What is CAKE coin? Introduction to the issue price, total volume and white paper of CAKE coins

CAKE, the utility token of PancakeSwap, facilitates transactions, enables governance, and offers rewards for platform contributions, while its supply is capped at 750 million.

Oct 30, 2024 at 07:44 pm

What is CAKE Coin?

CAKE is the native utility token of PancakeSwap, a decentralized exchange (DEX) built on the Binance Smart Chain (BSC). PancakeSwap allows users to trade various cryptocurrencies, provide liquidity, and earn rewards through yield farming and staking. CAKE acts as the fuel for the PancakeSwap ecosystem, enabling users to pay transaction fees, participate in governance, and receive rewards for their contributions to the platform.

Issue Price of CAKE Coin

The initial issue price of CAKE coin was $0.93 when it launched in September 2020.

Total Volume of CAKE Coins

The total supply of CAKE coins is limited to 750,000,000. As of February 2023, there are approximately 169,928,758 CAKE coins in circulation.

White Paper of CAKE Coin

The white paper for CAKE coin is available on the PancakeSwap website. It provides comprehensive information about the project, including its mission, technology, tokenomics, and future plans. Key highlights of the white paper include:

Purpose of CAKE Coin: CAKE coin serves as the utility token for PancakeSwap, enabling users to participate in various activities within the DEX.
Token Allocation: The total supply of CAKE coins is allocated as follows: 60% for the community, 20% for team development, 15% for investors, and 5% for advisors.
Token Burn Mechanism: PancakeSwap implements a token burn mechanism to reduce the supply of CAKE coins over time, creating deflationary pressure.
Governance: CAKE coin holders have voting power to participate in governance decisions on PancakeSwap's future development.

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