Share this article
PancakeSwap Proposes to Reduce CAKE Token Supply by 300 Million
More than 99.95% of the community, representing 70,000 votes from CAKE holders, favored the proposal shortly after it went live.
Updated Mar 8, 2024, 7:11 p.m. Published Dec 28, 2023, 8:52 a.m.
Decentralized crypto exchange PancakeSwap's Thursday proposal to reduce the supply of its CAKE token by 300 million was welcomed by most of its voting community.
The decentralized autonomous organization (DAO) controlling the governance of PancakeSwap floated a vote proposal to reduce the maximum supply of CAKE from 750 million to 450 million. The voting period began in early European hours on Thursday and will last until 8:00 am UTC on Friday.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
If the proposal is passed, the reduction will be implemented by January 4th, 2024.
Over 99.95% of the community, representing 70,000 votes from CAKE holders, favored the proposal shortly after it went live.
In a message to CoinDesk, a PancakeSwap team member said the reduction in CAKE puts the project “in a position to pursue further growth across all deployments.”
“With a current circulating supply of 388 million CAKE, the team believes this new and lower cap will be sufficient to gain market share across all chains and sustain the veCAKE model,” Chef Mochi, head of PancakeSwap, said in a Telegram message.
CAKE token prices are up nearly 10% in the past 24 hours, with most of the movement taking place shortly after the proposal was floated, data from CoinGecko shows.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin Faces Japan Rate Hike: Debunking The Yen Carry Trade Unwind Alarms, Real Risk Elsewhere
Speculators maintain net bullish positions in the yen, limiting scope for sudden JPY strength and mass carry unwind.
What to know:
- Impending BOJ rate hike largely priced in; Japanese bond yields near multi-decade highs.
- Speculators maintain net bullish positions in the yen, limiting scope for sudden yen strength.
- BOJ tightening may contribute to sustained upward pressure on global yields, impacting risk sentiment.
Top Stories
