PancakeSwap will limit CAKE supply to 750 million coins
- May 12, 2022
- 0
The PancakeSwap DeFi community, powered by BNB Chain, supported the tokenomic changes, the key of which will be to limit the supply of the CAKE governance token to
The PancakeSwap DeFi community, powered by BNB Chain, supported the tokenomic changes, the key of which will be to limit the supply of the CAKE governance token to 750 million coins.
🗳️🎉 Wow!
You community overwhelmingly supported our latest proposal and we will work hard to build and deliver the future of PancakeSwap.
We’ll be hosting an AMA later today at 13:00 UTC – not just on tokenomics – so join us if you can. pic.twitter.com/cM6RyF2Y1P
— PancakeSwap 🥞 #BSC (@PancakeSwap) 12 May 2022
98.8 percent of the votes were in favor of the proposal.
The PancakeSwap team said the proposed upgrade would “increase profitability.” IFO and income farming” blocked by CAKE. The developers plan to implement the changes in the “near future”.
At the time of writing, there are more than 296 million KEKs in circulation (CoinGecko). The full volume issue is scheduled to expire in three years.
The business developer of the project, under the pseudonym Chef Icy, stated in a comment to Cointelegraph that this period is a conservative estimate based on the issuance of 14.25 coins per block. In fact, due to regular combustion, the effective emission per block is about 10.5 KEK. Based on this, Chef Icy estimates that the full release will take about 4.5 years.
Recall that the Uniswap platform, heavily copied by PancakeSwap, immediately released the UNI token in 2020 with a limited edition of 1 million coins.
Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
