PancakeSwap Passes Proposal Capping CAKE Token Supply

CAKE Token

PancakeSwap has unveiled a governance proposal that seeks to limit the supply of its native CAKE tokens to a maximum of 750 million.

The governance voting process, which garnered 11,008,360.64 CAKE votes or 98.8%,  was opened to the community for a day.

The developers of PancakeSwap announced that there was no limit on the individual voting rights and that it was based on their locked tokens.

The team estimates that the period for the limited supply to be met and entirely full circulation in the market will be three years. They added that they were likely to surpass rivals by then.

The platform also anticipates new utilities, including staking, governance, and farming yields, to drive the value of the tokens. PancakeSwap will have an AMA Twitter Space on May 12 to get feedback from the public.

PancakeSwap is a decentralized finance application based on BNB Chain and uses an automated market maker to fill trade orders.

Source: PancakeSwap

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