Token Information
- Name: Cakepie Token
- Symbol: CKP
- Total Supply: 10 Million
- Token Type: BEP-20
CKP Token
- CKP — CKP is the governance and revenue-sharing token of Cakepie. Cakepie is a SubDAO created by Magpie to foster the perpetual viability and prosperity of the PancakeSwap ecosystem.
- vlCKP — CKP can be locked within Cakepie as Vote-Locked CKP (vlCKP) at a 1:1 ratio. Ownership of vlCKP entitles users to generate passive income and engage in the decision-making processes of Cakepie as well as PancakeSwap. This is facilitated by the allocation of voting rights from Cakepie’s veCAKE to vlCKP holders.
vlCKP
Upon locking CKP on Cakepie as vlCKP, the tokens enter an indefinitely locked status. Users wishing to unlock their tokens must select the “Start Unlock” option, which initiates a 60-day waiting period. During this cooldown, vlCKP holders will continue to earn revenue from Cakepie but will not be able to vote. After the waiting period is completed, users can unlock their vlCKP back into CKP.
vlCKP can be used to:
- Vote on the governance of Cakepie
- Vote on the governance of PancakeSwap
- Vote on the Cakepie Bribery Market to distribute CAKE emissions across PancakeSwap liquidity pools and earn bribes
- Earn a share of revenue from Cakepie
Force Unlock
Users have the option to perform a “Force Unlock” on their locked CKP tokens before the end of the set 60-day cooldown period. To do this, they must pay a “penalty” fee to access their assets earlier than the timeframe stipulated in the smart contract. The penalty fee starts at 80% of the total CKP tokens locked by the user on the first day and gradually decreases according to a nonlinear scale as more time passes within the cooldown period.
CKP Token Distribution
The allocation of CKP tokens is structured to ensure fairness and transparency. This is achieved through a lock-up period followed by linear vesting for various allocations, supporting the long-term growth and stability of Cakepie.
IDO Allocation Details
The CKP IDO is set to be hosted on the Magpie Launchpad. Users can join any of the groups above to enter the Cakepie Priority Access and secure their allocation for the CKP IDO.
Treasury Allocation Details
The Magpie Treasury is designated to receive 15% of the total CKP Tokens, bound to a vesting timeline of two years. This allotment is integral to our latest strategic integration, highlighting our focus on valuing vlMGP holders. Recognizing the trust and support from our community, we are concentrated on the advancement of vlMGP. Proceeds from this treasury share will be directed to vlMGP holders, reflecting our gratitude. Our enduring goal is to augment the value for vlMGP holders, anticipating a successful and collaborative future.
The token distribution and vesting plans have been meticulously crafted to nurture a robust and sustainable ecosystem, promoting ongoing development and prosperity of the platform.
About Cakepie: Cakepie is a state-of-the-art SubDAO created by Magpie to bolster the long-term sustainability of PancakeSwap. As a yield and veTokenomics service provider, Cakepie’s core mechanism involves locking CAKE tokens as veCAKE. This process allows Cakepie to secure enhanced yields and amplified governance power within PancakeSwap, serving up prime opportunities for DeFi users.
