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news-imageDecember 28, 2023

PancakeSwap's CAKE token jumps 10% as proposal gains traction to practically half the max token supply

PancakeSwap's native CAKE token price surged nearly 10% today, according to CryptoSlate's data, following the decentralized exchange (DEX) proposal to reduce its maximum supply by 300 million to 450 million tokens. There are currently roughly 386 million CAKE tokens issued, with 267 million in the circulating supply.
Publisher: CryptoSlate
Sentiment: Positive
CAKE

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cover-imageBlockworks
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PancakeSwap veCAKE gets sliced in new proposal

PancakeSwap's new Tokenomics v3 proposal promises “true ownership, simplified governance and sustainable growth.” Central to this shift is the deprecation of veCAKE replaced with direct emissions management and a max one-year lock, aimed at boosting capital efficiency and simplifying participation.

Positive
cover-imageThe Cryptonomist
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PancakeSwap surpasses Uniswap: the DEX dominates the weekly trading volume

The competition among decentralized exchange platforms (DEX) has seen a significant shift. PancakeSwap has surpassed Uniswap in weekly transaction volume, claiming the top spot among decentralized exchanges. In a tweet, CoinMarketCap highlighted this milestone of Pancakeswap, explaining that the platform traded 14 billion dollars in one week with a growth of 58.04%. Pancakeswap thus surpassed Uniswap.

Positive
cover-imageBitcoin
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DEX Platform Pancakeswap Dethrones Uniswap in Weekly Volume Race

Per data aggregated from coinmarketcap.com and defillama.com, the decentralized exchange (DEX) platform Pancakeswap has eclipsed Uniswap in seven-day trading volume this week. DEX Volume Wars Analytics unveiled via a Sunday post on X by coinmarketcap.com's social media account reveal that the DEX Pancakeswap secured the top position in this week's trading volume figures.

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