PancakeSwap Faces Controversy Over Governance Proposal

According to Odaily, PancakeSwap is facing significant controversy ahead of a major governance reform proposal. Eight associated addresses have rapidly acquired and locked 25 million CAKE tokens, representing about half of the total unlocked supply, in an attempt to influence the upcoming governance vote. The proposal, known as 'CAKE Tokenomics 3.0,' aims to eliminate the veCAKE mechanism and voting balance system, introduce a simplified emission model, and establish a 4% annual deflation rate. This move has sparked widespread debate within the community, with Curve's founder and several DeFi projects publicly opposing the proposal due to concerns over potential governance manipulation and long-term trust issues.