PancakeSwap TVL tops $380M as major fee overhaul heads to vote

PancakeSwap’s proposed fee-sharing overhaul would give liquidity providers 88% of swap fees and cut CAKE emissions by 69%, as BNB Chain’s DeFi activity expands.

Decentralized exchange PancakeSwap’s total value locked (TVL) grew nearly 19% over the past week, adding about $380 million as the protocol moves toward a major overhaul of how it distributes trading fees to liquidity providers. 

According to DefiLlama, PancakeSwap’s TVL climbed to $2.4 billion on Wednesday, up from about $2.02 billion on Oct. 14. The increase was concentrated in its V3 liquidity pools, where TVL more than doubled to about $739 million from $336 million over the same period.

The growth coincided with PancakeSwap opening a governance vote on a proposal called “The Flip,” which would increase liquidity providers’ share of swap fees on V3 and Infinity pools to 88%, up from 66%-68% on most pools.

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