January 2024: PancakeSwap's CAKE Burn
Chef’s choice

In our January 2024 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 February 6th, 2024, PancakeSwap has successfully burned 0.046% of the CAKE total supply for January 2024. To calculate this percentage, we divided the total net mint of -178,547 CAKE by the initial total CAKE supply on December 26th, 2023. This marks the fifth consecutive months of CAKE total supply reduction, with a cumulative -1,276,994 CAKE net mint over September, October, November, December 2023, and January 2024.

Achieving CAKE Total Supply Reduction through Net Minting:

In January 2024, PancakeSwap achieved a net mint of -178,547. This negative net mint indicates that more CAKE tokens were burned than minted during the month.

January Mint Breakdown

  • Farms: 745,393 CAKE
  • CAKE Syrup Pool: 194,848
  • Other Product Usage: 123,962
  • Total January Mint: 1,064,202

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.

January Burn Categories

  • Swaps and Perpetual Trading Fees: 904,238 CAKE
  • Prediction: 167,781 CAKE
  • Pancake Protectors: 9,863 CAKE
  • Lottery, NFT Market, Profile & Factory: 134,119 CAKE
  • IFO 26,748
  • Total January Burn: 1,242,749 CAKE

Note: We pro-rate weekly CAKE burns over two months to ensure accuracy. For example, burns occurring at the end of January and stretching into February receive a proportionate allocation between the two months.

Proof of Burn for January:

How does it work?
Learn basics of PancakeSwap
Trade tokens, earn rewards and play to win!