.PancakeSwap launches voting to reduce $CAKE issuance cake pancakeworld
Inflation regulation is extremely important for cryptocurrencies. In the case of the same CAKE, the token had a maximum circulation limit, which the developers of PancakeSwap explained by the need to encourage users to provide liquidity, which is quite reasonable, because the availability of liquidity is key to the performance of any exchange. As a result, holders were forced to regularly pour their tokens into pools on PancakeSwap to avoid losing a third of the value of their CAKE every year.
In order to manage this problem on May 12, a vote to limit the CAKE maximum supply to 750 million tokens was initiated and ended with a decision in favor of. As a result, it brought the total number of tokens in circulation, calculated excluding burned tokens, to 307.4 million CAKE, according to . The decision had a very positive effect on CAKE quotations; back then, the token increased by almost 40% in two days., and the token's price subsequently rolled down by 30%. Nevertheless, PancakeSwap builders chose not to stop and make all necessary decisions now, when the token price is dangling at the bottom. After the recent vote was announced, the price of CAKE rose by 7.5% and, after a slight correction, it stopped at $3.2 per token.
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