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.