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Stakers stake their $MAKI tokens in return for more $MAKI tokens, while Chefs provide ETH, USDC, GMX or USDC-MAKI LP tokens in exchange for discounted $MAKI tokens after a fixed vesting period.
The main benefit for stakers comes from supply growth. The protocol cooks new $MAKI tokens from the kitchen, the majority of which are distributed to the stakers. Thus, the gain for stakers will come from their auto-compounding balances, though price exposure remains an important consideration. That is, if the increase in token balance outpaces the potential drop in price (due to inflation), stakers would make a profit.
The main benefit for Chefs comes from price consistency. Chefs commit a capital upfront and are promised a fixed return at a set point in time; that return is in $MAKI and thus the Chef's profit would depend on $MAKI price when the dish (recipe) is ready. Chefs benefit from a rising or static $MAKI price.