pancakeswap（蛋糕）實施Tokenomics 3.0升級，退休驗證並引入購買模型

在4月21日發表的博客文章中，Pancakeswap（Cake）團隊確認，關鍵更改將於2025年4月23日上線。

PancakeSwap has begun implementing its long-anticipated Tokenomics 3.0 upgrade for the CAKE token.

Pancakeswap已開始實施其久違的令牌學3.0升級蛋糕令牌。

The official integration of Tokenomics 3.0 is now underway. Here's what you need to know about the changes and important dates:

官方的代酮組學3.0的官方整合正在進行中。這是您需要了解的關於變化和重要日期的知識：

Key Milestones:

關鍵里程碑：

🔹Retirement of CAKE Staking, veCAKE, Gauges Voting, Revenue Sharing, and Farm Boosting

🔹退休蛋糕堆放，維卡克，量規投票，收入共享和農場增強

🔹Voting results from Epoch 37 will be fully implemented on April 23 at 00:01 (GMT+8).

🔹Epoch37的投票結果將於4月23日在00:01（GMT+8）全面實施。

🔹A six-month window will open for users to redeem their mCAKE and veCAKE at a 1:1 ratio after all locked CAKE and veCAKE positions are unlocked.

🔹六個月的窗口將供用戶打開，以在所有鎖定蛋糕和Vecake位置解鎖後以1：1的比例兌換其McAke和Vecake。

The upgrade aims to reduce token inflation, encourage sustainable growth, and reward loyal users. It will transition PancakeSwap to a buy-and-burn revenue-sharing model and set a hard cap of 450 million CAKE.

該升級旨在減少令牌通貨膨脹，鼓勵可持續增長並獎勵忠實的用戶。它將將pancakeswap轉換為購買和燃燒的收入共享模型，並將4.5億個蛋糕的硬帽蓋住。

Tokenomics 3.0 will also see the daily emissions reduced from 29,000 CAKE to 20,000 CAKE, and finally to 14,500 CAKE. This reduction will result in an estimated annual burning of 5.3 million CAKE.

Tokenomics 3.0還將看到每日排放量從29,000蛋糕減少到20,000個蛋糕，最後減少到14,500個蛋糕。這種減少將導致估計每年燃燒530萬個蛋糕。

Earlier this year, PancakeSwap unveiled plans to overhaul its token economic model, shutting down its veCAKE-based governance system and introducing a new governance token.

今年早些時候，Pancakeswap揭幕了計劃對其令牌經濟模式進行大修，關閉其基於Vecake的治理體係並引入新的治理令牌。

The proposal to redesign PancakeSwap tokenomics has drawn criticism, especially from Cakepie DAO, a protocol based on the veCAKE model and one of the biggest CAKE holders. The DAO claimed that there were irregularities in the vote that approved the changes and criticized the removal of decentralized governance features.

重新設計pancakeswap代幣學的提議引起了批評，尤其是來自Cakepie Dao，該協議是基於Vecake模型的協議，也是最大的蛋糕持有人之一。 DAO聲稱，投票中存在違規行為，批准了這些變化，並批評了去中心化的治理特徵。

Governance, Decentralization & the veCAKE Paradigm

治理，權力下放和Vecake範式

To the PancakeSwap team — particularly to those shaping the Tokenomics 3.0 proposal:This is not a reaction. This is a reminder.DeFi is not a destination — it is a discipline.And governance is not a burden — it is the apex of power.The proposal to modify PancakeSwap’s token economic model has drawn criticism, especially from Cakepie DAO. The protocol, which is based on the veCAKE model and one of the biggest CAKE holders, claimed that there were irregularities in the vote that approved the changes. They also criticized the removal of decentralized governance features.

對於pancakeswap團隊來說，特別是對於那些塑造Tokenomics 3.0提案的人來說：這不是反應。這是一個提醒。 DEFI不是一個目的地 - 這是一門學科。治理不是負擔 - 它是權力的最高負擔。修改Pancakeswap的代幣經濟模式的提議提出了批評，尤其是Cakepie Dao。該協議基於Vecake模型，也是最大的蛋糕持有人之一，聲稱投票中存在違規行為可以批准更改。他們還批評去中心化的治理特徵。

Cakepie DAO proposed modifying the system instead of removing it entirely. Their suggestions included rewarding high-performing pools and penalizing early exits. In response, PancakeSwap has offered up to $1.5 million worth of CAKE in compensation for Cakepie users if the Cakepie DAO agrees to a 1:1 redemption deal for mCAKE holders.

Cakepie Dao提議修改系統，而不是完全刪除系統。他們的建議包括獎勵高性能的游泳池和懲罰早期出口。作為回應，如果Cakepie Dao同意為McAke Holders達成1：1的贖回協議，Pancakeswap已為Cakepie用戶提供多達150萬美元的蛋糕賠償。

Despite the pushback, CAKE’s market performance has shown signs of recovery. The token is trading at $2.01, up 0.7% in the last 24 hours, with daily volume increasing 36% to $78.6 million.

儘管有反擊，蛋糕的市場表現已經顯示出恢復的跡象。代幣的交易價格為2.01美元，在過去24小時內增長了0.7％，每日銷量增加了36％至7860萬美元。

PancakeSwap’s 24-hour DEX volume has also risen to $1.03 billion, surpassing Uniswap’s $896 million, according to DeFiLlama data. However, weekly trading volume has increased 5%, compared to Uniswap’s 39% decline.

根據Defillama的數據，Pancakeswap的24小時DEX數量也已上升至10.3億美元，超過了Uniswap的8.96億美元。但是，每週交易量增加了5％，而Uniswap的下降了39％。

On the technical side, CAKE appears to be recovering from a multi-week low of $1.60. The price is approaching the Bollinger Band midline, while the relative strength index has climbed to 53.95, crossing above the neutral threshold and signaling increasing bullish momentum. A confirmed breakout above $2.05 may push the token toward the next key resistance at $2.50.

在技​​術方面，蛋糕似乎正在從$ 1.60的多周低點中恢復過來。價格正接近布林樂隊中線，而相對強度指數升至53.95，超過中性閾值，信號增加了看漲的動量。超過$ 2.05的確認突破可能將令牌推向下一個鑰匙阻力，價格為2.50美元。