[The veCAKE system is now live on zkSync Era. CAKE token surges! 】
The decentralized trading platform PancakeSwap has taken a key step in introducing veCAKE Gauges in the zkSync era, enhancing veCAKE holders’ influence on CAKE token issuance, symbolizing a milestone in its governance ecosystem.
The veCAKE system, namely "vote-locked CAKE", gives holders more power and directly affects the distribution of CAKE in the liquidity pool. The system provides multiple functions, including direct issuance through gauges, allowing holders to influence the reward distribution of specific pools.
According to CoinMarketCap data, PancakeSwap’s native token CAKE has grown significantly recently and is currently priced at $3.71. It appreciated 28.14% in the past day, showing strong short-term performance. It rose 68.37% in a week and 56.88% in a month.
With this integration, 0.0131 CAKE releases per block that originally pointed to zkSync farms are now included in veCAKE. Partnering with zkSync promises additional benefits for users, such as improved scalability and lower interaction costs.
PancakeSwap encourages new users to learn about veCAKE through its documentation and emphasizes the importance of updates. This guide provides detailed information on how veCAKE works, its benefits, and how users can participate in platform governance and decision-making.
This value growth reflects positive market sentiment and increased investor interest, and coincides with major developments such as the introduction of veCAKE Gauges and zkSync integration, demonstrating the substantial progress and potential of the PancakeSwap ecosystem.
