PancakeSwap governance is voting on a tokenomics proposal that would raise the liquidity-provider share of swap fees to 88% across v3 and Infinity pools on 11 chains. The vote closes October 24 at 08:07 UTC. Until then, the plan is a live proposal, not an implemented fee schedule.
The official proposal would leave 12% of applicable fees for the protocol treasury. Most current v3 and Infinity pools direct roughly two-thirds of swap fees to liquidity providers. PancakeSwap v2 would remain unchanged because its split is hard-coded.
The change is paired with a reduction in effective CAKE emissions from 22,500 to 7,000 tokens per day, approximately 69%. The Kitchen estimates that 15,500 fewer CAKE would be minted daily in the final state, about 5.7 million fewer per year. The remaining 7,000 tokens would fund the Pantry ecosystem-growth program.
Rollout would begin in November, within two weeks of approval, and proceed chain by chain. The final switch is conditioned on CAKE reaching the 20% supply-reduction target adopted under Tokenomics 3.0. The proposal reports that supply has fallen 11.5% from April 2025 to October 2026.
PancakeSwap estimates that liquidity providers would have earned about $62 million more from 2025 volume under the proposed split. That is a historical simulation supplied by the proposer. It does not establish future volume, liquidity depth or execution quality.
TOKEN RECON ASSESSMENT
The proposal would replace token subsidies with a larger claim on actual trading fees. Economically, it moves risk from guaranteed emissions toward uncertain market activity. Approval alone will not prove success. The confirmation sequence is the final vote, chain-by-chain configuration changes, realized fee income, liquidity retention and whether lower CAKE issuance reduces incentives faster than fees replace them.
Sources
PancakeSwap governance: The Flip proposal and vote
PancakeSwap forum: Proposal discussion and implementation plan
