The Pancakeswap team announced via Twitter on Monday that its community has passed the CAKE emission reduction proposal. The proposal seeks to reduce CAKE emissions to farms by up to 11%. The end goal of reducing emissions is to make CAKE “emission neutral” or “deflationary”. That means, on average, the amount of CAKE burnt per block will be more than the amount of CAKE minted.
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is down by more than 1% today and is currently trading at $3.389.