PancakeSwap’s exec reveals latest changes; will traders wake and CAKE?
May 10, 2023
By Michael Nderitu
How many are 1,10,100 CAKEs worth today
PancakeSwap lead releases statement explaining CAKE’s downward spiral.
Resurgence of on-chain activity improves CAKE prospects.
It’s been a harsh three weeks for CAKE holders during which the value of cake plummeted to February 2021 levels. What started out as a seemingly innocent pullback manifested into a major drawdown, and more questions than answers.
PancakeSwap’s lead executive just released a statement explaining the situation and it may offer insights into why CAKE lost flavor. According to the statement, CAKE’s recent performance is a reflection of changes to its tokenomics.
The PancakeSwap head chef revealed that changes to the platform’s inflation model were necessary for the CAKE Syrup pool to ensure sustainability.
PancakeSwap recently proposed a 3-5% CAKE inflation rate and also plans to introduce a new revenue-sharing model to generate value for users. The statement also confirmed that PancakeSwap will maintain the CAKE burn mechanism. While the recent changes spoofed investors and led to a massive downside, will this announcement mark a CAKE pivot?
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