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Pancakeswap Proposes To Launch veCAKE

Twitter icon  •  Published il y a 5 mois  •  Hassan Maishera

The Pancakeswap team told its community via X (formerly Twitter) on Thursday that they have submitted a proposal to launch veCAKE (Vote-Escrowed CAKE).

The Pancakeswap team told its community via X (formerly Twitter) on Thursday that they have submitted a proposal to launch veCAKE (Vote-Escrowed CAKE). veCAKE is designed to empower CAKE holders with increased governance influence, boost liquidity across our pools, and supercharge rewards for CAKE stakers.

Furthermore, voting gauges allow for veCAKE holders to vote on where future CAKE farm emissions will be directed. veCAKE holders will be able to directly impact how CAKE emissions are distributed within each pool, rewarding specific liquidity pools and projects, the team added. 

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 9% today and is currently trading at $2.404.

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.