PancakeSwap has opened community voting on a proposal called The Flip, which would increase the share of swap fees allocated to liquidity providers from 66-68% to 88% across V3 and Infinity pools. Voting opened on October 21 and runs through October 24. If the community approves the proposal, the phased rollout is expected to begin in November.
The proposal also aims to reduce daily CAKE emissions from 22,500 to 7,000 tokens, a decrease of approximately 69%, while using non-stablecoin protocol fees for CAKE buybacks to help protect CAKE burns.
The vote has already coincided with a sharp increase in activity. PancakeSwap's total value locked rose nearly 19% in one week to $2.4 billion, adding around $380 million since October 14. TVL in V3 pools more than doubled, climbing from $336 million to $739 million.
PancakeSwap remains the dominant DEX on BNB Chain, processing $4.67 billion in trading volume over the past seven days, accounting for approximately 71% of the network's DEX volume. BNB Chain's TVL increased 8.3% to $5.84 billion, while its DEX trading volume rose 40.2% to $6.54 billion.
CAKE was trading near $2.25, up 2.5% over 24 hours, with trading volume approaching $32 million. The outcome of the governance vote may significantly influence liquidity provider engagement, CAKE supply dynamics, and future trading activity on PancakeSwap.
