Crypto Lion 📈💯🔥

@THE_BANKRUN @AlemzadehC

🚨PANCAKESWAP IS ABOUT TO REDUCE $CAKE SUPPLY BY MORE THAN $1 BILLION🚨 - Following its suggestion just days ago, @PancakeSwap’s proposal to reduce the total supply of its native $CAKE token is now live. - The proposal suggests reducing the total supply of $CAKE from 750 million tokens, to just 450 million. - This reduction of 300 million $CAKE would equate, at current valuations, to a decrease of ~$1.14 billion worth of #crypto. “Now that CAKE has achieved consistent deflation for several months and is focusing on accelerating our journey to ultrasound CAKE, this proposal aims to reduce the CAKE token’s total supply to a maximum cap of 450M CAKE.” - Though the voting period does not end until tomorrow (Dec 29), current polling sees 95.04% of voting power support the proposal, across more than 336K votes. - Since the vote went live, $CAKE’s price spiked by as much as 13%. But why…? - Perhaps above all, #PancakeSwap hopes the reduction will clarify $CAKE’s transition away from being a “hyperinflationary” token, and move towards becoming “ultrasound”. - However, it also appears that the #DEX underestimated its own success, and the degree of incentive mechanisms it had planned has now become obsolete in light of the platform’s adoption amongst the #DeFi community. - Before voting, PancakeSwap urges the #CryptoCommunity to familiarize itself with elements of its ecosystem such as… $CAKE’s existing tokenomics The full proposal for reducing $CAKE’s supply The monthly $CAKE-burn mechanism Images: PancakeSwap