### Data Recap
#### Overall
- Total Volume: $7.1B
- Average Daily Volume: $228.4M
- Unique Traders: 1.4M
- Unique Onsite Users: 2.7M
- Mini Program — Onsite Users: 89K
- Mini Program — Average Daily Users: 4.3K
- Pancake Protectors - Total CAKE Burned: 66K CAKE ($79K)
- Pancake Protectors - Average Daily active users: 13K
- 3 CAKE Staker Reward Pools (Syrup + Simple Staking)

#### CAKE
- Total burned: 48.7M CAKE ($58M)
- Bought back from the market to burn: $2.0M
- Amount of holders: 1,490,091 (MoM 1.31%)
- Effective CAKE Emission Rate: 1.45 CAKE/Block

*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 October

#### Road to Ultrasound CAKE: Hop in the deflationary journey!

![CAKEburn.jpg](https://sgp1.digitaloceanspaces.com/strapi.space/ca3edf36bb61743379ad4f1f38dedbf6.jpg)

On our road to a deflationary CAKE, the following modifications were made during the month of October:

📢 CAKE Pool Emissions Update: The final effective CAKE pool emissions have been reduced from 0.5 to 0.35 CAKE per block, as per the original voting proposal for CAKE tokenomics v2.5.
Also, the new monthly burn report is ready to show you how we’re improving in emission vs inflation data! 

Take a look at October’s burn report here 👉https://blog.pancakeswap.finance/articles/october-2023-pancake-swap-s-cake-burn

#### Milestones Achieved! 

![Perpetuals Milestones.jpg](https://sgp1.digitaloceanspaces.com/strapi.space/0cdfbc4369200ce75b78c454861f9fa7.jpg)

PancakeSwap is what it is because of its users. Users who choose us for their everyday trading. Users who trust us for their crypto journey. 
We want to share with you some milestones achieved during this month.

But this is not all; our Perpetuals v2 is rocking! 

🔥 With ultra-low 0.05% fees on Arbitrum and 0.08% on BNB Chain and a trading rewards program on Arbitrum that lets you earn 25% of platform revenues, trading on PancakeSwap Perpetuals V2 has never been more rewarding!
🥞 Start trading now: https://perp.pancakeswap.finance/en/futures/v2/BTCUSD

#### Q4 Roadmap - Closing an excellent year

![q4roadmap.jpg](https://sgp1.digitaloceanspaces.com/strapi.space/c3734b5736f34c76cc02ce0f0d5590d5.jpg)

The Chefs released the Roadmap for the last quarter of 2023, with several impressive items on the board. It may not be a huge list, but each item can be considered huge on its own. 
More importantly, all of the upcoming products are designed to continue to generate more revenue for the protocol, which means more CAKE usage and one stop closer to the Ultrasound CAKE.

Yoda would say: Happened AMA, happened recap 👉 Here it is: https://blog.pancakeswap.finance/articles/pancake-swap-q4-roadmap-ama-the-end-of-the-2023-journey 

#### Say goodbye to v3 Positions Problems - Say Hi to Position Manager!

![position manager.jpg](https://sgp1.digitaloceanspaces.com/strapi.space/c970f0b2b7277699abf2c3495e28c523.jpg)

Month after month, recap after recap, we always had one thing pending: to launch the Position Manager! 

Position Manager is a collaborative integration between PancakeSwap and elite protocol partners, offering a suite of strategies for optimal Liquidity Provision (LP). 

This means no more manual LP configurations or complex calculations. Users can effortlessly select trading pairs and preferred protocols, executing their strategies through our user-friendly Position Manager interface.

![brill.jpg](https://sgp1.digitaloceanspaces.com/strapi.space/15f0440f9c245f601a27b2f30d8fcdd4.jpg)

Our First project partnership is with Brill Finance. Come to pancakeswap.finance/position-managers to start enjoying the best aprs depositing one single token.

#### New Farms

![Farms.jpg](https://sgp1.digitaloceanspaces.com/strapi.space/fb37f727472bba6c0cc7f4cd88cb8eb0.jpg)

#### New Pools

![Pools.jpg](https://sgp1.digitaloceanspaces.com/strapi.space/0691834ad2c84741aae62c0c43a1b79f.jpg)

#### Interviews in the Kitchen: Chef Salade, 0x…cuteness = justice!

![Salade Interview.jpg](https://sgp1.digitaloceanspaces.com/strapi.space/6d7c904bfaa40798894be02f42c56415.jpg)

Join us for a captivating interview with Chef Salade, the artistic genius behind PancakeSwap's stunning design🎨 

Discover the creative vision that brings PancakeSwap to life and shapes the DeFi experience.
Read the interview here 👇
https://blog.pancakeswap.finance/articles/interviews-behinds-the-kitchen-s-practical-creativity-chef-salade

### Still Cooking - Coming Soon!

We have some exciting plans on the horizon:

#### vCake Update - Gauge System
Your CAKE. Your Voice! Get ready for the vCAKE upgrade coming this November. This update will bring more governance power and more control about CAKE emissions.

#### Game Expansion 
We will introduce a gaming platform that allows 3rd party developers to create and launch their own games on PancakeSwap. This platform will grow over time, offering an ever-expanding array of games to cater to an increasingly diverse audience.

#### Notification Service 
Tired of missing important updates? We're actively developing a new notification feature that will keep you informed, even via desktop browsers. Say goodbye to missing out on crucial PancakeSwap notifications and updates moving forward!

#### Still hungry?
Join us on Twitter , Telegram, in our Discord server, or in our growing Reddit community!

Bon appétit!

_The Chef's 🐰🥞_


PancakeSwap October Recap 2023 

PancakeSwap users can now easily swap Solana-based tokens directly on our [**interface**](https://solana.pancakeswap.finance/swap)! This exciting new feature allows you to swap Solana tokens quickly and seamlessly while enjoying the same smooth, user-friendly experience you expect from PancakeSwap.

## **Expanding Solana’s Accessibility**

The goal is to enhance Solana’s accessibility by enabling Solana-based tokens for trading on PancakeSwap. Introducing PancakeSwap to Solana will broaden access to the ecosystem, allowing users to easily trade Solana-based tokens while enjoying a top-tier UI/UX experience in DeFi.

## **Getting Started: Solana Token Swaps**

![Frame 53361.jpg](https://sgp1.digitaloceanspaces.com/strapi.space/4c03607ffc638e3ddc19c463778850f6.jpg)

At launch, Solana-based token swaps will be available through the **[PancakeSwap interface](https://solana.pancakeswap.finance/swap)**, with trades routed through an external protocol. This approach provides immediate access to Solana liquidity without the need for PancakeSwap to deploy native liquidity pools on Solana right away. As a result, users can enjoy efficient swaps with deep liquidity and minimal slippage, all within the familiar PancakeSwap interface.

**Note**:

- PancakeSwap will not charge additional fees beyond the standard fees set by the external protocol, ensuring a smooth trading experience for all users.
- Since Solana does not yet have native PancakeSwap pools, features like CAKE burns, LP rewards, etc, won’t be available on PancakeSwap initially.

### **Everyone’s Favorite DEX coming to Solana**

Solana-based token swaps are now available on the **[PancakeSwap interface](https://solana.pancakeswap.finance/swap),** allowing you to start swapping Solana tokens today. This initial phase will help us gather feedback and improve the experience. We're committed to refining and optimizing the platform to provide the best DeFi experience possible.

**The Chef’s**

PancakeSwap users can now easily trade Solana-based tokens directly on our interface! 

Expanding Solana’s Accessibility: Swap Solana-Based Tokens on the PancakeSwap Interface

**Disclaimer and Risk Warning:** _This content is for general information and educational purposes only, without representation or warranty. It should not be construed as financial, legal, or other professional advice, nor intended to recommend purchasing any specific product or service. You should seek advice from appropriate professional advisors._

#### **What is Decentralized Science (DeSci)?**

Decentralized Science (DeSci) is a new way of doing scientific research using technology that removes the need for central control. In traditional research, funding, data sharing, and publication are usually managed by universities, governments, or big companies. These systems can sometimes slow down progress and limit who can take part in research.

DeSci aims to change this by using decentralized technologies, especially blockchain, to make research more open and accessible to everyone. It gives researchers more control over their work and allows them to collaborate easily with others, no matter where they are. Instead of relying on big institutions, DeSci encourages a system where research is more transparent and open to global participation.

#### **How Does Decentralized Science (DeSci) Work?**

**1. Decentralized Collaboration**

In traditional research, collaboration often happens within specific groups or institutions, which can be slow and limit who gets to work together. DeSci changes this by allowing researchers from all over the world to collaborate on the same platform. Blockchain keeps track of who contributes to the research and ensures that credit is given fairly. This makes it easier for researchers to share ideas and work together, speeding up the process of discovery.

**2. Open Access to Data**

In traditional research, access to data is often controlled by institutions or companies, which can limit who can use it. DeSci aims to make data open and accessible to everyone. Researchers can store their data on decentralized platforms, and anyone can access it, verify it, and build on it. This helps make research more transparent and reduces the chance of bias or manipulation in the data.

**3. Crowdfunding for Scientific Projects**

In traditional systems, research is often funded by grants or large organizations, which can be limited in scope. With DeSci, researchers can use decentralized crowdfunding to raise money directly from the public. This gives them the freedom to get support for their ideas from people around the world, making it easier for smaller projects to get funded. It also opens up research funding to a wider group of people, not just big institutions.

**4. Ownership of Intellectual Property (IP)**

Intellectual property (IP) in traditional research is often controlled by universities or companies. In DeSci, researchers can have more control over their IP by turning their discoveries into digital assets using blockchain technology. This helps ensure that researchers are credited for their work and gives them the ability to manage or license their IP directly, without going through a central authority.

#### **Risks and Challenges of Decentralized Science (DeSci)**

While DeSci has a lot of potential, there are also several challenges and risks.

**1. Unclear Regulations**

One of the biggest challenges is the lack of clear rules about how DeSci projects should operate. Scientific research and data sharing are regulated by laws in many countries, especially around intellectual property and data privacy. Since DeSci operates outside of traditional institutions, it can be difficult to know how to comply with these laws. Researchers will need to make sure they understand and follow the legal rules while using decentralized systems.

**2. Security Concerns**

Blockchain is known for being secure, but no system is completely without risk. DeSci platforms use smart contracts, which are self-executing programs on the blockchain. If these contracts have bugs or flaws, they could be exploited, putting research data or intellectual property at risk. It’s important for DeSci projects to ensure that their systems are secure to protect everyone involved.

**3. Privacy and Transparency Issues**

be changed or erased. While this is good for tracking data and ensuring it’s not tampered with, it can also raise privacy concerns. Researchers may not want to make certain data public too soon. Even though blockchain allows for control over who can access data, managing privacy in a decentralized system will still need careful attention.

**4. Scalability and Performance**

Blockchain technology can be slow and expensive when dealing with large amounts of data. Many areas of scientific research, like genomics or particle physics, involve massive datasets. Current blockchain systems may struggle to handle this data quickly and cost-effectively. For DeSci to work well on a large scale, these performance issues need to be solved.

DeSci is a new way of organizing scientific research that uses decentralized technology to make it more open, accessible, and transparent. It gives researchers more control over their work and allows them to collaborate easily with others worldwide. Funding and data are made more open, and researchers have more control over their discoveries.


However, there are still challenges to overcome. Issues with regulations, security, privacy, and scalability need to be addressed for DeSci to fully succeed. If these issues can be solved, DeSci could greatly change the way scientific research is conducted, making it more collaborative and efficient.

The Chef’s


Decentralized Science (DeSci) is a new way of doing scientific research using technology that removes the need for central control.

What is Decentralized Science (DeSci)? A New Approach to Scientific Research

PancakeSwap’s CAKE burn system is designed to help manage the total supply of CAKE by periodically burning (removing) a portion of the minted tokens. The goal is to burn more CAKE than minted, decreasing the token supply. This deflationary approach helps maintain a balanced supply, supporting the token’s long-term health and growth.

We understand that some users have questions about the recent changes to the burn format and how CAKE is managed. Let’s dive into these questions and give you a clearer picture of the key points so you can better understand how the CAKE burn system works and our updates.

## 1. How Does the New Burn Format (Introduced on March 24th, 2025) Work?

We switched to a **[simpler format](https://x.com/PancakeSwap/status/1904196792864125387)** to make it easier to understand the impact of burns on CAKE’s deflationary status. Previously, we reported large amounts of CAKE being burned each week (often over 9M CAKE), but this number only showed the total CAKE burned without factoring in the CAKE that was minted in the same week. As a result, it didn’t fully capture how much CAKE was actually being removed from circulation.

Now, we focus on Net Deflation as the key metric for CAKE’s tokenomics. This method provides a more accurate picture of how much CAKE is actually being reduced from the supply.

**Here’s how we calculate it:**

**Net CAKE Deflation =**
    CAKE Minted (Emitted) to products (like V2 pools, V3 pools, and Lottery)
    **Minus**
    CAKE Burned from products (like V2 pools, V3 pools, Lottery, Prediction, IFOs, and Perpetuals)
    
For example, our recent **[burn update](https://x.com/PancakeSwap/status/1904196792864125387)** reported a net deflation of -339k CAKE, effectively reducing CAKE’s current total supply by 339k, or -0.12%.

**Note:**

- The Ecosystem Growth Fund is excluded from this calculation until its tokens enter the market. Further details on this can be found in point (3) below.
- Products that generate fees and are processed monthly rather than weekly (e.g., Base pools, Ethereum pools, and IFO-related burns) will cause a sharp increase near the beginning or end of a month as these burns are accounted for

## 2. Burn Numbers from Week to Week

It’s not uncommon to see some variations between the burn numbers we reported and what is shown on platforms like **[Dune](https://dune.com/pancakeswap/PancakeSwap-CAKE-Tokenomics)**. This can happen because the amount of CAKE minted each week depends on when the trigger transactions are executed.

For example, CAKE burns take place regularly on Mondays, but since CAKE is minted at a rate of 40 CAKE per block, the amount of CAKE accumulated and sent for minting and burning can vary slightly depending on when the transaction is triggered.

If you look at the **[Dune Tokenomics chart](https://dune.com/pancakeswap/PancakeSwap-CAKE-Tokenomics),** you may notice an unusually large net_mint of -3.8M CAKE for the week of March 10th. While this figure is accurate on-chain, about 3M CAKE will be offset when the accumulated CAKE is minted to the **[Ecosystem Growth Fund](https://bscscan.com/address/0x91b3927f100Bb6c19E5434bFaBa07D60670b98D6)** during the next burn. As a result, the true net burn for the week of March 10th was around 800K CAKE.

To clarify, when the next burn occurs on Monday, March 31st, the total and circulating supply numbers on Dune will show an increase. However, this doesn’t represent an “additional mint.” **The only aspect the team can control is the burn — the minting process is governed by the blockchain and the timing of the transactions.**

![Screenshot 2025-03-26 at 18.34.52.png](https://sgp1.digitaloceanspaces.com/strapi.space/2a4608e4441cbef31b4109b7f2fdf026.png)

_[**PancakeSwap Tokenomics on Dune**](https://dune.com/pancakeswap/PancakeSwap-CAKE-Tokenomics)_

### 3. Ecosystem Growth Fund

The Ecosystem Growth Fund is not included in the net deflation calculation until its tokens are actually released into the market. This approach helps focus on the tokens that are actively being minted or burned in circulation, giving a clearer picture of CAKE’s real deflationary impact. Including tokens that haven’t entered the market yet could lead to confusion about how much CAKE is actually being reduced from supply.

Currently, the **[Ecosystem Growth Fund](https://bscscan.com/address/0x91b3927f100Bb6c19E5434bFaBa07D60670b98D6)** holds 830,625 CAKE, with a total of about 3.8M CAKE accumulated, 3M of which is stored in the MasterChef contract. The primary purpose of this fund is to support farm emissions, but most of this CAKE hasn’t been used yet. **Since 2024, less than 1% of the accumulated CAKE has been put to use, while 99% remains idle and hasn’t entered the market.** Including the full 3.8M CAKE in the calculation would overstate the amount of CAKE actually circulating.
![2.png](https://sgp1.digitaloceanspaces.com/strapi.space/5a54b44bd9c25228aaa4428fa653217c.png)

_**[Ecosystem Growth Fund Address](https://bscscan.com/address/0x91b3927f100Bb6c19E5434bFaBa07D60670b98D6)**_

**Example of Ecosystem Growth Fund Usage in the past year:**

- **Base Launch (Sep 2023)**: Redirected 0.015 CAKE per block from Ecosystem Growth to Base farms.
- **CB1 Airdrop**: Ongoing at $8,453 every two weeks. Transaction links: **[BSCScan](https://bscscan.com/tx/0x59e542febe942a979238b0de50f4d119fa93a856f4ee4d82fbfcc3359dd24933)**, **[Arbiscan](https://arbiscan.io/tx/0x0a91c6075a2cfd7cb5878272e07364bf518185d4c1372302d1b2bb8209c7e182)**, **[Basescan](https://basescan.org/tx/0x069c0fb5a6c098bd90f693b2ac040950024bcdcf3b0dcd81847be4039c7a9b26)**
- **Voting Proposal (Sep 2023)**: Redirect 0.4 CAKE per block from Ecosystem Growth to Burn, Burn the entire 3M that accumulated until this date. **[Proposal details](https://pancakeswap.finance/voting/proposal/0x45121903be7c520701d8d5536d2de29577367f2c84f39602026dc09ef1da8346)**
- **Locker Protocol Bribes**: 500 CAKE per day since April 23, 2024. **[Proposal link](https://pancakeswap.finance/voting/proposal/0x41feef37054b6c090a2629d6eb2ed39f426f169b725cb565903e6b3ba1771bcc)**
- **PancakeSwap Infinity**: Preparation for emissions (~1,200 CAKE per day).

As the fund’s CAKE may be used or burned in the future, excluding it from the current calculation reflects what is actively impacting the circulating supply. When these tokens actually enter the market, they will be considered in the supply, and their use will continue to align with the deflationary goal.

### **Future Improvements in Burn Reporting and Transparency**

To enhance transparency and provide users with a clearer view of the burn process, PancakeSwap will be taking the following steps:

- **Open-source Burn Dashboard**: We will be developing a dashboard where users can track all emissions and burns, along with their corresponding on-chain transaction hashes. This will allow users to verify the data easily and better understand the changes to CAKE's supply.
- **Simplified CAKE Tokenomics Documentation**: We will be revising the CAKE tokenomics documentation to provide clearer explanations and make it more user-friendly. The updated documentation will also include a list of all addresses involved in emitting or burning CAKE, offering users a transparent and accessible way to follow the process.

We hope this clarifies the CAKE burn system and answers your questions! As always, PancakeSwap is committed to improving transparency and making the process easier to understand. Stay tuned for more updates, and feel free to share any suggestions or concerns you may have.

The Chef’s

# **Appendix**

**A Step-by-Step Breakdown of How CAKE Minting and Burning Works**

To give you a clearer understanding of the entire process, here’s a simple breakdown of how CAKE is minted and burned:

**Minting**:

CAKE tokens are created through the **MasterChef contract**. Every block on the BNB Chain, **40 CAKE tokens** are minted. With **28,800 blocks per day**, CAKE is continuously minted throughout the day, but it doesn't happen all at once. Instead, the minted CAKE accumulates and is sent to the burn wallet when triggered.

**Burning**:

Every **Monday**, a portion of the minted CAKE is burned (permanently removed from circulation). Most of the tokens are burned directly, but a small portion is allocated toward rewards and ecosystem growth. The CAKE fees generated by PancakeSwap products (like farms, Lottery, etc.) are sent to a **[multisig wallet](https://bscscan.com/address/0xceba60280fb0ecd9a5a26a1552b90944770a4a0e)**, then transferred to a "burn address," which is permanently inaccessible, ensuring that the tokens are gone for good.

Here’s a snapshot of how this works:

**Example: Mint and Burn Transactions**

**[Mint Transaction](https://bscscan.com/tx/0xaadb2bd553d2d939b7a334ba8b61534a9f9b31ee9bf252310dbbfc0b56a92cd1) (March 21, 2025)**  - Automated via Chainlink Job to Fund MCV3:

![Screenshot 2025-03-26 at 18.43.13.png](https://sgp1.digitaloceanspaces.com/strapi.space/c78bbec7c2706076f2986478d765edf0.png)

- **Burn Address (4a0e)**: 838,904 CAKE (dev mint, all burned, not transferred anywhere else)
- **Main Staking Contract V2**: 8,379,697 CAKE (40 CAKE per block, majority burned)
- The gap between the mint (8,379,697 CAKE) and the transfer from the MasterChef v2 contract (7,751,273 CAKE) represents the remaining balance in the **[MasterChef v2 contract](https://bscscan.com/address/0xa5f8c5dbd5f286960b9d90548680ae5ebff07652)** (currently 533,278 CAKE), which is used for emissions (like Farms or Lottery rewards).

**[Burn Transaction](https://bscscan.com/tx/0xc676173e2a416fc9107c9b6e72127da215dbae1c9e25818e79e99decf56957d2) (March 24, 2025):**

![Screenshot 2025-03-26 at 18.43.18.png](https://sgp1.digitaloceanspaces.com/strapi.space/2011cc6dc027003dbf2f4c60ad5e3044.png)

- Most of the 40 CAKE minted per block (38.637 CAKE) is burned directly.
- 1.363 CAKE is allocated to V2 and V3 farm emissions, Lottery rewards, and the Ecosystem Growth Fund.
- Finally, all the accumulated burn fees are transferred from the burn multisig (4a0e) to the Burn Address, which is permanently inaccessible.

This process helps reduce the total supply of CAKE over time, supporting its deflationary mechanics.

Let’s dive into how the CAKE burn system works and our updates

PancakeSwap CAKE Burn Mechanics: A Comprehensive Guide

**Disclaimer and Risk Warning:** This content is for general information and educational purposes only, without representation or warranty. It should not be construed as financial, legal, or other professional advice, nor intended to recommend purchasing any specific product or service. You should seek advice from appropriate professional advisors.

We're excited to launch a **$50,000 trading competition** in collaboration with **[MERL (Merlin Chain)](https://merlinchain.io)**. You can trade MERL to compete for prizes and win rewards while trading on the **[PancakeSwap Swap Page (Web interface)](https://pancakeswap.finance/swap?inputCurrency=BNB&outputCurrency=0xa0c56a8c0692bD10B3fA8f8bA79Cf5332B7107F9)** and the **[PancakeSwap Telegram Swap-Bot](https://t.me/pancakefi_bot)**.

#### **Campaign Duration:**

**Start:** March 26, 2025, 10:00 UTC

**End:** April 14, 2025, 23:59 UTC

**MERL Official Contract Address:** **[MERL Contract on BSCScan](https://bscscan.com/token/0xa0c56a8c0692bD10B3fA8f8bA79Cf5332B7107F9)**

#### **How to Participate & Win:**

The campaign consists of **two** exciting parts. Here's how you can qualify for the rewards:

**Part 1: Tiered Lucky Winners – $45,000 in MERL**

- To qualify for the random draw, trade at least **$500 USD in MERL pairs** on the **[PancakeSwap Swap Page (Web interface)](https://pancakeswap.finance/swap?inputCurrency=BNB&outputCurrency=0xa0c56a8c0692bD10B3fA8f8bA79Cf5332B7107F9)** during the campaign period. 
- The minimum volume can be achieved through a **single trade** or **multiple trades** in MERL pairs.
- Only trades made on the **[PancakeSwap Swap Page (Web interface)](https://pancakeswap.finance/swap?inputCurrency=BNB&outputCurrency=0xa0c56a8c0692bD10B3fA8f8bA79Cf5332B7107F9)** are eligible. Trades made through the **[Telegram Swap Bot](https://t.me/pancakefi_bot)** **will not be considered** for this prize.

**Tiers & Rewards:**

**Tier 1:** Trade **$500+** → **150 random lucky winners** get **$100 each** (**Total: $15,000**)

**Tier 2:** Trade **$1,000+** → **75 random lucky winners** get **$200 each** (**Total: $15,000**)

**Tier 3:** Trade **$3,000+** → **15 random lucky winners** get **$1,000 each** (**Total: $15,000**)

**Important Note:**

- Each wallet address can only win **one prize** across all three tiers. 
- **Tier 3 Qualifiers:** If you qualify for Tier 3 (trading over $3,000), your wallet will first be drawn for **Tier 3**. If you don’t win the Tier 3 prize, your wallet will be considered for the **Tier 2** draw. If you don’t win there, you will be considered for a **Tier 1** draw.
- **Tier 2 Qualifiers:** If you qualify for **Tier 2** (trading over $1,000) but not Tier 3, your wallet will first be drawn for **Tier 2**. If you don’t win the Tier 2 prize, you will be considered for **Tier 1** draw.
- **Example:** If you trade over $3,000, your wallet will first be drawn for **Tier 3**. If you don’t win there, you will be eligible to be drawn for **Tier 2**, and then if you don’t win in Tier 2, your wallet will be considered for **Tier 1** draw. Similarly, if you trade $1,000 or more but less than $3,000, you will first be drawn for **Tier 2**, and if you don’t win, you will be eligible for **Tier 1** draw.

**Part 2: PancakeSwap Telegram Swap Bot – $5,000 in MERL**

Trade at least **$500 USD in MERL pairs** on the **[PancakeSwap Telegram Swap Bot](https://t.me/pancakefi_bot)** during the campaign period to qualify for a lucky draw! **50 lucky winners** will each win **USD 100 in MERL ($5,000 total)**.

**To qualify:**
- Trade at least **$500 USD** in MERL trading pairs through the **[PancakeSwap Telegram Swap Bot](https://t.me/pancakefi_bot)** during the campaign period. This can be achieved through a **single trade** or **multiple trades** in MERL pairs.
- Only trades executed through the **[PancakeSwap Telegram Swap Bot](https://t.me/pancakefi_bot)** will count towards this part of the competition. Trades made on the **[PancakeSwap Swap Page (Web interface)](https://pancakeswap.finance/swap?inputCurrency=BNB&outputCurrency=0xa0c56a8c0692bD10B3fA8f8bA79Cf5332B7107F9)** **are not eligible**.
- Swap MERL on the Telegram Bot here: **[PancakeSwap Telegram Bot](https://t.me/pancakefi_bot)**.

**Terms & Conditions**

- All qualifying trades must involve **MERL tokens**. Only trades in **MERL trading pairs** will be considered. Trades in pairs that do not include MERL will not count toward any part of this campaign. 
- **Part 1:** Only trades made on the **[PancakeSwap Swap Page (Web Version)](https://pancakeswap.finance/swap?inputCurrency=BNB&outputCurrency=0xa0c56a8c0692bD10B3fA8f8bA79Cf5332B7107F9)** (including both **V2** and **V3** interfaces) qualify. Trades made through external aggregators or platforms (e.g., 1inch, or other decentralized exchanges) **will not** count towards this campaign. 
- **Part 1:** The **[PancakeSwap Swap Page (Web interface)](https://pancakeswap.finance/swap?inputCurrency=BNB&outputCurrency=0xa0c56a8c0692bD10B3fA8f8bA79Cf5332B7107F9)** refers to trades made through the **[PancakeSwap FE router](https://bscscan.com/address/0x1a0a18ac4becddbd6389559687d1a73d8927e416)**. Trades made through external aggregators or platforms (e.g., 1inch, or other decentralized exchanges) **will not** count towards this campaign. 
- **Part 2:** Only trades on the **[PancakeSwap Telegram Swap Bot](https://t.me/pancakefi_bot)** qualify. The **[PancakeSwap Telegram Swap Bot](https://t.me/pancakefi_bot)** refers to trades made through the **[PancakeSwap TG Bot router](https://bscscan.com/address/0x9521c975e163c3f3722e67a921079d51cfc67bd5)**. Trades made on the **[PancakeSwap Swap Page (Web interface)](https://pancakeswap.finance/swap?inputCurrency=BNB&outputCurrency=0xa0c56a8c0692bD10B3fA8f8bA79Cf5332B7107F9)** **do not** count for this part of the competition.
- Each wallet address can win a **maximum of one reward in Part 1**. 
- All the rewards will be distributed in **MERL tokens** within **4 weeks** after the campaign ends.
- In PancakeSwap's absolute opinion, any trades executed through bad trading practices, including, but not limited to, wash trades, false trading, self-dealing, or trades that display any attributes of market manipulation ("Disqualified Trades"), will not be counted toward this campaign.
- PancakeSwap reserves the right to cancel, suspend, or postpone the Campaign or amend the Campaign rules at our sole discretion without notice to you.
- PancakeSwap will disqualify any entry from participants who do not meet the eligibility requirements as solely and absolutely determined by PancakeSwap. 
- In the event of any dispute, PancakeSwap reserves the right to make all final decisions regarding the Giveaway.
- The information provided here is not intended as financial advice. It does not constitute a solicitation, recommendation, endorsement, or offer by PancakeSwap to buy, sell, or invest in any digital assets. Cryptocurrencies carry significant risks, including the potential loss of your entire investment. We strongly recommend seeking professional advice before making any financial, investment, or trading decisions.

##### **Start Trading Now!**

Trade MERL on PancakeSwap: **[PancakeSwap Web](https://pancakeswap.finance/swap?inputCurrency=BNB&outputCurrency=0xa0c56a8c0692bD10B3fA8f8bA79Cf5332B7107F9)**

Use the PancakeSwap Telegram Swap Bot: **[Telegram Bot](https://t.me/pancakefi_bot)**

Good luck, and may the best traders win!




We're excited to launch a $50,000 trading competition in collaboration with MERL (Merlin Chain).

PancakeSwap x MERL Trading Competition – $50,000 in Rewards

**Disclaimer and Risk Warning:** _This content is for general information and educational purposes only, without representation or warranty. It should not be construed as financial, legal, or other professional advice, nor intended to recommend purchasing any specific product or service. You should seek advice from appropriate professional advisors._

Layer 2 (L2) solutions are technologies built on top of Layer 1 blockchains, like Ethereum, to enhance scalability, reduce transaction costs, and improve performance. These solutions aim to address the limitations of Layer 1, particularly issues like high gas fees and slow transaction speeds, while still maintaining the security and decentralization of the base layer. Here’s a breakdown of the key features and factors of L2 solutions.

##### **1. Types of Layer 2 Solutions**

Layer 2 solutions can be categorized into several types, with the most common being rollups. Rollups process transactions off-chain while storing the data on-chain, which ensures security.

- **Optimistic Rollups:** 
Optimistic rollups (e.g., Arbitrum, Optimism) assume transactions are valid unless disputed. They use a "challenge period," where users can contest transactions, and if no challenge occurs, the transaction is finalized.

- **Zero-Knowledge Rollups (ZK-Rollups):**
ZK-rollups (e.g., zkSync, Starknet) use cryptographic proofs to instantly verify transactions.
 
- **State Channels:**
State channels (e.g. Lightning Network for Bitcoin) allow users to conduct multiple transactions off-chain, only settling on-chain once the interactions are completed. 

- **Plasma:**
Plasma is a framework for creating child chains that offload transaction data from the main Ethereum chain. It uses a system of smart contracts to handle transaction processing off-chain, periodically submitting data to the Ethereum main chain.

##### **2. Security Features**

L2 solutions inherit their security from the underlying Layer 1 blockchain, but they also have their own security mechanisms depending on their design.

- **Validation Mechanisms:**
Optimistic rollups rely on a fraud-proof system where transactions are assumed to be valid unless disputed. In contrast, ZK-rollups use validity proofs, meaning transactions are verified through cryptographic evidence.

- **Bridge Security:**
Many L2s use bridges to transfer assets between Layer 1 and Layer 2 networks. Decentralized bridges often use cryptographic proofs to ensure trust-minimized security when transferring assets.

##### **3. Ecosystem and Developer Adoption**

The strength of an L2’s ecosystem and the tools available for developers are important for the platform's adoption and longevity.

- **DApp Ecosystem:**
Popular Layer 2 solutions support a variety of decentralized applications (DApps), such as those in DeFi, NFTs, and gaming. L2 platforms like Arbitrum, Optimism, and Base are integrated with leading DApps, providing a wide range of use cases for users.

- **Developer Tools and SDKs:**
Layer 2 solutions provide developer tools like software development kits (SDKs) and APIs to simplify building on the platform. L2 solutions that offer robust developer support and are compatible with Ethereum’s smart contract system (EVM) tend to encourage more developer activity.

##### **4. Governance and Decentralization**

Governance and decentralization are key aspects of Layer 2 solutions, ensuring transparency and user involvement.

- **Governance Models:**
Layer 2 solutions often implement governance models that allow users and stakeholders to participate in decision-making processes. These governance systems can cover protocol upgrades, fee structures, and other key parameters, ensuring community involvement.

##### **5. Interoperability and Cross-Chain Compatibility**

L2 solutions are increasingly designed to interact seamlessly with multiple blockchain networks, making them more flexible in a multi-chain ecosystem.

- **Bridges and Cross-Chain Solutions:**
L2 solutions often rely on bridges to enable the transfer of assets between different chains. These bridges may be native to the Layer 2 network or provided by third-party services like LayerZero or Axelar. Cross-chain compatibility expands the accessibility of L2 solutions, allowing users to interact across different ecosystems.

- **Multi-Chain Compatibility:**
Some Layer 2 solutions are built to work across multiple blockchains, giving users and developers more flexibility. By supporting several ecosystems, L2 platforms can facilitate more diverse interactions and broaden their scope of use.

##### **6. Use Cases for Layer 2 Solutions**

Layer 2 solutions are particularly beneficial for applications that require low fees, high throughput, and fast transactions.

- **DeFi (Decentralized Finance):**
DeFi applications are increasingly utilizing Layer 2 networks to provide more efficient trading, lending, and borrowing options, reducing the transaction costs and congestion that can be seen on Layer 1 networks.

- **NFTs (Non-Fungible Tokens):**
NFTs benefit from Layer 2 solutions by reducing the high gas fees associated with minting and trading, making these activities more accessible to a larger audience.

- **Gaming:**
The gaming industry can leverage Layer 2 solutions to enable seamless in-game transactions with minimal latency, improving the player experience for games that require frequent, low-cost transactions.

In summary, Layer 2 solutions help improve blockchain scalability, transaction speed, and cost-efficiency, while maintaining security. With a variety of solutions available, each with distinct features, understanding the mechanisms of different L2 options is important for those engaging with blockchain technology. As the space continues to evolve, Layer 2 solutions are likely to have a significant impact on the future of decentralized applications and blockchain networks.

The Chef’s



Layer 2 (L2) solutions are technologies built on top of Layer 1 blockchains, like Ethereum, to enhance scalability, reduce transaction costs, and improve performance.

Understanding Layer 2 (L2) Solutions: Key Facts You Need to Know

**Disclaimer and Risk Warning:** This content is for general information and educational purposes only, without representation or warranty. It should not be construed as financial, legal, or other professional advice, nor intended to recommend purchasing any specific product or service. You should seek advice from appropriate professional advisors.

We're excited to launch a **$75,000 trading competition** in collaboration with **[EOS (EOS Network)](https://eosnetwork.com)**. You can trade EOS to compete for prizes and win rewards while trading on the **[PancakeSwap Swap Page (Web interface)](https://pancakeswap.finance/swap?outputCurrency=0x56b6fB708fC5732DEC1Afc8D8556423A2EDcCbD6&inputCurrency=BNB)** and the **[PancakeSwap Telegram Swap-Bot](https://t.me/pancakefi_bot)**.

**What is the EOS Network?**
EOS Network (recently rebranded as Vaulta) is a Web3 Banking network bridging traditional finance with decentralised digital assets. Programmable smart contracts can facilitate borderless transactions, fee-efficient settlements, and scalable yield mechanisms—seamlessly integrating Bitcoin’s liquidity with cross-chain interoperability. Vaulta democratizes access to institutional-grade DeFi tools, empowering institutions, developers and users to innovate in a trustless, globally accessible ecosystem.

**Campaign Duration:**

**Start:** March 19, 2025, 10:00 UTC

**End:** April 7, 2025, 23:59 UTC

**EOS Official Contract Address:** **[EOS Contract on BSCScan](https://bscscan.com/address/0x56b6fb708fc5732dec1afc8d8556423a2edccbd6)**

##### **How to Participate & Win:**

The campaign consists of **two** exciting parts. Here's how you can qualify for the rewards:

**Part 1: Tiered Lucky Winners – $55,000 in EOS**

- To qualify for the random draw, trade at least **$500 USD in EOS pairs** on the **[PancakeSwap Swap Page (Web interface)](https://pancakeswap.finance/swap?outputCurrency=0x56b6fB708fC5732DEC1Afc8D8556423A2EDcCbD6&inputCurrency=BNB)** during the campaign period. 
- The minimum volume can be achieved through a **single trade** or **multiple trades** in EOS pairs.
- Only trades made on the **[PancakeSwap Swap Page (Web interface)](https://pancakeswap.finance/swap?outputCurrency=0x56b6fB708fC5732DEC1Afc8D8556423A2EDcCbD6&inputCurrency=BNB)** are eligible. Trades made through the **[Telegram Swap Bot](https://t.me/pancakefi_bot)** **will not be considered** for this prize.

**Tiers & Rewards:**

**Tier 1:** Trade **$500+** → **200 lucky winners** get **$100 each** (**Total: $20,000**)

**Tier 2:** Trade **$1,000+** → **100 lucky winners** get **$200 each** (**Total: $20,000**)

**Tier 3:** Trade **$3,000+** → **15 lucky winners** get **$1,000 each** (**Total: $15,000**)

**Important Note:**

- Each wallet address can only win **one prize** across all three tiers. 
- **Tier 3 Qualifiers:** If you qualify for Tier 3 (trading over $3,000), your wallet will first be drawn for **Tier 3.** If you don’t win the Tier 3 prize, your wallet will be considered for the **Tier 2** draw. If you don’t win there, you will be considered for **Tier 1**.
- **Tier 2 Qualifiers:** If you qualify for **Tier 2** (trading over $1,000) but not Tier 3, your wallet will first be drawn for **Tier 2**. If you don’t win the Tier 2 prize, you will be considered for **Tier 1**.
- **Example:** If you trade over $3,000, your wallet will first be drawn for **Tier 3**. If you don’t win there, you will be eligible to be drawn for **Tier 2**, and then if you don’t win in Tier 2, your wallet will be considered for **Tier 1**. Similarly, if you trade $1,000 or more but less than $3,000, you will first be drawn for **Tier 2**, and if you don’t win, you will be eligible for **Tier 1**.

**Part 2: PancakeSwap Telegram Swap Bot – $20,000 in EOS**

Trade at least **$500 USD in EOS pairs** on the **[PancakeSwap Telegram Swap Bot](https://t.me/pancakefi_bot)** during the campaign period to qualify for a lucky draw! **200 lucky winners** will each win **USD 100 in EOS** (**$20,000 total**).

**To qualify:**

- Trade at least **$500 USD in EOS** trading pairs through the **[PancakeSwap Telegram Swap Bot](https://t.me/pancakefi_bot)** during the campaign period. This can be achieved through a **single trade** or **multiple trades** in EOS pairs.
- Only trades executed through the **[PancakeSwap Telegram Swap Bot](https://t.me/pancakefi_bot)** will count towards this part of the competition. Trades made on the **[PancakeSwap Swap Page (Web interface)](https://pancakeswap.finance/swap?outputCurrency=0x56b6fB708fC5732DEC1Afc8D8556423A2EDcCbD6&inputCurrency=BNB)** **are not eligible**.
- Swap EOS on the Telegram Bot here: **[PancakeSwap Telegram Bot](https://t.me/pancakefi_bot)**.

**Terms & Conditions**

- All qualifying trades must involve **EOS tokens**. Only trades in **EOS trading pairs** will be considered. Trades in pairs that do not include EOS will not count toward any part of this campaign. 
- **Part 1:** Only trades made on the **[PancakeSwap Swap Page (Web Version)](https://pancakeswap.finance/swap?outputCurrency=0x56b6fB708fC5732DEC1Afc8D8556423A2EDcCbD6&inputCurrency=BNB)** (including both **V2** and **V3** interfaces) qualify. Trades made through external aggregators or platforms (e.g., 1inch, or other decentralized exchanges) **will not count** towards this campaign. 
- **Part 1:** The **[PancakeSwap Swap Page (Web interface)](https://pancakeswap.finance/swap?outputCurrency=0x56b6fB708fC5732DEC1Afc8D8556423A2EDcCbD6&inputCurrency=BNB)** refers to trades made through the **[PancakeSwap FE router](https://bscscan.com/address/0x1a0a18ac4becddbd6389559687d1a73d8927e416)**. Trades made through external aggregators or platforms (e.g., 1inch, or other decentralized exchanges) **will not count** towards this campaign. 
- **Part 2:** Only trades on the **[PancakeSwap Telegram Swap Bot](https://t.me/pancakefi_bot)** qualify. The **[PancakeSwap Telegram Swap Bot](https://t.me/pancakefi_bot)** refers to trades made through the **[PancakeSwap TG Bot router](https://bscscan.com/address/0x9521c975e163c3f3722e67a921079d51cfc67bd5)**. Trades made on the **[PancakeSwap Swap Page (Web interface)](https://pancakeswap.finance/swap?outputCurrency=0x56b6fB708fC5732DEC1Afc8D8556423A2EDcCbD6&inputCurrency=BNB)** **do not count** for this part of the competition.
- Each wallet address can win a **maximum of one reward in Part 1**. 
- All the rewards will be distributed in **EOS tokens** within **4 weeks** after the campaign ends.
- In PancakeSwap's absolute opinion, any trades executed through bad trading practices, including, but not limited to, wash trades, false trading, self-dealing, or trades that display any attributes of market manipulation ("Disqualified Trades"), will not be counted toward this campaign.
- PancakeSwap reserves the right to cancel, suspend, or postpone the Campaign or amend the Campaign rules at our sole discretion without notice to you.
- PancakeSwap will disqualify any entry from participants who do not meet the eligibility requirements as solely and absolutely determined by PancakeSwap. 
- In the event of any dispute, PancakeSwap reserves the right to make all final decisions regarding the Giveaway.
- The information provided here is not intended as financial advice. It does not constitute a solicitation, recommendation, endorsement, or offer by PancakeSwap to buy, sell, or invest in any digital assets. Cryptocurrencies carry significant risks, including the potential loss of your entire investment. We strongly recommend seeking professional advice before making any financial, investment, or trading decisions.


**Start Trading Now!**

Trade EOS on PancakeSwap: **[PancakeSwap Web](https://pancakeswap.finance/swap?outputCurrency=0x56b6fB708fC5732DEC1Afc8D8556423A2EDcCbD6&inputCurrency=BNB)**

Use the PancakeSwap Telegram Swap Bot: **[Telegram Bot](https://t.me/pancakefi_bot)**

Good luck, and may the best traders win!




We're excited to launch a $75,000 trading competition in collaboration with EOS (EOS Network). 

CAKE Total Supply Reduction:

Achieving CAKE Total Supply Reduction through Net Minting:

April Mint Breakdown

April Burn Categories

Proof of Burn for April: