PancakeSwap's total value locked grew nearly 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 growth coincided with PancakeSwap opening a governance vote on "The Flip," a proposal to restructure fee distribution and reduce token emissions.
Under the proposal, liquidity providers would receive 88 percent of swap fees on V3 and Infinity pools, up from the current 66 to 68 percent on most pools. Daily CAKE token emissions would decrease by approximately 69 percent, falling from 22,500 to 7,000 tokens per day.
Voting commenced on Oct. 21 and concludes Oct. 24, with implementation targeted for November if approved.
PancakeSwap's V3 liquidity pools drove the TVL surge, more than doubling to $739 million from $336 million during the week.
On BNB Chain, PancakeSwap processed approximately $4.67 billion in DEX volume over seven days, representing roughly 71 percent of the network's total DEX activity. The protocol's BNB Chain presence accounts for approximately $2.33 billion of its $2.40 billion total TVL.
BNB Chain's broader DeFi ecosystem expanded, with total TVL climbing 8.3 percent to $5.84 billion over the week. DEX trading volume surged 40.2 percent to $6.54 billion, while stablecoin market capitalization declined 0.6 percent to $13.1 billion.
PancakeSwap has extended into tokenized assets, supporting Binance's bStocks since June for on-chain U.S. stock trading. Binance reported Oct. 15 that bStocks surpassed $1 billion in assets under management approximately four months after launch, with $40 billion in cumulative trading volume. As of early October, 11.2 percent of bStocks value was deployed in DeFi.
