A New Offer Has Been Proposed for This Altcoin Listed on Binance, Its Price Has Risen!

Popular decentralized exchange PancakeSwap has introduced a proposal to reduce the supply of CAKE.

Sharing from account X, the PancakeSwap team announced that they want to reduce the maximum supply of their native token CAKE from 750 million to 450 million.

According to the announcement, the team stated that the 300 million token supply reduction offer will last 24 hours, and if the offer is approved, it will come into force on January 4, 2024.

The developers stated that the new offering will better align CAKE with the existing token in circulation, saying:

“PancakeSwap Fam, this is the moment!

Proposal to reduce maximum CAKE supply from 750 million to 450 million!

By reducing our token supply by 300,000,000 CAKE, we mark PancakeSwap's successful transition from the hyperinflation emission model to the Ultrasound CAKE era.

Now that CAKE has achieved consistent deflation for several months and CAKE is focused on accelerating its ultrasound journey, the proposal aims to reduce the total supply of the CAKE token.”

After this announcement, the CAKE price increased by 7%.

*This is not investment advice.