PancakeSwap Adjusts Farm Rewards, Over 50% of BNB Chain TVL

• PancakeSwap recently proposed adjustments to its Farm Rewards program in order to reward high-value, high-performing farms.
• These adjustments would not reduce CAKE rewards to farms, and the total amount of CAKE contributing to APR would remain the same.
• PancakeSwap was recognized in a dataset which showed that it held over 50% of the total TVL on the BNB Chain.

PancakeSwap recently announced adjustments to its Farm Rewards program in an effort to reward high-value, high-performing farms. The goal of this proposal is to redirect rewards to these farms and create more capacity for new farms to join the program. This proposal does not reduce CAKE rewards to farms, and the total amount of CAKE contributing to APR will remain the same. The key difference this round is the adjustment of multipliers for CAKE farms, like CAKE-BNB, which currently has a flexible APR of about 19% and a boosted APR of 37%.

On 31 December, PancakeSwap was recognized in a dataset which showed that it held over 50% of the total TVL on the BNB Chain. XVS and ALPACA grabbed the second and third spots on the same list, respectively. The news of this recognition caused CAKE’s price to increase by nearly 3% over the last seven days, as its weekly chart was painted green, unlike several other cryptos. At the time of writing, it was valued at $3.26 with a market capitalization of more than $2 billion.

The crypto community has responded positively to the proposed adjustments, as it allows for more rewards to be directed to high-value farms. This could potentially lead to an increase in the price of CAKE, as it incentivizes more people to join the PancakeSwap platform. The recent recognition of PancakeSwap on the BNB Chain also gives the crypto community more confidence in the project, which could lead to further price increases. It will be interesting to see how the crypto market reacts in the coming weeks, as the adjustments are implemented and more people join the PancakeSwap platform.