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PancakeSwapPancakeSwapby0xFC29Be05eeCfeed0A1BcAbC86Dc57139D33CC1490xFC29…C149

CAKE burn on BSC transactions

Voting ended over 4 years agoSucceeded

The proposal is for the Pancakeswap team to convince CZ/Binance to burn a small amount of CAKE for each BSC chain transaction. Presently there is a BNB transaction fee, so a small percentage of that fee should be used to market buy CAKE and burn it. The percentage should be negotiated between PCS Chefs and Bianance.

Why would Binance agree to this ?

  1. Pancakeswap accounts for a large portion of BSC transactions (30% or more, I am not sure the exact number). This benefits Binance directly and the BSC. By burning some CAKE it benefits PCS and will lead to further growth and more use (therefore in the long run will benefit BSC and Binance).

  2. There is growing competition for AMAs, Quickswap, Uniswap, etc.. and Cardano is coming out with their own AMAs soon. It would give BSC a competitive advantage over the other chains driving more people to PCS and therefore to BSC which benefits Binance.

With every transaction on BSC burning a bit of CAKE it would help reach the objective of making CAKE deflationary.

It's a big job for the Chefs to convince Binance but worth a try so vote YES!

Off-Chain Vote

I support this proposal, Chefs need to contact Binance!
15.5K 100%
No way this will work, waste Chefs time!
0 0%
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Timeline

Jul 22, 2021Proposal created
Jul 23, 2021Proposal vote started
Jul 29, 2021Proposal vote ended
Oct 26, 2023Proposal updated