2024 was a transformative year for PancakeSwap, as we doubled down on our mission to bring DeFi back to its roots—accessible, simple, and empowering for everyone. Here’s a quick recap of the highlights and what’s next.

## **Numbers That Matter: Key Achievements in 2024**

![image1.jpg](https://sgp1.digitaloceanspaces.com/strapi.space/a025f14dc286f99fd13de252b6f49e59.jpg)

At PancakeSwap, we let the numbers do the talking. Here’s a look at the major milestones we reached:

- **Total Trading Volume:** $310.6B across 9 blockchains, reflecting a 179% YoY growth from $111.3B in 2023 to $310.6B in 2024.
- **2024 Highest Daily Trading Volume:** $3.47 billion on December 16, 2024
- **Total Value Locked (TVL):** $2.17B
- **Total Unique Traders:** 14.38M+ users

We focused on providing a seamless, multi-chain experience that’s easy for anyone to access, making PancakeSwap the go-to DEX for millions of users worldwide.

## **CAKE: Fueling Growth & Sustainability**

![image6.png](https://sgp1.digitaloceanspaces.com/strapi.space/fbd8adce3991c119545e85c6a33403a3.png)

CAKE remains the backbone of PancakeSwap’s ecosystem, driving value for holders and supporting long-term growth.

- **455.5M CAKE Burned** in 2024, increasing scarcity
- **5.3M CAKE Net Burned**, reinforcing the ecosystem’s strength
- **1.79M CAKE Holders** globally, fueling the token’s sustainability
- **1.37% of the Total Supply Burned**, boosting scarcity

Through strategic burns and strong community support, CAKE continues to play a critical role in ensuring the long-term success and stability of the PancakeSwap platform.

## **Putting User's Experience First: Products That Matter**

![image2.png](https://sgp1.digitaloceanspaces.com/strapi.space/e223fc24dce67008071c66b48c0afee0.png)
In 2024, PancakeSwap focused on delivering products that solve real user needs, making DeFi more efficient and accessible than ever:

- **Gauges Voting & veCAKE Upgrade**: Multi-chain support on Base, Polygon zkEVM, Linea, opBNB, and more, with external bridging platform integrations like StakeDAO and Hidden Hand.
- **PancakeSwapX**: Gasless, zero-fee swaps on Ethereum and Arbitrum.
- **SpringBoard**: A no-code, zero-fee platform for launching tokens on the BNB Chain.
- **AI-Powered Prediction**: The first AI-powered predictions in DeFi on Arbitrum.
- **Telegram Swap & Prediction Bot**: Swap and predict DeFi assets directly within Telegram.
- **Swap, Farm, and Bridge Page Upgrade:** A sleeker, faster, and more intuitive user interface.

## **v4 Development & Milestones**

2024 marked a major milestone for PancakeSwap v4 with key achievements:

- **v4 Whitepaper:** Released at EthGlobal London in March.
- **$500K Developer Grant:** Supporting hackathons and workshops at EthGlobal London and Brussels, with 20+ submissions at each event.
- **v4 Online Hackathon (collaboration with Brevis):** 115 hackers, 26 builds, 5 winners.
- **[$50K Yield Enhancement Grant](https://forum.pancakeswap.finance/t/request-for-proposal-rfp-yield-enhancement-hook/960):** This grant encourages the development of strategies to optimize LP yields.
- **Keynotes & Panels:** PancakeSwap also delivered v4 keynote presentations and participated in panels with partners such as Linea, Monad, Chainlink, and more.

## **v4: Where We Are Now and Looking Ahead to 2025**

At PancakeSwap, we’ve always prioritized user security, believing the best results come from careful, thoughtful work. While we had initially set a target for a Q3 2024 release, we’ve chosen to take a bit more time to conduct additional security audits and gather further feedback. We've completed the first round of audits and are using this valuable input to refine and enhance the protocol.

Rather than rushing the process, we focus on delivering a product that meets the highest standards and is ready for the community. We’re currently in the final stages of internal testing, making final tweaks based on feedback to ensure the best possible outcome.

Looking ahead to 2025, we're confident that the extra care we’re putting into this release will result in a secure, seamless launch. We appreciate the community’s patience as we continue fine-tuning PancakeSwap v4 to ensure it’s the best it can be.

## **A Global Community: Growing Stronger Every Day**

![image4.png](https://sgp1.digitaloceanspaces.com/strapi.space/6aadbf639217a70a9013e4a611121a4a.png)
PancakeSwap's community continued to expand globally in 2024, fostering deeper connections and engagement across regions:

- **Global Expansion**: 6 Community meetups in Turkey, Brazil, Spain, Vietnam, and Nigeria
- **2.37M+ Social Media Followers** across platforms
- **40+ Ambassadors** driving engagement worldwide
- **Event Highlights**: PancakeSwap attended major blockchain events, including ETHGlobal London, BNB Incubation Alliance, ETHGlobal Brussels, ETH CC, Live on Linea, Binance Blockchain Week, and more.

Our global community continues to grow stronger, creating meaningful connections and solidifying PancakeSwap’s position as a DeFi leader.

## **Looking Ahead: This is only the beginning**

2024 was a year of tremendous growth, but none of it would have been possible without the incredible support of our community. Together, we’ve turned ambitious goals into concrete achievements, transforming PancakeSwap from a platform into a thriving global ecosystem.

As we look ahead to 2025, we’re more excited about what we’ll accomplish together. The journey is just beginning, and we can’t wait to continue building a better, more inclusive DeFi future with you.

Thank you for making PancakeSwap your home in DeFi.

With gratitude,

**The Chefs** 🥞

_The data presented in all the visuals and all the blog information have been collected and verified up to 20 December 2024._

2024 was a transformative year for PancakeSwap, as we doubled down on our mission to bring DeFi back to its roots—accessible, simple, and empowering for everyone. Here’s a quick recap of the highlights and what’s next.

Inside PancakeSwap 2024: Make DeFi Great Again

### **PancakeSwap February Data**

- Total Value Locked (TVL): $1.78B
- Total Volume: $81.75B
- Average Daily Volume: $2.92B
- Unique Traders: 2.32M
- Unique Onsite Users: 2.4M
- veCAKE - Total CAKE Locked: 80.08M
- veCAKE - Avg Lockup Period: 70.67 weeks


### **CAKE Token**

- Total Burned: 3,941,226 CAKE 
- Monthly Net Mint: -3,020,115 CAKE
- % of Total Supply Burned: -0.795%
- Number of Holders: 1,823,243 (MoM +1.44%)


_As our emissions and burn data are calculated and grouped by weeks, not months, the statistics above may not one-to-one reflect our “monthly burn”, and only serves as a guideline. For more information on our burns, please refer to our weekly burn post on our social channels._

### Served In February

#### **Monthly Burn Report**

![feb burn.jpg](https://sgp1.digitaloceanspaces.com/strapi.space/833865ba6bbd71538e75eb5a10a143ae.jpg)

In February 2025, PancakeSwap remained steadfast in its commitment to Ultrasound CAKE, successfully reducing the total supply of CAKE for the 18th consecutive month.
 This milestone brings the cumulative net reduction to -11,920,528 CAKE since the start of our journey.

#### **Key CAKE Stats for February 2025:**

- 👨‍🌾 Minted: 921,112
- 🔥 Burned: 3,941,226
- 📉 Net Mint: -3,020,115
- 🔻 % of total supply burned: -0.795%

This ongoing reduction reinforces PancakeSwap’s commitment to sustainable tokenomics, ensuring a strong and healthy ecosystem for CAKE. Stay tuned as we continue paving the way toward Ultrasound CAKE! 🥞

#### **Big News: $1 Trillion in Trading Volume!**

We’re excited to share that PancakeSwap hit a huge milestone in February—over $1 trillion in total trading volume across all chains! This isn't just a number; it reflects the amazing support and trust from our community. You keep us going, and we're more motivated than ever to improve and make DeFi easier and more rewarding for everyone.

Thank you for being part of this journey with us. Here's to the next trillion! 💙🥞


#### **PancakeSwap Goes Purple: Now Live on Monad Testnet! 💜**

PancakeSwap has landed on the Monad Testnet, bringing faster transactions, ultra-low fees, and optimized capital efficiency. With fees as low as 0.01%, this integration sets a new standard for DeFi trading.

- Better Performance: Thousands of transactions per second with almost instant finality.
- More Options for Liquidity Providers: You can provide liquidity with v2 for simplicity or v3 for maximum efficiency.
- Smarter Trades: The Universal Router ensures you get the best trade prices.

[Explore the testnet](https://pancakeswap.finance/?chain=monadTestnet) now and be part of the future of trading on PancakeSwap!

#### **PancakeSwap supported the MyShell.AI TGE hosted by Binance Wallet.**

The event was a huge success, highlighting how PancakeSwap’s platform and community can drive success for DeFi projects

#### **PancakeSwap’s Global Tour Continues – Where Next? 🌍**

Last month, we visited Abuja Nigeria, and Ho Chi Minh City, Vietnam, where over 150 people joined us for two amazing events! From learning about DeFi to helping new users create wallets, networking, and having fun, the energy was incredible. Plus, we gave away exclusive PancakeSwap merch to celebrate our growing community!

The events were a hit, and we’re already planning two more for next month. Where should we go next? Let us know, and let’s make 2025 a year full of unforgettable meetups!

Thanks for reading! Don’t forget to follow us on **[Twitter](https://x.com/PancakeSwap)** ,join us on **[Telegram](https://t.me/PancakeSwap)** and **[Discord](https://discord.com/invite/pancakeswap)**

*The Chefs* 🥞

PancakeSwap February Recap 2025

### **PancakeSwap January Data**

- Total Value Locked (TVL): $1.98B
- Total Volume: $78.45B
- Average Daily Volume: $2.53B
- Unique Traders: 2.35M
- Unique Onsite Users: 2.1M
- veCAKE - Total CAKE Locked: 82.01M
- veCAKE - Avg Lockup Period: 70 weeks


### **CAKE Token**

- Total Burned: 36.2M CAKE 
- Bought back from the market to burn: $3.4M
- Monthly Net Mint: -1,083,602 CAKE
- % of Total Supply Burned: -0.284%
- Number of Holders: 1,808,166 (MoM 0.60%)

_As our emissions and burn data are calculated and grouped by weeks, not months, the statistics above may not one-to-one reflect our “monthly burn”, and only serves as a guideline. For more information on our burns, please refer to our weekly burn post on our social channels._

### Served In January

#### **Monthly Burn Report**

![Jan Burn.jpg](https://sgp1.digitaloceanspaces.com/strapi.space/96ca004730b531c767e5c359bc13187e.jpg)

In January 2025, PancakeSwap maintained its commitment to achieving Ultrasound CAKE by successfully reducing the total supply of CAKE for the 17th consecutive month. 
This milestone brings the cumulative net reduction to -8,900,414 CAKE since the start of our journey.

#### **Key CAKE Stats for January 2025:**

- 👨‍🌾Minted:  1,019,807
- 🔥Burned: 2,103,409
- 📉Net Mint: -1,083,602
- 🔻% of total supply burned: -0.284%

This demonstrates PancakeSwap’s unwavering dedication to creating a sustainable tokenomics model, strengthening CAKE's position as a leader in DeFi. Stay tuned as we continue making strides toward Ultrasound CAKE!

#### **One month - Two IFOs**

January was an exciting month for the IFOs on PancakeSwap! We hosted two IFOs with over $25M in total commitments, surpassing the initial targets. Together, these launches resulted in burning more than 172,000 CAKE (~$248,000), reinforcing our commitment to sustainable tokenomics.
Both IFOs were oversubscribed, demonstrating the high demand for innovative projects launching on PancakeSwap. Thank you to everyone who participated!

Stay tuned—more IFOs are on the way! 

#### **Join our Ambassadors Team today!**

Are you passionate about DeFi and eager to make an impact? The PancakeSwap Ambassador Program is expanding, and we’re looking for ambassadors to help bring DeFi education to key regions. Ambassadors are crucial in organizing local meetups, workshops, and events, fostering strong communities, and spreading the PancakeSwap vision.

We’re actively looking for Ambassadors in Japan, India, South Korea, Dubai, Thailand, Taiwan, and Indonesia, but the opportunities don’t stop there. Whether hosting events, creating content, or engaging with local users, our Ambassadors help drive adoption and innovation in DeFi.
Ready to take DeFi to the next level? Apply now and become a key part of the PancakeSwap community!

#### **PancakeSwap Limit & TWAP Pages Upgraded**

We've upgraded our Limit & TWAP order pages, making trading even more seamless across BNB Chain, Base, and Arbitrum One. Now, you can place orders across multiple chains with an improved UI, better order history visibility, and enhanced trade execution flexibility.

Key updates include:
- ✅ Multi-Chain Support – Execute Limit & TWAP orders across multiple ecosystems
- ✅ Improved Order Management – Split trades into multiple transactions at your set price
- ✅ Gain % Feature – View price changes relative to the market in real time
- ✅ Cleaner Order History – Easily track open, closed, and filled orders

This update brings a smoother, more intuitive experience for traders looking to optimize their strategies across different chains​

Thanks for reading! Don’t forget to follow us on **[Twitter](https://x.com/PancakeSwap)** ,join us on **[Telegram](https://t.me/PancakeSwap)** and **[Discord](https://discord.com/invite/pancakeswap)**

*The Chefs* 🥞

PancakeSwap January Recap 2025

If you’re passionate about DeFi and believe you have what it takes to educate and inspire others, this is your chance! We’re expanding our Ambassador Program to key regions, and we need local leaders to host meetups, workshops, and events to bring the PancakeSwap experience to the masses. Help us strengthen local communities and take DeFi education to the next level—one event, one connection at a time.

## Where We Need Ambassadors & What You’ll Do

We’re looking for passionate Ambassadors in key regions to help bring the PancakeSwap experience to life and drive DeFi education on a local level. If you’re based in one of these regions and ready to take on the challenge, we want to hear from you:

- **Japan** 
- **India** 
- **South Korea** 
- **Dubai** 
- **Thailand** 
- **Taiwan** 
- **Indonesia** 

### **Ambassador Responsibilities**

As a PancakeSwap Ambassador, you’ll be crucial in spreading the PancakeSwap vision, building strong communities, and hosting educational events. Your core responsibilities will include:

- **Hosting Local Events (Mandatory):** Organize and lead meetups, workshops, and other community events. You'll share your DeFi expertise, engage with attendees, and represent PancakeSwap in your region. Events should be held in your region's **native** **language**.
- **Optional Activities:**
    - **Content Creation:** Create educational articles, videos, or social media posts to raise awareness and share knowledge about PancakeSwap.
    - **Community Moderation:** Assist in moderating PancakeSwap’s community channels to help foster a positive and engaging environment.

If you’re ready to lead in your community and drive the next wave of DeFi adoption, this is your chance to shine!

## Benefits of Becoming a PancakeSwap Ambassador

**Global Recognition:** Represent one of the most innovative DeFi platforms and gain exposure within the global crypto and DeFi communities.
    
**Collaborate with the Core Team:** You can work directly with PancakeSwap’s team on exciting projects, beta testing, and brainstorming sessions and receive exclusive updates.
    
**Reward System:** Earn financial compensation, exclusive PancakeSwap merch, and other exciting rewards for your contributions and performance.
    
**Dynamic and Fun Environment:** Join a fast-paced, ever-evolving ecosystem offering new challenges and growth opportunities daily.
    

## Requirements to Apply

We’re looking for Ambassadors who:

- Are fluent in **English** and the **native language** of the region you're applying to, with **business-level proficiency** in written and spoken communication.
- Have a strong understanding of PancakeSwap, DeFi, and community-building.
- Are proactive, reliable, and passionate about organizing events.
- Have excellent communication and leadership skills to engage, inspire, and grow local communities.

## How to Apply & Selection Timeline

Ready to become a PancakeSwap Ambassador? Follow these steps to apply:

1. **Complete the Application Form:**  https://forms.gle/aqK61GiL1QjU7Tqb8
2. **Prepare for an Interview**: If shortlisted, we'll schedule a video interview to assess your communication skills and knowledge of PancakeSwap.
3. **Get Onboarded:** If selected, you'll receive onboarding materials and support to help you plan your first local event.

### Selection Process & Timeline:

1. Application Period: Jan 24th to Feb 2nd
2. Interview Phase: Feb 3rd to Feb 14th
3. Onboarding Phase: Feb 17th to Feb 20th
4. Ambassador Announcement: March 3rd 2025. 

## Frequently Asked Questions (FAQs)

- **Who can apply to be a PancakeSwap Ambassador?**
Anyone who meets the requirements outlined in the document, including native in both English and the local language of the region they’re applying to, has business-level fluency in written and spoken communication, a strong understanding of PancakeSwap, and a genuine enthusiasm for community building.
    
- **Do I need prior experience in event planning or community management?**
While prior experience is a plus, it’s not required. We’ll provide all the guidance and support you need to succeed.
    
- **What is the time commitment for an Ambassador?**
Time commitment will vary depending on your activities, but hosting events and engaging with your community will require an ongoing effort.
    
-  **Will I receive resources to support my events?**
Absolutely! Our community team will provide you with onboarding materials, event planning support, and ongoing guidance.
    
- **What rewards can I expect?**
Rewards include financial compensation for completed tasks, exclusive PancakeSwap merchandise, and global recognition within the DeFi community.
    
-  **Can I apply if I’m not from one of the listed countries?**
Currently, we are focusing on these regions, but stay tuned for future opportunities!
    
- **How will interviews be conducted?**
Interviews will be held online via video call, so make sure you’re ready to communicate effectively with an open camera.
    
-  **What happens if I’m selected?**
You’ll be onboarded into the PancakeSwap Ambassador Program, where you’ll get the support you need to host your first event and represent PancakeSwap in your community.

Interested in becoming a PancakeSwap ambassador? 

Take DeFi Global: Become a PancakeSwap Ambassador

GM, PancakeSwap community, and CAKE holders

Many of you have questions and feedback regarding the **[Proposal to Redirect Emissions for Ecosystem Growth](https://pancakeswap.finance/voting/proposal/0xaffca49c859c6012ad7c969fe7afd1caa8d3386636ab8ccb12a5b5e5ae922e6a)**.

We’d like to take this opportunity to address some of the common questions you’ve raised, so please review the following explanations regarding this decision.

If you have any additional questions about the proposal, please drop a message in our community channels or leave a comment on our **[forum topic](https://forum.pancakeswap.finance/t/proposal-to-redirect-emissions-for-ecosystem-growth/796)**.

1\. **Why does PancakeSwap change its policies or conditions frequently?**
    
One of the main focus areas for the Kitchen has been CAKE's tokenomics. Since last year, the Kitchen has reduced emissions for farming rewards and redirected those funds to burning CAKE tokens, achieving a consistent annual deflation rate of 1-2%. This has only been achieved through an iterative model: making a change, reviewing the impact, and making further changes to accomplish the ultimate goal.
    
Further adjustments to the allocation of CAKE tokens aim to maintain trading volumes and utilize emissions more effectively, moving beyond traditional liquidity mining incentives to enhance overall ecosystem value.

2\. **Can you provide detailed information on how the redirected emissions will be used for ecosystem growth, and explain why a 10% emissions cut was chosen? Additionally, what metrics or examples illustrate the benefits of this decision?**

PancakeSwap v4 represents the largest update to our protocol in the past 1.5 years since the launch of v3. This update introduces new opportunities for developers by enabling them to create hooks that enhance platform functionality. These enhancements will improve the trading experience through features like dynamic fees and reduced gas costs, while also optimizing liquidity provision by maximizing returns and capital efficiency.

We anticipate that these improvements will boost trading volumes and increase CAKE burn, ultimately attracting more traders and enhancing protocol revenue and market depth, benefiting all participants. To support the launch of PancakeSwap v4, we are implementing two key initiatives: the Grant Program, which allocates $250,000 to fund innovative projects within our ecosystem, and the Emission Program, which involves strategically reallocating emissions to 0.05 CAKE per block.

The decision to implement a 10% emissions reduction is informed by the positive effects of previous reductions made mid-to-late last year and current APRs across all chain deployments and farms. Last year, we successfully reduced CAKE emissions without sacrificing trading volumes or market share. Given that it has been several months since the last reduction, we believe we can continue this trend, conserve CAKE emissions, and maintain our market presence.

3\. **Do we have other upcoming products that may also require emissions?**

Yes, we have several product updates and expansions that will require CAKE emissions. These include deploying to new chains, migrating liquidity from PancakeSwap v3 to v4, and increasing liquidity for meme coins, stablecoins, and core assets across all the chains where we are already active.

4\. **Can you clarify how the emissions from the Multichain Warchest have been utilized so far?**
    
Out of the 1.25 CAKE per block allocated for the Multichain Warchest, we have utilized the emissions in the following ways:

- **Burn Address**: We have **[directed 0.4 CAKE per block to the burn address](https://pancakeswap.finance/voting/proposal/0x45121903be7c520701d8d5536d2de29577367f2c84f39602026dc09ef1da8346)**. This strategic move is intended to help us achieve "ultrasound CAKE," a term referring to a deflationary token model in which the supply of CAKE decreases over time.
- **Unused Emissions**: Approximately 0.2 CAKE per block is currently unused. This comprises the majority of CAKE allocated to the Warchest and allows the Kitchen to respond to future needs or opportunities within our ecosystem.
- **Rewards for Liquidity Providers**: The remaining emissions are actively used to reward liquidity providers across several chains, including Ethereum, Arbitrum, Base, ZKsync, Linea, Polygon zkEVM, opBNB, and Aptos. The Kitchen has been frugal in deploying incentives to grow marketshare and trading volumes, with relatively small portions of the Warchest used to incentivize liquidity providers on these platforms and grow our Total Value Locked (TVL) and trading volumes. This approach has positioned us as a competitive multichain decentralized exchange (DEX). More details on our performance on each of those chains can be found in the **[vote proposal](https://pancakeswap.finance/voting/proposal/0xaffca49c859c6012ad7c969fe7afd1caa8d3386636ab8ccb12a5b5e5ae922e6a)**.

5\. **How do you address community concerns about potential decreases in CAKE earnings in the short to medium term, and what reassurances can you provide regarding the long-term value despite immediate reductions?**

The Kitchen has conducted a thorough review of all pools and farms across our chain deployments. This comprehensive assessment informed our decision to propose a reduction in incentives. We believe that PancakeSwap will maintain its trading volumes, market share, and, most importantly, competitive APRs for liquidity providers even after this proposal is implemented.

The alternative would be to overissue CAKE tokens to farms and pools that do not generate sufficient volumes to break even. Over the past year, we have successfully reduced CAKE emissions, making it a deflationary asset while simultaneously increasing our market share, expanding the number of supported assets, and adding more chains—all without negatively impacting our users or liquidity providers.

6\. **Why propose allocating funds to PancakeSwap growth instead of giving veCAKE holders the option to direct a portion of their voting power towards future CAKE growth through the gauge system?**

While the veCAKE system effectively aligns long-term community members and adds utility to CAKE, the voting behavior of veCAKE holders does not always align with the protocol's broader needs. Currently, many veCAKE holders tend to vote for options that offer the largest bribes to maximize their short-term returns. This focus on immediate gains can overshadow the long-term potential of new products and initiatives, which may not provide the same level of short-term rewards.

For instance, consider a scenario where we want to bootstrap a BNB-USDT v4 pool. Although this pool has a high probability of generating substantial trading volumes and CAKE burns for the ecosystem, rational veCAKE holders may choose not to vote for it if it lacks attractive bribes. Consequently, the pool may struggle to gain the necessary liquidity, undermining its potential benefits for all CAKE holders.

This is where the Ecosystem Growth Fund comes into play. By allocating dedicated funds to support initiatives like the BNB-USDT v4 pool, we can provide the necessary emissions to bootstrap liquidity and ensure its success. This approach allows us to focus on long-term growth and sustainability, rather than being solely driven by short-term incentives.

Ultimately, our strategy aims to create a more balanced ecosystem that not only rewards current participants but also fosters the development of new products that can drive greater value for all CAKE holders over time.

7\. **Will PancakeSwap utilize the community forum for discussions prior to formal proposals?**

Currently, a forum post is live **[here](https://forum.pancakeswap.finance/t/proposal-to-redirect-emissions-for-ecosystem-growth/796)**, where you can share your feedback and insights on the proposed changes. We encourage all community members to participate in the discussion by leaving comments and sharing your thoughts.

8\. **Will PancakeSwap consider a smaller emissions cut in response to community feedback?**

If substantial feedback suggests that a smaller emissions cut would better serve PancakeSwap's interests and support the protocol's long-term health, we will carefully consider those perspectives.

However, based on a thorough review of APRs, volumes, and fees generated across the protocol, we believe a 10% reduction is the best option for long-term success. This reduction will be implemented gradually over several epochs to minimize impact and allow for assessment of pool performance.

9\. **What do you think about implementing temporary emissions cuts with a plan to restore them later, and how would this work?**

While this approach may seem appealing, accurately predicting how long we will need these emissions is challenging. The success of our new products and initiatives can vary significantly, making it difficult to determine the timeline for their traction and the incentives they will require.

In our previous **[proposal](https://pancakeswap.finance/voting/proposal/0x45121903be7c520701d8d5536d2de29577367f2c84f39602026dc09ef1da8346)**, we demonstrated our willingness to adjust allocations if they exceed what is necessary to meet the protocol's needs. This flexible approach ensures that we can effectively respond to changing circumstances. 

10\. **How does the Kitchen's request for discretion align with the program's overall goals and objectives, and what measures will be taken to ensure accountability during its implementation?**

This discretion is not just a matter of convenience; it is in the Kitchen's best interest to utilize the Ecosystem Growth funds effectively, as our actions directly impact the protocol's revenue and long-term viability. With the ability to make swift decisions, the Kitchen can seize opportunities for innovation and investment that align with PancakeSwap’s strategic objectives.

We will establish regular reporting on the usage of the Ecosystem Growth allocation.  Updates will be provided on the **[PancakeSwap forum](https://forum.pancakeswap.finance/)**, detailing how funds are being utilized, the outcomes of various initiatives, and any adjustments made to strategies.

The request for discretion aims to foster a more responsive and effective approach to growth initiatives, while our commitment to regular reporting will help maintain transperency and trust within the community.

11\. **Why change the Warchest name? Is it because Warchest has a meaning different from the new fund?**

Initially, the emissions allocated to the Multichain Warchest were designated solely for PancakeSwap's deployments to new chains. However, our current strategy encompasses a broader range of initiatives.

In addition to supporting new chain expansions, we are now introducing products like PancakeSwap v4, which require incentives but do not neatly fit into the traditional "Multichain Warchest" category. By renaming it to "Ecosystem Growth," we aim to more accurately represent the fund's purpose and the diverse initiatives it will support.

GM, PancakeSwap community, and CAKE holders

 Proposal to Redirect Emissions for Ecosystem Growth

Our July 2024 report explores the CAKE token supply management world 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  7th August, 2024, PancakeSwap has successfully burned -0.093% of the CAKE total supply for July 2024. To calculate this percentage, we divided the total net mint of -357,707 CAKE by the initial total CAKE supply on July 1 2024. This marks the eleventh consecutive month of CAKE total supply reduction, with a cumulative -3,549,758 CAKE net mint over September, October, November, December 2023, January, February, March, April, May, June, July 2024. 

## **Achieving CAKE Total Supply Reduction through Net Minting:**
In July 2024, PancakeSwap achieved a net mint of -357,707 Cake This negative net mint indicates that more CAKE tokens were burned than minted during the month.

## **July Mint Breakdown**
- Farms: 829,035
- CAKE Syrup Pool: 72,882
- Other Product Usage: 123,957
- **Total July Mint:** 1,025,874

_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._

## **July Burn Categories**
- Swaps and Perpetual Trading Fees: 957,831
- Prediction: 301,431
- Pancake Protectors: 3,216
- Lottery, NFT Market, Profile & Factory: 121,104
- **Total July Burn: 1,383,581**

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


## **Proof of Burn for July:**

- July 1: **[Link](https://bscscan.com/tx/0xdd42b54df0d0271df65f6223a3c1fb75ad9e5069d82a0de3f2a5de38c6edd132)**
- July 8: **[Link](https://bscscan.com/tx/0xadc429ed54bf7cc74247447c524e8cb7747e75779b00a68729341b4eddc3fefb)**
- July 15: **[Link](https://bscscan.com/tx/0xb6f517aa393943c6be79991f59607f39194de2952e849dbdc1972f7488bb46b4)**
- July 22: **[Link](https://bscscan.com/tx/0x8f6053f757796ce2e685fd6e3016908f0727e03969ebee40633fd443c8ba398d)**
- July 29: **[Link](https://bscscan.com/tx/0xe600a35644283facb547554e9c9c9cf4a7a202907d70020eb217c15999a2a245)**
- August 5: **[Link](https://bscscan.com/tx/0x65406df1fceb5e191cf549a2d06316c352fbbf6466619f60d858aec42fc84cf7)**

Our July 2024 report explores the CAKE token supply management world on PancakeSwap. 

July 2024: PancakeSwap's CAKE Burn Report

*Updated as of 1 August, 2024

GM PancakeSwap Fam, 

We are excited to announce that PancakeSwap will airdrop 2,452,128 million ZK tokens directly to our community. This initiative recognizes and appreciates our community's ongoing and continued support of the ZKsync PancakeSwap development. 

![2024-07-05 11.56.06.jpg](https://sgp1.digitaloceanspaces.com/strapi.space/f8300166b872c1ec3e1c59d51dfb7412.jpg)

## **ZKsync PancakeSwap Achievements and Milestones**
Over the past year, PancakeSwap has made substantial strides on ZKsync, implementing essential features such as seamless **[Swaps](https://pancakeswap.finance/swap?chain=zkSync)**, **[Yield Farming](https://pancakeswap.finance/farms?chain=zkSync)**, **[Prediction Markets](https://pancakeswap.finance/prediction?chain=zkSync&token=ETH)**, **[Fiat On-Ramp](https://pancakeswap.finance/buy-crypto?chain=zkSync)**, **[Position Manager](https://pancakeswap.finance/position-managers?chain=zkSync)**, and **[Syrup Pools](https://pancakeswap.finance/pools?chain=zkSync)**. These efforts have resulted in impressive milestones, surpassing 3.6 billion USD in trading volume, 5.8 million USD in total value locked (TVL), and over 1.9 million total traders.

## **ZK Airdrop Distribution Criteria**
The ZKsync airdrop is structured to reward both longstanding contributors who have supported our journey and newcomers who engage actively with PancakeSwap. 

![Screenshot 2024-07-05 at 12.12.56.png](https://sgp1.digitaloceanspaces.com/strapi.space/0319e21dffc60b57c323de1b4d9c301c.png)

***For veCAKE Managers, specifically StakeDAO and Cakepie, they will distribute 100% of the Airdrop to their ecosystem users, across liquid locked CAKE stakers and LPers. We have included their treasury addresses for this distribution.**

**Note: Qualifying under Category (1 and 2) also allows participation in Category (3), allowing you to maximize airdrop benefits by continuing to contribute liquidity and trade actively on PancakeSwap.**

## **Selection Criteria**
1\. **veCAKE holders:** This allocation rewards veCAKE holders for their loyalty and steadfast support of PancakeSwap. By incentivizing continued engagement in our platform, we aim to strengthen our community base and foster long-term commitment from our most dedicated supporters.

2\. **Past contributors:** We have selected users who have actively contributed to the ZKsync PancakeSwap ecosystem through various means, such as trading, providing liquidity, participating in the ZKsync Traverse campaign, using the ZKsync Prediction product, and voting in ZKsync gauges. These contributors play a crucial role in the functionality and growth of our ecosystem, ensuring liquidity and activity that is vital for its sustainability and success.

3\. **Future contributors:** To sustain growth and development, it's essential to incentivize upcoming traders and LPs to engage with ZKsync PancakeSwap. By including this category, we encourage ongoing participation and innovation within the ZKsync ecosystem. Rewarding future contributors helps drive continuous growth, particularly in total value locked (TVL), which is aligned with the chain team’s forward direction and pivotal for facilitating trading activities and revenue generation for the protocol. Users of other categories are also encouraged to participate in this initiative.

Each category has been chosen strategically to acknowledge and encourage different forms of support and participation within the ZKsync PancakeSwap community, ensuring a well-rounded approach to community engagement and growth.

## **Calculation Process**
To ensure retail users receive a meaningful amount while larger users are proportionally recognized, we have applied  scaling to the following allocations:

- (1) veCAKE Holders,
- (2a) Past Liquidity Providers,
- (2b) Past Active Traders, and
- (2d) Past ZKsync Prediction Users

A power of 0.65 to 0.85 has been applied to the data, ensuring larger users receive a representative amount (e.g. traders who are responsible for ~90% of the volume will get ~63% of the Past Active Traders category).

This ensures retail users receive a meaningful amount of allocation, on average, ~7x more than if scaling was not applied.

## **How to Claim the Airdrop**
Currently, the airdrop distribution is only open for Category 1 and Category 2 users. Categories 3 will be distributed in the future.

For Category 1 and Category 2 users, connect your eligible wallet to the **[PancakeSwap homepage](https://pancakeswap.finance/?chain=zkSync)** to claim your ZK tokens. You will receive a pop-up notification (as shown below) guiding you through the process. Simply click the **"Claim"** button, and your ZK tokens will be deposited directly into your wallet within minutes. Gas fees are on us! Thanks to ZKsync’s unique paymaster feature, we can completely subsidize your gas claim costs.

![2024-07-05 16.33.38.jpg](https://sgp1.digitaloceanspaces.com/strapi.space/ad650abeebc948fbe63bd9b998de8808.jpg)

Please be aware that the claim window will open at **10:30 UTC on July 5, 2024, and close at 10:30 UTC on September 4th, 2024.** Any tokens not claimed during this period will be reallocated to the PancakeSwap ecosystem for future development and community initiatives.

Stay tuned for updates on the airdrop distribution for Categories 3.

## **Extended Claim Period**
We are extending the claim period for one more month to ensure everyone has sufficient time to claim their ZK airdrop. The new claim window will close at 10:30 UTC on September 4th, 2024. This will be the **ONLY** extension for the claim period. All unclaimed ZK tokens will be reallocated to the PancakeSwap ecosystem for future development and community initiatives.

## **Restrictions**
Please note that residents and citizens of certain jurisdictions may be restricted from participating in the ZK airdrop. Before participating, you must ensure compliance with local laws and regulations. Upon receiving the airdrop, you agree to adhere to **[PancakeSwap's terms and conditions](https://pancakeswap.finance/terms-of-service?chain=zkSync)**, which are available for review on our website. 

## **Onwards and Upwards**
At PancakeSwap, we are committed to fostering a thriving community and rewarding our users for their dedication to our platform. The ZK token airdrop exemplifies our appreciation for the support and engagement of our community members. We invite you to participate actively in this opportunity to benefit from the airdrop and continue shaping the future of DeFi with PancakeSwap.

Stack’em 

The Chef’

We are excited to announce that PancakeSwap will airdrop 2,452,128 million ZK tokens directly to our community. 