Decentralized exchange PancakeSwap has seen its total value locked (TVL) increase by nearly 19% over the past week, reaching $2.4 billion as of Wednesday. This growth follows a rise from approximately $2.02 billion recorded on October 14, with V3 liquidity pools driving the expansion by more than doubling their TVL to roughly $739 million.
The platform has initiated a governance vote on a proposal titled The Flip, which runs from October 21 to October 24. If approved, the changes are scheduled for implementation in November. The proposal aims to increase the share of swap fees allocated to liquidity providers on V3 and Infinity pools to 88%, compared to the current range of 66% to 68%.
Additionally, the proposal seeks to reduce daily CAKE token emissions by approximately 69%, lowering the amount from 22,500 to 7,000 tokens. PancakeSwap currently accounts for about 71% of the total trading volume on the BNB Chain, processing $4.67 billion in volume over the last seven days, while the broader BNB Chain ecosystem saw its own TVL grow by 8.3% to $5.84 billion.
