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The bankruptcy of FTX, which was once one of the leading exchanges, and the lawsuits filed by the SEC against exchanges such as Coinbase and Binance, caused investors to turn to decentralized exchanges while breaking trust.
One of them was PancakeSwap.
PancakeSwap took a beating and announced that it will share transaction fee revenue with stakers.
PancakeSwap is preparing to share some of its transaction fee revenue with stakers of its native token CAKE to enable its users to earn more rewards.
Accordingly, the exchange said that from August 9, fixed-term CAKE shareholders will receive 5% of trading fee revenues (with 0.01% and 0.05% fee tiers) from all PancakeSwap v3 pairs on a recurring and weekly basis.
It has been stated that these two fee tiers account for 80-90% of PancakeSwap v3 transaction volumes.
Chef Mochi, chief executive of PancakeSwap, said in a statement:
“Revenue sharing more directly links the CAKE token to the growth of PancakeSwap as a protocol.
As such, the rewards for CAKE stakers are tied to the growth of PancakeSwap and it is intended to be a long-term initiative that grows with the protocol.”
CAKE price, which rose 10% after the news, experienced a sudden pullback. 97% of the CAKE peak, which had no presence in 2023, continues to be traded.
*Not investment advice.