The community of Binance-backed decentralized cryptocurrency exchange (DEX) PancakeSwap (CAKE) has taken action to reduce the total supply amount by almost half.
The PancakeSwap front, which has been struggling with inflation in the token supply for a long time, rolled up its sleeves to find a solution to this situation. On PancakeSwap official forum 21 December In the proposal presented to the community on the day, lowering the maximum total supply was brought to the agenda.
PancakeSwap’s native token CAKE The total supply available for as 750 million fixed, the community almost half by reducing to 450 million demanded that it be dropped.
450 million CAKE defined as the new total supply in the submitted offer. The future would be sufficient for all activities It was emphasized that it would happen. CAKE currently 388 million supply in circulation is available.
The proposal in question will need to be approved by the core development team in order to turn into an official vote and come into force. Pancakeswap recently made a similar offer for voting rights in governance. Vote-Escrowed Cake (veCAKE) It launched a new token called .
According to CoinGecko data, in a short time due to the news flow 25% rising CAKE, $2,191 from level for $2,727 reached. While writing CAKE from $2.69 is being traded.