Dear PancakeSwap Community,

As part of our ongoing efforts to streamline our offerings and focus on more sustainable and impactful products for our users, we want to inform you that the Position Managers integrated on PancakeSwap—**Bril, Defiedge, Teahouse, Range, and Alpaca**—will be officially **retired from the **[PancakeSwap interface](https://pancakeswap.finance/position-managers)** at 08:00 UTC on June 21st, 2025**.

## **What does this mean for you?**

The retirement of these Position Managers will impact users who currently have liquidity deposited in the Position Managers' respective vaults via the **[PancakeSwap interface](https://pancakeswap.finance/position-managers)**. Please review the following carefully:

## **1. Position Managers Deposits Will Be Disabled – Effective May 21st, 2025**

- Starting **08:00 UTC on May 21st, 2025**, all deposits into Position Manager vaults (Bril, Defiedge, Teahouse, Range, and Alpaca) via the **[PancakeSwap interface](https://pancakeswap.finance/position-managers)** will be **permanently disabled**.
- After this date, **you will no longer be able to deposit any new assets** into these position managers' vaults through the **[PancakeSwap interface](https://pancakeswap.finance/position-managers)**

## **2. Position Managers Withdrawals Required – Before June 21st, 2025**

You must withdraw your deposits from all Position Manager vaults you deposited via the  **[PancakeSwap interface](https://pancakeswap.finance/position-managers)** before 08:00 UTC on June 21st, 2025, to avoid potential issues.

### **Defiedge, Teahouse, and Range**

- If you have active deposits in any of these position managers’ vaults via the **[PancakeSwap interface](https://pancakeswap.finance/position-managers)** you must withdraw your deposits before **08:00 UTC on June 21st, 2025.**
- After this date, all your positions will **automatically be placed in a wide range** and **will no longer be actively managed**, increasing your exposure to **impermanent loss**.
- To avoid unnecessary risk, we **strongly recommend withdrawing your deposits as soon as possible**.

### **Alpaca**

- Similarly, if you have deposits in any **Alpaca vaults** via the **[PancakeSwap interface](https://pancakeswap.finance/position-managers)**, you **must complete your withdrawals before June 21st, 2025**.
- **By late May 2025**, these positions will begin to transition into **wide-range, unmanaged states**, again increasing the risk of impermanent loss.
- We urge you to **withdraw by the end of May** to ensure a smooth transition and avoid complications.

### **Bril**

- If you have deposits in any **Bril** vaults via the **[PancakeSwap interface](https://pancakeswap.finance/position-managers)**, you **must complete your withdrawals before June 21st, 2025**.
- Bril will continue to actively manage vault positions after this date. However, to avoid potential risks or unexpected changes, we recommend withdrawing your deposits before **June 21st, 2025**.

### **3. Complete Removal of Position Manager Feature**

- **Any deposits remaining** in Bril, Defiedge, Teahouse, Range, or Alpaca Position Manager vaults via the PancakeSwap interface after 08:00 UTC on June 21st, 2025 will no longer be accessible via the **[PancakeSwap interface](https://pancakeswap.finance/position-managers)**. To protect your assets, please make sure to **withdraw before the deadline**.
- After **June 21st, 2025**, the Position Manager feature will be fully removed from the **[PancakeSwap interface](https://pancakeswap.finance/position-managers)**
- This means **you will no longer be able to access or interact with any Position Managers** (Bril, Defiedge, Teahouse, Range, Alpaca) via **[PancakeSwap interface](https://pancakeswap.finance/position-managers)** in any capacity.

### **Why are we retiring these Position Managers?**

This decision is part of our ongoing mission to streamline our product offerings. As we continue to evolve and optimize, we remain committed to delivering the best possible tools and products to our users.

Thank you for being a valued part of PancakeSwap. We truly appreciate your understanding as we continue to innovate and improve your user experience.

The Chef’s

Retirement of Position Managers – Bril, Defiedge, Teahouse, Range, and Alpaca

Action Required: Retirement of Position Managers - Bril, Defiedge, Teahouse, Range, and Alpaca

PancakeSwap Infinity is **[now live](https://blog.pancakeswap.finance/articles/pancake-swap-infinity-is-now-live-formerly-pancake-swap-v4)**—and it’s packed with powerful new tools to help traders and liquidity providers get more out of DeFi. One of the most significant upgrades is **[Hooks](https://docs.pancakeswap.finance/trade/pancakeswap-infinity/hooks)**.

#### **So, what are Hooks?**

Hooks are like add-ons or plugins. They’re special smart contracts that let developers build extra features into liquidity pools, such as smarter fees, trading discounts, and loyalty rewards.

To kick things off, we’ve launched three Hooks, created by PancakeSwap and our partner Brevis. These Hooks are already live and ready to use!

#### **The 3 Hooks You Can Use Right Now**

1\. **[Dynamic Fee Hook](https://docs.pancakeswap.finance/trade/pancakeswap-infinity/hooks/dynamic-fee-hook)** (by PancakeSwap)

This Hook automatically adjusts trading fees based on how the market is moving. When the market is stable, fees stay low to make trading smoother. But when there’s high volatility, fees go up, penalizing arbitrage traders and helping protect liquidity providers (LPs).

**Why it’s great:** LPs can earn more during busy, high-risk times, while everyday traders enjoy fairer fees when markets are calm.

**Liquidity Pairs Supported:**

- **[BNB-BTCB (CLAMM, 0.05% fee tier)](https://pancakeswap.finance/liquidity/pool/bsc/0xc61b01840ee1390604e3bcb1ada82c192637eb83e68e69c469424549b97db57a)**
- **[BNB-CAKE (CLAMM, 0.05% fee tier)](https://pancakeswap.finance/liquidity/pool/bsc/0x737a7d974a19bafb34c8d74d898188c9b59689b91f291fa6ade69f71fa0f5afa)**
- **[CAKE-USDT (CLAMM, 0.05% fee tier)](https://pancakeswap.finance/liquidity/pool/bsc/0xaf12088595c0d5615f1e9da6033a435705d60037c2a4230dd5e135aab9dcfeb5)**
- **[BNB-ETH (CLAMM, 0.05% fee tier)](https://pancakeswap.finance/liquidity/pool/bsc/0x51946ed6c67cceb999d049f2efec643c7d98e5b83aaaf0f6a77fdac1b0ca3880)**
- **[BNB-USDT (CLAMM, 0.05% fee tier)](https://pancakeswap.finance/liquidity/pool/bsc/0x1b13f21c2ec35d30eed8b443c08e5b9db3ae311365a675a5aea5bc44fc27d808)**
- **[BNB-USDC (CLAMM, 0.05% fee tier)](https://pancakeswap.finance/liquidity/pool/bsc/0xc38e00461a5649e222d41b000698dc8eee20eb8cd7f7efb5bd59115af25f56be)**


2\. **VIP Discount Hook (by Brevis)**

The more you trade, the less you pay. This Hook gives discounts to high-volume traders based on their trading volume. Read more about the discounted fee tier and volume here (brevis blog link)

**Why it’s great:** High-volume traders benefit from fee discounts on PancakeSwap, increasing the liquidity providers’ APR.

**Liquidity Pairs Supported:**

- **[USDT-USDC (CLAMM, 0.01% fee tier)](http://pancakeswap.finance/liquidity/pool/bsc/0x3C2C41B2711BF990822E25135EAB4EFFE9BD33C8D016FD19DC131D7C9E2A432D)**
- **[ETH-USDT (CLAMM, 0.05% fee tier)](http://pancakeswap.finance/liquidity/pool/bsc/0xEE2B3272CEBB007EDE79E851A7DE89B07551E20F676F6283C34EB2ECAECD629E)**


3\. **Token Holding Fee Discount Hook (by Brevis)**

You get lower trading fees if you hold specific tokens for a while. At launch, CAKE holders can enjoy discounted trading fees based on their average CAKE balance. Read more about holding and discount (Brevis Blog link)

**Why it’s great:** It rewards loyal users and encourages long-term token-holding.

**Liquidity Pairs Supported:**

- **[CAKE-USDT (CLAMM, 0.25% fee tier)](http://pancakeswap.finance/liquidity/pool/bsc/0x47516855520496B84A169F7BB92ACE7FFB6E8C535BCCB52A308CCFF113AECCFB)**
- **[BNB-USDT (LBAMM, 0.05% fee tier)](http://pancakeswap.finance/liquidity/pool/bsc/0xfe667c7c01a2db5d30fe3c6411feaaadd05c10768319d112a84f20c1d207a6ae)**
- **[BTCB-BNB (CLAMM, 0.05% fee tier)](http://pancakeswap.finance/liquidity/pool/bsc/0x0F7DDAD79DF9A2718B5F7BC17EBC98CC755C0F676983CA8A6A7D2DAD40717C79)**
- **[CAKE-BNB (CLAMM, 0.25% fee tier)](http://pancakeswap.finance/liquidity/pool/bsc/0x54C27041DFA246727D9351613EB35DA028DDF377225D8DB9E68CA3B569B5BA24)**

All of these Hooks are available now on the **[Pools page](https://pancakeswap.finance/liquidity/pools?type=1)**. Liquidity providers can choose to supply liquidity in these specific pools and benefit from each Hook's unique features.

Feel free to explore and start customizing your trading and LP experience today. DeFi's future is modular and flexible, and it starts now.




















PancakeSwap Infinity is now live—and it’s packed with powerful new tools to help traders and liquidity providers get more out of DeFi.

Say Hello to Hooks on PancakeSwap Infinity

GM Fam,

We’re excited to announce the launch of **[PancakeSwap Bridge](https://pancakeswap.finance/bridge)**, a significant update that makes moving assets between chains faster and easier. Powered by BNB Chain, this new feature boosts speed, security, and simplicity, so you can transfer your tokens seamlessly across different chains.

#### **Why You’ll Love the PancakeSwap Bridge Powered by BNB Chain**

**1\. Cross-Chain Transfers Across 8 chains with 3700+ Tokens**

Easily transfer assets between 8 major chains, including Ethereum, BNB Chain, Base, Linea, opBNB, Arbitrum One, zkSync Era, and Polygon zkEVM. Wherever PancakeSwap DEX is available, you can use our bridge to transfer your tokens across these chains, making swaps faster and more seamless!

**2\. Smart Routing Powered by Leading Bridge Providers**

The PancakeSwap Bridge benefits from BNB Chain’s partnerships with multiple top-tier cross-chain bridge providers, such as Celer, LayerZero, deBridge, Meson, and Stargate. This integration allows your transactions to be routed through the best and fastest options available, ensuring that your asset transfers are always optimized for speed, security, and reliability.

![Screenshot 2024-12-16 at 13.36.55.png](https://sgp1.digitaloceanspaces.com/strapi.space/e491ce7d2f76206ceee3552e44b55c46.png)

**3\. Simple and Intuitive to Use**

Using the bridge is easy! The clean, user-friendly interface lets you transfer assets across 8 chains without hassle. Everything you need is right in one place—there’s no need to visit other websites or external interfaces.

![Screenshot 2024-12-16 at 13.35.47.png](https://sgp1.digitaloceanspaces.com/strapi.space/8c66d6b47109c64abe3e061020fad26e.png)

**4\. Powered by BNB Chain’s Cross-Chain Technology**

At the core of the PancakeSwap Bridge is BNB Chain’s Cross-Chain Bridge technology, which is fast, secure, and scalable. This ensures smooth and efficient transfers. Note: BNB Chain, the developer of this product, powers this bridge. Please do your research, understand the risks, and be cautious when using cross-chain services.


#### **How to Get Started?**

Ready to start using the bridge? Just visit the **[PancakeSwap Bridge](https://pancakeswap.finance/bridge)**, select your tokens, and follow the easy steps to transfer them across chains.

We’re excited for you to try out the PancakeSwap Bridge powered by BNB Chain! Please share your thoughts with us in the comments or on social media—we’d love your feedback.

Let’s start bridging!




GM Fam, We’re excited to announce the launch of PancakeSwap Bridge, a significant update that makes moving assets between chains faster and easier.

Introducing PancakeSwap Bridge: Fast, Secure Cross-Chain Transfers Across 8 Chains with 3700+ Tokens, Powered by BNB Chain

We’re excited to launch the **[PancakeSwap Swap Bot](https://t.me/pancakefi_bot)** on Telegram, building on the success of our Prediction Bot! Starting today, you can trade over 3,000 tokens on the BNB Chain via PancakeSwap, including access to v2, v3, and Stableswap pools—all directly within Telegram. No more juggling between apps or websites—just seamless trading through your favorite messaging app. Get started today and experience easy trading within a familiar interface. Read on to learn more!

### **Why Trade with the PancakeSwap Swap Bot?**

**1\. Ultimate Convenience:** Trade directly from Telegram, so you never have to leave the app to access PancakeSwap.

**2\. Vast Token Selection:** Trade from over 3,000 tokens on the BNB Chain across PancakeSwap v2, v3, and Stableswap—anytime, anywhere.

**3\. Low Fees:** Enjoy a competitive trading fee of as low as 0.01% on trades.

**4\. Instant Notifications:** Receive real-time updates on your transactions right within the bot.

#### **How to Get Started:**

1\. Open Telegram and access the PancakeSwap Swap Bot  https://t.me/pancakefi_bot

2\. Connect your wallet. Check out **[this wallet connect guide](https://docs.pancakeswap.finance/products/prediction/prediction-mini-app)** for assistance. 

3\. Enter the token and amount to swap. That's it, it's that easy.


_**Please note that at the initial launch, the Prediction Telegram app won't be available in the Telegram app store. Instead, users can access the product through a direct web link and interact with the Telegram bot. This means you'll need to use the provided link or bot to get started with the prediction features.**_

Join the PancakeSwap Swap Telegram Bot to trade effortlessly. Ready to dive in? **[Start trading now!](https://t.me/pancakefi_bot)**

### **PancakeSwap Telegram Bot Directory**

- **[PancakeSwap Launches Swap Bot on Telegram: Trade Over 3,000 Tokens on BNB Chain](https://blog.pancakeswap.finance/articles/pancake-swap-launches-swap-bot-on-telegram-trade-over-3-000-tokens-on-bnb-chain)**
- **[How to Swap on the PancakeSwap Swap Bot](https://blog.pancakeswap.finance/articles/how-to-swap-on-the-pancakeswap-swap-bot)**
- **[Why Telegram Bots Are Trending: Discover PancakeSwap's Prediction and Swap Bot](https://blog.pancakeswap.finance/articles/why-telegram-bots-are-trending-discover-pancakeswap-prediction-and-swap-bot)**



We’re excited to launch the PancakeSwap Swap Bot on Telegram, building on the success of our Prediction Bot!

PancakeSwap Launches Swap Bot on Telegram: Trade Over 3,000 Tokens on BNB Chain

In our March 2024 report, we explore the world of CAKE token supply management on PancakeSwap. Learn how PancakeSwap reduces the total supply of CAKE through strategic burns and the pursuit of ultrasound CAKE.

### **CAKE Total Supply Reduction:**
As of  April 2nd, 2024, PancakeSwap has successfully burned 0.189% of the CAKE total supply for March 2024. To calculate this percentage, we divided the total net mint of -731,042 CAKE by the initial total CAKE supply on March 4th, 2024. This marks the seventh consecutive month of CAKE total supply reduction, with a cumulative -2,103,059 CAKE net mint over September, October, November, December 2023, January, February, and March 2024. 

### **Achieving CAKE Total Supply Reduction through Net Minting:**
In April 2024, PancakeSwap achieved a net mint of -731,042. This negative net mint indicates that more CAKE tokens were burned than minted during the month.

### **March Mint Breakdown**
- Farms: 816,702
- CAKE Syrup Pool: 117,600
- Other Product Usage: 123,962
- Total March Mint: 1,058,264

_Please note that we have excluded CAKE mints that directly contribute to burning, calculating the mint based on raw CAKE/block emission (including emission changes over the months) for a precise monthly mint estimate._

### **March Burn Categories**
- Swaps and Perpetual Trading Fees: 1,470,456
- Prediction: 190,134
- Pancake Protectors: 5,296
- Lottery, NFT Market, Profile & Factory: 123,420
- Total March Burn: 1,789,306

_Note: To ensure accuracy, we pro-rate weekly CAKE burns over two months. For example, burns occurring at the end of March and stretching into April receive a proportionate allocation between the two months._

### **Proof of Burn for March:**
- March 6: **[Link](https://bscscan.com/tx/0xddfc376c4cf0b13d02cc5feaaebbe084be4529a9c5db69be09777369dc312681)**
- March 11: **[Link](https://bscscan.com/tx/0xdf7c1def8b6f00e7a9c31e381fc045f82a4d53172f132c6e9098806293613abf)**
- March 18: **[Link](https://bscscan.com/tx/0xa5861c373be4ae42126094baea795553fb3c96994d8ca69ee2f650fb47124ac4)**
- March 25: **[Link](https://bscscan.com/tx/0x36d7c2768daca14123ac8d00882ff69ad826340557adbd1ab8f1fa2e3f6daad4)**
- April 2: **[Link](https://bscscan.com/tx/0xa486253829e13db5851890a04fd1bef6583b4092ff13d8e572bbd715deeb78a9)**

In our March 2024 report, we explore the world of CAKE token supply management on PancakeSwap.

March 2024: PancakeSwap's CAKE Burn

In our January 2024 report, we dive into the CAKE token supply management world on PancakeSwap. Learn how PancakeSwap reduces the CAKE total supply through strategic burns and pursuit ultrasound CAKE.

## **CAKE Total Supply Reduction:**
As of February 6th, 2024, PancakeSwap has successfully burned 0.046% of the CAKE total supply for January 2024. To calculate this percentage, we divided the total net mint of -178,547 CAKE by the initial total CAKE supply on December 26th, 2023. This marks the fifth consecutive months of CAKE total supply reduction, with a cumulative -1,276,994 CAKE net mint over September, October, November, December 2023, and January 2024.

## **Achieving CAKE Total Supply Reduction through Net Minting:**
In January 2024, PancakeSwap achieved a net mint of -178,547. This negative net mint indicates that more CAKE tokens were burned than minted during the month.

## **January Mint Breakdown**
- Farms:  745,393 CAKE
- CAKE Syrup Pool: 194,848
- Other Product Usage: 123,962
- Total January Mint: 1,064,202

_Please note that we have excluded CAKE mints that directly contribute to burning, calculating the mint based on raw CAKE/block emission (including emission changes over the months) for a precise monthly mint estimate._

## **January Burn Categories**
- Swaps and Perpetual Trading Fees: 904,238 CAKE
- Prediction: 167,781 CAKE
- Pancake Protectors: 9,863 CAKE
- Lottery, NFT Market, Profile & Factory: 134,119 CAKE
- IFO 26,748
- Total January Burn: 1,242,749 CAKE

_Note: We pro-rate weekly CAKE burns over two months to ensure accuracy. For example, burns occurring at the end of January and stretching into February receive a proportionate allocation between the two months._

## **Proof of Burn for January:**
- January 2: [**Link**](https://bscscan.com/tx/0x7e8b23ae360ac16468e44c541a96019a3f889c62821aed320b6dace68120d81e)
- January 8: [**Link**](https://bscscan.com/tx/0xdddb22d7af19a36fa92342a9bc5c2bf82a6e3b8a843abcfbd45ac261c5e7ebb8)
- January 15: [**Link**](https://bscscan.com/tx/0xed61d7cddf0560cc2be18d5c4572deac65c9372b6d4178adfea31be81020f047)
- January 22: [**Link**](https://bscscan.com/tx/0xd70d3e0f6055ad819b636cfac0995e89cf60deac890e8fe3caa9c3b3104c3258)
- January 29: [**Link**](https://bscscan.com/tx/0x8258158d524efa270ac40b2eb55dd21f5eeb27816a0f6dd7d680d1e99d3b54d2)
- February 6: [**Link**](https://bscscan.com/tx/0x2ec68688cd22c67b29ea27bad41a4b1acfcc255d83bc35cb3dc1cfdf021e0f11)

In our January 2024 report, we dive into the CAKE token supply management world on PancakeSwap

January 2024: PancakeSwap's CAKE Burn

Dear PancakeSwap Community,

We are excited to share a pivotal moment in the evolution of PancakeSwap's tokenomics. Over the past year, PancakeSwap has been on a transformative journey, refining its strategies and strengthening its position in the decentralized finance (DeFi) space. Today, we are pleased to announce a crucial adjustment to the CAKE token's maximum supply, reducing it from 750 million to 450 million CAKE.

## **Background and Evolution:**
![kGk5kri (2).jpg](https://sgp1.digitaloceanspaces.com/strapi.space/cd77b3feb5a8a5602dd68431d27b59a4.jpg)

PancakeSwap has substantially enhanced its tokenomics, emissions, and overall growth strategy. The introduction of **[CAKE Tokenomics v2.5](https://pancakeswap.finance/voting/proposal/0x707643dd2c2b941c7274f26a0362922198912e8549050ae9f2d1d9d71ada04bb)* have collectively laid the foundation for sustained growth across all our deployments. 

![2024-01-04 14.46.26.jpg](https://sgp1.digitaloceanspaces.com/strapi.space/bcacb74fd03719dae7a1e88c5420dad3.jpg)
After achieving consistent deflation in recent months, our latest strategic move is to reduce the CAKE token's total supply to a maximum cap of 450 million CAKE, aligning with our vision for a robust, deflationary model.

## **Rationale for Adjustment:**

1\. **Certainty for the Community:** After nearly three years of development, we now have more accurate estimations of incentives required to achieve our growth targets, providing certainty regarding future CAKE token supply.

2\. **Accelerating Ultrasound CAKE:** Lowering the total supply is crucial in achieving ultrasound CAKE, signaling PancakeSwap's departure from a hyperinflationary tokenomics model.

3\. **Flexibility for Growth:** A new cap of 450 million CAKE ensures sufficient supply for future growth, including market share expansion on Ethereum, Ethereum L2s, and initiatives like position managers.

## **Community Support and Governance:**
Before the official proposal, we initiated a **[forum discussion](https://forum.pancakeswap.finance/t/discussion-for-proposal-to-reduce-cake-token-total-supply/100/16)**, gauging the sentiment of our vibrant community, and the response was overwhelmingly positive. This strong support paved the way for the **[official proposal](https://pancakeswap.finance/voting/proposal/0x3e014aab40f6551da9f76da0e62e44e9ece55c4997f220057bf3e42dc8307c2f)**, with more than 97% voting in favor of the reduction, leading to the successful implementation of the new CAKE total supply.

## **Final Adjustment Details:**
- Previous Total Supply: 750,000,000 CAKE
- Current Total Supply: 450,000,000 CAKE
- CAKE Total Supply Decrease: -300,000,000 CAKE

We invite you to delve into our most recent **[Monthly CAKE Burn Report](https://blog.pancakeswap.finance/articles/december-2023-pancake-swap-s-cake-burn)** and explore the comprehensive CAKE **[Tokenomics documentation](https://docs.pancakeswap.finance/tokenomics/cake/cake-tokenomics)**.

Thank you for being an integral part of PancakeSwap's journey. Together, we’re continuing to build a robust and innovative DeFi ecosystem.

Stack’em

The Chefs

We are excited to share a pivotal moment in the evolution of PancakeSwap's tokenomics.

PancakeSwap Reduces CAKE Maximum Supply to 450 Million, Charting a Course for Deflationary Success

In our December 2023 report, we dive into the CAKE token supply management world on PancakeSwap. Learn how PancakeSwap reduces the CAKE total supply through strategic burns and pursuit ultrasound CAKE.

## **CAKE Total Supply Reduction:**
As of January 4th, 2023, PancakeSwap has successfully burned 0.100% of the CAKE total supply for December 2023. To calculate this percentage, we divided the total net mint of -385,780 CAKE by the initial total CAKE supply on November 30th, 2023. This marks the four consecutive months of CAKE total supply reduction, with a cumulative -1,098,447 CAKE net mint over September, October, November, and December 2023.

## **Achieving CAKE Total Supply Reduction through Net Minting:**
In December 2023, PancakeSwap achieved a net mint of -385,780 CAKE. This negative net mint indicates that more CAKE tokens were burned than minted during the month.

## **December Mint Breakdown**
- Farms: 656,993 CAKE
- CAKE Syrup Pool: 280,110 CAKE
- Other Product Usage: 123,962 CAKE
- Total December Mint:  1,061,065 CAKE

_Please note that we have excluded CAKE mints that directly contribute to burning, calculating the mint based on raw CAKE/block emission (including emission changes over the months) for a precise monthly mint estimate._

## **December Burn Categories**
- Swaps and Perpetual Trading Fees: 1,126,494 CAKE
- Prediction:172,082 CAKE
- Pancake Protectors: 17,301 CAKE
- Lottery, NFT Market, Profile & Factory: 130,968 CAKE
- Total December Burn: 1,446,845 CAKE

_Note: We pro-rate weekly CAKE burns over two months to ensure accuracy. For example, burns occurring at the end of November and stretching into December receive a proportionate allocation between the two months._

## **Proof of Burn for December:**
- December 11: **[Link](https://bscscan.com/tx/0xc2dc65da378097490b1108b6425e94217db175c8968a31d99e46a8307b2af5ce)**
- December 18: **[Link](https://bscscan.com/tx/0xb3109fba01b72f81b56411c3073cf38293acff776b900c7355dd9a6a4645e139)**
- December 26: **[Link](https://bscscan.com/tx/0xb64c7a4df9cff387746bc90507f26cdda6553e259665e8bf8aeef38a9c986dbc)**
- January 2: **[Link](https://bscscan.com/tx/0x7e8b23ae360ac16468e44c541a96019a3f889c62821aed320b6dace68120d81e)**

In our December 2023 report, we dive into the CAKE token supply management world on PancakeSwap. 

 December 2023: PancakeSwap's CAKE Burn

In our November 2023 report, we dive into the CAKE token supply management world on PancakeSwap. Learn how PancakeSwap reduces the CAKE total supply through strategic burns and pursuit ultrasound CAKE.

## **CAKE Total Supply Reduction:**
As of December 5th, 2023, PancakeSwap has successfully burned 0.089% of the CAKE total supply for November 2023. To calculate this percentage, we divided the total net mint of -351,962 CAKE by the initial total CAKE supply on October 30th, 2023. This marks the third consecutive month of CAKE total supply reduction, with a cumulative -712,667 CAKE net mint over September, October, and November 2023.

## **Achieving CAKE Total Supply Reduction through Net Minting:**
In November 2023, PancakeSwap achieved a net mint of -351,962 CAKE. This negative net mint indicates that more CAKE tokens were burned than minted during the month.

## **November Mint Breakdown**
- Farms: 661,328 CAKE
- CAKE Syrup Pool: 302,349 CAKE
- Other Product Usage: 119,980 CAKE
- Total November Mint:  1,083,657 CAKE

Please note that we have excluded CAKE mints that directly contribute to burning, calculating the mint based on raw CAKE/block emission (including emission changes over the months) for a precise monthly mint estimate.

## **November Burn Categories**
- Swaps and Perpetual Trading Fees: 1,070,411 CAKE
- Prediction: 201,170 CAKE
- Pancake Protectors: 33,179 CAKE
- Lottery, NFT Market, Profile & Factory: 130,859 CAKE
- Total November Burn: 1,435,619 CAKE

Note: We pro-rate weekly CAKE burns over two months to ensure accuracy. For example, burns occurring at the end of October and stretching into November receive a proportionate allocation between the two months.

## **Proof of Burn for November:**
- November 7: **[Link](https://bscscan.com/tx/0xc68207b9bf6ef58cb4d73e5b95bb4c0468b9897f4721cf5637f6c98bbff97f96)**
- November 13: **[Link](https://bscscan.com/tx/0xfcb72ad067760377ffe03f06f2a718a4350892ab942bfa663b96f9c807bae105)**
- November 20: **[Link](https://bscscan.com/tx/0x641429254be9f521e7a69ffed8da932aa07705013f5a7f95908835436719ea58)**
- November 27: **[Link](https://bscscan.com/tx/0x5d8d4a1eb566cdf3147c99c7fba0210d974d4b9580005837a574b11ef5f7f489)**
- December 4: **[Link](https://bscscan.com/tx/0xc5460ffb7c5797367bf5cb40b203497c0bc205e19f7202bdf561db9a12eaea50)**

In our November 2023 report, we dive into the CAKE token supply management world on PancakeSwap. 

November 2023: PancakeSwap's CAKE Burn

In our October 2023 report, we dive into the world of CAKE token supply management on PancakeSwap. Learn how PancakeSwap reduces the CAKE total supply through strategic burns and pursuit ultrasound CAKE.

## **CAKE Total Supply Reduction:**
As of November 7th, 2023, PancakeSwap has successfully burned 0.086% of the CAKE total supply for October 2023. To calculate this percentage, we divided the total net mint of -337,087 CAKE by the initial total CAKE supply on October 2nd, 2023. This marks the second consecutive month of CAKE total supply reduction, with a cumulative -360,705 CAKE net mint over September and October 2023.

## **Achieving CAKE Total Supply Reduction through Net Minting:**
In October 2023, PancakeSwap achieved a net mint of -337,087 CAKE. This negative net mint indicates that more CAKE tokens were burned than minted during the month.

## **October Mint Breakdown:**
- Farms: 872,031 CAKE
- CAKE Syrup Pool: 424,798 CAKE
- Other Product Usage: 123,999 CAKE
- Total October Mint:  1,420,829 CAKE

Please note that we have excluded CAKE mints that directly contribute to burning, calculating the mint based on raw CAKE/block emission (including emission changes over the months) for a precise monthly mint estimate.

## **October Burn Categories:**
- Swaps and Perpetual Trading Fees: 1,241,847 CAKE
- Prediction: 302,731 CAKE
- Pancake Protectors: 60,740 CAKE
- Lottery, NFT Market, Profile & Factory: 152,596 CAKE
- Total October Burn: 1,757,917 CAKE

Note: We pro-rate weekly CAKE burns over two months to ensure accuracy. For example, burns occurring at the end of September and stretching into October receive a proportionate allocation between the two months.

## **Proof of Burn for October:**
- October 9: **[Link](https://bscscan.com/tx/0x1b66f674809b8bd939f9fe0feaad1a56eaf29d30343ac7cefd74282c1f1b875c)**
- October 16: **[Link](https://bscscan.com/tx/0xc5b75937965236a363ded9d6337f9de48cc4b4f1a4c9cba60328a12aaa8d43c8)**
- October 23: **[Link](https://bscscan.com/tx/0xdddb0c22f09649c9b7675f24d9160b883cccb43b0a9dbcdf01ba8dc5c5a8fff6)**
- October 30: **[Link](https://bscscan.com/tx/0xeed5b7c6a030160206fb4e2e54aa69d5b79172117393e6d3eaf14bf0bc8a3577)**
- November 7: **[Link](https://bscscan.com/tx/0xc68207b9bf6ef58cb4d73e5b95bb4c0468b9897f4721cf5637f6c98bbff97f96)**

In our October 2023 report, we dive into the world of CAKE token supply management on PancakeSwap.