TOKENPOST
1 min read
Add as a preferred source on Google

PancakeSwap Burned 1.79 Million Tokens in October as Supply Fell

October burning of the PancakeSwap token (CAKE) exceeded minting by 1,116,211 tokens, equal to 0.339% of total supply.

By Enna Lee
Published
A gold token softens at the rim inside a ceramic crucible / TokenPost.ai
A gold token softens at the rim inside a ceramic crucible / TokenPost.ai

PancakeSwap said it burned 1,790,527 PancakeSwap tokens (CAKE) in October, exceeding new issuance by 1,116,211 and extending the net supply decline streak to 38 months.

The platform minted 674,316 CAKE during the month. The resulting net decline was 0.339% of total supply.

A prior weekly burn update put the consecutive streak at 37 months. PancakeSwap’s fee-funded buy-and-burn mechanism uses a portion of weekly fees to buy CAKE for burning.

Enna Lee

Reporter

Enna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.

Loading…