May 14, 1:25 pm
|PancakeSwap's New Proposal Aims to Cap CAKE Supply at 750 Million|
Decentralized Finance (DeFi) application PancakeSwap has released a governance proposal that details several goals of its native token, CAKE. It garnered a 98.8% majority across 11 million votes in a voting window of a 24-hour period, while opposition accounted for a mere 131K participants.
The second iteration of PancakeSwap's tokenomics roadmap imposes a maximum supply cap of 750 million for the CAKE token.
The proposal, which received overwhelming support from the participants, stated that 'a max supply cap, and also incentives for an even smaller effective circulating supply better reflect the value, community, and sustainability' of the application.
'We propose a maximum supply cap of 750 Million (750M) for CAKE, and will introduce revised tokenomics for locked CAKE, such as bringing boosted IFO benefits and farm yields to our users'
The current circulating supply of CAKE stood at a little over 294 million. Assuming there are no changes in terms of its ongoing rate of emission, the circulating supply would take nearly three years to reach the cap.
Besides reducing the total supply of the token, the proposal also outlines introducing additional utility and incentives to user...
April 28, 4:25 pm
|Biggest Movers: STEPN GMT Remains Close to Record Highs, as GRT and CAKE...|
Following a short-lived move above $4.50 on Wednesday, GMT was once again higher, and traded up by over 20% in today's session. GRT was another big gainer in Thursday's session, as it moved to a multi-week high, whilst CAKE rebounded after recent losses.
The Graph (GRT)
Newly formed GMT was undoubtedly today's top gainer, climbing by over 20%, howe...
April 04, 3:30 pm
|Biggest Movers: CAKE Hits $10, as DOGE Rises for a Second Consecuti...|
DOGE was once again higher on Monday, as traders bought the token, days after a video about the meme-coin was shared by Elon Musk. This came as CAKE was also a big mover today, climbing beyond the $10 mark, hitting a multi-month high in the process.
DOGE rose for a second consecutive session, as bulls continued to pile into the meme...
March 17, 6:32 pm
|Biggest Movers: AVAX, RUNE up Over 10%, as CAKE Surges 20% on Thursday|
AVAX was once again higher on Thursday, rising for its fourth consecutive session, as it further cements itself in the crypto top ten. Although RUNE was also trading by as much as 15% higher, it was CAKE that led Thursday's gainers.
Pancakeswap (CAKE) rose to its highest level in almost four weeks on Thursday, as it moved away fr...