PancakeSwap community passes proposal to reduce token supply by 300M
Dec. 29, 2023
By Assad Jafri
In a landmark decision, decentralized exchange (DEX) PancakeSwap has successfully passed a proposal to reduce the total supply of its native token, CAKE, to a maximum cap of 450 million from 750 million.
The proposal, which closed on Dec. 29, garnered an overwhelming 97.88% approval rate from the voting community, reflecting a significant shift in the platform’s tokenomics strategy.
The reduction comes after PancakeSwap’s intensive efforts over the past year to overhaul its tokenomics, emissions, and growth strategy.
“Ultrasound CAKE”
The platform, which launched in 2021, initially faced challenges due to significant token inflation as it sought to establish a robust ecosystem.
However, with almost three years of development and refinement, including the introduction of CAKE Tokenomics v2.5 and the veCAKE Gauges System, PancakeSwap has now positioned itself for accelerated growth.
The proposal was driven by several key factors. First, it aimed to provide certainty to the community regarding the future supply of CAKE tokens.
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