PancakeSwap continues momentum, bringing further value-add to their protocol.
PancakeSwap announced that they are now “executing adjustments” to create more value in their yield farms. The goal of the adjustment is to move rewards away from liquidity pools with low liquidity, low volume, and excessive liquidity to key farms with low rewards and make room for more new liquidity pools.
The Pancake team confirmed the announcement on June 20th with an official Tweet to their community. The changes on the platform come amidst turmoil in the market as Bitcoin crossed into the dreaded ‘death cross’ zone.
Below is an image via PancakeSwap showing the readjustments of their current liquidity pools.
PancakeSwap also noted in their Tweet that voting is currently not online and that the PancakeSwap team is working hard to bring voting back online. Until then, they have asked their community to trust in their data-driven decision making.
Controlling the Ecosystem
PancakeSwap has been incredibly focused on creating massive efficiency on its platform as of late. PancakeSwap is the largest decentralized exchange (DEX) on Binance Smart Chain, and has been taking steps to increase value to the platform. Now with the yield farm adjustments, it truly shows PancakeSwap’s continued efforts to establish additional value.
PancakeSwap’s native token, CAKE, is essential to the PancakeSwap ecosystem. The CAKE token has no hard cap. The PancakeSwap team has recently built deflationary mechanics into the PancakeSwap products to protect against the lack of hard-cap.
There will be a 50 – 90% reduction for farms on the list with their latest moves. However, the Pancake team expects a 10% increase to all other farms. This has raised concern from the PancakeSwap community, with many Twitter commenters expressing distaste in the Twitter comments.
Block emissions were recently reduced from 40 CAKE per block to 25, and regular token burns are embedded in products. The tokenomics of CAKE, like the adjusted yield farms, have been calibrated to provide the best use-case and value for users. As PancakeSwap expands, it seems their focus remains on offering users top products and options to grow.
What is PancakeSwap?
PancakeSwap is the leading decentralized exchange on Binance Smart Chain, with the highest trading volumes in the market. PancakeSwap runs on Binance Smart Chain, a blockchain with much lower transaction costs than Ethereum or Bitcoin. As a result, trading fees are lower than other top decentralized exchanges, and the protocol offers a secure place to farm yields thanks to their Syrup pools.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.