In this report for September 2023, we delve into the dynamic world of CAKE token supply management on PancakeSwap. Discover how PancakeSwap strategically reduces the total supply of CAKE through burns and pursuing ultrasound CAKE.

CAKE Total Supply Decrease: As of October 2nd, 2023, PancakeSwap has successfully burned <0.01% of the CAKE total supply for September 2023. This was calculated by dividing the total net mint of 23,618 CAKE by the initial total CAKE supply on September 1st, 2023.

Achieving CAKE Total Supply Decrease through Net Minting: PancakeSwap achieved a net mint of -23,618 CAKE in September 2023. This negative figure signifies that more CAKE tokens were burned than minted during the month.

September Mint Breakdown:

• Farms: 946,696 CAKE
• CAKE Syrup Pool: 808,640 CAKE
• Other Product Usage: 27,953 CAKE
• Total September Mint: 1,783,289 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.

September Burn Breakdown:

• Swaps and Perpetual Trading Fees: 1,166,155 CAKE
• Prediction: 431,761 CAKE
• Pancake Protectors: 57,005 CAKE
• Lottery, NFT Market, Profile & Factory: 151,986 CAKE
• Total September Burn: 1,806,907 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 September:

• Sep 4: Link
• Sep 11: Link
• Sep 18: Link
• Sep 25: Link
• Oct 2: Link