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PancakeSwapPancakeSwapby0xaA4Fd25e44BCA62aA69aCe14890852E83092ACD00xaA4F…ACD0

Burning pool and contest

Voting ended about 4 years agoSucceeded

We are Pancake Swap community; it is time for us to show our true power as a community. It seems that if about 10 million more Cakes are burned per month (2.5 million per week), the Cake inflation rate will reach zero or even negative. My suggestion for this is to create a Burning pool that burns the voluntary deposits of the Cake holders on this pool on a weekly basis. For example, if 1 million wallets burn 2 Cakes a week, this goal can be easily achieved. The question that arises is why people should do such a thing. Interesting mechanisms can be offered to encourage people to deposit in this pool.

Reward mechanism:

1- As an Example, At least 10% of all Syrup pool tokens (except Cake) can be allocated to be mined by people who are deposited on this pool (in proportion to the number of cakes they deposited to be burnt on the Pool).

2- Rare NFTs can be awarded as a reward to those who participated in the Burning pool in proportion to their participation and in the form of a lottery on a weekly basis. These NFTs can also be practical, that is, they can offer special privileges to their owners. If the plan is approved, I can provide more details about these NFTs. In addition, for the instance, 5% of the collection of NFTs that each artist offers for sale on the second phase of the Pancake Swap’s NFT Market can be allocated to this pool.

3- Holding a Cake burning competition so that the first to one hundred on the leaderboard can get special permission to participate in the next IFO. For example, they can be dedicatedly allowed to buy 5% of the next IFO in proportion to their rank.

4- A specefic amount of IDO can be dedicated to participant of this pool as airdrop.

5- Redirect specific percent of Cake injecting to lottary to this pool as Airdrop.

And so on.

Conclusion:

This, along with other Cake-burning mechanisms, can cause not only the APY not to decrease, but even increase if the growth of the cake gets negative.

A brief description of the Burning pool: I consider this pool to be a one-sided, means, we can only stake. It will be a pool where anyone can stake as much as they want and can specify how much of cake be burnt weekly (on the time of staking). Alex, for instance, wants to contribute 21 Cake to the Burning pool, he specifies 3 Cakes burn at time of staking (means he participated in this pool for 7 weeks and benefits from its incentives during this period). He, also, does not have to add cake to the Burning pool every week which helps him to have consistent profit. (note weekly staking also possible)

And the last thing is all the fees related to staking Cakes in this Pool will be spent on buying back Cakes from market and burning it.

I would kindly ask Pancake Swap developers offering this as a core proposal if members agreed with the outline.

Off-Chain Vote

I agree with the outline
8.03K 100%
I disagree
0.22 0%
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Timeline

Nov 24, 2021Proposal created
Nov 24, 2021Proposal vote started
Dec 03, 2021Proposal vote ended
Oct 26, 2023Proposal updated