EddieJayonCrypto
28 Dec 23
The PanCakeSwap community has overwhelmingly supported the proposal to cut the token supply to 450 million, with 95% in favor. This has led to a rally in the CAKE crypto price, trading at $3.96 and showing a surge of 9.01% in the past 24 hours. The market cap for CAKE has increased to $1.05 billion,...
The PanCakeSwap community has overwhelmingly supported the proposal to cut the token supply to 450 million, with 95% in favor. This has led to a rally in the CAKE crypto price, trading at $3.96 and showing a surge of 9.01% in the past 24 hours. The market cap for CAKE has increased to $1.05 billion, and the network plans to conduct token burns every week, further propelling the CAKE token.
The PanCakeSwap community expressed strong support for the team's proposal to curb total token supply to 450 million. On Thursday, December 28, 2023, the PanCakeSwap team initiated the voting process for the proposal of token supply cut to 450 million from 750 million. Within a few hours, it garnered more than 95% votes in favor. At the time of writing, a total of 732 users voted to decide whether or not the PanCakeSwap token supply cut should be executed. Out of these, 96.71% voted in favor while the remaining 3.29% opposed the proposal.
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