PancakeSwap's Kitchen wants to pay the cooks more. CAKE holders are invited to admire the menu.
"The Flip" (forum discussion, no vote yet): LPs on v3 + Infinity go from ~two-thirds of swap fees to 88% on all 11 chains. The other 12% goes to Treasury. v2 stays as-is and keeps doing the burning.
Emissions drop from 22,500 to 7,000 CAKE/day, ~5.7M fewer CAKE a year. Sounds like a gift to holders, right up until you see who gets the 7,000: the Pantry, a growth fund the Kitchen spends as it sees fit.
Token Autopsy: LPs win: ~$62M more on 2025 volume. The Kitchen wins: a pantry that restocks itself daily. Holders get "less inflation" and a burn engine parked on v2, which is not where the volume is going.
Cheaper liquidity for the DEX is not value accrual for the token. Different dish.
The early replies boil down to one question: if v3/Infinity is the growth, why does none of that 12% get burned?
Fix or menu rewrite? https://forum.pancakeswap.finance/t/proposal-discussion-the-flip-liquidity-should-get-paid-more/1658