Pancakeswap Implements New Voting System for Governance Token Holders
Pancakeswap, the third-largest decentralized exchange in terms of total value locked, has introduced a new voting system called "Gauges." This system enables governance token holders to vote for additional rewards to be distributed to specific pools. The exchange has also replaced its vCAKE metric with a new metric called "veCAKE." To gain the ability to vote, CAKE holders must lock their tokens into a smart contract for a set period, and the longer they lock their tokens, the more voting power they receive. The exchange has eliminated its syrup pool reward system and will now only give additional fees to users who have veCAKE.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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