Today we are excited to announce the upcoming launch and release of Cake Monster — the world’s first $CAKE-backed DeFi protocol, which will be available on PancakeSwap, the #1 AMM on Binance Smart Chain (BSC). In the coming days, we will share a sweet tokenomic recipe that implements a fully automated and elastic monetary policy that is both deflationary and inflationary.
The Cake Monster protocol will be able to reward early as well as late entrants without the need to reduce such things as block emission rates, heavily dilute supply or risk an imploding ecosystem due to exclusively and unbalanced inflationary or deflationary conditions (which can lead to extreme scarcity or abundance of assets). All while maintaining a dynamic reward system and an ever-growing reserve of $CAKE, which supports the intrinsic value of the native Cake Monster token, continually and gradually increasing the price floor of the same and therefore adding stability.
Applying a truly sustainable, flexible, and fair economic model is a key driver for us and the transparency, trust, and confidence we want to instill in it and our future community. To guarantee the success and longevity of the project, we are planning to keep the smart contract upgradable via a proxy contract managed by a multi-signature wallet, ensuring flexibility and scalability for upcoming feature developments or potential security and bug fixes, without all the associated migration issues.
$CAKE (current market capitalization ~$5B) is PancakeSwap’s popular native token on the Binance Smart Chain, offering auto-compounding for stakers and farmers, a lottery system, NFT mining, and a decentralized prediction market. This made it easy for us to choose $CAKE as our reserve asset for the underlying protocol to accrue a higher initial and especially future value of the Cake Monster ecosystem.
We are currently preparing everything we need to get ready for our pre-sale phase and a successful launch of Cake Monster. This involves for example the management of potential partnerships and integrations, code testing, gathering resources for pre- and post-launch marketing as well as potential advisory from experienced blockchain figures.
We can’t wait to share more information with you and would love for you to start following us on this journey!
Stay hungry!
About Cake Monster
Dive into the furry world of a super deflationary multi-feature and dividend yield token on BSC with cute memes, hairy NFTs, delicious community rewards and much much more sweet ingredients, RAWR!
Cake Monster ($MONSTA) offers a multitude of great features aimed at building a flexible and multifaceted dividend yield and reward system for participants without compromising the sustainability or security of the ecosystem and combines this with smart design, creativity, and organic growth.
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