PancakeSwap governance proposal set to cap CAKE supply at 750M

PancakeSwap governance proposal set to cap CAKE supply at 750M

PancakeSwap, the decentralized finance (DeFi) application built on Binance Smart Chain, synonymous with its automated market maker (AMM) service and its quirky branding style, has released a governance proposal for the second iteration of its tokenomics roadmap.

The centerpiece of the lite paper’s new version suggested an imposed supply cap on the project’s native token, PancakeSwap (CAKE). Currently operating with a circulating supply of 293.4 million, according to quantitative data verified by CoinMarketCap, the paper advised a maximum figure of 750 million.

A governance voting window was opened to the community for a 24-hour period and attracted 11,008,360.64 CAKE votes, with an overwhelming majority of 98.80% of voters advocating for the admission of the proposal.

Trending: Have You Heard Of A “Warrant Canary”? TruthSocial Has One, Twitter and Facebook Do Not…

Speaking to Cointelegraph, the team revealed that there was “no cap on individual

Continue reading

You Might Like


Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend