PancakeSwap opened emissions voting and the community decided to reduce CAKE emissions.
The PancakeSwap DEX announced via a twitter post the other day on June 29th that they have once again opened voting on PancakeSwap to speed up the process of becoming emission neutral. This goal aims to balance the amount of CAKE (PancakeSwap’s native token) being produced with the amount being burned. This creates a fixed supply of CAKE. PancakeSwap notes that long term this will greatly benefit CAKE holders, but in the short term will negatively affect CAKE farms APRs. It is important to note that CAKE is still inflationary according to the graphic below.
Currently, CAKE emits 20 CAKE per block with a daily CAKE emission of 530,000 daily. The options for voting now, which can be found here, looks to determine 1 of 3 things:
That there is no change to block emissions
That there is a 5% reduction to farm rewards = 9.5 CAKE per block goes to farm rewards; Total Emissions 19.5 CAKE per block including syrup pools
That there is a 10% reduction to farm rewards = 9 CAKE per block goes to farm rewards; Total Emissions 19 CAKE per block including syrup pools
The Governance Vote Concludes
Through the governance process, users voted for CAKE emissions to fall from 20 CAKE per block to 19 CAKE per block. This reduces emissions brings PancakeSwap’s CAKE closer to an emission neutral token.
Voting on Future Proposals!
Voting on this proposal has concluded. For future reference, voting free and weighed based upon how much CAKE an investor holds; a CAKE holder of 100 CAKE has more voting power then a CAKE holder of 60 CAKE. Voting is simple and takes less than a minute. Let your voice be heard!
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.