PancakeSwap’s new offering aims to limit the supply of CAKE to 750 million.
DeFi application PancakeSwap has published a governance proposal detailing the new goals of its native token CAKE. A positive result of 98.8% emerged in the voting, in which more than 11 million participants took part.
PancakeSwap’s new tokenomic roadmap limits CAKE’s maximum supply to 750 million.
“We recommend a maximum supply cap of 750 million for CAKE and will introduce increased IFO benefits to our users for locked CAKE”
Currently the CAKE supply is just over 294 million. If there is no change in the emission rate, it will take about three years for the circulating supply to reach the cap.
In addition to reducing the supply of the token, the offer also brings additional benefits and incentives for CAKE locks. With the new plan, farming rewards will increase, while IFO benefits will be available to users
The main idea of PancakeSwap’s proposal is to effectively reduce the circulating supply of CAKE.
CAKE is trading at $4.22 at the time of writing, according to Binance data.
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