- The PancakeSwap exchange announced rewards for CAKE steakers.
- The first rewards will be credited to accounts as early as Aug. 9.
- The new revenue sharing pool will help reduce inflation, exchange officials said.
PancakeSwap users will get extra rewards for steaking CAKEs. The popular DEX will share profits from trading commissions, the exchange’s team announced.
In particular, investors will receive 5% of the exchange’s revenue on all PancakeSwap v3 trading pairs with 0.01% and 0.05% commission for using the Fixed Staking service. Contributions will be made weekly on a regular basis.
The new CAKE steakage terms will take effect on August 9, 2023. Cryptocurrency pairs with 0.01% and 0.05% commission account for 80-90% of PancakeSwap v3 trading volume.
“To show our appreciation to all the loyal members of the Fixed-Term CAKE service, we decided to share some of the revenue and add it to the pool. In addition to the annual percentage rate, stakers will be able to count on profits from trading commissions,” the blog said.
According to The Block Data Dashboard, PancakeSwap, which launched in 2020, is the second largest DEX platform after Uniswap in terms of trading volume and market share, according to data from The Block Data Dashboard. At first, it only worked with BNB, but it has since added support for other blockchains like Ethereum, Aptos, Polygon zkEVM.
The company’s blog says the new revenue sharing pool is a sustainable model based on real returns and platform growth. It extends the benefits of CAKE ownership and serves as a tool to mitigate inflation.In April, PancakeSwap announced its plans to lower its token issuance ratio and reduce inflation from 20% to 3-5%.
PancakeSwap said it plans to reduce its token issuance rate and cut inflation from 20% to 3-5%.