CafeSwap Dex Upgradation
Hey Brewers!
Remember the CafeSwap.finance objective? Of course, you do. We are fueled up with transparency and carrying our community along, leading us to this moment: providing updates on the state of the ecosystem and what the CafeSwap team have been working on behind the scene.
DEX Launching
You asked for it and now it’s here: the CafeSwap.finance DEX launch is happening. It has been a long time coming. And now, it’s about to happen.
No rush! We will take it one sip at a time — it’s brewing hot, so that’s expected. Hence, we have compiled an up-gradation plan for the transfer of assets to the DEX site.
Now, what becomes of the previously created farming pools? Want to guess? C’mon, guess! Well, they will be moved to the DEX as well. Of course, the liquidity provided in these pools has to be moved as well.
So you see why had to get this out quickly.
Hey, no need to fret. It’s a hot brew, not a poisoned one. CafeSwap.finance is just moving towards its new home — we can’t remain guests forever, right?.
Since we care about the CafeSwap.finance community, we don’t intend to create panic or any undesired security risks for anyone. It might a jungle out there, but we don’t expose our community to harm.
This explains the need to avoid deploying the migrator code — a situation that makes this DEX Launch appear seamless but with enormous risk.
Staking Pools Remain Unfazed
Still, have tokens in the staking pool? Then sip your brew slowly as you have nothing to worry about. The staking pool will not be changed. Your stakes will continue to pile up rewards as always, so don’t bother un-staking your assets.
Community Input Required(Cake LP => Cafe LP)
What would we do without you guys? Nothing! This project is fueled by you, so everything depends on all of you. Success or failure is borne by every one of us, so your input will always count on the scheme of things.
We have come hat in hand to seek your help. We will need our community to help migrate their liquidity from Pancakeswap to the CafeSwap.finance DEX platform. Yes, it’s uncomfortable, but it’s for the greater good. When the Café is up and running as it will soon enough, we will look back at this moment and smile.
And for your understanding, we have something for you drum rolls Are you ready for this? It’s smooth, it’s yummy, and brewed to the T. It’s Mocha!
To reward the migration effort of our community, Mochas will be airdropped to addresses that execute liquidity transfers to the new platform within 72 hours of the DEX launch.
Considering the rarity of the Mocha token and its deflationary architecture, every true patron of the Café should have the token.
Luckily, 1000 Mocha tokens will be distributed to the random 1000 addresses that transfer liquidity to the DEX platform. Remember, it’s 1 Mocha/ address, so act fast to earn this ultra-rare token.
Launch Date
While we expect the CafeSwap.finance DEX to be launched on the 21st of March, 2021, unforeseen circumstances can always disrupt plans that have been set in motion. Regardless, if the DEX becomes operational on the 21st-22nd as planned, farming pools will take off the following day…
Farming pools that the CafeSwap.finance community can expect include the following LP pairs and their multipliers, These pairs will be rolled out in the next 7–10 days in a linear fashion.
BREW-BNB(40X) (Initial Launch)
BREW-BUSD(25X) (Initial Launch)
BREW-DAI(25X)
BREW-ETH(20X) (Initial Launch)
BREW-DOT(20X) (Initial Launch)
BREW-BTCB(20X)
BREW-CAKE(20X) (Initial Launch)
ETH-BNB(1X)
BTCB-BNB(1X) (Initial Launch)
DOT-BNB(1X)
DITTO-BNB(1X)
BIFI-BNB(1X)(Initial Launch)
USDT-BUSD (3% Deposit Fees)
DAI-BUSD (3% Deposit Fees)
Two Farming Pools Will remain as it is:
BREW-FLP (5x) (PancakeSwap LP)
BREW-Banana(5X) (ApeSwap LP)
Hey, we are not abandoning the old Pancakeswap pools just yet. They might be obsolete, but we won’t output members at risk. Those pools will stay active for 15 more days, but don’t expect the juicy APYs that have become a familiar sight on our pools. These will be extremely low, dissuading users from using them.
While the Pankcakeswap LP Pairs are still in operation, their multipliers will be pegged at 1X as soon as the same pool opens on CafeSwap lp with juicy APR, pending the conclusion of the 15-day countdown.
When the 15 days provided elapse, these LP pools will be disabled with zero rewards generated henceforth.
It’s worth noting that all partner pairs involving the Binance token (BNB) will have the 1X multiplier. For LP pairs involving the BREW token, the 5X multiplier is definite. This ensures the native token of the CafeSwap.finance ecosystem continues to flourish as desired.
Perplexed on the 4% deposit fees for certain LP pairs? Don’t be, it helps in sustaining the smooth running of the CafeSwap.finance platform and will be used for buyback and burn.
In the end, it’s not going to be easy. Hey! The Café is clouded with the smoke of your inconvenience, especially on the migration and the removal of liquidity from the Pancakeswap DEX to the CafeSwap.finance DEX.
But it’s for the greater good. If the Café is to continue brewing, then we need this. Consider this as minor, uncomfortable bumps on our journey to the Moon. When this is all over, we will toast using your favorite brew.
Right now, keep brewing
Social Handles:
Telegram Ann: https://t.me/cafeswap
Telegram Group: https://t.me/cafeswapAnn
Twitter: https://twitter.com/cafeswapfinance
Docs: https://docs.cafeswap.finance/
Medium: https://cafeswap.medium.com/
