The Pancakeswap team announced via Twitter on Thursday that it has submitted a new CAKE emission reduction proposal. It had asked its community to vote on the proposal as it 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 added that the vote will last for two days, allowing CAKE holders to cast their votes.
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is up by more than 5% today and is currently trading at $3.268.