PancakeSwap TVL Jumps 20% in a Week as Vote Opens on Fee Overhaul
Summary
- Cointelegraph reported that PancakeSwap's total value locked (TVL) rose about 19% over the past week.
- The "The Flip" governance proposal, which would raise the share of swap fees distributed to liquidity providers (LPs) in V3 and Infinity pools to 88%, has been put to a vote.
- The governance vote also includes a plan to cut daily CAKE issuance by about 69% to 7,000 tokens from 22,500, and it would take effect next month if approved.
Forecast Trend Report by Period
Total value locked on decentralized exchange PancakeSwap (CAKE) has risen nearly 20% over the past week.
Cointelegraph reported on Oct. 21, citing DefiLlama data, that PancakeSwap's TVL increased about 19% to $2.4 billion from $2.02 billion on Oct. 14. TVL in its V3 liquidity pools more than doubled over the same period, climbing to $739 million from $336 million.
A governance proposal to increase the share of trading fees paid to liquidity providers is also up for a vote. The proposal, called "The Flip," opened for voting on Oct. 21 and would raise the portion of swap fees allocated to LPs in V3 and Infinity pools to 88%. Most pools currently allocate 66% to 68%.
The vote also includes a plan to cut daily CAKE issuance by about 69% to 7,000 tokens from 22,500. The reduction would be phased in.
The governance vote began on Oct. 21 and will run through Oct. 24. If approved, the proposal will take effect next month.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul