The voting will last for seven days as users participate in PancakeSwap’s governance proposal to neutralize $CAKE emissions.
PancakeSwap Launches New Governance Proposal For $CAKE Holders
PancakeSwap, the leading Decentralized Exchange (DEX) on Binance Smart Chain (BSC), has created a governance proposal for users to vote on a new $CAKE emission system.
Last time out, PancakeSwap created a government proposal to adjust yield farming rewards to add value to the profit-making venture, as reported by BSCNews on 1st August. Now, the most used BSC-based DEX is again calling on its users to build on the most recent voting success and address a $CAKE emissions reduction. PancakeSwap announced the latest governance proposal via Twitter on August 5th.
“We’ve posted a new emission reduction proposal for you to vote on. You can vote to reduce $CAKE emissions to farms by up to 44%, PancakeSwap Tweeted. The DEX wrapped up the Tweet with the voting duration: “The vote will last for 7 days as this is a BIG decision for CAKE holders.”
According to its voting portal, the purpose for the $CAKE emissions reduction proposal is to make the token emission neutral. In essence, neutral emission means that more CAKE tokens will leave circulation than CAKE produced.
Why Neutral Emissions?
Becoming emission neutral is an excellent idea goal by the protocol. As such, PancakeSwap explained why users need to participate in the governance proposal on their voting page.
“CAKE holders should understand the potential effect that reducing the amount of cake in circulation may have on the token’s price. Supply vs. Demand,” he DEX continued. “Although reducing farm rewards may lower farms’ APR a little at first, in the long term, the goal is to keep demand high.”
The quoted explanation also disclosed the need for neutral emission.
CAKE Emission Reduction: Details and Participation
PancakeSwap has urged users to participate in the voting process by visiting the voting page and casting their votes. As seen in the Tweet, users can vote for CAKE emissions reduction up to 44% in farm rewards. Voting has commenced and will run for seven days (5th August – 12th August).
Users can vote for any of the five options outlined by the DEX in a bid to neutralize $CAKE emissions and increase its value, as shown in the image below:
Over 3500 users have cast their votes already, indicating a strong interest in the government’s proposal to reduce $CAKE emissions. The protocol will keep building on the monthly governance proposal system to keep expanding its ecosystem, ensuring that users have the best DEX at their disposal.
About PancakeSwap
PancakeSwap is the leading DEX on the BSC, with the highest trading volumes in the market. The protocol leverages BSC’s offerings to aid cheap and fast transactions. As such, it has very low trading fees compared to other decentralized exchanges. In addition, PancakeSwap offers a very secure place to farm yields thanks to their Syrup pools.
Where to find PancakeSwap: Website | Twitter | Medium | GitHub
Source : bsc.news
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