PancakeSwap opens governance vote on “The Flip” to raise LP fee share to 88% and cut CAKE emissions by about 69%

PancakeSwap has opened voting on “The Flip” governance proposal, a plan that would increase the share of swap fees going to liquidity providers on v3 and Infinity pools to 88% and reduce daily CAKE emissions to 7,000 from 22,500.

According to the proposal, the change would lift LP fee share from the current 66% to 68% range on most pools, while cutting CAKE emissions by roughly 69%. The vote is live now, and the rollout described in the proposal would be phased in from November if approved.

The proposal also lays out a supply-management sequence tied to CAKE burns. PancakeSwap said the transition is designed to protect CAKE burns during the rollout and would continue until the protocol reaches its 20% supply reduction target.

How the proposal would work

Under the plan, non-stablecoin protocol fees would still be used to buy back CAKE, even as emissions are lowered. That means the proposal changes how fees are split for LPs while preserving the buyback mechanism for part of the protocol’s revenue.

The governance vote centers on two linked adjustments: a larger share of swap fees for LPs in v3 and Infinity, and a lower rate of new CAKE issuance. PancakeSwap said both changes are part of the same “Flip” framework and would only move ahead if the community approves them.

If passed, the proposal would not take effect all at once. The rollout is described as phased, beginning in November and continuing until the supply reduction target is met.