PancakeSwap
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PancakeSwap

PancakeSwap January Recap

IFO 3.1 with brand new Private Sales, Roadmap updates, More Chefs joined — Q1 dishes are gonna be so delicious.

Data Recap

Overall

  • Total Volume: $19.5B
  • Average Daily Volume: $628M
  • Unique traders: 4M
  • Unique onsite users: 12M
  • 8 CAKE staker reward pools (syrup + boost)
  • BNB won in prediction: 249,471 BNB / $110M
  • Total volume of positions placed: 258,335 BNB / $114M
  • NFT Market trading volume: 6,706 BNB / $2.9M, of which 134 BNB was used to buy back and burn CAKE

$CAKE

  • Total burned: 26.9M CAKE ($283M)
  • Bought back from the market to burn: $16.5M
  • Total CAKE Emission Rate: 14.25/block
  • # of holders: 1,108,116(+3%)

🍽✅ Served Last Month

IFO: Froyo Games (FROYO)

After gathering feedback from the DPT IFO, we made some changes to both the timing and the duration of the last IFO. Froyo Games ($FROYO) IFO was completed with $484.56M worth of CAKE (at the time of IFO) being committed to the IFO — with an overflow of 121 times! As a game publisher, Froyo Games carried the hype and the heat from the GameFi world, straight to our PancakeSwap IFO.

Thanks to the various timing changes, as well as many of the background infrastructure upgrades, our community absolutely loved the overall smoother IFO experience. Rest assured that our Business Development team will continue striving to bring you a greater IFO experience.

IFO 3.1: Private Sale with PancakeSwap NFTs

In January, we introduced the IFO 3.1 and a brand new Private Sale allocation. We believe that the upgrade from Basic Sale to the new Private Sale can help address some of the issues raised by the community and also generate value for our NFT holders.

Starting with the next IFO, in order to participate in the Private Sale, participants will need to meet the NFT-staking requirements by setting eligible NFT collections as their Pancake Profile pictures. Each participant will be able to commit any amount of CAKE up to the maximum commit limit for the Private Sale using the existing “Overflow” method that is currently being used in our IFOs.

Our Business Development bunnies are working hard to align with project teams to bring the next IFO to the table as soon as possible. Check out our wonderful Pancake Squad NFT collection at the PancakeSwap NFT marketplace.

IFO 3.1: IFO Syrup Pools with Pancake Profile Requirements

On top of both the new Private and Public Sales, we have also brought you a new IFO Syrup Pool with Pancake Profile requirements for some extra sweetness in the new IFO 3.1. For a certain period of time, after the IFO project token Syrup Pool is launched, only users with PancakeSwap Profiles will be able to stake in the IFO Syrup Pool. During this period, there will also be a 100 CAKE staking limit to ensure that our loyal community members can enjoy a relatively higher APR at the beginning of the Syrup Pool launch.

To learn more about IFO 3.1, check out our Medium article.

Bug Fixes and Performance Enhancements

In the kitchen, Chefs are not only working on those big, shiny new features, but also on countless small bug fixes and performance improvements. Running a platform with more than 10 million users requires constant nudging and micro-adjustments. Thanks to our amazing partners from Helix, Binance Smart Chain, The Graph, Chainlink and StreamingFast, we are now able to provide a smoother and more enjoyable experience to our users.

This month, we switched the underlying framework for our frontend user interface which will enable us to do more performance upgrades in the future. Expect an even smoother and greater PancakeSwap experience in the near future, brought to you by our amazing Frontend Chefs!

Apart from all of that, did you spot this useful toggle we added to the trading page? 👀

Q1 2022 Roadmap Update

Finally, we are calling it a Roadmap!

Yes, for the first time after the launch of PancakeSwap, we are upgrading the old “To-Do” list and moving on to a new quarterly roadmap … check out some of the exciting dishes we’ve put together! Some of the items are not even included in the menu (yummy) due to security or confidentiality reasons relating to third parties.

Are there any other items you would like to see on our upcoming Roadmap? Tell us on Twitter.

Meet Our New Chefs

  • Chef Momota — Frontend Engineer
  • Chef Philip — Frontend Engineer

The Kitchen has been expanding, with more and more extremely experienced and talented new Chefs joining the Kitchen. Both Chef Momota and Chef Philip are now settled down in their hutches and have started working on some exciting new dishes!

We’re still hiring. Think you’ve got what it takes to become a chef?

We’ve still got plenty of roles open, check them out here: https://docs.pancakeswap.finance/hiring/become-a-chef

Farm Auctions

A total of 8 projects joined Farm Auctions to bid for a coveted PancakeSwap farm pair. We launched #12 and #13 auctions, with 6 winner farms in total in January.

We’ve burned a total of 425,840 CAKE so far since the first auction launched back in August.

Farm Auctions give projects a way to incentivize liquidity provision for their token pairs.

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

👩‍🍳🕔 Still Cooking (Coming Soon)

First IFO with IFO 3.1 Private Sale

Our Business Development bunnies are now working hard in the kitchen to make sure the next IFO with the new IFO 3.1 format will be as tasty as possible. It will be announced very SOON™. Follow us on Twitter to be notified upon the launch.

Lottery Schedule Updates

PancakeSwap’s lottery has always been one of our users’ favourite features. Not only is it super fun but it also contributes a massive amount of CAKE burn from the ticket sales. To fit our users’ preferences better, we proposed to make some changes to the current PancakeSwap Lottery schedule.

To learn more about the scheduling changes, check out our Medium article.

Apart from the scheduling changes, you might notice that Lottery v3 is also in our pipeline. We are currently researching new ticket sales and game types for the exciting lottery system revamp. Chefs aim to continuously upgrade every PancakeSwap product and feature to make them more exciting and appealing.

MasterChef v2 and Farm/Pool Migrations

The new PancakeSwap MasterChef v2 is now in the final stages of testing. Upon launch, global Farms and CAKE Syrup Pools migration is needed. We are trying to make the migration process as smooth as possible, both for our users and our partners on Binance Smart Chain.

We will soon publish a detailed migration plan, technical guides and FAQ with a comfortable amount of time as a buffer before executing the migration process. So stay tuned.

Limit Orders

We have been working closely with our technical partners to solve some of the issues we mentioned in last month’s recap. Expect us to bring this highly-demanded dish to the table very SOON™.

Fixed Term Staking

With a new MasterChef on the horizon, this product is also undergoing a rapid development process. Apart from “the longer you stake, the more you earn”, there are some secret toppings that we are adding to this dish to make it even more delicious. Can you guess what these are?

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 that are already 100% minted on Binance Smart Chain, and your metadata and images must be stored on IPFS or a similar decentralised storage platform.

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

Still hungry?

🤔 Apart from all the new things mentioned above and in our Q1 2022 roadmap, is there anything else you’d like to see?

Let us know on Twitter, in our Telegram group, or over in our growing Reddit community and recently launched Discord server.

Stack ‘em!
The Chefs 🐰🥞

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