Dear community members:
Due to well-known reasons (voting), the QIAN community will start to provide liquidity incentives on Pancake. Pancake is currently the largest AMM DEX on the BSC network. It has huge traffic and attention. Therefore, if we can get official Pancake market cooperation, it will be of great benefit to the development of QUSD and KUN in the BSC ecosystem.
Today, I discussed with the people of the Pancake team on the Telegram, and they proposed a cooperation plan to use CAKE to farm QUSD and KUN according to the standard cooperation process.
After discussions in the Discord and WeChat community enthusiasts, it is generally believed that the cooperation plan is not effective enough, and the empowerment of CAKE, QUSD and KUN is insufficient.
A better plan can be to include CAKE as the backed asset of QUSD and let CAKE holders have another direct cash realize channel in addition to staking farming, CAKE holders can also have additional mining income on QUSD minting.
For QUSD, it will have more sources of minting assets, which can incentivize the issuance of QUSD, and CAKE is currently listing on Binance exchange, it has also received attention from users around the world. CAKE now is a relatively high-quality token in terms of asset value, and the systemic risk to the QIAN system is relatively small if CAKE is engaged.
According to CMC's CAKE introduction page, the current circulating supply of CAKE is 57,630,439 CAKE, the total amount is 73,538,999 CAKE, and the market value is $18,966,727 USD. This means that even if all CAKE enters QIAN for lock-up, there will be no more than 20 million QUSD minting. Therefore, in the following plans, the maximum minting amount (total system debt of CAKE) after CAKE is listed will uniformly adopt the upper limit of 15 million QUSD. If the market value of CAKE increases steadily in the future, the upper limit of the asset and debt will be adjusted through community governance.
According to the results of the community discussion today, as to whether CAKE will be added to minting assets, and if KUN will be rewarded for minting after CAKE's listing, there are the following plans for everyone to evaluate:
Plan One
Don't add CAKE to mint assets, just use Pancake as a regular liquidity pool, and don't cooperate with Pancake official team in the market.
Plan Two
Add CAKE to the minting asset, but not as the minting incentive of KUN. Although this scheme is more attractive to the Pancake team than plan one, the possibility of promoting market cooperation between Pancake and QIAN is still low.
Plan Three
Add CAKE to mint assets and provide incentives according to the BNB minting and mining standards of the BSC network.
Plan Four
Add CAKE to minting assets and provide incentives in accordance with the BUSD and FOR minting standards of the BSC network.
Plan Five
Add CAKE to mint assets, and provide incentives in accordance with the BSC network USDT, LINK, DOT minting and mining standards.
Plan Six
Add CAKE to mint assets and provide incentives according to the BSC network BTCB and FIL minting mining standards.
In the above Plan Three to Six, the minting reward standard of various tokens of the BSC network can be inquired from BSC's QUSD minting mining page.
These plans are now submitted to the community for discussion. If you have any other amendments, please leave a message below.