PancakeSwap continues to innovate, reducing the circulation of CAKE tokens. The protocol has also promised an upgrade on its smart contract.
PancakeSwap Promises Revamped Tokenomics
Decentralized Exchange (DEX) platform on BNB Chain, PancakeSwap, has updated users concerning the monthly reduction of CAKE emissions.
In a Twitter post published on February 28, PancakeSwap announced that the monthly emissions would be enacted soon. Additionally, the DEX stated that it would revamp its smart contract to improve its tokenomics.
“Wen reduction? Soon. We understand that the community has questions on monthly emissions, and our token supply. To be direct, we are revamping our MasterChef contract, which gives us the ability to introduce changes that have significant positive impact on our tokenomics,” the DEX tweeted.
The protocol also burned $43 Million worth of CAKE and is aiming to reduce effective emissions. The end goal of reducing emissions is to become “emission neutral.” This means more CAKE leaving circulation than the amount of CAKE that PancakeSwap produces.
Now, users are anticipating the protocol’s plan to revamp its smart contract as it continues to make innovations to increase the value of CAKE tokens. With CAKE still in the doldrums, action is needed soon before it becomes more unattractive to investors.
What is PancakeSwap?
PancakeSwap is a Decentralized Exchange (DEX) built on the BNB Chain. It offers users various features such as Liquidity Pools, Swapping, Yield Farming, Syrup Pools, Automated Market Maker, Initial Farm Offering (IFO), NFT profile system, and many others.
PancakeSwap’s official links are available below:
Source : bsc.news
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