PancakeSwap Proposes Reducing CAKE Token Supply to 450M, Gains Community Support
• PancakeSwap proposed reducing CAKE token supply by 300 million from 750 million to 450 million • Proposal welcomed by PancakeSwap community, over 99.95% of votes favored it • Reduction aims to gain market share across chains and sustain veCAKE model • CAKE prices up nearly 10% since proposal was floated • If passed, new supply cap to be implemented by January 4th, 2024