HOLD THE TOKEN "CAKE"
PancakeSwap community has decided to reduce the maximum supply of CAKE to 450M from 750M. The proposal was passed with a 97.88% majority.
The reason for this move is to signal PancakeSwap's shift away from a hyperinflationary tokenomics model and to advance toward the goal of achieving "ultrasound CAKE". Ultrasound CAKE is a term that refers to a scenario where the price of CAKE naturally rises due to deflationary pressure.
By reducing the maximum supply of CAKE, PancakeSwap is making it more difficult for the price of the token to fall. This is because there will be fewer CAKE tokens available, which will increase demand and drive up the price.
The reduction in the maximum supply of CAKE has also been seen as a positive sign for the PancakeSwap project. It shows that the community is in favor of the project's long-term vision and is willing to support its efforts to become more sustainable and deflationary.
