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PancakeSwap TVL tops $380M as major fee overhaul heads to vote

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PancakeSwap TVL tops $380M as major fee overhaul heads to vote

PancakeSwap’s proposed fee-sharing overhaul would give liquidity providers 88% of swap fees and cut CAKE emissions by 69%, as BNB Chain’s DeFi activity expands.

Decentralized exchange PancakeSwap’s total value locked (TVL) grew nearly 19% over the past week, adding about $380 million as the protocol moves toward a major overhaul of how it distributes trading fees to liquidity providers.

According to DefiLlama, PancakeSwap’s TVL climbed to $2.4 billion on Wednesday, up from about $2.02 billion on Oct. 14. The increase was concentrated in its V3 liquidity pools, where TVL more than doubled to about $739 million from $336 million over the same period.

The growth coincided with PancakeSwap opening a governance vote on a proposal called “The Flip,” which would increase liquidity providers’ share of swap fees on V3 and Infinity pools to 88%, up from 66%-68% on most pools.

The proposal would also gradually reduce daily CAKE token emissions by approximately 69%, from 22,500 to 7,000 tokens. Voting opened on Wednesday, Oct. 21, and will run until Oct. 24, with implementation expected to begin in November if approved.

PancakeSwap accounted for approximately $4.67 billion in decentralized exchange trading volume on BNB Chain over the past seven days, representing about 71% of the network’s total, according to DeFiLlama. The network also hosts most of PancakeSwap’s liquidity, accounting for roughly $2.33 billion of its $2.40 billion in TVL.

The activity comes amid broader growth across BNB Chain’s DeFi ecosystem. 84 billion, according to DeFiLlama. 1 billion.



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