Proposal for Adjustments to Farm Rewards
Proposal for Adjustments to Farm Rewards
As we continue to migrate PancakeSwap’s v2 pools to their more efficient v3 counterparts, we are able to gradually lower the overall CAKE emission, while maintaining sufficient liquidity to facilitate a smooth trading experience. Ultimately, the migration opens the opportunity to contribute a greater amount of CAKE towards the weekly burn.
The sections below detail the requested changes to continue transitioning v2 pools to v3 and outline the expected increase in CAKE burn.
The previous round of Adjustments to Farm Rewards shifted ~200 CAKE per day from BSC v2 to BSC v3. This round continues on that trend and increases the CAKE burn by ~200 CAKE per day. This is enabled by decreasing farm emissions on select BSC v2 pools, while launching their more efficient BSC v3 counterparts that are listed below.
These optimizations will add up over the coming months to 1) improve the overall efficiency and spend of CAKE across liquidity pools and 2) redirect CAKE rewards towards the highest growth farms, ultimately accelerating the path towards ultrasound CAKE.
Adjustment Details
With the above in mind, we are proposing to adjust CAKE rewards on the farms mentioned below. Across this proposal and the prior adjustment, rewards will be redistributed from farms with reduced multipliers (primarily on v2) to farms with increased multipliers (primarily on v3), along with all other existing farms that maintain the same multipliers.
The reason the below farms have been highlighted is due to their relative performance on metrics such as their average daily volume, 14-day volume, capital efficiency, etc.
v3 Farms with Increased Multipliers
| LP | Fee Tier | Current Multiplier | New Multiplier | Change |
|---|---|---|---|---|
| GMT-USDC LP | 0.25% | 0.0x | 1.0x | +1 |
| LVL-USDT LP | 1.00% | 0.0x | 2.0x | +2 |
| SFUND-BNB LP | 1.00% | 0.0x | 1.0x | +1 |
| RACA-USDT LP | 1.00% | 0.0x | 0.5x | +0.5 |
| HIGH-USDT LP | 1.00% | 0.0x | 1.0x | +1 |
| ARV-BNB LP | 1.00% | 0.0x | 1.0x | +1 |
| HFT-USDT LP | 1.00% | 0.0x | 0.5x | +0.5 |
| CHR-USDT LP | 1.00% | 0.0x | 0.2x | +0.2 |
| HAY-USDT LP | 0.05% | 0.0x | 2.0x | +2 |
v2 Farms with Reduced Multipliers
| LP | Fee Tier | Current Multiplier | New Multiplier | Change |
|---|---|---|---|---|
| GMT-USDC LP | 0.25% | 1.5x | 1.0x | -0.5 |
| LVL-BNB LP | 0.25% | 7.8x | 7.0x | -0.8 |
| SFUND-BNB LP | 0.25% | 1.5x | 1.0x | -0.5 |
| RACA-BUSD LP | 0.25% | 1.0x | 0.7x | -0.3 |
| HIGH-BUSD LP | 0.25% | 1x | 0.0x | -1 |
| ARV-BNB LP | 0.25% | 1x | 0.0x | -1 |
| HFT-BUSD LP | 0.25% | 0.5x | 0.0x | -0.5 |
| CHR-BUSD LP | 0.25% | 0.3x | 0.2x | -0.1 |
| HAY-USDT LP | 0.01% | 1.4x | 0.0x | -1.4 |
Off-Chain Vote
✅ Yes, make the adjustments!
14.32M CAKEVOTE98.7%
❌ No, don't make the adjustments!
183.81K CAKEVOTE1.3%
Timeline
Aug 18, 2023Proposal created
Aug 18, 2023Proposal vote started
Aug 19, 2023Proposal vote ended
Oct 26, 2023Proposal updated