Introducing iCAKE, IFO Updates and CAKE Side-Pool
Hey CAKE holders, PancakeSwap is proud to announce the first fixed-term CAKE staking benefit… iCAKE, which gives loyal CAKE holders increased IFO benefits.
On top of that, we are bringing further improvements to the IFO experience.
And lastly, we also have some updates to our fixed-term CAKE staking pool, which allows users to stake extra CAKE in the flexible pool when doing fixed-term staking.
TL;DR:
The new iCAKE is replacing the IFO Credit, becoming the maximum commit limit of IFO Public Sales.
What is iCAKE?
iCAKE is similar to “IFO credits” from the previous IFO CAKE staking pool, which was retired during the MasterChef v2 migration. After this update, iCAKE will determine the maximum CAKE commit limit in the PancakeSwap IFO public sales.
For example, if you have 200 iCAKE, you will be able to commit 200 CAKE in any upcoming IFO public sales.
iCAKE is NOT a new token, it is a numerical metric being used by the PancakeSwap IFO system.
TL;DR:
The new iCAKE replaces the IFO Credits, becoming the maximum commit limit of IFO Public Sales. Private Sales utilizing NFTs will remain the same as before.
How is iCAKE calculated?
The number of iCAKE you have is based on the number of CAKE staked in the fixed-term CAKE staking pool and the total staking duration of your current fixed-term staking position.
iCAKE works based on a staking duration threshold for all iCAKE users.
If your staking duration is above the threshold, the number of iCAKE you have is equal to the number of the CAKE in your staking position.
If your staking duration is below the threshold, the number of iCAKE you have will be linear decreased and adjusted.
If your staking position is ended, the number of iCAKE you have is 0.
For example, if the threshold is 35 weeks:
- Your current fixed-term staking position has a duration of 40 weeks and 200 staked CAKE. Then the number of iCAKE you have is 200.
- Your current fixed-term staking position has a duration of 21 weeks and 200 staked CAKE. Then the number of iCAKE you have equals 200 × (21 ÷ 35) = 120.
- Your current fixed-term staking position has a duration of 7 weeks and 200 staked CAKE. Then the number of iCAKE you have equals 200 × (7 ÷ 35) = 40.
- Your current fixed-term staking position has a duration of 10 weeks and 200 staked CAKE. But the position is ended. Then the number of iCAKE you have is 0.
Between each IFOs, the kitchen will optimize the threshold based on the average staking duration of the fixed-term staking CAKE pool. The adjustment will be published on all social channels.
📖 To learn more about iCAKE, check out the documents here.
ℹ️ To learn more about how to participate in IFOs, check out the documents here.
Coming SOON
The upcoming IFO will include all the new features, including using iCAKE to calculate the maximum CAKE commit limit and the token vesting feature. We believe that iCAKE and the token vesting features are important to help promote stability and community engagement.
Token vesting will vary in each IFO depending on what will bring optimal results, keep your eyes peeled for the upcoming vested IFO!
Token Vesting in IFO
To vest tokens refers to having tokens that are released over a period of time, rather than all at once. For example, instead of releasing tokens from IFO sales once the sale ends, a certain percentage will be released immediately, with the remaining released over a period of time.
Why?
Token vesting enables us to raise a larger amount of tokens from IFO projects, since having vestings allows projects to have better tokenomics — there will not be a relatively large amount of tokens released into circulation at one go, which is in effect a supply shock.
What this means is that the average PCS user will be able to have a larger IFO allocation that would otherwise not be possible, and we are also able to provide IFO projects with a way to better support effective tokenomics.
How to claim purchased tokens from an IFO with vesting?
If an IFO has token vesting, the details and rules of the vesting will be elaborated in the vote proposal. Be sure to check and get familiar with the vesting schedule before committing to an IFO. You can also click this button in the detail section of an IFO sale to check the proposal directly.
Once the IFO sale is finished. A vesting interface will be presented in the IFO sale section. You can find all the useful information about the entire vesting schedule. Including but not limited to:
- The total amount of purchased token.
- The number of tokens has already been released.
- The number of tokens available to claim.
- When the release schedule is finished.
You can click the “Claim” button to claim any available tokens.
On top of that, any IFO you participated with token vesting will be shown in the new “Token Vesting” card on the IFO page. You can also claim any available token on this card by simply clicking “Claim”.
The icing on top — CAKE Side Pool
Stake CAKE in the flexible pool while doing fixed-term staking
In combination with iCAKE, we are also launching Flexible CAKE for all fixed-term staking users. It is a separate, flexible CAKE staking pool that allows users to stake some of the CAKE with flexible staking while having their CAKE doing fixed-term staking.
The new flexible CAKE side pool is only available to users who have an active fixed-term staking position. If you currently have an active fixed-term staking position, you will see a new flexible CAKE side pool option on the pool page.
Performance fee and unstaking fee rules are identical to the fixable staking in the main CAKE pool. Learn more here.
Stack ‘em!
The Chefs 🐰
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