PancakeSwap has officially launched Cake.Pad, a new platform that offers early access to new tokens. 

Users can access these new tokens before they get listed on exchanges and without staking or lockup requirements. The BSC chain-based DEX announced in a blog post that Cake.Pad is a rebrand from IFO, its Initial Farm Offerings platform. It replaces the older IFO system, which required staking and had stricter participation steps.

cake tokens - PancakeSwap unveils Cake.Pad for early token access and CAKE burns

Cake.Pad will boost the utility of CAKE tokens

To access new tokens, users must participate through a non-custodial wallet and commit CAKE tokens. There is no specific cap on the amount of CAKE tokens. Users can allocate a few tokens or more during an active sale window.

cake tokens - PancakeSwap unveils Cake.Pad for early token access and CAKE burns

“Want to commit a little or a lot? It’s your call, there’s no cap on how much CAKE you can commit,” according to the blog post.

Moreover, users can access multiple token launch events using the same amount of committed CAKE tokens. Once a token sale event ends, users can claim their CAKE tokens back.

Cake.Pad will boost the value of Cake tokens and support its deflationary supply goal. Thisis because all fees collected through any token launch will be permanently burned and removed from circulation.  

In cases of high demand, Cake.Pad will activate a tiered subscription tax. The tax gets lowerwhen a token salesevent becomes oversubscribed.This mechanism balances user participation and demand.

CAKE jumps by 15.6% on the news

CoinGecko data shows that CAKE has jumped by 15.6% in the past 24 hours. The token has a market capof $1.3 billion and a trading volume of $697 million. The current circulating supply of CAKE tokens stands at 343 million, which is % of the total supply of 450 million tokens. This number will reduceas more users utilize Cake.Pad and burn fees permanently. 

DeFiLlama data shows that PancakeSwapcontinues to be a revenue gusher with$53.27 million generatedin Q3 of this year.The DEX was the winner among other DeFi exchanges with a trading volume of $79.8 billion recorded in September. At the time of writing, PancakeSwap has over $2.5 billion in total value locked (TVL). 

Cake.Pad aims to boost the utility of CAKE tokens within the PancakeSwap ecosystem. Thisis part of the DEX’s prolonged strategy of CAKE Tokenomics 3.0. The strategy focuses on achievingan annual supply deflation of around4% and reducingtotal supply by 20% by 2030 through buyback-and-burnmechanisms.

“CAKE.PAD is built with simplicity, inclusivity, and CAKE utility in mind,” PancakeSwap wrote. The DEX will announce the first batch of token sale events and launch dates soon.

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