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PancakeSwapPancakeSwapby0x68a6477469663A135Cc213ECDD9B8B98B41bA5710x68a6…A571

Fix lottery ticket prices in $'s

Voting ended almost 5 years agoSucceeded

As the value of CAKE fluctuates in the market, the entry level for lottery tickets can become too high for some. Instead of regularly voting on the number of CAKE required to participate to the lottery can't we fix the price in terms of $ value? That way we make sure that everyone can participate even if they only have a small stack of CAKE.

How would this work since we pay in CAKE not in $'s?

Let's say (as an example!) that we agree on a fixed 5$ price for a single lottery ticket. Right before a new lottery starts we can snapshot the current price of CAKE and determine the amount of CAKE required to participate on the current lottery. In case 1 CAKE is worth $13.5 we can say the price to buy one single lottery ticket is 0.37 CAKE (5$/13.5$). In case the value of CAKE increases to $20 (5$/20$) by the time the next lottery starts the price to participate would drop from 0.37 CAKE to 0.25 CAKE.

In my opinion this would greatly increase the number of participants and will also have a positive impact on the number of CAKE burned. Large stackholders can still buy multiple tickets to increase their chances.

This vote is not intended to fix the price to 5$ or any other dollar amount but only to agree or disagree on the mechanism I propose. The exact price per ticket can be determined after this proposal is agreed upon.

Off-Chain Vote

Yes, # CAKE depends on $ value
10.92K 100%
No, always the same # CAKE
0 0%
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Timeline

Mar 09, 2021Proposal created
Mar 09, 2021Proposal vote started
Mar 14, 2021Proposal vote ended
Oct 26, 2023Proposal updated