Welcome, Chefs!
Throughout this article, you’ll gather all the information you need around TOP CAKE, our airdrop campaign for users of the CAKE liquid locker.
Let’s dive into it!
A quick summary of sdCAKE
As introduced in our previous article, sdCAKE is our newest Liquid Locker. It is developed based on PancakeSwap’s shift to veTokenomics, leading to the creation of veCAKE.
sdCAKE is our liquid wrapper for veCAKE, combining all the benefits of locking CAKE while remaining liquid.
The TOP CAKE airdrop campaign
The goal of TOP CAKE is to ensure that sdCAKE holders receive rewards, in line with their continuous involvement and contribution to the growth of the CAKE Liquid Locker.
Collect cherries on top of your CAKEs!
Perform actions related to the CAKE liquid locker, and collect as many cherries as possible. At the conclusion of the TOP CAKE competition, each address will be eligible for a reward proportional to their share of the total cherries generated. If you’ve earned 1% of the total cherries collected, you will receive a 1% share of the overall airdrop!
Here is a table explaining TOP CAKE’s point system:
Strategies will be deployed at a later stage with sdCAKE and SDT liquidity on BNB Chain
Users are able to earn (or lose) cherries depending on the actions they make.
Here is a detail of each action:
Mint sdCAKE: The action of depositing CAKE into the CAKE Liquid Locker resulting in the mint of sdCAKE.
Stake sdCAKE: The action of depositing sdCAKE into the sdCAKE staking contract.
Farm CAKE in Strategies: The action of farming CAKE incentives on Stake DAO boosted Strategies for Pancakeswap Liquidity Pool positions on BNB Chain.
Add Liquidity to CAKE/sdCAKE LP: The action of providing liquidity to the CAKE/sdCAKE pair on Pancakeswap on BNB Chain.
Add LP to SDT liquidity on Pancakeswap on BNB Chain: The action of providing liquidity to SDT (Stake DAO Token) on Pancakeswap on BNB Chain.
Vote for sdCAKE or SDT liquidity: The action of voting for the redirection of CAKE incentives towards sdCAKE or SDT liquidity pools on Pancakeswap’s governance.
Market buy sdCAKE when depegged: The action of buying sdCAKE on DEXes when the peg to CAKE is below 95%.
Sell or send sdCAKE of LP token: The action of selling or transferring sdCAKE or LP tokens. Do not forget that transferring sdCAKE or sdCAKE LP tokens will result in a penalty!
As shown in the table above, there are multipliers based on the total value locked (TVL) in the CAKE Liquid Locker, designed to reward early depositors.
The conclusion of the TOP CAKE competition will be announced at a later stage.
Useful links:
- Our Website: https://stakedao.org/
- Our Twitter: https://twitter.com/StakeDAOHQ
- Our Public Community Telegram Channel: https://t.me/StakedaoHQ
- Our Medium Articles: https://stakedaohq.medium.com/
