October 2023: PancakeSwap's CAKE Burn
Ecosystem
Chef’s choice
2023-11-07

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:

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