The objective of this proposal is to share ideas on how we can do the following.
Every few weeks we vote to change the rewards for each farm, reducing some and increaing others. This method should be scraped and replaced with a "ve" type voting gauge.
Staked CAKE holders could then vote on how the CAKE rewards should be split between the farms. If a farm get 5% of the vote then they get 5% of the CAKE rewards.
Once a vote deadline has been hit, them reward amounts are locked in for 2 weeks and then votes are recounted every 2 weeks.
On top of the Gauge voting system we build a UI for bribes, where farmers and 3rd party protocols can offer a payment to staked CAKE holders in exchange for their votes.
As the bribe UI builds up and the bribes start coming in, we can start reducing the CAKE emissions being paid to the staked CAKE holders. Replacing CAKE emissions with income from other protocols. The reduction of emissions to the staked CAKE pool should be at a slow and steady rate of 1 CAKE per block per month until the rewards are 0 CAKE emissions.
After the first reduction in emissions to the staked CAKE pool the protocol will redirect 5% of the trading fees (from the 0.01% and 0.05% farms) to rewarding the staked CAKE pool.
To kickstart the system the rewards to farmers should be increased by 0.25 CAKE per block per month over a 6 month time frame, increasing the emissions by 1.5 CAKE per block. Once the ecosystem is up and running we can look at reducing these emissions.
The expected outcome.