Origin and Development of Cakepie

Cakepie was created in response to the urgent demand for a more robust and sustainable DeFi ecosystem in the crypto market. With the rise of decentralized platforms like PancakeSwap, its veCAKE design holds potential but faces challenges in further optimizing governance and enhancing user incentives. The Magpie Kitchen team keenly recognized these pain points and, leveraging their expertise in finance, technology, and blockchain, set out to create Cakepie as an advanced SubDAO. They aimed to unlock the value of veCAKE through innovative mechanisms, solve existing problems in PancakeSwap, and create a better DeFi experience for users.

Image source:https://docs.cakepiexyz.io/cakepie-overview

In the early stages of the project, the Cakepie team focused on technical research and underlying architecture. They delved into the veCAKE model and developed the innovative token form of mCAKE, enabling CAKE holders to convert and earn more rewards without a lock-up period. At the same time, they designed the economic model of CKP token, planning its core role as a governance and reward-sharing token, to establish a complete incentive system for the project.

During the testing phase, Cakepie invited some professional users and community members to try it out, collect feedback, and continuously optimize the product. During this period, the team fixed many technical vulnerabilities, improved the user interface, and enhanced the ease of operation. As the features gradually stabilized, Cakepie officially launched and quickly attracted the attention of a large number of PancakeSwap users. Many CAKE holders began to try to convert their tokens to mCAKE for higher returns; at the same time, the governance function of CKP tokens also attracted many users interested in project governance to participate.

With the growth of the user base, Cakepie continues to expand its ecosystem applications. The establishment of the Cakepie voting market allows vlCKP holders to monetize their voting rights, further enhancing the value of CKP. The team is also actively collaborating with other DeFi projects to explore cross-project synergies and expand Cakepie’s influence throughout the entire crypto ecosystem.

Image source:https://x.com/Cakepiexyz_io

Introduction to CKP Token

CKP, as the governance and reward-sharing token of Cakepie, plays a key role in the entire project. Users can lock CKP tokens at a 1:1 ratio to obtain Vote-Locked CKP (vlCKP).

CKP token has a total supply of 10 million, with its distribution covering multiple aspects. Among them, 29.9% is allocated to liquidity mining, 20% is reserved for strategic investors, Magpie treasury and Magpie launchpad account for 15% and 13% respectively, ecosystem accounts for 12%, protocol-owned liquidity accounts for 5%, airdrop accounts for 3%, PancakeSwap cIFO accounts for 2%, and PancakeSwap syrup pool accounts for 0.1%, in order to balance the needs of all parties and promote ecological development.

Image source:https://docs.cakepiexyz.io/tokens/ckp/ckp-distribution

The CKP token is deployed on the Bsc chain. According to Bscscan data, there are currently 8894 CKP token holding addresses, with the top 100 addresses holding 99.06% of the tokens, and the top address holding 57% of the tokens, indicating a relatively concentrated distribution of holding addresses at present.

Image source:https://bscscan.com/token/tokenholderchart/0x2b5d9adea07b590b638ffc165792b2c610eda649

The CKP token has a wide range of applications in the Cakepie ecosystem, playing a key role in project governance, economy, and user incentives.

(1) Governance Participation: One of the core applications of the CKP token is participation in the governance of PancakeSwap and Cakepie. Users who lock CKP as vlCKP will receive corresponding voting rights, enabling them to participate in important project decisions, such as influencing CAKE emission distribution and determining the project’s development direction.

(2) Reward Acquisition: Users holding CKP, especially vlCKP, are eligible to receive rewards from Cakepie. These rewards serve as incentives for users to participate in project governance and contribute to the ecosystem. As the project grows and profits increase, CKP holders can share in the benefits, further enhancing the value and attractiveness of CKP. It also encourages more users to actively participate in the project, creating a virtuous cycle.

(3) Voting Rights Monetization: In the Cakepie voting market, CKP tokens have monetized voting rights. vlCKP holders can trade their voting rights, providing a way for users who wish to have a greater impact in project governance, while also allowing voting rights holders to receive economic returns.

Image source:https://docs.cakepiexyz.io/the-cakepie-voting-market

(4) Enhance income potential: The CKP token is interrelated with other tokens (such as CAKE, mCAKE), indirectly enhancing users’ income potential. By participating in project governance, CKP holders can influence the project’s income distribution rules, giving themselves an advantage in obtaining rewards such as CAKE.

CKP trading address on Gate:https://www.gate.io/pilot/bnb-smart-chain/cakepie-ckp

Cakepie Tokenomics

CAKE, CKP, and mCAKE are three closely related tokens in the Cakepie ecosystem, each with different functions and collaborating with each other within the ecosystem.

CAKE is the native token of PancakeSwap and plays a crucial role in its ecosystem. As a governance token, it gives holders the right to participate in PancakeSwap community governance decisions, such as voting on major issues like project upgrades and rule changes. At the same time, CAKE is also an important utility token, essential for users to participate in liquidity mining, receive trading fee rewards, and more. It plays a central role in PancakeSwap’s trading and liquidity pool incentive scenarios.

CKP, as the governance and reward token of Cakepie, is mainly used in the Cakepie ecosystem. After users lock CKP as vlCKP, they can not only participate in the governance of Cakepie and PancakeSwap, influencing the direction of project development and resource allocation, but also receive corresponding rewards. In addition, CKP can also realize the monetization of voting rights in the Cakepie voting market, bringing economic benefits to holders.

mCAKE is a token launched by Cakepie to optimize user rewards. CAKE holders can convert CAKE to mCAKE at a 1:1 ratio without any lock-up period. mCAKE allows users to earn more CAKE rewards based on the veCAKE model in the Cakepie ecosystem, providing greater flexibility in earnings.

Image source:https://www.pancake.magpiexyz.io/stake

CAKE is the foundation, providing the foundation for the Cakepie ecosystem, around which Cakepie builds a richer economic model and application scenarios. CKP is indirectly related to CAKE within the Cakepie ecosystem, influencing the emission allocation and ecosystem development of CAKE through governance participation; at the same time, CKP also provides governance channels for users holding mCAKE, enhancing their rights in the ecosystem. mCAKE, as a variant of CAKE in the Cakepie ecosystem, is a tool for users to obtain more CAKE benefits. It works together with CKP to drive the operation of the Cakepie ecosystem, enhancing user participation and income levels in the entire ecosystem.

Cakepie product features

The Cakepie project is built on blockchain smart contracts, which can automatically execute preset rules and conditions. Cakepie is deeply integrated into the PancakeSwap ecosystem, leveraging PancakeSwap’s infrastructure and user base to accumulate and lock CAKE tokens as veCAKE, while also interconnecting with PancakeSwap on the governance level to jointly build a more complete ecosystem.

The core function of the product is to optimize the revenue mechanism. Users can deposit assets into Cakepie, and the system will automatically use them as liquidity providers to allow users to obtain optimized APR. At the same time, CAKE holders can convert CAKE into mCAKE, and without a lock-up period, they can obtain a higher share of CAKE rewards based on the veCAKE model, enhancing revenue potential.

Image Source:https://www.pancake.magpiexyz.io/stake

Future Outlook

Cakepie integrates deeply with PancakeSwap, leveraging PancakeSwap’s extensive influence in the multi-chain decentralized trading field, massive user base, and continuously expanding multi-chain ecosystem. In February 2025, the weekly trading volume reached as high as 212 billion U.S. dollars, with over 500,000 daily active addresses, attracting a large number of users and funds.

At the same time, Cakepie’s innovative product features such as income optimization, governance participation, and voting rights monetization meet the diverse needs of users, which is beneficial for building an active community ecosystem. As CKP, the governance and reward token of Cakepie, plays a core role in the ecosystem, with the development of Cakepie, the value of governance rights will become increasingly important, attracting more users to hold and participate. However, attention should also be paid to challenges such as cryptocurrency market fluctuations, regulatory policies, and competition.