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PancakeSwap (CAKE): 37 Months of Burns—Is CAKE Really Deflationary? | Daily Crypto IQ

Token Autopsy · streamed 2026-10-28 · runtime 1:28:50

Takeaways

Derived from the stream's auto-generated captions.

• Token Autopsy on CAKE: Tokenomics 3.0 (May 2025) retired veCAKE, gauge voting and the 5% staking revenue share, let lockers unlock 1:1 with no penalty, and sent that fee stream to weekly burns.
• Decodes the 59.8 million weekly burn headline: the legacy MasterChef still mints 40 CAKE per block and 99.7% is swept straight to the burn address. Real math last week was about 152,600 CAKE emitted against fee-funded burns, roughly 136,000 CAKE net deflation.
• Governance cut the hard cap from 450 million to 400 million in January 2026, with about 330 million live supply; the stream cites 37 straight months of net deflation.
• Caveats: the weekly burn is executed by the team's multisig, not an immutable per-swap burn; unaudited third-party Infinity hooks can put individual pools at risk; and volume shifting to 0.01% stablecoin/RWA pools burns far less CAKE than 0.25% pools.
• Scorecard: 78, one point short of a pass, level with Sky and four points behind Uniswap.

Coins & projects mentioned