Gravity Vault Staking Is… Live!
But first, in the few months since Cake Monster launched, the revolutionary Gravity Vault has amassed over 30,000 CAKE! This would not have been possible without our amazing Monster community. We thank you all for your incredible support over the past few months and are proud to have you join us on this journey that has just begun! 💙
Yeah Baby, we did it! 🚀
The moment we’ve all been waiting for has finally arrived!
Each time the Kitchen is used to make CAKE, the collected staking rewards are re-staked in the Syrup Pool and all the CAKE bought via the Kitchen is added to the stake as well.
This currently results in a weekly Gravity Vault staking reward of approximately 300 CAKE and rising (~30,000 CAKE staked).
Double Compounding 🥞
Staking the Gravity Vault in the Syrup Pool gives us a sweet ‘double’ compounding effect.
Check this out
- When the CAKE in the Gravity Vault increases from taxed MONSTA transactions, CAKE is auto-added to the Syrup Pool each time a chef uses the Kitchen (see figure 1 for tx details).
- When the Syrup Pool rewards CAKE to the Gravity Vault, the remaining portion after the (yet to implement) distribution of NFT dividends (Stage 2) is automatically added back to the Vault.
- When these additional staking rewards are combined with the general Gravity Vault growth (via tax/auto-cashout), constant MONSTA supply deflation and MONSTA price appreciation, the result is a CAKE APY that far exceeds simply staking CAKE on your own!
Rewarding our Community 💰
The CAKE rewards from the Syrup Pool will be used to benefit the Cake Monster community in multiple ways. (Stage 2)
- 75% of the staking rewards will be distributed equally to all limited Diamond Claw Level 5 NFT holders who have their NFT ACTIVE (by holding a minimum of 0.1% of the current MONSTA supply). For example if there are 200 active Level 5 NFTs and the total dividend for NFT holders is 1000 CAKE per week, each NFT owner would initially receive 5 CAKE (~$120) per week. The dividends, of course, will increase exponentially as the Gravity Vault grows over time, and so will the staking rewards. Always remember: The higher the MONSTA price, the more CAKE the protocol buys and the more CAKE can be distributed!
- 25% of the staking rewards are going to support the Gravity Vault growth and will be re-deposited back into the Syrup Pool to benefit ALL MONSTA holders. This means that your “slice” along with the claimable crumbs grows faster and faster per 1% deflation, whether you have an NFT or not!
- All unclaimed NFT dividends are returned to the Gravity Vault to support further Gravity Vault growth and increase everyone's slice and crumbs.
How to earn these CAKE Dividends?
To earn these dividends simply hold an ACTIVE Level 5 NFT, sit back, and watch your earnings grow. You will be able to claim the CAKE dividends every 3 days via our dApp and you must claim within the following 3 days or your dividends will be sent back to the Gravity Vault.
Monsters who wish to obtain a Level 5 NFT to participate in dividend distribution (and other benefits) can purchase one HERE on TreasureLand.
Make sure you are only purchasing the VERIFIED NFTs (Look for the blue medal icon with “V” in the center).
If you do not hold a Level 5 NFT don’t fret — ALL users benefit as a portion of the staking rewards (25%) is deposited in the Gravity Vault and added back to the Syrup Pool for additional compounding, which increases your slice and your crumbs.
Rewards/Dividends will be released in two stages
Stage 1 (Deployed)
- 100% of Syrup Pool rewards are deposited in the CAKE Gravity Vault and are restaked with the added CAKE from the Kitchen.
Stage 2 (Friday, September 10)
- 75% of the Syrup Pool staking rewards are awarded to active Level 5 NFT holders.
- NFT dividends become available every three days and are claimable via the dApp. You have to claim your dividends before the next round starts.
- The remaining 25% of the Syrup Pool staking rewards and any unclaimed dividends after three days will be deposited in the Gravity Vault.
Effects on the Cake Monster Ecosystem 📈
Currently, a Level 5 Diamond Claw NFT requires a Monster to hold 0.1% of the total MONSTA supply to receive its benefits. If there are 200 of these NFTs active, this would mean that 20% of the MONSTA supply (200 x 0.1%) is locked up and technically out of circulation. This has a huge stabilizing effect on the MONSTA price as NFT holders have an incentive to hold on to their MONSTA if they want to earn a steadily growing passive CAKE income.
Additionally, valid whitelist entrants who claimed all 5 airdrops were eligible to mint a Level 5 NFT. Approximately 200 of those have been minted thus far, but these remain inactive until the owner purchases the required $MONSTA, or sells the Level 5 NFT to someone who has enough funds to activate it.
If all of the Level 5 NFTs are activated this would lock up over 40% of the supply in the wallets of “Diamond Hands” (not counted Level 1–4 NFTs)!
Anyone who wants to purchase enough MONSTA to activate their Level 5 NFT will have to do so from the PancakeSwap liquidity pool. Currently there is only enough MONSTA left for sale (~150M) to activate an additional 16 NFTs, which would cause a supply crisis and send the price parabolic.
The reason for this dynamic is the auto-cashout function, buying MONSTA of inactive wallets and burning the acquired MONSTA out of the LP.
This is causing a serious supply squeeze which translates to a higher token valuation. The Diamond Claw NFTs locking up substantial amounts of supply plus a supply shock in the liquidity pool is a highly explosive combination! 😮
- With Staking Stage 2 we will publish an adjustment of the daily cash out limit from 30 to 40 per day. The cash out timings will be adjusted to 10 cash outs every six hours (0,6,12,18 UTC). This will give much better chances to Monsters worldwide in any time zone.
- Technical webpage/dApp improvements
- Added a FAQ (Frequently Asked Questions) section in our documentation.
- We are developing a dedicated indexing service to fetch blockchain data more reliably. This will help our community to get up-to-date data from the stats/reports/charts sections on our dApp and frees us from the third party service we are currently using.
- Further UX/UI improvements
- New NFT project boosting volume and burning of MONSTA while incentivizing active engagement with the NFT. Start to follow the project on Twitter and be early!
Oh, we almost forgot! Prepare for a MONSTA lottery in the future! Details follow soon! 👀
Please have a read of our documentation!