PancakeSwap initiated a governance vote on "The Flip," a proposal to increase the share of swap fees distributed to liquidity providers in V3 and Infinity pools to 88 percent from the current 66 to 68 percent. The proposal also cuts daily CAKE token emissions by approximately 69 percent, from 22,500 to 7,000 tokens.
The vote opened Oct. 21 and concludes Oct. 24. Implementation is expected in November if approved.
The governance initiative follows substantial growth for the decentralized exchange. PancakeSwap's TVL increased 19 percent over the past week, adding approximately $380 million to reach $2.4 billion as of Oct. 21, up from $2.02 billion on Oct. 14.
The expansion was concentrated in V3 liquidity pools, which more than doubled from $336 million to approximately $739 million.
PancakeSwap processed about $4.67 billion in DEX trading volume over the past seven days, accounting for approximately 71 percent of BNB Chain's total DEX activity. Roughly $2.33 billion of its $2.40 billion TVL resides on BNB Chain.
BNB Chain's overall TVL rose approximately 8.3 percent over the past seven days to $5.84 billion. DEX trading volume across the network surged 40.2 percent to $6.54 billion during the same period. Stablecoin market capitalization on BNB Chain declined 0.6 percent to $13.1 billion.
PancakeSwap has supported Binance's bStocks since June, enabling on-chain trading of tokenized U.S. stocks. Binance announced Oct. 15 that bStocks surpassed $1 billion in assets under management approximately four months after launch, with cumulative trading volume exceeding $40 billion and 11.2 percent of total value deployed in DeFi as of early October.
