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PancakeSwap Developers Launch Proposal to Reduce CAKE Token Supply by 300 Million Tokens
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Decentralized exchange (DEX) PancakeSwap has introduced a proposal to significantly decrease the maximum supply of its native ecosystem token, CAKE.
The developers seek to reduce the token supply from 750 million to 450 million, aiming to better align it with the current circulating supply of 388 million.
In an official announcement on December 28, PancakeSwap revealed that the voting proposal for the reduction will last for a 24-hour period.
If approved, the proposal will take effect on January 4, 2024.
The developers emphasized that the reduction aims to complement CAKE’s consistent deflation and accelerate its journey towards ultrasound CAKE.
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