PancakeSwap

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The decentralized cryptocurrency exchange (<a href="https://crypto.news/tag/dex/">DEX</a>) PancakeSwap team has announced plans to reduce the overall supply of <a href="https://crypto.news/price/pancakeswap/">CAKE</a> tokens. 
The DEX team proposes to reduce the total supply of native tokens from 750 million to 450 million. The proposal was made within the framework of the PancakeSwap deflationary model – a mechanism that reduces the number of tokens in circulation over time, which supports the value of the remaining tokens and can lead to an increase in their value. 
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 https://twitter.com/PancakeSwap/status/1737757429721653305 
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<blockquote class="wp-block-quote"> 
 “By reducing our token supply by 300,000,000 CAKE, we signal PancakeSwap’s successful pivot from a high-inflation emissions model to a much more efficient flywheel.” <cite>PancakeSwap team</cite>
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However, before making a final decision, PancakeSwap invites users to discuss the initiative on the forum to hear the community’s opinion. 
Amid the supply, the exchange’s native token has risen 18% over the past 24 hours to $2.60 at the time of writing. <a href="https://crypto.news/price/pancakeswap/">CAKE</a>‘s trading volumes also jumped nearly 175% in the last 24 hours, according to data from CoinMarketCap. 
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 <img loading="lazy" decoding="async" width="1024" height="565" src="https://crypto.news/app/uploads/2023/12/image-30.png" alt="This image has an empty alt attribute; its file name is Screenshot-2023-12-21-at-14.35.01-1024x565.png" class="wp-image-14230227">
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 Cake price in 24 hours | Source: CoinMarketCap
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Notably, at the beginning of the month, the developers <a href="https://crypto.news/pancakeswap-unveils-november-burn-report-cake-jumps-6-7/">did not want to burn</a> tokens too often to “still encourage people to provide liquidity.” 
The announcement came amid the backdrop of PancakeSwap’s November burn report, which stated that the exchange had burned 0.089% of the CAKE total supply, achieving a negative net. 
In total, the project team burned 351,962 CAKE tokens in November 2023, at current prices valued at nearly $880,000. The ultimate goal of the PancakeSwap token burn is “for more CAKE to leave circulation than the amount of CAKE that’s produced.” 
 Read more: <a href="https://crypto.news/pancakeswap-enters-the-gaming-arena-with-a-new-web3-integrated-marketplace/"> PancakeSwap enters the gaming arena with a new web3 integrated marketplace </a>

CAKE surges by 18% amid PancakeSwap’s new proposal

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