A new offer has been made for this Binance-listed Altcoin, and its price has already increased!
Popular decentralized exchange PancakeSwap has made a proposal to reduce the supply of cakes.
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According to the announcement, the team stated that the 300 million token supply reduction offer will last for 24 hours and will take effect on January 4, 2024, if the offer is approved.
The developers say the new product will better align the pie with existing tokens in circulation, saying:
"Pancake swap Fam, this is a moment!
Proposal to reduce the maximum supply of cakes from 750 million to 450 million!
By reducing the token supply of 300,000,000 cakes, we mark PancakeSwap’s successful transition from the hyperinflation emission model to the ultrasonic cake era.
Now that CAKE has been shrinking for several months and CAKE is focused on accelerating its ultrasound journey, the proposal aims to reduce the total supply of CAKE tokens. "
After the news was announced, cake prices rose by 7%.
