# CAKE.PAD

We’re excited to introduce **CAKE.PAD**, the new and improved early token access experience on PancakeSwap, giving you exclusive early access to new tokens before they hit exchanges.

Evolved from our IFO (Initial Farm Offering), CAKE.PAD is built with simplicity, inclusivity, and CAKE utility in mind. No staking, no lock-ups. Just commit CAKE and get early access to new tokens from exciting projects before they hit exchanges.

### What’s CAKE.PAD?

A CAKE.PAD event on PancakeSwap lets you get early access to new project tokens right as they launch.

* Be among the first to own new tokens
* Potentially enjoy higher rewards by entering early
* Available only for a **very limited time**, so prepare in advance!

👉 The flow is simple:

* **You deposit CAKE**
* **The project receives CAKE** (up to its raise target)
* **PancakeSwap burns 100% of participation fees (in CAKE)**
* **You get the new CAKE.PAD partner tokens**

As part of the [Tokenomics 3.0 upgrade](https://pancakeswap.finance/voting/proposal/0x79ef496c9737e48d9677a6e291ff2a549dee6729c9996398e453af8ecbf0ceb3), we’ve made **CAKE.PAD** simpler, leaner, and easier to participate.

### What’s Changed?

| Updated CAKE.PAD Format                                                                                                                                                  | Previous IFO Format                                      |
| ------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------------------------------------------------------- |
| Only **1 type** of event- Anyone with CAKE can participate                                                                                                               | Multiple types: **Basic / Private / Public**             |
| **No extra requirements** — just deposit CAKE                                                                                                                            | Requirements included **CAKE staking** + **NFT Profile** |
| **No iCAKE / veCAKE** (deprecated with [Tokenomics 3.0](https://pancakeswap.finance/voting/proposal/0x79ef496c9737e48d9677a6e291ff2a549dee6729c9996398e453af8ecbf0ceb3)) | Used **iCAKE / veCAKE** concepts                         |
| **Tiered tax** (applies only if oversubscribed, decreases as oversubscription grows)                                                                                     | Flat participation fee (e.g., 1%)                        |

### What’s Unchanged?

* No individual cap — users can commit any amount of $CAKE to participate
* Users can still join **multiple CAKE.PAD events at the same time** (if more than one is live)
* **100% of CAKE.PAD event fees are burnt** — keeping CAKE’s burn mechanism strong

#### Fee Tiers

* Applies **only if the CAKE.PAD event is oversubscribed**
* Tax is only deducted from participants' excess committed funds, no fees are paid by the **CAKE.PAD** project partner
* The **CAKE.PAD** project partner receives 100% of its targeted raise amount
* PancakeSwap will burn 100% of **CAKE.PAD event** fees as CAKE

{% hint style="info" %}
For a numerical example, please refer to [How CAKE.PAD Taxes Work in Overflow Sales – With Example](/earn/cakepad/how-cake.pad-taxes-work-in-overflow-sales-with-example.md)
{% endhint %}

**Oversubscription rate <> Fee Tier**

| Oversubscription Rate | Fee Tier |
| --------------------- | -------- |
| ≥ 0x                  | 1.00%    |
| ≥ 50x                 | 0.80%    |
| ≥ 100x                | 0.60%    |
| ≥ 150x                | 0.50%    |
| ≥ 200x                | 0.40%    |
| ≥ 250x                | 0.30%    |
| ≥ 300x                | 0.25%    |
| ≥ 400x                | 0.20%    |
| ≥ 500x                | 0.15%    |
| ≥ 650x                | 0.12%    |
| ≥ 800x                | 0.10%    |
| ≥ 1500x               | 0.05%    |

### Contract Details

Each **CAKE.PAD event** has its **own smart contract**. You can find the contract link directly on the [projects' event page on PancakeSwap.](https://pancakeswap.finance/cakepad)

### Want to Launch Your Own CAKE.PAD event?

Bring your project directly to the **largest community on BNB Smart Chain**.

* Tap into PancakeSwap’s massive liquidity and user base
* Get exposure right from launch

View more information here: <https://pancakeswap.notion.site/cakepad>

👉 [Apply to launch now!](https://docs.google.com/forms/d/e/1FAIpQLScmZu87SG41J_eGfzlbyJ_olFohlGOXfOJer04Dr1yCEJy2NA/viewform)


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