WEEKLY BULLETIN — 11 June 2021
TL;DR
1. Announcing 4 new CAKE Maximizer Pools!
2. The best place for BUNNY — earn BNB!
3. Cranking up APYs through innovation — In Chain Multiplexer coming soon!
4. Expect buybacks to gear up soon!
5. BUNNY attribution — look at Block 7556390!
Greetings Bunny Fam!
In the interest of connecting with the community on a regular basis and providing context to maintain a maximum of transparency in real time, Team Bunny will be sharing updates and thoughts on a mostly weekly basis. The PancakeBunny Community is what makes the project truly great, and the entire Team appreciates your patience and trust as we continue to develop innovative ways to support the recovery and the growth of PancakeBunny. Thanks, as always, and remember — Keep Calm and HOP ON!
1. New Pools Added
As previously mentioned on our twitter and other socials, we are pleased to announce the launch of 4 new CAKE Maximizer pools! The new USDC-BUSD, DADI-BUSD, BTCB-BUSD, and DOT-BNB Maximizer pools utilize our existing Maximizer strategy by auto compounding the yields from the underlying pairs into the CAKE pool. This maximizes the potential yields while ensuring the safety and stability of your underlying assets. Investing in our stable LP Cake Maximizers are the go-to vaults for cautious investors looking to park their stable assets, while still receiving handsome yields.
Team Bunny will continue to look into new potential pools for our platform, so please feel free to tweet your ideas or share them through the strategy or proposal sections on Discord.
2. EARN WBNB! Stake BUNNY in the Original Bunny Pool!
Bunny Fam — here are some pro-tips on how to get the most out of your BUNNY!
Bunny Pool. Get the most out of your BUNNY by staking BUNNY in the BUNNY for BNB pool, where you earn a portion of the community’s share of claimed profits, i.e. the 30% that constitutes the Bunny Distribution.
BUNNY-BNB Pool. As PancakeBunny continues to recover, we will maintain the Boost for the BUNNY-BNB pool. As it is integral to maintaining the liquidity of BUNNY, BUNNY-BNB LP stakers will continue to receive both CAKE and BUNNY for their support. Last week, we did, however, allow the Bunny Boost pool to expire in order to decrease BUNNY emissions.
Bunny Pots. Stake your BUNNY in the Bunny and Bunny Premium Pots for a chance to win massive rewards (upwards of $200k) in our no-loss pots!
3. The In-Chain Multiplexer — Announcing BSC Leveraged Farming on PancakeBunny!
Thanks to your support, our Cross Chain Multiplexer restricted beta is proceeding smoothly and we hope to announce some early results soon!
At the same time, we are preparing to use our Multiplexer to bring double farming in-chain to the BSC PancakeBunny Community as well! Raising APY following the attack has been constrained by concerns over the Bunny Supply and the L1 exploit of Venus. Under such circumstances, this has meant that increasing APY is only possible through product innovation as opposed to increasing BUNNY rewards.
Fortunately, Team Bunny is a team of BUIDLERS and we fully expect the extension of the Multiplexer to in-chain leveraged farming to increase APY’s by as much as 50%. Stay tuned for further Multiplexer news, both Cross Chain and In-Chain!
4. Buyback Update
Bunny Pots. As we have previously announced, 10% of each Bunny Pot is being applied to buy back BUNNY. We are off to a solid start with our first 3 pots — Cake, Bunny, and Bunny Premium — generating over 2000 BUNNY in our first week. Please stay tuned as we continue to expand our offerings and the number of assets eligible to farm.
Cross Chain Multiplexer Fees. As participation in Bunny Pots increases, we expect the Pot mechanism to drive significant buy back. However, we expect the fees from our Cross Chain Multiplexer to drive even more significant buy back volume. Based on early data from our first week of Restricted Beta service, we anticipate that a TVL of approximately $500M will drive a monthly buy back of around $3M every month.
Community Treasury. Currently, all BUNNY that is bought as part of the buy back initiative is being sent to the community treasury address: 0x85c9162A51E03078bdCd08D4232Bab13ed414cC3. Once a material amount of BUNNY has been accumulated, we will hold community votes to decide how to utilize the locked up BUNNY — e.g. what portion to burn outright, what portion stake to the Bunny Pots to increase the size of the jackpots, what portion to use as deposit for listing, what portion to use for strategic partnerships, etc.
The disposition of the BUNNY for the above purposes is up to the PancakeBunny Community, and there is no risk of the BUNNY being sold on the open market to the detriment of BUNNY prices or the increase of the Bunny Supply.
Thank you for your patience as Team Bunny continues to devise additional solutions to accelerate the speed of buy backs, including innovations such as tokenomics adjustments, double farming on BSC, inverse & leverage tokens, and much, much more.
5. A Primer on BUNNY Attribution
Now that Team Bunny has managed to get through the biggest and most urgent pieces of our post-attack triage, we would like to provide a primer for users interested in understanding the method we used (and that any user can use) to confirm whether they possessed any BUNNY at the time of the attack. Specifically, we will share how we checked to see if a specific wallet address had BUNNY in the block immediately preceding the attack (i.e. the attack-block-minus-1). As has been previously published, the block immediately preceding the attack was block number 7556390.
In order to assign and attribute the pBUNNY associated with each wallet address correctly for the Compensation Pool, Team Bunny counted and assigned ALL of the BUNNY that existed during Block 7556390. This included 1) BUNNY staked in the Bunny Pool, Bunny Boost Pool, and BUNNY-BNB Pool, and 2) BUNNY that existed in user wallets. (Note: The resolution for BUNNY that was tied up in 3rd party protocols followed a somewhat more involved process that required the collaboration of the other projects. As each project was somewhat different, we will stick to the general case here. If you have questions about 3rd party projects, please connect with live support at linktr.ee/pancakebunny.)
In order to streamline the attribution, counting, and confirmation process, Team Bunny wrote a script to check the balance of BUNNY and BUNNY-BNB at the time of the attack (see example below).
The Team also used BSCScan to track the movement of assets. Here is an example of a typical transaction record: https://bscscan.com/tx/0x01700be55c8891a568ece0ef93b792d3daa5b184ac93a40d9bc81237327c90c1
In this example, the address had zero BUNNY and zero BUNNY-BNB in Block 7556390, i.e. the Block immediately before the attack. In fact, according to BSCScan, the address did not have any BUNNY until 2170 blocks later, in Block 7558560, which is when the user purchased 2 BUNNY, timestamped May-20–2021 12:23:02 AM +UTC.
Please rest assured that Team Bunny has spared and will spare no effort to ensure that all of the BUNNY before the attack is correctly attributed and assigned. Because the ledger is completely public, all transactions and holdings are fully transparent for every block. If you would like to request that Team Bunny reexamine your address, please be prepared to provide proof of BUNNY and BUNNY-BNB in your wallet during Block 7556390 and provide a transaction record from BSCScan to demonstrate the provenance of the BUNNY held by your wallet at that time. And of course,please feel free to connect with our live support staff if you require any assistance to do so!
Welcome to the Bunny Community. Join us on our Defi journey!
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