On December 29th, PancakeSwap community has voted for the proposal to "reduce the maximum supply of CAKE from the current 750 million to 450 million."

PancakeSwap has proposed to reduce the maximum supply of CAKE tokens from 750 million to 450 million to better adapt to the current circulation supply. The voting proposal will take place within 24 hours and if approved, will take effect on January 4, 2024.

PancakeSwap has announced the launch of the veCAKE dashboard on the zkSync Era. veCAKE represents locked-vote CAKE, and the veCAKE system allows holders to now influence the CAKE emissions in the pool, providing direct emission measurement utilities, and enabling third-party protocols through authorization. The current emission allocation for zkSync mining transactions is 0.0131 CAKE/block, which has been added to the veCAKE emissions.

PancakeSwap announced today that it has burned 10,166,225 CAKE tokens, worth approximately $34 million.

CAKE has broken through 2.7 USDT and is currently trading at 2.7007 USDT, with a 24-hour increase of 22.69%. Earlier news suggested that a new proposal by Pancakeswap would reduce the maximum supply of CAKE to 450 million coins.

PancakeSwap has proposed a plan to reduce the total supply of CAKE tokens. The proposal suggests reducing the maximum supply of CAKE from the current 750 million to 450 million.There are several main reasons for implementing this adjustment, including providing certainty for future CAKE token supply to the community, accelerating the journey of CAKE, and ensuring flexibility for future growth.The proposal suggests reducing the current total supply of CAKE from 750 million to 450 million, a reduction of 300 million CAKE. PancakeSwap values community feedback before making the final proposal and will strive to incorporate any suggestions before the proposal is formally released.

On December 13th, PancakeSwap will collaborate with Web3 domain and identity platform SPACE ID to launch the .cake domain service. This domain system will operate within the BNB Chain ecosystem, with each domain represented by a BEP-721 token (NFT). After registration, the domain can be used in all protocols integrated with SPACE ID (including PancakeSwap).

PancakeSwap announced on X platform that it has burned 9,170,886 CAKE tokens today, worth approximately $22 million.

PancakeSwap stated on the X platform that a total of 1,083,657 CAKE were minted in November, and 1,435,619 CAKE were burned, resulting in a net mint of -351,962 CAKE.

PancakeSwap officials posted on X platform stating that 8,808,741 CAKE tokens have been burned, with a value of approximately $21 million.