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PancakeSwap implements Tokenomics 3.0 upgrade as CAKE RSI flips bullish

PancakeSwap has begun implementing its long-anticipated Tokenomics 3.0 upgrade for the CAKE token. In a blog post published on Apr. 21, the PancakeSwap ( CAKE ) team confirmed that key changes will go live on Apr. 23, 2025. Staking and governance via veCAKE will be discontinued as part of the update. Users will have six months to redeem their tokens at a 1:1 ratio after all locked CAKE and veCAKE positions are unlocked. ????The official implementation of CAKE Tokenomics 3.0 is now underway. Here`s what you need to know about the changes and important dates: Key Milestones: ????Retirement of CAKE Staking, veCAKE, Gauges Voting, Revenue Sharing, and Farm Boosting ????Voting results from Epoch 37 will… pic.twitter.com/3mj2Hk08BY — PancakeSwap (@PancakeSwap) April 21, 2025 With Tokenomics 3.0, PancakeSwap switches to a buy-and-burn revenue-sharing model and imposes a hard cap of 450 million CAKE. There will be no more emissions from yield farms. These changes are intended to reduce token inflation, encourage sustainable growth, and reward loyal users. The transition will happen in two stages. The daily emissions will drop from 29,000 CAKE to 20,000 CAKE, and finally to 14,500 CAKE. An estimated 5.3 million CAKE will be permanently burned annually as a result of this reduction. You might also like: PancakeSwap price prediction: Will CAKE continue to be ‘sweet’ for investors in 2025? The proposal to redesign PancakeSwap tokenomics has drawn criticism, especially from Cakepie DAO, a protocol based on the veCAKE model and one of the biggest CAKE holders. The DAO claimed that there were irregularities in the vote that approved the changes and criticized the removal of decentralized governance features. Governance, Decentralization & the veCAKE Paradigm To the PancakeSwap team — particularly to those shaping the Tokenomics 3.0 proposal: This is not a reaction. This is a reminder. DeFi is not a destination — it is a discipline. And governance is not a burden — it is the… pic.twitter.com/xq4lsR4di9 — Cakepie????????‍???? (@Cakepiexyz_io) April 12, 2025 Cakepie DAO proposed modifying the system instead of removing it entirely. Their suggestions included rewarding high-performing pools and penalizing early exits. In response, PancakeSwap has offered up to $1.5 million worth of CAKE in compensation for Cakepie users if the Cakepie DAO agrees to a 1:1 redemption deal for mCAKE holders. Despite the pushback, CAKE’s market performance has shown signs of recovery. The token is trading at $2.01, up 0.7% in the last 24 hours, with daily volume up 36% to $78.6 million. PancakeSwap’s 24-hour DEX volume also rose to $1.03 billion, surpassing Uniswap’s $896 million, according to DeFiLlama data . Weekly trading volume, on the other hand, has risen 5%, compared to Uniswap’s 39% decline. PancakeSwap price analysis. Credit: crypto.news On the technical side, CAKE appears to be recovering from a multi-week low of $1.60. The price is approaching the Bollinger Band midline, while the relative strength index has climbed to 53.95, crossing above the neutral threshold and signaling growing bullish momentum. A confirmed breakout above $2.05 may push the token toward the next key resistance at $2.50. Read more: PancakeSwap expands advanced trading tools to Arbitrum, Linea, and Base Bitcoin World

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Bybit CEO Updates on $1.4 Billion Hack by North Korea`s Lazarus Group: 68.57% of 500k ETH Traceable

Bybit CEO Ben Zhou has provided an update on the $1.4 billion hack attributed to North Korea`s Lazarus Group, revealing that 68.57% of the stolen funds, totaling around 500,000 ETH, remain traceable, while 27.59% have gone dark and 3.84% have been frozen. The untraceable portion of the funds has been moved through mixers, including Wasabi mixer, and then through bridges to peer-to-peer (P2P) and over-the-counter (OTC) platforms. Zhou detailed that the hackers used various mixers to launder the funds. A significant amount of the stolen Ethereum, approximately 432,748 ETH, was converted into Bitcoin using Thorchain, with 67.25% distributed across over 35,000 wallets. Additionally, 5,991 ETH, valued at about $16.77 million, remains on the Ethereum blockchain, spread across 12,490 wallets with an average of 0.48 ETH each. On the Bitcoin side, 944 BTC, worth $90.6 million, was funneled through Wasabi Mixer alone, and 531 BTC, equivalent to around 18,206 ETH or 3.57% of the stolen assets, was bridged back to Ethereum via Thorchain. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io Bitcoin World