u.today
One of the largest DEXes in crypto is initiating a game-changing liquidity initiative for its community. Now, generous rewards are available not only on "incentivized" pools but for all CAKE stakers as well.
PancakeSwap launches Revenue Sharing Pool for CAKE stakers
According to the official announcement shared by the team of PancakeSwap (CAKE), a flagship BNB Chain's DEX, its massive Revenue Sharing Pool kicks off for all CAKE holders.
đ„Introducing Revenue Sharing Pool: Earn real yield from PancakeSwapâs v3 Trading Fee Revenues!
â PancakeSwapđ„Ev3ryone's Favourite D3X (@PancakeSwap) July 31, 2023
đFixed-Term CAKE stakers now get to share in the growth and success of PancakeSwap directly. https://t.co/2MEbNE4hgR pic.twitter.com/b3BDgPiWXw
With the new mechanism, liquidity providers of the fixed-term CAKE pool will be able to share 5% of the revenues generated from all v3 trading pairs with 0.01% and 0.05% fee tiers.
That said, besides the "regular" CAKE staking rewards, users will be able to receive and claim their shares of PancakeSwap v3 trading fees seamlessly.
PancakeSwap's total v3 trading volumes have eclipsed $12.5 billion, the team's statement says.
As covered by U.Today previously, PancakeSwap (CAKE) launched its own play-to-earn product in May 2023. Its Pancake Protectors went live in mainnet with real rewards.
Extra rewards for "early birds" of CAKE community
The exact amount of rewards will be calculated proportionally to the size of a user's CAKE stake and the duration of his/her staking period. Maximum staking time is 52 weeks, the announcement says.
Rewards will be distributed between the participants of the program every week. In order to celebrate the launch of the initiative, the first four distributions will each receive 25% of the revenue sharing rewards from June and July, two months prior to the program's start.
Following the announcement, the price of CAKE jumped over $1.59 on major spot trading platforms, adding 6.7% in almost no time. The token is back to the top 100 of the largest crypto assets on CoinMarketCap, with $337.4 million in aggregated capitalization.