pancakeswap（蛋糕）实施Tokenomics 3.0升级，退休验证并引入购买模型

在4月21日发表的博客文章中，Pancakeswap（Cake）团队确认，关键更改将于2025年4月23日上线。

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

Pancakeswap已开始实施其久违的令牌学3.0升级蛋糕令牌。

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

官方的代酮组学3.0的官方整合正在进行中。这是您需要了解的关于变化和重要日期的知识：

Key Milestones:

关键里程碑：

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

🔹退休蛋糕堆放，维卡克，量规投票，收入共享和农场增强

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

🔹Epoch37的投票结果将于4月23日在00:01（GMT+8）全面实施。

🔹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.

🔹六个月的窗口将供用户打开，以在所有锁定蛋糕和Vecake位置解锁后以1：1的比例兑换其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.

该升级旨在减少令牌通货膨胀，鼓励可持续增长并奖励忠实的用户。它将将pancakeswap转换为购买和燃烧的收入共享模型，并将4.5亿个蛋糕的硬帽盖住。

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还将看到每日排放量从29,000蛋糕减少到20,000个蛋糕，最后减少到14,500个蛋糕。这种减少将导致估计每年燃烧530万个蛋糕。

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.

今年早些时候，Pancakeswap揭幕了计划对其令牌经济模式进行大修，关闭其基于Vecake的治理体系并引入新的治理令牌。

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.

重新设计pancakeswap代币学的提议引起了批评，尤其是来自Cakepie Dao，该协议是基于Vecake模型的协议，也是最大的蛋糕持有人之一。 DAO声称，投票中存在违规行为，批准了这些变化，并批评了去中心化的治理特征。

Governance, Decentralization & the veCAKE Paradigm

治理，权力下放和Vecake范式

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.

对于pancakeswap团队来说，特别是对于那些塑造Tokenomics 3.0提案的人来说：这不是反应。这是一个提醒。DEFI不是一个目的地 - 这是一门学科。治理不是负担 - 它是权力的最高负担。修改Pancakeswap的代币经济模式的提议提出了批评，尤其是Cakepie Dao。该协议基于Vecake模型，也是最大的蛋糕持有人之一，声称投票中存在违规行为可以批准更改。他们还批评去中心化的治理特征。

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提议修改系统，而不是完全删除系统。他们的建议包括奖励高性能的游泳池和惩罚早期出口。作为回应，如果Cakepie Dao同意为McAke Holders达成1：1的赎回协议，Pancakeswap已为Cakepie用户提供多达150万美元的蛋糕赔偿。

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.

尽管有反击，蛋糕的市场表现已经显示出恢复的迹象。代币的交易价格为2.01美元，在过去24小时内增长了0.7％，每日销量增加了36％至7860万美元。

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.

根据Defillama的数据，Pancakeswap的24小时DEX数量也已上升至10.3亿美元，超过了Uniswap的8.96亿美元。但是，每周交易量增加了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​​术方面，蛋糕似乎正在从$ 1.60的多周低点中恢复过来。价格正接近布林乐队中线，而相对强度指数升至53.95，超过中性阈值，信号增加了看涨的动量。超过$ 2.05的确认突破可能将令牌推向下一个钥匙阻力，价格为2.50美元。