PancakeSwap has released its July CAKE token burn report. In July, the protocol net-burned 1.27 million CAKE, equivalent to 0.38% of the total supply. This marks the 35th consecutive month of decline in the token's total supply. The report shows that 674,000 CAKE were minted while 1.944 million were burned during the month, resulting in net deflation. Since September 2023, the cumulative net burn has reached 57.22 million CAKE.
PancakeSwap has released its July CAKE burn report, and the number stands out: a net burn of 1.27 million CAKE tokens. That works out to 0.38% of the total supply. And it extends the streak to a 35th straight month of declining total supply.
Over the month, the protocol minted 674,000 new CAKE and burned 1.944 million. Simple math. The result was a net deflationary effect. Since September 2023, cumulative net burn has climbed to 57.22 million CAKE.
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