The price for pancakeswap (CAKE) has risen following the result of the emissions assessment. The CAKE price rose 17 percent in 24 hours. How did the issue vote affect the price of pancakeswap (CAKE)?
Pancakeswap started voting on the issue on March 24th at 12:20 pm. In the vote, which ended on March 26 at 12:20 p.m., a total of 2,043 people voted. The options included an emissions reduction of 20%, an emissions reduction of 10%, and I do not want any change options. At 88.27%, an emission reduction of 20% prevailed.
The Pancakeswap team confirmed the results: “It achieved a 20% result by a wide margin and the transaction will take place on Monday.” said.
Why do you want to reduce emissions?
PancakeSwap is considered a variable token for the inflation rate as there is no offer with fixed rates. Therefore, users may be concerned about inflation.
Pancakeswap is taking several steps to address users’ inflation concerns. One of them is reducing inflation through emissions. The aim is to ensure that a higher amount of CAKE than the amount of CAKE produced is removed from the cycle. This also reduces the pressure on the CAKE price.
May benefit CAKE in the long run
The income users generate from CAKE farms will decrease in the short term due to the lower emissions. In the long term, positive effects on supply / demand are expected.
CAKE according to CoinGecko data; It rose 15 percent on the monthly chart, 18 percent on the two-week chart and 46 percent on the weekly chart. With a market value of $ 2 billion, CAKE ranks 50th with its market value. The daily trading volume of the token is $ 580 million. The current price is $ 14.78.
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