PancakeSwap is about to launch the veCAKE model governance and yield enhancement platform Butter Finance

ChainCatcher news, PancakeSwap is about to launch the veCAKE model's main decentralized meta-governance and yield enhancement platform Butter Finance, which will introduce the veCAKE token, allowing governors to gain proposal voting rights, fee claims, CAKE release control, and up to 3 times the reward boost when providing liquidity on PancakeSwap.

However, due to the need for substantial funds, most holders find it difficult to utilize all the rewards. By aggregating veCAKE, Butter socializes the reward boosts for its liquidity providers. By releasing value, more CAKE will be permanently locked through Butter Finance, and the releases will also be effectively distributed.

Butter states that its goal is to lock a large supply of veCAKE, leveraging its connections, incentive mechanisms, and yield enhancement measures to encourage more DAOs to join Pancake.

Currently, Butter has received support from JonesDAO, Gearbox Protocol, Curvance, Alchemix, Notional, Beefy, Mimo Labs, GnosisDAO, Aura DAO, and others. Butter Finance will initially support Ethereum, Arbitrum, and BNB Chain.