QIP093: Add CAKE as Collateral for MAI.

CAKE is the governance token for PancakeSwap, the largest protocol on BNB Chain. The project holds a TVL of around $5bn. CAKE’s current market cap is $2.3Bn.

Adding CAKE would also add its derivatives.

Motivation

• Increase TVL
• Increase revenue
• Attract new users

Quorum Standards

The option with the most votes will be adopted.

A weighted average will be used to decide on the minimum CDR if the following conditions are met:

• The options to add CAKE collectively outweigh the option to not add CAKE.
• The option to not add CAKE receives more votes than any option to add CAKE.

Options

• Add CAKE at 130% min CDR
• Add CAKE at 135% min CDR
• Add CAKE at 140% min CDR
• Further discussions needed

*min CDR = minimum collateral to debt ratio