Pancakeswap Releases Roadmap for Q3 2022
- There are various incredible items that Pancakeswap plans to achieve in this quarter.
Popular decentralized exchange (DEX), Pancakeswap, has released its roadmap for this quarter. The AMM provided a summary of its roadmap via Twitter on July 14. Pancakeswap has four main projects it intends to accomplish in Q3.
PancakeSwap Planned Activities
They are fixed-term staking benefits (such as weighted voting power), lottery upgrades, especially lottery by staking, multi-chain and stablecoin swap. The stablecoin swap will involve a better stablecoin-focused swap experience. Besides these new projects, the AMM won’t neglect its ongoing projects.
There will still be regular IFOs (Initial Farm Offerings), farm auctions, and Performance Upgrades. The tweet also revealed some of the features it has completed. Such features include CAKE prediction, zap (a 1-click liquidity offer), Binance multi-chain upgrades, and CAKE syrup side pool. This side pool is a flexible CAKE staking along with locked staking.
The AMM platform also announced that it would hold an ask-me-anything (AMA) session on Twitter’s space on July 20. During this ama, the Pancakeswap team will discuss the Q3 roadmap in detail. It will also answer any questions from the members of the community.
Surprisingly, the Pancakeswap team didn’t share any information about NFT utility or NFT-based gamification in this roadmap. Besides being a DEX built on the Binance Smart Chain, Pancakeswap also runs an automated market maker (AMM) model for swapping BEP-20 tokens.
According to the latest Coinmarketcap data, the DEX’s native token (CAKE) is up 2.31 percent in the last 24 hours and trades at $313. This positive news may be the reason for the slight surge in CAKE’s price. Its current supply circulation is 145.47 million, its market cap is $454 million, and it ranks number 78 on the Coinmarketcap rankings for cryptos.
CAKE Tokens’ Supply
Last month, Pancakeswap developers submitted a proposal to be voted on. The proposal aims to lower the number of CAKE tokens sent to farm pools directly on the DEX. Thus, there would be a reduction in the issuance of CAKE tokens. Then, the CAKE token won’t be liable to inflation.
However, this move will hurt the farms’ annual interest rate and staking pools linked with the CAKE. Controlling token inflation is highly important in the crypto space. Limiting a token’s supply is one way of controlling the inflation of such a token. It also boosts the value of such tokens rather than making their supply limitless.
For instance, there is a maximum supply of CAKE tokens. This limit in supply encourages users to offer liquidity. This is important since the performance of any token on exchanges depends on the liquidity available.
Hence, it is no wonder the Pancakeswap team usually encourages CAKE holders to pour their tokens into Pancakeswap pools. Otherwise, they would lose 30 percent of their CAKE’s value yearly.
Rebecca is a Senior Staff Writer at BitcoinWisdom, working hard to bring you the latest breaking news in the cryptocurrency market. In the words of Elon Musk “Buy stock in several companies that make products & services that *you* believe in. Only sell if you think their products & services are trending worse. Don’t panic when the market does. This will serve you well in the long-term.”
