A vote to reduce block rewards emitted by decentralized finance protocol PancakeSwap is nearing completion, with nearly 70% of votes in favor of an "aggressive reduction." The "version 2.5" tokenomics proposal would move CAKE towards a deflationary model by cutting token rewards to traders and stakers by over 68%. The emissions on Syrup Pool, PancakeSwap's main liquidity pool on BNB Smart Chain, would drop by 94% under the proposal. Cake's emission rates were seen as unsustainable, relying on a constant flow of new money to be maintained and not benefiting long-term cake holders. The vote ends on April 28.

(By Shaurya Malwa)