The community of the DeFi project PancakeSwap, which is powered by BNB Chain, has supported a number of changes to the project's tokenomics that will focus on limiting the supply of the governance token CAKE to 750 million coins.
98.8% of votes have been cast in favor of the proposal.
The PancakeSwap team has reported the proposed update would "increase the profitability of IFOs and profit from locked CAKEs."
The project developers reportedly plan to implement the changes "in the near future."
There are currently more than 296 million CAKE tokens in circulation. The issuance of the entire volume is planned to be completed within three years.
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Chef Icy, commercial developer of the project, has said this period is a conservative estimate, based on the issuance of 14.25 tokens per block. In reality, due to regular burning, the effective issuance per block is approximately 10.5 CAKE. Based on this data, the full issuance would take about 4.5 years.