Cake Tokenomics 3.0將實施新的令牌分配模型

BNB連鎖店上最大的分散交易所（DEX）Pancakeswap已正式宣布實施Cake Tokenomics 3.0。這標誌著向更具可持續性和縮小的生態系統的重大轉變。

PancakeSwap, the leading decentralized exchange (DEX) on BNB Chain, is set to introduce Tokenomics 3.0 for its native CAKE token. This transition will see the exchange move toward a more sustainable and deflationary ecosystem.

BNB鏈上領先的分散交易所（DEX）Pancakeswap將為其本地蛋糕令牌引入Soginomics 3.0。這種過渡將使交流朝著更具可持續性，更穩定的生態系統發展。

According to an announcement on April 11, PancakeSwap will begin rolling out the new tokenomics model on April 23, 2025. The main goals are to curb CAKE inflation, optimize system efficiency, and deliver long-term value to the community. However, the proposal has sparked considerable debate.

根據4月11日的公告，PancakesWap將於2025年4月23日開始推出新的Tokenomics模型。主要目標是遏制蛋糕通貨膨脹，優化系統效率並為社區帶來長期價值。但是，該提案引發了很多辯論。

What Are the Key Changes in CAKE Tokenomics 3.0?

Cake Tokenomics 3.0的主要變化是什麼？

PancakeSwap has set three primary goals for Tokenomics 3.0: achieve an annual deflation rate of 4%, eliminate complex mechanisms such as veCAKE, and reduce CAKE emissions to improve sustainability.

PancakesWap為Tokenomics 3.0設定了三個主要目標：達到4％的年度縮水率，消除了諸如Vecake之類的複雜機制，並減少了蛋糕排放以提高可持續性。

Here are the specific changes:

這是具體的更改：

The new tokenomics will commence on April 23, 2025.

新的象徵學將於2025年4月23日開始。

From that date, users will have six months to withdraw their previously locked CAKE.

從那時起，用戶將有六個月的時間撤回以前鎖定的蛋糕。

The new tokenomics model will focus on cutting down on token emissions to facilitate a more sustainable ecosystem.

新的令牌學模型將著重於減少令牌排放，以促進更可持續的生態系統。

The goal is to reach an annual deflation rate of 4%.

目標是達到4％的年度縮水率。

Moreover, PancakeSwap plans to eliminate advanced voting and liquidity complexes such as veCAKE.

此外，PancakesWap計劃消除諸如Vecake之類的先進投票和流動性綜合體。

This move aims to simplify the system while concentrating on core strengths.

此舉旨在簡化系統，同時專注於核心優勢。

The Debate Around CAKE 3.0

圍繞蛋糕3.0的辯論

Several developers and community members believe the changes will benefit the project in the long term.

一些開發商和社區成員認為，這些變化將從長遠來看將受益。

“At its core, CAKE Tokenomics 3.0 defends true value and protects CAKE holders by strengthening long-term fundamentals—such as aggressively cutting emissions to accelerate deflation and sustainably grow value,” Chef Philip said.

廚師菲利普說：“從本質上講，蛋糕Tokenomics 3.0捍衛了真正的價值，並通過加強長期基本原理來保護蛋糕持有人，例如積極切割排放以加速放氣並可持續增強價值。”

However, not everyone agrees. One of the largest veCAKE holders, Cakepie DAO, expressed strong concerns on X. They criticized the decision to eliminate veCAKE, calling it non-transparent and potentially damaging to projects around that model.

但是，並不是每個人都同意。最大的Vecake持有人之一Cakepie Dao對X表示了強烈的關注。他們批評了消除Vecake的決定，稱其為非透明的，並且可能對該模型圍繞該模型的項目造成損害。

This showcases a divide in the community over how PancakeSwap is balancing deflation and stakeholder interests.

這展示了社區中關於pancakeswap如何平衡通縮和利益相關者利益的鴻溝。

“Sunsetting veCAKE would be devastating for Cakepie and for every project built on long-term alignment with PancakeSwap. Our entire ecosystem is structured around veCAKE, with millions of CAKE locked for four years as a clear show of commitment. Removing veCAKE would erase that commitment overnight and undermine the trust and efforts of all builders who believed in PancakeSwap’s vision,” Cakepie stated.

“Sunsetting veCAKE would be devastating for Cakepie and for every project built on long-term alignment with PancakeSwap. Our entire ecosystem is structured around veCAKE, with millions of CAKE locked for four years as a clear show of commitment. Removing veCAKE would erase that commitment overnight and undermine the trust and efforts of all builders who believed in PancakeSwap's vision,” Cakepie stated.

In response, PancakeSwap proposed a $1.5 million compensation package in CAKE tokens. They offered this to CKP (Cakepie’s token) holders if Cakepie agreed to allow a 1:1 swap from mCAKE (Cakepie’s CAKE derivative) to CAKE.

作為回應，PancakesWap提出了一個耗資150萬美元的蛋糕代幣薪酬包。如果Cakepie同意允許McAke（Cakepie's Cake deivative）換成蛋糕，他們將其提供給CKP（Cakepie的令牌）持有者。

However, Cakepie is currently voting on whether to accept the offer.

但是，Cakepie目前正在就是否接受要約進行投票。

At the time of reporting, CAKE is trading around $1.97, up 17% since April 8, when PancakeSwap first proposed Tokenomics 3.0.

在報告時，Cake的交易約為1.97美元，自4月8日以來，PancakesWap首次提出了Tokenomics 3.0。

Additionally, data from DeFiLlama shows that PancakeSwap’s 24-hour trading volume has surpassed $1 billion, overtaking Uniswap.

此外，Defillama的數據表明，Pancakeswap的24小時交易量超過了10億美元，超過了Uniswap。

Meanwhile, a report from BeInCrypto reveals that PancakeSwap controls over 90% of the DEX market share on BNB Chain. This highlights the strong relationship between BNB Chain and PancakeSwap.

同時，Beincrypto的一份報告表明，PancakesWap控制了BNB鏈上DEX市場份額的90％以上。這突出了BNB鏈與煎餅持有的牢固關係。