PancakeSwap July Recap
IFO with iCAKE, Weighted Voting with vCAKE, Q3 Roadmap Update, Kitchen AMAs… What an amazing start to the second half of 2022!
Data Recap
Overall
- Total Volume: $7.3B
- Average Daily Volume: $236M
- Unique traders: 2.3M
- Unique onsite users: 4.3M
- 4 CAKE staker reward pools (Syrup + Boost)
$CAKE
- Total burned: 27M CAKE ($120M)
- Bought back from the market to burn: $5M
- Effective CAKE Emission Rate: 13.75/block
- # of holders: 1,239,966 (+1% 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 July
First IFO with iCAKE — TRIVIANS
This month, we have launched our first vested IFO that uses the iCAKE feature — Trivian! Trivian is a trivia gaming platform with different game modes such as multiplayer mode, single player mode, 1v1 games, instant play, scheduled tournaments, and live shows, that allow users to earn when answering questions correctly.
We have managed to raise a total of around $1.5M USD for the project, with a significantly higher average token value per user for both the private and public sales compared to the previous IFO. Based on this IFO, we have fine tuned our recipe for the next IFO and aim to keep delivering yummy IFOs.
Keep a lookout as the Trivian team is planning to launch the Web3 version of their game this month!
vCAKE — Weighted Voting Power
In July, we announced another benefit for fixed-term CAKE stakers. The introduction of vCAKE, alongside our already-implemented iCAKE, forms part of our strategy to continue to bring more benefits to our fixed-term CAKE holders and loyal CAKE family!
Previously, the voting power has been 1:1 to the CAKE amount a user is holding. After announcing the brand new fixed-term CAKE staking pool, like every other protocol with token locking, Chefs feel it is not only logical but also essential to bring weighted voting power to those who are willing to lock their tokens for a longer period of time to better reflect and reward their loyalty to the project.
📖 Read more about vCAKE:
https://bit.ly/3BigL2R
📖 Learn how vCAKE is calculated:
https://bit.ly/3QdUtUB
Q3 Roadmap
With June wrapping up not only the second quarter but the first half of 2022, Chefs released the roadmap for Q3 2022 with several stunning items on the board. It may not be a huge list, but every item can be considered huge by itself. More importantly, all of the upcoming products are built to keep bringing in more revenue for the protocol, which means more CAKE burn, helping PancakeSwap to achieve the ultimate goal — CAKE emissions neutral or even deflationary.
📖 Check out the updated roadmap: https://docs.pancakeswap.finance/roadmap
Kitchen AMA #4 — Q3 Roadmap
With the release of our Q3 Roadmap, Chefs put their paws to work and organized a new Kitchen AMA, hosted on Twitter Spaces. Head Chef Snowball and Chefs from the product team joined the AMA and gave a detailed breakdown of all the new features that the Kitchen will be working on in the next quarter.
Thank CakeMage again for moderating the AMA.
Check out the AMA recap here and learn about all the in-depth details of our Q3 items.
Kitchen AMA — vCAKE Special
From its inception, CAKE has been playing another essential role that defines PancakeSwap. With the idea of briefing the PancakeSwap community before implementing the next big update to the voting system, Chef Snowball, Chef Bun and Chef Fran joined on Twitter Space again, and hosted another Kitchen AMA to present vCAKE, our new weighted voting system based on fixed-term CAKE staking.
Missed the AMA? Chef Fran made a recap of the AMA, read more about it here
The kitchen wants to have these types of short-form spaces more often to better communicate the news and stay closer to the community. Do you like it? Tell us what you think.
Perpetual Trading Updates
In July, following our partner ApolloX, the maximum leverage for trading pairs BNBUSDT, MATICUSDT and SOLUSDT was adjusted and increased to 100X. With higher leverage available, make sure you understand all the risks associated with perpetual futures before trading and using leverage! We’re also preparing more marketing campaigns to further promote this feature which can be a very useful trading and hedging tool in this uncertain market.
PancakeSwap Mini Program Updates
Our Mini-Program in the Binance app continues to be an effective way for us to get new users, thousands of users visit and swap through it every day. This month, we have released an update for the Farms and Syrup Pools functions within the Mini-Program to make loading smoother and faster with a webview architecture.
We have also worked with the Binance team to add our Mini-Program directly to their search bar result — if you go to the main search bar on the homepage of the Binance app, and search for tokens not listed on Binance e.g. TRIVIA, ERA, LOOKS — You will be directed to the PancakeSwap Mini-Program where you can trade this token! We believe this is very important for users to get their initial exposure to the wide universe of tokens and DeFi in general through PancakeSwap.
This feature is currently in beta, the list of searchable tokens is currently limited and we’re updating it frequently. We’re continuously improving our Mini-Program so more Binance users can discover PancakeSwap and experience DeFi!
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!
Farm Auctions
In July, serval projects joined Farm Auctions to bid for a coveted PancakeSwap farm. We launched two auctions in July, with 6 winning farms in total, burning a total of 51,520 CAKE!
We’ve burned a total of 770,750 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.
👩🍳🕔 Still Cooking (Coming Soon)
Pottery — Lottery by Staking
We have listened to our community to find a way for CAKErs to easily participate in more features to win — hence here comes Pottery, it combines CAKE lock-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 at least get back all the CAKE deposited.
By the time this recap is released, Pottery is probably already announced and the deposit for the first Pottery cohort is probably already closed. 😅 Still, the next Pottery cohort is coming soon on Sep 5! Head to our docs to learn more about this new feature and be sure to participate when the next cohort is open! We’re still collecting feedback for this feature currently in beta stage and improving it continuously!
Fixed-Term Staking Benefits — Farm Yield Booster
Coding bunnies are now working day and night to complete the final stretch of this amazing new dish. Farm booster (bCAKE) is one of the most crucial puzzle pieces to complete the first initial line of the fixed-term CAKE staking ecosystem products.
Stay tuned to our social channels for the official product release!
Multichain — Swap and Farm
We are hard at work building on other chains in a way that’s familiar to all existing Pancakeswap users. We believe in serving new and existing users on other chains in a way that will encourage them to try all the great features on BNB Chain. Do keep your eyes peeled and join us as we grow from strength to strength!
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… Maybe the Q4 roadmap of PancakeSwap? 👀
Please join us on Twitter, in our Telegram group, in our Discord server, or in our growing Reddit community!
Stack ‘em!
The Chefs 🐰❄️🍫🥟🍡🍋🍪🤖️🌶️🥞
