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The PancakeSwap community has approved the proposal to remove 300 million CAKE from the project’s maximum supply. The proposal passed with nearly 98% of votes in favour. CAKE price was sharply down in the past 24 hours, hovering near $3.46 and down 9.5%. A PancakeSwap proposal seeking to reduce the decentralized exchange token supply from 750 million to 450 million CAKE has passed. The vote on the proposal opened on Thursday, December 28 and closed today, Friday, December 29. According to details on the voting page, 97.88% of the total votes passed the proposal , paving way for the official reduction of the maximum supply for CAKE to 450 million. Currently, details across the market’s leading aggregators CoinGecko and CoinMarketCap show the total supply as 386,192,564 and maximum supply as 450 million. “ By reducing our token supply by 300,000,000 $CAKE, we signify PancakeSwap’s successful shift from a high-inflation emission...

Community engagement has always been a key aspect of crypto, and it's proving its value during bear markets. The highly anticipated launch and airdrop of Arbitrum's native governance token ARB took place on March 23, creating a buzz around the layer-2 protocol as hundreds of thousands of eligible users and DAOs tried to claim the token. Overwhelming user demand led the airdrop claim page to crash shortly after its launch, displaying 404 and 429 errors for over an hour, Cointelegraph reported.  Since Arbitrum was one of the largest blockchain projects without a token, the hype around its drop was expected. Nevertheless, it exemplifies how community-driven projects in the space can still thrive, despite competitors, technical challenges, market downturns and regulatory uncertainty. Wen? Now. ‍ pic.twitter.com/CysJ9nPP3Z — Arbitrum (,) (@arbitrum) March 16, 2023 Arbitrum wasn't the first - and certainly won't be the last - project to mobilize massive audiences. In Febr...