What is the issuance and circulation of CAKE coins?

PancakeSwap's CAKE, with a circulating supply of approximately 281.2 million tokens (as of March 2023), is used for governance, yield farming, staking, and accessing PancakeSwap products and services.

Oct 28, 2024 at 12:41 am

CAKE Coin Issuance and Circulation

1. Issuance

PancakeSwap launched CAKE in September 2020 as the native governance token of its decentralized exchange (DEX). A total of 750 million CAKE were created at genesis, with the following distribution:

Farming rewards (90%): 675 million CAKE
Syrup pool (5%): 37.5 million CAKE
Developer and team (5%): 37.5 million CAKE

2. Circulation

As of March 8, 2023, the circulating supply of CAKE is approximately 281.2 million tokens. This number varies slightly over time as CAKE is burned and minted through various mechanisms.

3. Burn Mechanism

PancakeSwap implemented a burn mechanism in August 2021 to reduce the total supply of CAKE. A portion of the trading fees generated on the DEX is used to purchase and burn CAKE.

4. Minting Mechanisms

CAKE can also be minted through the following mechanisms:

Farming: CAKE is rewarded to users who provide liquidity to PancakeSwap's trading pools.
Lotteries: Users can participate in lotteries to win CAKE.
Community Voting: CAKE can be used to vote on proposals submitted to the PancakeSwap governance system.

5. Use Cases

CAKE has several use cases within the PancakeSwap ecosystem:

Governance: CAKE holders can participate in governance decisions by voting on proposals.
Yield Farming: CAKE can be used to provide liquidity and earn rewards in PancakeSwap's Yield Farming pools.
Staking: CAKE can be staked to earn rewards from the PancakeSwap Lottery.
PancakeSwap Products: CAKE can be used to purchase PancakeSwap products and services, such as NFTs.

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