November 2023: PancakeSwap's CAKE Burn
Ecosystem
Chef’s choice
2023-12-05

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:

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