CAKE holders, today we are thrilled to welcome back and bring you a new Syrup Pool from Multiplier, who has built Multi-Chain Lend (MCL), an algorithmic money market system designed to bring secure and unique lending and borrowing opportunities like flash loans onto the Binance Smart Chain.
The protocol designs are architected and forked based on Aave with revenue sharing components for liquidity providers and token holders that govern the protocol. bMXX, a BEP-20 token, is the governance token of MCL.
What is Boost?
Boost is basically an increase in farm multiplier over a set period of time, which is offered in exchange for additional tokens from the boosted project, which are then put into a new Syrup Pool!
The Syrup Pool:
Stake CAKE tokens, to earn bMXX tokens!
Total Tokens: 23,700 bMXX
Distribution duration: 60 days
Start block: 7367400 (approx. 9am UTC on May 13th)
Finish block: 9095400 (approx. 9am UTC on July 12th)
Token rewards per block: 0.01331 bMXX
In order to host the bMXX Syrup Pool, we will increase the existing bMXX-BNB farm to earn 1x CAKE rewards for 30 days, from approx. 9am UTC on May 13th UTC (Block 7367400) until approx. 9am UTC on June 12th (Block 8231400), before reverting back to 0.5x CAKE rewards after that.
As usual, it needs to be approved via a vote.
Why do we need a vote? Since it dilutes rewards, the chefs want BSC’s greatest community to make the decision themselves.
What is the bMXX Token?
bMXX is the governance token of Multi-Chain Lend (MCL).
The protocol designs are architected and forked based on Aave, with additional revenue sharing components. Depositors earn interest on MCL by providing liquidity to lending pools, while borrowers may obtain loans from these same pools.
Users who stake bMXX in the governance module will receive 20% of protocol revenue (loan origination and flash loan fees), as well as a share of 400 bMXX distributed daily. Users who deposit and provide liquidity will enjoy 70% of protocol revenue.
As it stands, MCL will be the first to support flash loans on BSC, which allows users to borrow instantly and easily; no collateral required.
Token Overview and Use Cases:
- Voting Rights: Govern Multi-Chain Lend (MCL) protocol and reserves.
- Revenue Share: Earn 20% of protocol revenue
- Staking Incentives: 400 bMXX daily to be shared by stakers
To learn more about Multiplier, the chefs advise you to visit their official communication channels:
Telegram (English): https://t.me/themultiplierio
How do you stake CAKE to earn bMXX rewards?
If you own CAKE tokens, congratulations! You’re the master of your … pancakes.
Time to step up your taste buds by learning how to stake CAKE with Syrup Pool.
- Visit this webpage: https://pancakeswap.finance/syrup
- Click “Approve CAKE” on the bMXX Syrup Pool
- Click on the stake button.
- Confirm the transaction.
BEP20 bMXX will also be circulating and transferable on BSC when we start the Syrup pool, so you will be able to harvest your bMXX tokens and trade on PancakeSwap at any time!
BEWARE OF FOOD POISONING! ⚠️⚠️⚠️💀
The official bMXX token contract address on Binance Smart Chain is:
Any other bMXX token will be a scam and will result in a financial loss for users. Do not buy tokens from any other token address. Always verify the token address before purchasing tokens. If you receive airdrops from another address for bMXX tokens, they will be rotten tokens (but not the cool kind!), and we advise you to ignore them.
Chef Hops 🐰