How to participate?
How to take part in the weekly protocol revenue sharing
Last updated
How to take part in the weekly protocol revenue sharing
Last updated
To become eligible, you must have an active fixed-term CAKE staking position. To learn more about how to set up a fixed-term CAKE staking position, read here.
Additionally, to receive shares in the next distribution, your fixed-term CAKE staking position MUST unlock no earlier than the next weekly distribution (every week at 23:59 UTC on Wednesday).
For example, to join the week 1 distribution. You must:
Join before 23:59 UTC, 2 August.
Have an active fixed-term CAKE staking position which unlocks later than 23:59 UTC, 9 August.
There is a one-time setup process for all the fixed-term CAKE stakers to enrol in the revenue sharing pool - rCAKE program. This only has to be performed once.
Visit the Syrup Pool page, and you should be presented with a pop-up to update your staking position.
Simply click the update button and confirm in your wallet.
Once your staking position is updated. A new “View Benefits” button will appear in the CAKE staking pool.
Click the button to open up a brand new locked CAKE benefit panel to view all the juicy benefits you receive by fixed-term CAKE staking.
In the top section, you may view the familiar i/b/vCAKE introduced in 2022.
At the bottom, there is a new section dedicated to revenue sharing. You can view:
Your shares - a virtual shares number in the revenue sharing pool. This number (also known as rCAKE) is calculated based on your locked amount and the remaining lock duration rounded down to weeks at every weekly distribution - 23:59 UTC every Wednesday.
Next distribution - the time till the next distribution
Last distribution - the time of the last revenue distribution and share number update
Available for claiming - the amount of CAKE available for claiming
Please note that your shares (rCAKE) will only update upon a weekly distribution. Therefore your shares may appear to be 0 right after you update your staking position. Check back again after the next distribution to view your shares.
Your shares will be updated upon the next weekly distribution after you update your staking position. You will start accumulating rewards based on the number of shares (rCAKE) you have received against the whole pool.
After a whole calendar week passes and the pool hits the next weekly distribution. You may now claim the rewards from the last period by going back to the benefits panel and clicking the “Claim” button.
Upon each weekly distribution, your shares (also known as rCAKE) are re-calculated based on:
The amount of the locked CAKE
The remaining lock duration of their locked CAKE rounded down to weeks, and the maximum allowed lock time (52 weeks).
For example: If a user has 50 CAKE locked and the remaining lock time is 10.3 weeks, then the user has 50 * (10 / 52 ) ~= 9.61 shares.
To receive more shares, lock more CAKE or extend your lock durations.
Additionally, since the remaining lock duration will be rounded down to weeks, to keep receiving shares, you must ensure your staking position will unlock no earlier than the next distribution.
For example, to join the week 1 distribution. You must:
Join before 23:59 UTC, 2 August.
Have an active fixed-term CAKE staking position which unlocks later than 23:59 UTC, 9 August.
To learn more about how the shares are calculated, check here.
