The inspiration for CarrotCake comes from the most successful algorithmic stablecoin on the Binance Smart Chain: bDollar. CarrotCake is a multi-token protocol consisting of three tokens: cCAKE (an algorithmic token pegged to CAKE); CarrotCake Shares (sCAKE), which holders can claim inflation from when the network expands; and CarrotCake Bonds (bCAKE), which can be purchased when the network contracts and exchanged for cCAKE during deflationary periods when the price drops below CAKE.
The CarrotCake protocol is an experimental project and the first algorithmic token pegged to CAKE, capable of generating cCAKE tokens running on the Binance Smart Chain.