The decentralized trading platform PancakeSwap‘s proposal to give Cake tokens new functionality through a VIP pool won 99.6% support, according to the Snapshot voting platform.
More Features Will be Added to PancakeSwap’s VIP Pools
By creating unique things, the main strategy aims to give the Cake token a new use and increase its popularity. Moreover, the goal is to produce the same kind of product using exclusive Syrup pools. Cakes blocked in the pool are required to participate in an IFO, and with this requirement and the blocking duration, the iCakes are identified.
sCake is not a new token, contrary to popular belief. It has a similar purpose to iCake and vCake, but its power is for staking.
To give users more staking options, the plan calls for the development of sCake tokens. However, it can be compared with the IFO function. Users must pledge Cake in the pool in order to take part in IFO, and the pool will determine how much Cake will be given to the VIP pool based on the time and pledge amount.
What will the New Feature Provide?
This new feature is intended to increase demand for Cake. Thus, it will increase Cake’s shares and make projects more exclusive.