PancakeSwap Welcomes Multiplier to Syrup Pool!
CAKE holders, today we are super happy to be able to offer you a new Syrup Pool from Multiplier, the builders behind 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.
The Syrup Pool:
Stake CAKE tokens, to earn bMXX tokens!
Total Tokens: 4300 bMXX
Distribution duration: 60 days
Start block: 5323140 (March 2nd 3PM SGT)
Finish block: 7051140 (May 1st 3PM SGT)
Token rewards per block: 0.00248 bMXX
The Farm:
In order to host the bMXX Syrup Pool, we will need to provide a bMXX-BNB farm that will have 2x CAKE rewards for the first 48 hours and then 1x CAKE rewards after that.
The Vote:
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:
Website: https://multiplier.finance/
Twitter: https://twitter.com/MultiplierMXX
Telegram (English): https://t.me/themultiplierio
Discord: https://discord.gg/2fatBM7
Medium: https://multiplierfinance.medium.com/
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:
https://bscscan.com/token/0x4131b87f74415190425ccd873048c708f8005823
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 🐰
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