70% Of The PancakeSwap Community Is In Favor Of Reducing The Stakes
The community that governs PancakeSwap, a major decentralized trading venue that runs atop Binance’s BNB Chain, is considering a proposal to reduce staking rewards by slashing CAKE block emissions. A community vote to reduce CAKE block rewards emitted by the decentralized-finance protocol PancakeSwap is nearing completion, with nearly 70% of votes of the decentralized autonomous organization, or DAO, in favor of an “aggressive reduction.” The vote will end at 15:30 UTC on Friday.
CAKE emissions on PancakeSwap’s main liquidity pool would drop by 94% once the proposal is voted in. Core developers published a proposal to this effect, and voting kicked off earlier this week, although members of the protocols DAO started debating the proposal in early April. The proposal aims to cut down CAKE’s interest to around 3-5%. The current rate above 20% was deemed “unsustainable” by some community members. The team behind PancakeSwap carefully considered the dialogue surrounding the unsustainable inflation rate of CAKE that required the token to see higher adoption and capital inflow for stakers to earn higher yields. A proposal to aggressively reduce inflation and transform CAKE’s tokenomics to generate higher real yield.
Source
https://t.me/Crypto_Futures_Trading
