您现在的位置是:CAKE down 21% as PancakeSwap mulls slashing staking rewards >>正文
CAKE down 21% as PancakeSwap mulls slashing staking rewards
上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛6人已围观
简介PancakeSwap is a decentralized exchange (DEX) built on the BNB Chain.PancakeSwap (CAKE) has dropped ...
- PancakeSwap is a decentralized exchange (DEX) built on the BNB Chain.
- PancakeSwap (CAKE) has dropped by 21% over the last seven days.
- The DEX’s core team introduced a proposal to reduce the token’s inflation rate to 3-5%.
PancakeSwap’s native token, CAKE, has declined by about 21% in the last seven days and 27% in the last 14 days despite PancakeSwap’s core team introducing a proposal to reduce the token’s inflation rate to 3-5% from the current rates above 20%.
While the crypto market suffered from the recent bear market across the board, the CAKE token was expected to ride on the proposed inflation-reducing proposal rather than drop. On the contrary, the token has been dropping as stakers move out in numbers.
At press time, CAKE was trading at $2.66, up 1.6% over the last 24 hours.
Reducing PancakeSwap token inflation rate
PancakeSwap recently forked Uniswap V3’s code and launched its version on Aptos and Ethereum. The project’s core team has also introduced a proposal to reduce the native token’s inflation rate to 3-5% from the current rates above 20%.
If the proposal is passed, it will see the amount of tokens that stakers earn lowered something that could be the reason behind the recent exodus of stakers from PancakeSwap.
But why should the team suggest a proposal that is detrimental to the project’s ecosystem? Well, the proposal reads:
“Current inflation rates are unsustainable for CAKE over the long term, and reductions are required for the long-term health of PancakeSwap.”
Voting on the proposal already began on April 26 and it is scheduled to end today April 28. So far, the numbers show that the community is in support of the aggressive proposal. 55.43% have voted for the proposal compared to only 8.10% who have voted against the proposal although the voting process is still open.
Tags:
转载:欢迎各位朋友分享到网络,但转载请说明文章出处“上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛”。http://www.jz08.com.cn/news/33176.html
相关文章
August Set For Strong XRP Rally Says PrimeXBT Analyst Kim Chua
CAKE down 21% as PancakeSwap mulls slashing staking rewardsXRP, once comfortably the third biggest cryptocurrency by market cap, has had a bit of a rough time...
阅读更多
Where to buy FNK
CAKE down 21% as PancakeSwap mulls slashing staking rewardsFNK has seen a price rise of over 320% in the last seven days alone as buyers have swooped in.FNK is...
阅读更多
UK scientists awarded $4.5 million to attach lasers to CubeSats
CAKE down 21% as PancakeSwap mulls slashing staking rewardsBy subscribing, you agree to our Terms of Use and Policies You may unsubscribe at any time.A team at...
阅读更多
热门文章
- Say goodbye to your cat scaring you with this AI cat
- Where to Buy Cryptocurrency
- Scientists unveil reactor that degrades methane 100 million times faster
- Crypto market participation continues to dip
- 2024 will see Samsung lead the mobile AI wave with the new Galaxy S24
- Augur Turbo Integrates Chainlink Oracles
最新文章
Bitcoin volatility at three
First ever bull semen modified to produce cows that burp less methane
Maker (MKR) price soars amid South Korea expansion push
Skilled jobs to be most impacted by AI ‘revolution,’ reveals OECD report
Huobi announces plans to list PayPal’s PYUSD stablecoin
Where to Buy ETH — More Potential Than BTC?