PancakeSwap March Recap
Perpetual Trading, PancakeSwap Mini-Program, Coinbase Wallet, DUET IFO, Kitchen AMA, Q1 Roadmap Update, BNB Smart Chain Token Lists, #PancakeCelebration Community Event, and More!
Data Recap
Overall
- Total Volume: $12.1B
- Average Daily Volume: $391M
- Unique traders: 3M
- Unique onsite users: 8M
- 7 CAKE staker reward pools (Syrup + Boost)
$CAKE
- Total burned: 27M CAKE ($180M)
- Bought back from the market to burn: $10M
- Total CAKE Emission Rate: 14.25/block
- Effective CAKE Emission Rate: ~10.62/block
- # of holders: 1,169,504 (+3%)
🍽✅ Served Last Month
Kitchen Interviews with Chef Nina, our beloved community manager, continued this month with the infamous Duck on the team interviewing herself. You can find the full interview here.
Kitchen AMA #1 on Discord
On 10 March, the Chefs joined our wonderful community in our Discord server for our Kitchen AMA #1. Read the full recap here. We had such a blast that we are already looking to schedule our next one!
Perpetual Trading
The Chefs were happy to serve up perpetual trading in collaboration with ApolloX Finance! Thanks to our partnership with ApolloX, traders on PancakeSwap can enjoy deep liquidity and tight spreads on a wide selection of future contracts right away.
Try it today at https://perp.pancakeswap.finance/en/futures/BTCUSDT!
🔥 PancakeSwap perpetual trading fees will be used to buy back and burn $CAKE!
🥞 Depositing $CAKE will give traders a 5% discount on trading fees!
ApolloX added the CAKEUSDT perpetual contract and provided a guide on using CAKEUSDT to hedge against risk and help you offset potential losses. You can learn more here.
Please refer to our documents for more information on perpetual trading (including a glossary of common terms), FAQs, and how-to guides.
Perpetual Trading Lucky Draw Event
PancakeSwap and ApolloX are sponsoring a lucky draw event to celebrate the launch of perpetual trading on PancakeSwap, with a total prize pool of 100,000 USDT! The event includes four weekly draw periods, with the last weekly draw period from 06 April 2022 00:00 UTC to 12 April 2022 23:59 UTC.
PancakeSwap Mini Program, in Partnership with Binance
PancakeSwap is the first DeFi project to launch a Binance Mini-Program within the Binance ecosystem, allowing users to seamlessly use PancakeSwap within the Binance mobile application! The PancakeSwap Mini-Program will help attract Binance users to experience the revolution of our decentralised platform while utilising the first version of the Binance DeFi Wallet.
Upon launch, we only integrated the swap feature in the Mini Program, one of the essential features for Binance users to buy tokens not listed on its CEX. In the following months, we will continue to work tirelessly to add more and more features to the Mini Program, including core functions like liquidity mining, Syrup Pool, and many other features!
IFO: DUET Protocol ($DUET)
DUET Protocol ($DUET) IFO completed with $54.03M worth of CAKE (at the time of IFO) being committed to the IFO — with an overflow multiplier of 38! DUET Protocol is a multi-chain synthetic assets ecosystem, enabling pegged assets from various markets — from individual stocks to indexes, ETFs, and commodities.
Reduced Participation Fee and DUET-CAKE Pair
We continued with the IFO 3.1 format, as first introduced in the Game of Truth ($ERA) IFO last month. After receiving feedback from the community, we reduced the participation fee for the public sale by 50% from the previous Game of Truth IFO. Users were required to own a Pancake Squad bunny NFT and set it as their Pancake Profile avatar to participate in the Private Sale. The Private Sale oversold by 2x!
Additionally, we continued with the new IFO Syrup Pool to reward our bunny supporters with juicy APRs. For the first 5 days after the IFO Syrup Pool launched, only users with PancakeSwap Profiles could stake in the pool with a 100 CAKE staking limit.
For the DUET Protocol IFO, the kitchen provided a DUET-CAKE farm, introducing a new IFO farm paired with CAKE instead of BNB/BUSD.
CoinGecko and CoinMarketCap BNB Smart Chain Token List Integration
PancakeSwap now offers CoinGecko and CoinMarketCap BNB Smart Chain token lists when selecting a token to swap! Enable under “Manage Tokens” when selecting a token.
Always DYOR before making any investment; PancakeSwap does not manage external token lists.
#BinanceBlockchainWeek in Dubai
PancakeSwap helped sponsor #BinanceBlockchainWeek in Dubai. If you happened to be there and stopped by our booth, meeting you was a pleasure!
#PancakeCelebration Community Event
PancakeSwap celebrated National Pancake Day by hosting a community event asking users to share their creations inspired by one of four PancakeSwap NFTs:
- Blueberry pancakes inspired by Blueberries
- Syrup pancakes inspired by Syrup Soak
- Bunny shaped pancakes inspired by Pancake Squad
- Stacked pancakes inspired by Drizzle’s large pancake stacks (don’t waste any food!)
Below are the winners from each category:
Check out our moment posted on Twitter for a complete list of the winners and their beautiful pancakes!
https://twitter.com/i/events/1506311648151314440?s=20
Q1 Roadmap Update
The Chefs have been cooking up a storm in Q1 and have provided our amazingly supportive community with our Q1 Roadmap Update. The article contains more details about each item shown below:
Farm Auctions
9 different projects joined Farm Auctions to bid for a coveted PancakeSwap farm. We launched #16, #17, and #18 auctions, with 9 winning farms in total in March, burning a total of 62,220 CAKE.
We’ve burned a total of 524,640 CAKE so far since the first auction launched in August.
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.
PancakeSwap March Development Visualisations
Check out this month’s development on the PancakeSwap Github with 👉 this sweet visualisation video 👈 !
Proposals
CAKE gives a voice to the PancakeSwap community, letting the community vote on various proposals that relate to the platform. CAKE holders voted on 10 core proposals in March.
Voting on a proposal for a new Syrup Pool and Farm is essential.
- A new farm incentivises liquidity providers and offers a new opportunity for users to earn CAKE. A new farm will slightly dilute the CAKE rewarded to existing farms.
- A new Syrup Pool allows CAKE holders to stake their CAKE for a new token.
All proposals for boosting or adding a new farm and Syrup Pool passed this month.
Proposals for adjusting farm rewards are critical. The purpose is to redirect CAKE rewards given to underperforming farms and provide them to farms that offer the most value. Redirecting CAKE to other farms allows PancakeSwap to incentivise farmers to provide more liquidity to pairs with higher daily volume, new projects, or unique tokens on BSC. This can attract new users and help increase trading volume enabling PancakeSwap to be a one-stop shop for DeFi, sharing PancakeSwap with more users and adding more CAKE lovers!
When reviewing these proposals, one thing that is always unclear to people is that we aren’t “removing” rewards from the farm itself. We simply redistribute the CAKE rewards from underperforming farms to the farms that provide the most value.
Additional Items
- $CAKE is now listed on Huobi!
- Coinbase wallet is now integrated with PancakeSwap and included in our wallet guide.
- CoinMarketCap has provided us with early access to the Live Chat and CrypTown functions on CoinMarketCap.com! All are welcome to join the live chat, share your opinions, and follow our account!
- The Open DeFi Notification Protocol app now supports PancakeSwap, providing its users with free mobile notifications for on-chain events.
👩🍳🕔 Still Cooking (Coming Soon)
MasterChef v2
MasterChef v2 gives us the power to have more elaborate adjustments on our tokenomics and CAKE emissions. It makes fixed-term staking possible and allows us to divert CAKE rewards to future PancakeSwap products. The audits are complete, and the team is conducting final testing with the MasterChef v2 migration set for mid-April. Find out more in our Coming Soon: MasterChef v2 article.
Fixed-Term Staking
We are looking at a brand new, all in one CAKE Syrup pool that replaces all three current CAKE Syrup pools while adding fixed-term staking functionalities. On top of that, if you lock your CAKE in this Syrup Pool, there will be extra benefits you don’t want to miss. Similar to MasterChef v2, the audits are completed, and final testing is underway, with the new CAKE Syrup Pool set to launch in mid-April. Check out our Coming Soon: Fixed-Term Staking article and our Coming Soon documents page for more details and FAQ.
A New Round of Trading Competition
We are actively working with MOBOX and another well known GameFi project to bring two new rounds of PancakeSwap trading competitions to our community. PancakeSwap’s MOBOX trading battle was announced for 13 April to 19 April. Users must register by 12 April 2022 23:59 UTC to participate. We have introduced new game rules, more exciting NFT prizes, and bigger prize pools to bring more dynamics to the game and make further adjustments in the following trading competition. So, set up your PancakeSwap profile, choose your team wisely, find your teammates in the team Discord channels, and get ready for the upcoming battle!
NFT Based Gamification
We have experimented with creating our own game content. We have learned that much more research and development are required to provide meaningful rewards and a seamless user experience. Going forward, we will instead try to bring other partnerships together as a core platform on BSC. It will help us bring entertainment and NFT utilities to the market more efficiently and provide exposure and traffic to other projects to advance the BSC ecosystem as a whole. We still believe in games as a long-term trend, especially for mass adoption, and know our community does too.
Hackathon
After the release of the new CAKE Syrup Pool and migration to MasterChef v2 is complete, we will be hosting our own hackathon!
In the meantime, check out our bounties for the Revelation Hackathon by BNB Chain!
Become a Chef
We’re still hiring for positions in the kitchen! Think you’ve got what it takes to become a Chef?
We still have plenty of roles open, including the recently added Business Development Manager and Communications/Public Relations Manager roles. Check them out on our hiring page!
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?
🤔 Apart from all the new things mentioned above, is there anything else you’d like to see?
Please join us on Twitter, in our Telegram group, in our Discord server, or in our growing Reddit community!
Stack ‘em!
Chef Xander 🐰🥞
