Cakepie, the largest veCAKE holder on PancakeSwap, opposes the proposal to remove veCAKE

2025-04-09 09:52:46

According to the Gate.io News bot, Wu said that Cakepie, the largest veCAKE holder on PancakeSwap, questioned the proposal to remove veCAKE in the new tokenomics.

Cakepie noted that the removal of veCAKE would cause serious damage to projects that Cakepie and PancakeSwap have been working on for a long time. These include: impaired trust, loss of voting incentives, reduced attractiveness of new protocols, loss of income for CAKE holders, token selling pressure and increased volatility, decentralized governance erosion, and the risk of unsustainable burn models.

Cakepie also disclosed that prior to the announcement of this proposal, approximately 25 million CAKE were suddenly locked in multiple wallets, and Cakepie determined this to be an organized governance attack.

CAKE-6.47%

CKP2.82%

BOT-12.24%

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