The largest veCAKE holder Cakepie questions PancakeSwap's removal of veCAKE in the new tokenomics.

WuSaidBlockchainW · 2025-04-09T09:57:35+00:00

Wu said that Cakepie, the largest holder of veCAKE, questioned PancakeSwap's removal of veCAKE in the new tokenomics and said that the removal of veCAKE would be a devastating blow to the long-aligned projects of Cakepie and PancakSwap. Removing veCAKE will introduce the risk of impaired trust, loss of voting incentives, reduced attractiveness of the new protocol, loss of income for CAKE holders, token selling pressure and increased volatility, decentralized governance erosion, and unsustainable burn models. In addition, Cakepie believes that this is an organized governance attack, with around 25 million CAKE suddenly locked in multiple wallets before this proposal was announced.

WuSaidBlockchainW

2025-04-09 09:57:35

According to Wu, the largest veCAKE holder Cakepie questions PancakeSwap’s removal of veCAKE in the new tokenomics and states that the removal of veCAKE will have a devastating impact on long-term aligned projects of Cakepie and PancakeSwap. The removal of veCAKE will lead to damaged trust, loss of voting incentives, reduced attractiveness of new protocols, income loss for CAKE holders, sell pressure on tokens, increased volatility, erosion of decentralized governance, and risks of unsustainable burning models. Furthermore, Cakepie believes this is an organized governance attack, as approximately 25 million CAKE were suddenly locked in multiple wallets before the announcement of this proposal.

CKP0.91%

CAKE4.09%

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