Updated Proposal for a OpenLeverage ($OLE) Syrup Pool and Farm

Reason for Updated Proposal

In the previous proposal, the farm weights were incorrectly listed as 0.5x CAKE rewards for the first 48 hours, then 0.1x rewards after that.

The correct farm weights are 1x CAKE rewards for the first 48 hours, then 0.5x rewards after that.

The chefs have been working in the kitchen day and night, and so we apologize for this fat finger mistake!

PancakeSwap Welcomes OpenLeverage ($OLE) to Syrup Pool!

Dear CAKE holders, we’re proud to announce a new Syrup Pool with OpenLeverage! OpenLeverage is a permissionless lending and margin trading protocol that enables users to long or short any token pair on decentralized exchanges.

The Syrup Pool:

Stake CAKE tokens to earn OLE tokens!

• Total Tokens: 3,000,000 OLE
• Distribution duration: 60 days
• Start time: Approx. 1100 UTC on 08 Jul 2022
• Finish time: Approx. 1100 UTC on 06 Sep 2022
• Token rewards per block: 1.7361 OLE

Max Stake per Wallet:

100 CAKE for the first 57,600 blocks (approx. 48 hours) after the Syrup Pool is launched, then unlimited CAKE staking after that.

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

The Farm:

In order to host the OLE Syrup Pool, we’ll need to provide an OLE-BUSD farm. The farm will have 1x CAKE rewards for the first 48 hours, then 0.5x rewards after that.

Please note that the farm is subject to multiplier adjustments during or after the farm period if it underperforms its peers via metrics like average daily volume, 14-day volume, unique token holders on BNB Chain, fundamental token issues, etc.

What is $OLE?

From the team: “OpenLeverage is a permissionless margin trading protocol currently deployed on ETH, BNB, and KCC chains, supported by the Multichain bridge. Our protocol integrates with existing DEXs and allows users to trade assets with leverage. Traders can add any token pair on our platform and enter long/short positions (with up to 10x leverage), while lenders earn yield on deposited funds.

OLE can be earned from the protocol – e.g. trading, lending, and referral –, and can be paired with BUSD on a designated DEX (in this case, PancakeSwap) to obtain xOLE.

xOLE holders enjoy the following utilities: boosted rewards for trading and lending; liquidity mining rewards, a share of trading fees, and governance. More details can be found here.”

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

• Website: https://openleverage.finance/
• DApp: https://bnb.openleverage.finance/app
• Medium: https://openleverage.medium.com/
• Twitter: https://twitter.com/OpenLeverage
• Telegram: https://t.me/openleverage
• Discord: https://discord.com/invite/OpenLeverage
• Bridge: https://app.multichain.org/

How do you stake CAKE to earn $OLE rewards?

Follow this guide to staking in Syrup Pools:

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

⚠️⚠️⚠️BEWARE OF FOOD POISONING⚠️⚠️⚠️💀

The official OLE token contract address on BNB Chain is:

https://bscscan.com/token/0xa865197A84E780957422237B5D152772654341F3

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