Cake Tokenomics 3.0将实施新的令牌分配模型

BNB连锁店上最大的分散交易所（DEX）Pancakeswap已正式宣布实施Cake Tokenomics 3.0。这标志着向更具可持续性和缩小的生态系统的重大转变。

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链上领先的分散交易所（DEX）Pancakeswap将为其本地蛋糕令牌引入Soginomics 3.0。这种过渡将使交流朝着更具可持续性，更稳定的生态系统发展。

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.

根据4月11日的公告，PancakesWap将于2025年4月23日开始推出新的Tokenomics模型。主要目标是遏制蛋糕通货膨胀，优化系统效率并为社区带来长期价值。但是，该提案引发了很多辩论。

What Are the Key Changes in CAKE Tokenomics 3.0?

Cake Tokenomics 3.0的主要变化是什么？

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为Tokenomics 3.0设定了三个主要目标：达到4％的年度缩水率，消除了诸如Vecake之类的复杂机制，并减少了蛋糕排放以提高可持续性。

Here are the specific changes:

这是具体的更改：

The new tokenomics will commence on April 23, 2025.

新的象征学将于2025年4月23日开始。

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

从那时起，用户将有六个月的时间撤回以前锁定的蛋糕。

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

新的令牌学模型将着重于减少令牌排放，以促进更可持续的生态系统。

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

目标是达到4％的年度缩水率。

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

此外，PancakesWap计划消除诸如Vecake之类的先进投票和流动性综合体。

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

此举旨在简化系统，同时专注于核心优势。

The Debate Around CAKE 3.0

围绕蛋糕3.0的辩论

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

一些开发商和社区成员认为，这些变化将从长远来看将受益。

“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.

厨师菲利普说：“从本质上讲，蛋糕Tokenomics 3.0捍卫了真正的价值，并通过加强长期基本原理来保护蛋糕持有人，例如积极切割排放以加速放气并可持续增强价值。”

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，并不是每个人都同意。最大的Vecake持有人之一Cakepie Dao对X表示了强烈的关注。他们批评了消除Vecake的决定，称其为非透明的，并且可能对该模型围绕该模型的项目造成损害。

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

这展示了社区中关于pancakeswap如何平衡通缩和利益相关者利益的鸿沟。

“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.

作为回应，PancakesWap提出了一个耗资150万美元的蛋糕代币薪酬包。如果Cakepie同意允许McAke（Cakepie's Cake deivative）换成蛋糕，他们将其提供给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约进行投票。

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

在报告时，Cake的交易约为1.97美元，自4月8日以来，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的数据表明，Pancakeswap的24小时交易量超过了10亿美元，超过了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.

同时，Beincrypto的一份报告表明，PancakesWap控制了BNB链上DEX市场份额的90％以上。这突出了BNB链与煎饼持有的牢固关系。