PancakeSwap released the Decentralized Finance application PancakeSwap governance proposal that outlines a roadmap for its native token, CAKE.
The proposal was approved by a majority of 98.8% across the board 11 million votes
it is suggested that a supply limit of 750,000,000 be imposed on the CAKE token.
CAKE currently has 295 million in circulation. CAKE is likely to have the maximum supply in circulation within three to four more years.
The Pancake staking plan is also described in the roadmap. vCAKE (bCAKE) and iCAKE are created to increase farm rewards and boost initial farm offering benefits. They can also be used to scale-up governance voting abilities.
This functionality was added to PancakeSwap to allow users to stake more CAKE and force a decrease in the circulating supply.
The PancakeSwap team’s pseudonymous members will discuss the new roadmap during an open forum. Twitter spaces
at 13:00 UTC on Thursday.
The native token for the application suffered the same fate as the rest of the cryptocurrency market this week. It saw a 22.86% drop in the past 24 hours and traded at $4.02.