PancakeSwap's total value locked rose 19 percent over the past week to $2.4 billion, adding approximately $380 million, according to DefiLlama data. V3 liquidity pools drove the surge, more than doubling to $739 million from $336 million.
The growth coincides with an active governance vote on "The Flip," a proposal to increase the LP fee share in V3 and Infinity pools to 88 percent from the current 66 to 68 percent on most pools. The proposal also includes a plan to reduce daily CAKE token emissions by approximately 69 percent, from 22,500 tokens to 7,000.
Voting opened Oct. 21 and concludes Oct. 24. If approved, changes are expected to begin in November.
PancakeSwap commanded $4.67 billion in DEX volume over the past seven days, representing 71 percent of BNB Chain's total DEX trading volume. Approximately $2.33 billion of its $2.40 billion TVL resides on BNB Chain.
BNB Chain's total TVL climbed 8.3 percent to $5.84 billion over the same period. DEX trading volume on the network surged 40.2 percent to $6.54 billion, while stablecoin market cap declined 0.6 percent to $13.1 billion.
PancakeSwap supports Binance's bStocks tokenized equity offering, live since June. Binance reported Oct. 15 that bStocks surpassed $1 billion in assets under management, with more than $40 billion in cumulative trading volume and 11.2 percent of assets deployed in DeFi as of early October.
