A new proposal from PancakeSwap has passed by an overwhelming majority and will see rewards from underperforming farms redistributed.
PancakeSwap Seeks Impovement
The PancakeSwap community has voted in numbers to pass a proposal that will adjust the way in which CAKE rewards are distributed. In total 1,582,004.67 votes were cast in favor of the change while 21,705.08 votes were recorded against. That meant the proposal passed with a 98.65% approval rating.
As PancakeSwap explained in the proposal on December 29, the adjustments will make more popular farms even more rewarding.
“We’re proposing to reduce CAKE rewards on the farms mentioned below, which will mean those rewards will be distributed back across all other existing farms, in addition to giving us more space to add more new Syrup Pool/farm combos etc,” they said.
The farms which will see reduced rewards are listed here and were selected by PancakeS ap based on performance metrics. PancakeSwap users can now look forward to increased rewards in the most popular farms.
What is PancakeSwap?
PancakeSwap is a Decentralized Exchange (DEX) built on BSC. It offers users various features such as Liquidity Pools, Swapping, Yield Farming, Syrup Pools, Automated Market Maker, Initial Farm Offering (IFO), profile system, and many others.
The protocol helps users make the most out of their crypto assets by trading, earning through yield farming, and winning via lottery, prediction, and NFT collectibles. With the highest trading volumes in the market, PancakeSwap is the leading DEX on the BSC.
Where to find PancakeSwap:
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.
BSC NEWS is a private news network. All posts posted by this user belong 100% to bsc.news All rights are reserved to BSC NEWS for more information about BSC NEWS contact BSC NEWS HERE.
