Launch of BSCDEFI on BSC via PancakeSwap will require the DAO to set aside (earmark) $400k CVP equivalent from the PowerPool multi-sig for PancakeSwap Syrup pool rewards to add CAKE rewards for LPs of the launch BSCDEFI/BNB pair. The earmarked CVP tokens will actually be delivered to PancakeSwap only if our proposal for BSCDEFI/BNB launch pool CAKE rewards is approved by PancakeSwap DAO.
Launching BSCDEFI on BSC will begin with an incentivised launch pool offering CAKE rewards on PancakeSwap, the dominant DEX on BSC. PowerPool DAO must fund the launch pool proposal to PancakeSwap DAO in CVP, in order to provide the CAKE portion of the rewards allocation for the BSCDEFI/BNB pool. This proposal is to first earmark (set aside) and later, upon approval of our launch pool proposal, transfer $US 400k CVP equivalent from PowerPool multisig to PancakeSwap Syrup Pool.
PowerPool is now ready to launch the new BSCDEFI pool and has completed development of the related infrastructure on Binance Smart Chain (such as CVP listing on the BSC official bridge and Power Agent infrastructure).
Offering CAKE rewards is practically required in the BSC investor community to attract individual LPs into the launch pool. The CVP token rewards alone would not have sufficient recognition to attract BSC LPs in sufficient volume. As PowerPool and the Power Universe go multi-chain, it will become common to follow this model to collaborate with leading initial launch DEXes on each chain.
Once the proposed PowerPool launch pool is approved by Pancakeswap DAO, LPs on BSC depositing to the BSCDEFI/BNB launch pool pair will earn rewards of ~750 CAKE per day for 60 days = ~45,000 CAKE total (approximately). Therefore, the PowerPool DAO needs to earmark (set aside) these CVP tokens.
After discussion with PancakeSwap community members, we decided to offer $US 400k equivalent of CVP tokens to Syrup Pool and in return for a 0.5x multiplier on the BSCDEFI/BNB pair. This means that the CAKE allocation for the launch pool pair will be ~750 CAKE per day for 60 days. Both CAKE and CVP liquidity mining will last 60 days, and therefore the total amount of CAKE rewards allocated to the BSCDEFI/BNB pair will be ~45,000 CAKE.
Note, that CAKE and CVP numbers are given approximate and can change due to the volatility.
CVP amount for the transfer will be calculated based on average price during the last 7 days prior to the moment of transaction. Currently, this number is ~285,000 CVP.
The US$ 400k in CVP will be transferred only if and when the proposal for BSCDEFI/BNB pair CAKE rewards is approved by the PancakeSwap DAO community.
The Executive Group (Core Team+Management Board) are unanimous in recommending that the DAO earmark the proposed CVP to enable a proposal to PancakeSwap DAO.