According to Foresight News, the PancakeSwap community has initiated a vote on the 'veCAKE proposal', with a current support rate of 78.1%. The voting will end on November 22 at 18:30. The proposal aims to launch veCAKE to enhance the governance influence of CAKE holders, improve liquidity, and provide more rewards for CAKE stakers. The launch of the voting gauge will allow existing CAKE holders, stakers, and the protocol to start accumulating veCAKE.
veCAKE holders will be able to directly influence CAKE allocation in each pool, reward specific liquidity pools and projects, and enable third-party protocols through delegation. The voting gauge is planned to be rolled out in phases, starting with all liquidity pools on BNB Chain, Ethereum, and Arbitrum. Voting gauges on other chains will be gradually added as all features related to the gauge are launched. The initial phase of veCAKE will include dashboards for all farms currently accepting CAKE emissions in these three deployments, with each released liquidity pool eligible for veCAKE voting.
Regarding Kitchen's participation in veCAKE, the initial total rewards for farm releases on BNB Chain, Ethereum, and Arbitrum will be 0.99 CAKE/block. This allocation will come from the existing CAKE Syrup pool (approximately 0.35 CAKE/block) and farm releases on BNB Chain, Ethereum, and Arbitrum (approximately 0.64 CAKE/block). As part of the voting gauge design, Kitchen proposes to retain a 40% voting share of the total veCAKE votes currently allocated to these farms.
