July 2024: PancakeSwap's CAKE Burn Report
Ecosystem
2024-08-09

Our July 2024 report explores the CAKE token supply management world on PancakeSwap. Learn how PancakeSwap reduces the total supply of CAKE through strategic burns and the pursuit of ultrasound CAKE.

CAKE Total Supply Reduction:

As of 7th August, 2024, PancakeSwap has successfully burned -0.093% of the CAKE total supply for July 2024. To calculate this percentage, we divided the total net mint of -357,707 CAKE by the initial total CAKE supply on July 1 2024. This marks the eleventh consecutive month of CAKE total supply reduction, with a cumulative -3,549,758 CAKE net mint over September, October, November, December 2023, January, February, March, April, May, June, July 2024.

Achieving CAKE Total Supply Reduction through Net Minting:

In July 2024, PancakeSwap achieved a net mint of -357,707 Cake This negative net mint indicates that more CAKE tokens were burned than minted during the month.

July Mint Breakdown

  • Farms: 829,035
  • CAKE Syrup Pool: 72,882
  • Other Product Usage: 123,957
  • Total July Mint: 1,025,874

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.

July Burn Categories

  • Swaps and Perpetual Trading Fees: 957,831
  • Prediction: 301,431
  • Pancake Protectors: 3,216
  • Lottery, NFT Market, Profile & Factory: 121,104
  • Total July Burn: 1,383,581

Note: To ensure accuracy, we pro-rate weekly CAKE burns over two months. For example, burns occurring at the end of July and stretching into August receive a proportionate allocation between the two months.

Proof of Burn for July:

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