PancakeSwap Unveils Updates Targeting veCAKE Holders: Farm Booster, Voting, and Revenue Distribution

This week, PancakeSwap rolled out several updates targeting veCAKE holders: — Farm Booster Activated on Base: veCAKE holders can now boost farming rewards

PancakeSwap has announced several updates for veCAKE holders this week.

Starting today, veCAKE holders can now boost farming rewards on Base PancakeSwap. To do this, they will need to enable bCAKE. The multiplier for the boost will depend on the veCAKE balance.

Additionally, holders are being reminded to participate in voting for the new Gauges contract. This is mandatory for ensuring CAKE emission counts. Voting must be completed as part of Epoch 28.

Finally, 11,165 CAKE was distributed to participants with locked staking. The new veCAKE system is now live, offering weekly rewards and revenue shares. Users are encouraged to lock or migrate CAKE before January 8 to claim rewards on January 16.

For more information, please refer to the official tweet by CAKE:

CAKE Info

PancakeSwap is a decentralized exchange (DEX) built on the Binance Smart Chain (BSC). It uses an automated market maker (AMM) model, which allows users to trade directly with a liquidity pool. These pools are filled by users who deposit their funds into the pool and receive liquidity provider (LP) tokens in return. Users can also earn rewards by providing liquidity or staking LP tokens. The native utility token of PancakeSwap is CAKE, which can be used for staking to earn rewards, participating in lotteries, and voting in governance decisions.