conjunction with the AXL Syrup Pool, we’ll be upgrading the axlUSDC-USDT (Stableswap) farm and the AXL-USDT (0.25% fee tier) v3 farm on BNB Chain.

The axlUSDC-USDT farm will have 3.7x CAKE rewards while the AXL-USDT farm will have 3.3x CAKE rewards for the entire 60 days. During and at the end of the 60-day period – approx. 0830 UTC on 11 Aug 2023 – the farms will be re-adjusted to a lower or zero multiplier unless the following metrics are comparable with other farms of a similar multiplier: average daily volume, 14-day volume, unique token holders on BNB Chain, and there are no fundamental token issues or concerns related to users’ safety and security.

What is $AXL?

From the team: “Axelar Network uses proof-of-stake consensus. Token holders can stake the AXL token with validators and receive rewards. AXL is a governance token, allowing stakers to govern parameter changes and protocol upgrades.

For cross-chain transactions, AXL is used to pay network transaction fees. However, users only need to pay gas using the source-chain token. The protocol will convert the source-chain tokens into AXL and destination-chain tokens smoothly in the back-end.

AXL token is inflationary as staking rewards increase the total supply — but there is potential to become deflationary via a token burn mechanism, if the transaction fees collected exceed the total network processing cost.”

To learn more, visit the project’s official channels:

• Website: https://axelar.network/
• Cross-Chain Bridge: https://satellite.money/
• Cross-Chain Swap Router: https://app.squidrouter.com/
• Twitter: https://twitter.com/axelarcore
• Discord: https://discord.gg/axelar
• Block Explorer: https://axelarscan.io/
• Dev Docs: https://docs.axelar.dev/
• Github: https://github.com/axelarnetwork

How do you stake CAKE to earn $AXL rewards?

Follow this guide to staking in Syrup Pools:

https://docs.pancakeswap.finance/products/syrup-pool

⚠️⚠️⚠️BEWARE OF FOOD POISONING⚠️⚠️⚠️💀

The official AXL token contract address on BNB Chain is:

https://bscscan.com/token/0x8b1f4432F943c465A973FeDC6d7aa50Fc96f1f65

​Any other AXL token will be a scam. Always verify the token address before buying tokens. If you receive an AXL token airdrop from another address, it’s probably a scam, and we advise you to ignore it.