CryptoBlades x Cake Monster Live AMA Recap
On March 11, 2022, CryptoBlades’ CEO, Philip Devine, hosted a Livestream with Cake Monster’s Project Lead and CMO (Chief Maffs Officer) Byron and Budddog. For those who missed it or want to overview the information again, here is a recap of their illuminating conversation!
About Cake Monster
The Beast of BNB Chain, Cake Monster, is an ultra-deflationary, automated dividend yield meme token on Binance Smart Chain. It offers many unique DeFi features aimed at building a flexible and multifaceted reward system for all participants without compromising the sustainability or security of the protocol ecosystem. Cake Monster is a sophisticated DeFi protocol with actual utility and value. Backed by a community-owned, non-correlated asset vault and constant supply pressure, each deflationary cycle builds up the intrinsic value for $MONSTA and the paid-out rewards for holders. The tokenomics of $MONSTA include a total tax of 5% on every transaction and cause it to be highly deflationary, as 2.5% get burned, and 2.5% is used to buy $CAKE for the Gravity Vault from PancakeSwap, to fill up the reward asset vault, and to add locked liquidity to the LP. Cake Monster thrives on farming volume and impatience, whereby the goal for every holder is to own as much $MONSTA supply as possible to get the most $CAKE rewards at the end of each cycle.
Monsta staking in and of itself is a deflationary module inside the already hyper-deflationary currency. The module pays people for holding, and if someone breaks that commitment to the protocol, there is a tax that helps increase the deflation of the cycle. There are two types of staking options: The Baking Pool and Staking Pool that each come with their own wrapped versions of the original MONSTA token pegged 1:1 (linked USD value) to MONSTA. They serve, among other things, as proof of your MONSTA stake (IOU) and are used to earn MONSTA rewards in the staking pools. These new tokens also open up CEX listing opportunities for them because there is no taxation on the transactions involved:
Baked $MONSTA Pool:
Long-term holders, and those that want to earn the highest yield on their staked assets, will want to stake in the Baking Pool! In the bMONSTA pool, you earn a time-based APY boost over the standard APY. The boost slowly declines until the cycle ends.
- Baked till Cycle End.
- Significant Time-Based APY Boost.
- Unbake Tax (Total 40%).
Staked $MONSTA Pool:
For looking to have a smaller return while staying flexible with their investment, the sMONSTA pool is the place for them. You earn standard APY on your staked tokens with a normal unstake tax.
- Standard APY. No Commitment Boost.
- Unstake Tax (Total 15%).
Since we have partnered with Cake Monster earlier this year, they have released numerous game-changing, desirable features. Staking is just one of them, and we encourage you to check them out further either through their website or whitepaper!
To purchase $MONSTA and start earning those sweet staking rewards, you can visit their website and click on “How To Buy” at the top of the page: https://cake.monster/.
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