We are always trying to adapt our recipes to suit different tastes, and we’re also constantly trying to find new flavours that will excite our bakers. That’s why the team have been on the trail to discover new ingredients that will tantalize your taste buds, and they found something — USDC Liquidity Mining.
From Thursday, 5 August 2021 at 1800 SGT (10:00 UTC), we will begin accepting USDC deposits for this latest liquidity pool. As always with such amendments to the recipe, we strive to ensure a smooth integration for our bakers, and therefore, have provided sufficient baking resources and fermentation time to anticipate that.
Similar to the previous six liquidity pool launches, we will be implementing an initially reduced incentive for the USDC liquidity pool. Thus, the Liquidity Mining rewards will start with a reduced reward amount / block during the first week — which reflects a temporary reduction to 1% of the later value.
The reason for this is simple: We want to give all our bakers equal opportunities to participate in Liquidity Mining. Furthermore, bakers who have never used our product before should be given enough time to familiarize themselves with it.
Starting Thursday, 12 August 2021, we will then increase the Liquidity Mining rewards to its full amount / block — following through with the DFIP#2107-A proposal. This equates to an increase in Liquidity Mining rewards by a factor of 100, and will again lead to sweeter-than-sugar returns exceeding 200% APY.
So take out your chef's apron and baker's hat and get ready to deposit your USDC coins on Cake DeFi to enjoy our tasty returns.
Also, please note that the initial pool liquidity will be quite small, hence we would recommend wearing oven mitts and use smaller amounts first.
Your Cake Team