PancakeSwap August Recap

bCAKE, Pottery, two IFOs, Perpetual Rewards…even a Bridge!!!The kitchen is on fire and we are approaching our birthday!

Chef Fran

Published in

PancakeSwap

7 min readSep 8, 2022

Data Recap

Overall

Total Volume: $8B
Average Daily Volume: $256M
Unique traders: 2M
Unique onsite users: 5.1M
7 CAKE staker reward pools (Syrup + Boost)

$CAKE

Total burned: 35M CAKE ($142M)
Bought back from the market to burn: $9M
Effective CAKE Emission Rate: 12.75/block (lowered on 11 Aug!)
# of holders: 1,248,900 (+2% MoM)

*As our emissions and burn data are calculated and grouped by weeks, not months, the statistics above may not one-to-one reflect our “monthly burn”, and only serves as a guideline. For more information on our burns, please refer to our weekly burn post on our social channels.

🍽✅ Served In August

Two IFOs are better than one — MetaApes & Wombat Exchange

The first IFO we have launched this month is Meta Apes! Meta Apes is a free-to-play, play-and-earn massively multiplayer online (MMO) strategy game designed for mobile and the first game to launch on the BNB Sidechain with their own dedicated chain, Ape Chain.

We have managed to raise a total of around $1.977M USD for the project .

But it doesn’t end here. We finished the month with another IFO, Wombat Exchange!

Wombat Exchange is a next generation multi-chain stableswap native to BNB Chain.

Utilizing a stableswap 2.0 model, Wombat users are able to: swap stablecoins at hyper-efficient exchange rates with minimal slippage; and earn a sustainable and optimal yield on their assets via single-staking pools.

This IFO was insane in terms of participation, with more than USD 32M committed between both sales 🤯

bCAKE — Farm Yield Booster

Continuing the quest to bring more benefits to our loyal CAKE holders, In August, the Chefs presented the last piece of the puzzle, which completes the first series of fixed-term CAKE staking benefits: bCAKE.

bCAKE — Farm Yield Booster is a series of automatically generated boost multipliers that allows you to boost your CAKE yield from selected PancakeSwap liquidity farms.

New emissions reductions…first time on the Syrup Pool!

It has been a while since we did the last CAKE emission reduction, but we know it’s one of the most discussed topics in the community. As our goal is still for CAKE to become emission neutral or even deflationary, we are glad that community members contributed to both the discussion and governance for this decision.

If you want to read more about why we chose this time to reduce pool emissions, you can learn more from the voting proposal: https://pancakeswap.finance/voting/proposal/bafkreide2rtzqmwezritljamjswp63si4gpt2i7fo7sxf7p64sjinhhoy4

Pottery — Lottery by Staking

As we mentioned in the previous recap, we’ve launched Pottery in August!

Pottery combines fixed-term CAKE staking with lottery elements to give CAKErs a chance to win a bigger yield on their CAKE deposit. It is easy and safe as you will always get back, at least, all the CAKE deposited.

By the time you read this, our second cohort will be closed. The next one will open on the first Monday of October. Take some time to learn how to participate by reading our docs and wish you good luck!

Stargate Bridge

We know that moving funds between networks can be a cumbersome path and requires many steps. That’s why we launched PancakeSwap Bridge — a native asset cross-chain bridge, powered by Stargate.

PancakeSwap Bridge enables users or funds who are not on BNB Chain to seamlessly bridge their stablecoins over to BNB Chain, and participate in the lively PancakeSwap Community and wider BNB Ecosystem!

For a detailed guide about how to use the bridge, you can check out the medium article here: https://medium.com/pancakeswap/launching-pancakeswap-bridge-a-partnership-with-stargate-21c1c9f491a8

Safepal AMA

Speaking about the community, during the last days of August we held an AMA with some old friends to chat a little… the AMA with the Safepal team!

SafePal is a cryptocurrency wallet that aims to provide a secure and user-friendly crypto management platform for the masses.

Tyler, The Marketing Manager of Sapepal, came to tell us about the new rebranding of the Safepal, we answered some questions from the community, and we had a quiz! Winners split $1250 in SFP.

If you don’t want to miss these events, do not forget to follow us on all our social channels!

PancakeSwap Perpetual: Deposit & Trade to Win Rewards for New Users!

In the middle of August we announced a new marketing campaign to further promote our perpetual trading feature by encouraging new users to deposit and trade!

You still have time to participate, the period ends on September 11, what are you waiting for?

Learn more about the details in https://bit.ly/3bHFUtr

Farm Auctions

In August, several projects joined Farm Auctions to bid for a coveted PancakeSwap farm. We launched three auctions in August , with 9 winning farms in total, burning a total of 49,510 CAKE!

We’ve burned a total of 820,260 CAKE so far since the first auction launched in August 2021.

Farm Auctions enable projects to incentivise liquidity provision for their token and provide a way for the PancakeSwap community to be introduced to exciting, new projects!

If you’re a project looking to run a Farm, apply via the PancakeSwap Farm application form.

Meet Our New Chefs

It has been a long time since we told you about the new additions in the kitchen. The team expanded and we want to introduce you to the new chefs:

Chef Kiwi — Data Analyst

Chef Ruby — QA

Chef Oreo — Community Manager

Swaps, Burns, LPs, Fees, it’s all about data. The bunnies in the kitchen wanted to analyze all the data we had to have a better insight of the performance and trend of our products, so we asked Chef Kiwi for help. Kiwi delights us with in-depth analysis every week, with which we can make better decisions.

As you know, PancakeSwap was born as a mvp, a great idea: to be the №1 exchange in the crypto world. Since that time we have released many products. All of them were tested a lot, much of it by the members of the kitchen and beloved admins. To jump to the next level we need to improve this section. Chef Ruby arrives to put paws to work and make the bunnies’ tests more efficient.

And last but not least, our beloved community. It was known that we needed to strengthen the team in order to maintain our close relationship with all of you. From somewhere in the galaxy, Chef Oreo showed up to join Community’s gang and you can see him hanging around, always ready to help any user who needs it.

Become a Chef

We’re still hiring for positions in the kitchen, from Business Development, to Community, and Developer roles! Most of our Chefs started out as users, so we’ll love to hear from you!

You can now find our technical job postings on https://angel.co/pancakeswap, and all other roles on our hiring page Keep checking as we will be adding more technical and non-technical job postings!

👩‍🍳🕔 Still Cooking (Coming Soon)

Multichain — Swap and Farm

Soon!

We are working very hard in the kitchen to be able to make this feature a reality.

By the time you’re reading this, a lot of bunnies are testing and trying to break a lot of things, to make sure we deliver a smooth, easy-to-use product.

You can be sure that we will have several events with the community about multichain, and we will provide all the necessary information about this great step!

PancakeSwap’s 2nd Anniversary!

It has been quite a journey so far, and without realizing it we are about to turn two years old🥳

We have some ideas to celebrate this great milestone, do you have any ideas? Let us know on our social channels!

Calling for more NFT Collections!

Are you the creator of a BSC NFT collection? Applications for listings are now OPEN!

We are currently only processing BEP-721 NFT collections already 100% minted on Binance Smart Chain. Your metadata and images must be stored on IPFS or a similar decentralised storage platform.

Apply to list your NFT collection at https://docs.pancakeswap.finance/contact-us/.

Still hungry?

🤔 Is there anything else you’d like to see in the Q4 of PancakeSwap?

Please join us on Twitter, in our Telegram group, in our Discord server, or in our growing Reddit community!

Stack ‘em!

Chef Fran 🐰🥞