PancakeSwap

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 <p class="is-style-lead">Pancakeswap gains overwhelming <a rel="noopener noreferrer nofollow" title="community" href="https://thebittimes.com/tag/community.html">community</a> support for 300 million CAKE <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a> <a rel="noopener noreferrer nofollow" title="supply" href="https://thebittimes.com/tag/supply.html">supply</a> reduction, bolstering market presence across chains.</p>
 <p>Pancakeswap, the third-largest decentralized exchange globally, recently witnessed a near-unanimous community vote on a governance proposal to reduce the CAKE token supply by 300 million, shifting it from 750 million to 450 million. The resounding support of 97.8% underscored the community’s confidence in this move, aimed at enhancing market share across various chains and sustaining the VECAKE model.</p>
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    <p lang="en" dir="ltr">PancakeSwap Fam, the moment is here!<br><br>Proposal to reduce the max <a rel="noopener noreferrer nofollow" title="supply" href="https://thebittimes.com/tag/supply.html">supply</a> of $CAKE from 750M to 450M!<br><br>By reducing our <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a> <a rel="noopener noreferrer nofollow" title="supply" href="https://thebittimes.com/tag/supply.html">supply</a> by 300,000,000 $CAKE, we signify PancakeSwap’s successful shift from a high-inflation emissions model to the Ultrasound CAKE era.<br><br>Vote for… pic.twitter.com/3zCzoBBiRl</p>— PancakeSwapEveryone's Favorite DEX (@PancakeSwap) December 28, 2023
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 <p>Post-vote, CAKE displayed impressive performance, surging 42.6% against the U.S. dollar over the past week and achieving a notable 62% increase for the month. However, a minor 2.4% dip against the greenback occurred in the last day.</p>
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   7-day price chart of CAKE from December 22 – December 29
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 <p>Presently, CAKE boasts a market capitalization of $872 million, constituting 0.05% of the $1.75 trillion crypto economy. Pancakeswap, with $1.66 billion in total value locked, has witnessed a 16.8% increase in the past month, reinforcing its standing in the decentralized exchange arena.</p>
 <p>Despite CAKE’s monthly surge, it remains 91.8% below its all-time high of $43.96 per coin in April 2021. CAKE’s current 24-hour intraday trading range fluctuates between $3.49 and $3.83 per unit.</p>
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> PancakeSwap surges 92% as defi tokens record outsized price increases
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/pancakeswap-community-backs-300m-cake-token-supply-cut-tbt75134.html">https://thebittimes.com/pancakeswap-community-backs-300m-cake-token-supply-cut-tbt75134.html</a></p>

Pancakeswap community backs 300m CAKE token supply cut

TheBitTimes

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