{"id":20339,"date":"2023-04-28T08:30:45","date_gmt":"2023-04-28T08:30:45","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/cake-down-21-as-pancakeswap-mulls-slashing-staking-rewards\/"},"modified":"2023-04-28T08:30:45","modified_gmt":"2023-04-28T08:30:45","slug":"cake-down-21-as-pancakeswap-mulls-slashing-staking-rewards","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/cake-down-21-as-pancakeswap-mulls-slashing-staking-rewards\/","title":{"rendered":"CAKE down 21% as PancakeSwap mulls slashing staking rewards"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/1682601162938-b023a722-a408-4c9c-b608-20046dd2ce6d-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/1682601162938-b023a722-a408-4c9c-b608-20046dd2ce6d-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/1682601162938-b023a722-a408-4c9c-b608-20046dd2ce6d-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/1682601162938-b023a722-a408-4c9c-b608-20046dd2ce6d-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>PancakeSwap is a decentralized exchange (DEX) built on the BNB Chain.<\/li>\n<li>PancakeSwap (CAKE) has dropped by 21% over the last seven days.<\/li>\n<li>The DEX\u2019s core team introduced a proposal to reduce the token\u2019s inflation rate to 3-5%.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/coinjournal.net\/pancakeswap\/\">PancakeSwap\u2019s native token, CAKE,<\/a> has declined by about 21% in the last seven days and 27% in the last 14 days despite PancakeSwap\u2019s core team introducing a proposal to reduce the token\u2019s inflation rate to 3-5% from the current rates above 20%.<\/p>\n<p>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.<\/p>\n<p>At press time, CAKE was trading at $2.66, up 1.6% over the last 24 hours.<\/p>\n<h2>Reducing PancakeSwap token inflation rate<\/h2>\n<p>PancakeSwap recently forked Uniswap V3\u2019s code and launched its version on Aptos and <a href=\"https:\/\/coinjournal.net\/ethereum\/what-is-ethereum\/\">Ethereum<\/a>. The project\u2019s core team has also introduced a proposal to reduce the native token\u2019s inflation rate to 3-5% from the current rates above 20%.<\/p>\n<p>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.<\/p>\n<p>But why should the team suggest a proposal that is detrimental to the project\u2019s ecosystem? Well, the proposal reads:<\/p>\n<p><em>\u201cCurrent inflation rates are unsustainable for CAKE over the long term, and reductions are required for the long-term health of PancakeSwap.\u201d<\/em><\/p>\n<p><a href=\"https:\/\/pancakeswap.finance\/voting\/proposal\/0x707643dd2c2b941c7274f26a0362922198912e8549050ae9f2d1d9d71ada04bb\">Voting on the proposal<\/a> 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.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/cake-down-21-as-pancakeswap-mulls-slashing-staking-rewards\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) PancakeSwap is a decentralized exchange (DEX) built on the BNB Chain. PancakeSwap (CAKE) has dropped by 21% over the last seven days. The DEX\u2019s core team introduced a proposal to reduce the token\u2019s inflation rate to 3-5%. PancakeSwap\u2019s native token, CAKE, has declined [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":20340,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/20339"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=20339"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/20339\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/20340"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=20339"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=20339"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=20339"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}