
**Traded tokenized stocks on PancakeSwap? There might be something extra in your wallet! 🥞**

PancakeSwap has teamed up with [Ondo](https://ondo.finance/intelligent-portfolios) to reward eligible PancakeSwap users with an exclusive airdrop of **Ondo Intelligent Portfolios (OIP) tokens: YLD8on, YLD5on & BRAINon.**

If you've traded Ondo tokenized stocks or used the PancakeSwap Stock Terminal, check your wallet. You might have received some OIP tokens 😋

The airdrop is automatically distributed to eligible wallets. No claiming required.

### **Eligible Wallets**

390 wallets received the OIP airdrop. Addresses are partially hidden for privacy, so match the first and last 5 characters to find yours.

👉 [**View the full list of eligible wallets**](https://docs.google.com/spreadsheets/d/1DXxR7OXHme7I7SWKY18ZRgUTfdO8b9lj55KWUUs3Zxo/edit?usp=sharing)

### **What Are Ondo Intelligent Portfolios (OIP)?**

Imagine holding an entire investment portfolio with just one token.

That's what Ondo Intelligent Portfolios bring onchain.

Issued by Ondo Global Markets and tokenized by Ondo Finance, Ondo Intelligent Portfolios include seven curated multi-asset portfolio tokens, offering exposure to different investment strategies: from income-focused portfolios to diversified growth, leading tech stocks and AI.

Instead of buying and managing multiple assets individually, users can access an entire portfolio through a single token.

**Why OIP?**

- **One token, multiple assets:** Get exposure to a diversified portfolio without managing individual positions.
- **Automatic rebalancing:** Portfolios periodically rebalance to maintain their target allocations.
- **Onchain transparency:** Portfolio holdings, allocations and rebalancing are visible onchain.
- **DeFi flexibility:** Hold and transfer portfolio tokens onchain, subject to applicable restrictions.

### **Meet the 7 Ondo Intelligent Portfolios 🥞**

Each packs a whole portfolio into one onchain token. Here's the menu:

#### **🏛️ BlackRock-Powered Portfolios**

- **BLKHIon: High Income**
Income-focused bond and credit exposure. Yield farming, Wall Street edition.

  If Aave had a TradFi uncle who spent 30 years trading high-yield credit, bond ETFs and absolutely no frog or dog coins.

- **BLKDIGon: Diversified Growth**
Stocks, bonds and alternatives. For the degen who likes having a few ways to be right.

  The "I'm diversified bro" portfolio.

- **BLKGRWon: High Growth**
95% stocks, 5% BTC.

  Bull market believer. Mostly stocks, with a sprinkle of BTC.

#### **🧑‍🍳 Ondo-Designed Portfolios**

- **MAG7Xon: Magnificent 7 & Crypto**
Big tech meets BTC and ETH. Your NVIDIA watchlist and crypto bags finally get to hang out.

  Basically your portfolio if you only buy what Jensen Huang and Michael Saylor talk about.

- **BRAINon: AI Leaders**
AI companies and ETFs.

  AI narrative enjoyooor. Betting on chips, infrastructure and the AI takeover.

- **YLD5on: 5 Targeted Income**
An income portfolio targeting ~5% yield.

  Pendle PT enjoyers bringing their yield spreadsheets to TradFi.

- **YLD8on: 8 Targeted Income**
A higher-yield income mix targeting ~8%.

  For those aiming a little higher with their income strategy.

**Which one's your kind of bag? 👀**

Learn more about [Ondo Intelligent Portfolios](https://ondo.finance/intelligent-portfolios)

### **Why Trade Tokenized Assets on PancakeSwap?**

The future of finance is moving onchain, and PancakeSwap is making it easier to explore.

With PancakeSwap's Stock Terminal, users can trade 1,000+ tokenized stocks and ETFs, including assets from Ondo Global Markets.

**Here's why PancakeSwap is your go-to destination for tokenized asset trading:**

- **Rewards for PancakeSwap traders:** This airdrop went straight to wallets that traded Ondo tokenized stocks or used the Stock Terminal on PancakeSwap.
- **Earn while you hold:** Stake CAKE in the MAG7Xon Syrup Pool to earn MAG7Xon during the campaign period.
- **Fast and low-cost on BNB Chain:** Trades settle quickly with low network fees, so smaller positions make sense too.
- **1,000+ tokenized assets:** Explore popular stocks and ETFs in one place.
- **Trade directly from your wallet:** Access tokenized markets without going through a traditional brokerage interface.
- **Beyond crypto:** Explore traditional market exposure alongside your DeFi activities.

Whether you're interested in tech stocks, diversified ETFs or tokenized portfolio products, PancakeSwap brings more of the financial world onchain.

### **Your Airdrop Is Just the Beginning**

Already received your OIP tokens? Enjoy the extra treat!

New to tokenized assets? There's plenty more to explore.

From individual tokenized stocks to diversified onchain portfolios, PancakeSwap and Ondo are helping bring new opportunities to DeFi.

**Ready to explore?**

🥞 [**Trade Tokenized Assets on PancakeSwap**](https://pancakeswap.finance/stocks)

🥞 [**Stake CAKE, earn MAG7Xon in the Syrup Pool**](https://pancakeswap.finance/pools)

The world's assets are coming onchain. Come get a taste of what's next!

### **Important Notes**

_Tokenized assets involve risks, including market volatility, liquidity risks and smart contract risks. Tokenized stocks and portfolio tokens provide economic exposure to underlying assets and may not confer the same rights as directly owning those assets. Availability is subject to jurisdictional restrictions and product eligibility. Nothing in this article constitutes financial or investment advice. Always do your own research before trading. Ondo Intelligent Portfolios are available only to eligible users outside the United States in permitted jurisdictions._

Traded tokenized stocks on PancakeSwap? There might be something extra in your wallet!

PancakeSwap x Ondo Intelligent Portfolios Airdrop Is Here!

👨‍🌾Minted:  674,316
🔥Burned: 1,790,527
📉Net Mint: -1,116,211
🔻% of total supply burned: -0.339%

🐰This marks the 38th consecutive month of CAKE total supply reduction, with a cumulative -62,581,675 net mint (current total supply – peak total supply).

## October 2026: PancakeSwap's CAKE Burn

Our October 2026 report explores the world of CAKE token supply management on PancakeSwap. Learn how PancakeSwap reduces the total supply of CAKE through strategic burns and the pursuit of ultrasound CAKE.

## CAKE Total Supply Reduction

As of  Nov 2, 2026, PancakeSwap has successfully burned -0.339% of the CAKE total supply for October  2026. To calculate this percentage, we divided the total net mint of -1,116,211 CAKE by the initial total CAKE supply on  Nov 2nd, 2026. This marks the 38th consecutive month of CAKE total supply reduction, with a cumulative -62,581,675 CAKE  since September 2023.

## Achieving CAKE Total Supply Reduction through Net Minting

In October 2026, PancakeSwap achieved a net mint of -1,116,211 CAKE. This negative net mint indicates that more CAKE tokens were burned than minted during the month.

### October Mint Breakdown

Farms: 185,121
Other Product Usage: 123,953
Ecosystem Growth: 365,242
Total October Mint: 674,316

Please note that we have excluded CAKE mints that directly contribute to burning, calculating the mint based on raw CAKE/block emission (including emission changes over the months) for a precise monthly mint estimate.

### October Burn Categories

Core AMM: 1,671,477
Side Products: 119,050
Total September Burn: 1,790,527

*Note: To ensure accuracy, we pro-rate weekly CAKE burns over two months. For example, burns occurring at the end of July and stretching into September receive a proportionate allocation between the two months.*

38 straight months of net supply reduction, with 1,790,527 CAKE burned against 674,316 minted.

October CAKE Burn Report

October brought Dual Investment to BNB Chain, took PancakeSwap Infinity past $150B in cumulative trading volume, and put LPs on track for 88% of swap fees after The Flip passed.

## **CAKE Burn Recap**

October marked 38 straight months of net CAKE supply reduction. PancakeSwap burned 1,790,527 CAKE and minted 674,316, a net mint of −1,116,211 CAKE (−0.339% of total supply). Cumulatively, net mint now stands at −62,581,675 CAKE, taking total supply from its 391M peak to about 329M, roughly 16% of peak.

Track every burn on the Burn Dashboard. 

## **🥞 Product Updates**

**The Flip is coming.** PancakeSwap's governance vote on The Flip closed on October 24 in favor. LPs on v3 and Infinity will keep 88% of swap fees across all 11 chains, up from roughly two-thirds on most pools. The other 12% goes to the Treasury, and its non-stablecoin portion keeps buying back CAKE. Rollout is scheduled to begin in November, with chains switching one per week over about three months.

**Dual Investment landed on PancakeSwap.** Pick a target price and a settlement date, and earn rewards whichever way the market goes. On Buy Low, you deposit USDT to buy BTC or BNB at a lower target price. On Sell High, you deposit BTC or BNB to sell at a higher target price. If your target is reached, you trade at that price plus rewards. If it isn't, your deposit comes back plus rewards. Now live on BTC, BNB, & ETH. Dual Investment

**PancakeSwap Infinity went live on Arc on September 29.** Arc is Circle's USDC-native L1. You can swap and add liquidity across all Infinity pools on Arc.

**PancakeSwap Infinity crossed $150B in cumulative trading volume,** with the last $50B coming in under seven months.

**PancakeSwap Aggregator crossed $1B in routed volume over a 30-day period.** The Aggregator routes swaps across onchain liquidity and is available to developers through the Unified Swap API, alongside PancakeSwap X, the request-for-quote (RFQ) engine where market makers price orders for fillers to settle.

**bStocks activity now boosts your Pre-Access quota.** bStocks, Binance's tokenized stocks and ETFs, can now raise your quota for Pre-Access campaigns. Trading, holding, LPing or staking bStocks all count. Pre-Access campaigns are time-limited subscriptions that give eligible users tokenized exposure to private companies before any potential public listing.

## **🌐 Ecosystem**

**Important: action required for CAKE holders on opBNB.** LayerZero is ending support for opBNB, so bridging CAKE out of opBNB via LayerZero stops on November 23 at 00:00 UTC. If you hold CAKE on opBNB, bridge your tokens out to BNB Chain before the deadline.

**Stock memes got a shared inventory.** PancakeSwap Infinity's Shared Inventory Hook is now powering stock memes on four.meme: one inventory, zero fragmentation, continuous price and depth, with liquidity migrating automatically.

**PancakeSwap is the trading layer for De1's new Tokenized Asset World** on BNB Chain.

**KuCoin Web3 Wallet Swap now supports PancakeSwap X** for eligible tokenized asset swaps on BNB Smart Chain, with gasless execution, MEV protection, and no swap gas cost for failed orders.

## **🌍 Community**

**Next stop, Bangkok.** PancakeSwap is heading to Binance Blockchain Week (November 28–29) and bringing something new, with Bangkok getting the first look. We're also flying one community member to the event: make content about Dual Investment or Stock Terminal and submit it by November 6. The winner gets return flights, two hotel nights in Bangkok, and a Binance Blockchain Week ticket.

Thanks for reading! Follow us on X for the latest updates, and join the conversation on Telegram and Discord.

Stack'em, The Chefs 🥞


Everything PancakeSwap shipped in October 2026: The Flip passes, Dual Investment goes live, Infinity crosses $150B, and more.

Kitchen Report: October 2026

Most traders already have a price in mind. "I'd buy $BTC at $80K." "I'd sell my $BNB at $900." Usually that means setting an alert and waiting.

With Dual Investment, now live on PancakeSwap, you can now get paid while you wait.

Pick a price to buy low or sell high, and choose a date. On that date, you either get your original funds back or trade at your price. Either way, you earn rewards, straight from your wallet, on BNB Chain.

## How it works

**1. Connect your wallet**

Go to Dual Investment on PancakeSwap and connect your wallet on BNB Chain. 

https://pancakeswap.finance/dual-investment 

**2. Choose your asset and side**

Pick BTCB (Bitcoin on BNB Chain) or BNB, then choose:

- Buy Low: deposit USDT to buy at a lower price.
- Sell High: deposit BTCB or BNB to sell at a higher price.

**3. Pick your date and price**

Filter by duration, choose a settlement date, then pick a target price from the list and tap Subscribe. Targets closer to the current price earn higher rates. Targets further away earn lower rates, but get you a better price if they hit.

**4. Review both outcomes**

Enter your amount. Under Return Overview, you'll see exactly what you'd receive in each case before you commit. The rate is held for a short time while you confirm. If the timer runs out, the rate refreshes.

**5. Confirm**

Tick the three confirmations, approve the token, and confirm in your wallet.

**6. Settlement**

The price is checked once, on your settlement date 08:00 UTC:

- The market didn't reach your price: you get your original funds back, plus rewards.
- The market reached your price: you trade at your price, plus rewards.

Funds are locked until this date and can't be withdrawn early. The trade settles at your target price even if the market has moved past it, and the value of what you receive moves with the market.

**Example: buy the dip**

$BTC is trading at about $85,800, and you'd happily buy at $84,500.

- Deposit 1,000 USDT, choose the $84,500 target, and a settlement date 1 day out.
- The rate shown is around 40% APR, which works out to about 1.10 USDT in rewards for the day.

*On the settlement date:*

→ $BTC is at or below $84,500: your 1,001.10 USDT converts to about 0.01185 BTCB at $84,500.

→ $BTC is above $84,500: you get 1,001.10 USDT back.

**Example: take profit at your price**

$BNB is trading at about $790, and you'd happily sell at $820.

- Deposit 10 $BNB, choose the $820 target, and a settlement date 3 days out.
- At an illustrative 15% APR, that's about 0.0123 $BNB in rewards.

*On the settlement date:*

→ $BNB is at or above $820: your 10.0123 $BNB converts to about 8,210 USDT at $820.

→ $BNB is below $820: you get 10.0123 $BNB back.

### Get started

Dual Investment is live now, starting with BTCB and BNB on BNB Chain.

Get paid while you wait.

Try Dual Investment → https://pancakeswap.finance/dual-investment

Name your price. Pick your date. Earn rewards whether it hits or not. Dual Investment just landed.

Dual Investment on PancakeSwap: Get Paid While You Wait for Your Price

## **September CAKE Burn Recap**

September closed with **37 straight months of net CAKE supply reduction**, over three years of burning more CAKE than was minted.

In September, 2,963,567 CAKE was burned against 652,564 minted, a net reduction of 2,311,003 CAKE, or -0.700% of total supply.

More than 61,644,839 CAKE has now been permanently burned since peak supply, reinforcing a healthier, more sustainable token economy powered by PancakeSwap's products.

Track every burn in real time on the Burn Dashboard.

## **🥞 Product Updates**

**LPs now keep 90% of fees on every PancakeSwap Infinity pool on Robinhood Chain.** Every Infinity pool on Robinhood Chain splits fees the same way: 90% to liquidity providers and 10% to the protocol, a bigger LP share than major venues. Featuring three pools at the 0.01% fee tier: WETH-USDG, NVDA-USDG and AAPL-USDG. 

**The Pre-Access Portal launched, and its first project filled its cap in 1 minute 36 seconds.** The portal gives users tokenized, indirect exposure to private companies before they go public, fully onchain and self-custodial via Binance Wallet. The first project, $pPOLY, a token issued by Paimon Finance, filled its $50,000,000 cap 10x oversubscribed, with 9,091 participants.

**PancakeSwap is now the #1 venue for bStocks.** In a 24-hour snapshot, roughly $75M traded across Nasdaq-100, SpaceX, NVIDIA, Google, S&P 500, Apple, Tesla and GameStop bStocks on PancakeSwap, making it the #1 venue for bStocks tokenized assets. 

**Ondo Intelligent Portfolios arrived on the Stock Terminal.** PancakeSwap has brought the world's assets onchain one at a time, a stock, an ETF. Now an entire portfolio at once: $BLKHIon, $BLKDIGon and $BLKGRWon, powered by Ondo. 

**rTokens from Reality Finance also went live on the Stock Terminal.** The launch brings 1,700+ 1:1-backed tokenized real-world assets (RWAs) onchain, adding to the catalog of tokenized stocks and ETFs.

**$SHEINx debuted onchain via xStocks.** SHEIN's tokenized stock is now live and tradable on PancakeSwap Stock Terminal.

**Shared Inventory Hook case study: one balance, many pools.** A Shared Inventory Hook lets a single USDT balance quote multiple RWA pools at once and earn fees from all of them. In one case study, CRCLB earned a 90.4% effective APR versus 65.3% on a classic V3 book. 

## **🌐 Ecosystem**

**U-USDG went live on Robinhood Chain,** pairing USDG from Global Dollar with U from United Stables.

**Two launchpads now graduate their tokens into PancakeSwap Infinity.** Infinity became the default graduation platform for pair.fun, and genius.fun tokens (built by Genius Terminal) now graduate directly into PancakeSwap Infinity on BNB Chain, so tokens that complete their launch move straight into an Infinity liquidity pool.

**APM came to PancakeSwap.** A new Syrup Pool lets you stake $CAKE to earn $APM from apM Fashion, the AI x blockchain platform bringing South Korea's fashion district and its 1,000+ brands onchain. A 10,416,666 $APM trading competition is also live through October 9.

## **🌍 Community**

**PancakeSwap turns 6. 🥞** Six years ago, we opened our doors with an idea. On September 22, we celebrated six years of PancakeSwap powering liquidity across multiple ecosystems.

The numbers say it best:

- **$4.4T+** traded
- **203M+** users
- **11 chains**, live
- **Billions** in tokenized asset volume

**PancakeSwap took over Seoul for KBW2026.** The booth opened September 30 with nonstop gacha spins and exclusive merch in every other hand. Chef Kids, our Head Chef, took the stage on the "More Assets, More Geos" panel to talk about how real-world assets are going onchain on PancakeSwap.

**The Chef's Table was set in Seoul.** On October 1, PancakeSwap chefs hosted a private dinner for South Korea's leading KOLs, creators and community voices. It was a night of good food, closing out KBW2026 week.

Thanks for reading! Follow us on X for the latest updates, and join the conversation on Telegram and Discord.

Stack'em, The Chefs 🥞

September on PancakeSwap: the Pre-Access Portal, 90% LP fees on Robinhood Chain, bStocks volume, Ondo Intelligent Portfolios, and 37 months of CAKE deflation.

Kitchen Report: September 2026

👨‍🌾Minted:  652,564

🔥Burned: 2,963,567

**📉Net Mint: -2,311,003**

🔻% of total supply burned: -0.700%

🐰This marks the 37th consecutive month of CAKE total supply reduction, with a cumulative -61,644,839 net mint (current total supply – peak total supply).

## **September 2026: PancakeSwap's CAKE Burn**

Our September 2026 report explores the world of CAKE token supply management on PancakeSwap. Learn how PancakeSwap reduces the total supply of CAKE through strategic burns and the pursuit of ultrasound CAKE.

## **CAKE Total Supply Reduction:**

As of  Oct 5, 2026, PancakeSwap has successfully burned -0.700% of the CAKE total supply for September  2026. To calculate this percentage, we divided the total net mint of -2,311,003 CAKE by the initial total CAKE supply on  Oct 5th, 2026. This marks the 37th consecutive month of CAKE total supply reduction, with a cumulative -61,644,839 CAKE  since September 2023.

## **Achieving CAKE Total Supply Reduction through Net Minting:**

In September 2026, PancakeSwap achieved a net mint of -2,311,003 CAKE. This negative net mint indicates that more CAKE tokens were burned than minted during the month.

### **September Mint Breakdown**

- Farms: 208,512
- Other Product Usage: 119,954
- Ecosystem Growth: 324,098
- Total September Mint: 652,564

*Please note that we have excluded CAKE mints that directly contribute to burning, calculating the mint based on raw CAKE/block emission (including emission changes over the months) for a precise monthly mint estimate.*

### **September Burn Categories**

- Core AMM: 2,836,209
- Side Products: 127,357
- Total September Burn: 2,963,567

*Note: To ensure accuracy, we pro-rate weekly CAKE burns over two months. For example, burns occurring at the end of July and stretching into* September *receive a proportionate allocation between the two months.*

September 2026 CAKE burn: 2.96M CAKE burned, 652,564 minted, and 37 straight months of total supply reduction.

September CAKE Burn Report

Introducing a new fee split across every Infinity pool on Robinhood Chain, which means more of every trade goes straight to our LPs.

We're changing how fees are split across every PancakeSwap Infinity pool on Robinhood Chain. Starting today, liquidity providers receive 90% of all trading fees generated in these pools, and the protocol's share drops to 10%. This is across the board on our Infinity pools on Robinhood chain, aka applies to every Infinity pool on Robinhood Chain, not just a handful of promoted pairs. If you provide liquidity there, you now earn a larger share.

If you're already providing liquidity on PancakeSwap Infinity on Robinhood Chain, you're earning under the new split with no action needed. If you're deciding where to deploy capital on Robinhood Chain, choose the platform where you earn more.

To get started, here are three featured pools to jump into:

→ [WETH/USDG — 0.01%](https://pancakeswap.finance/liquidity/pool/robinhood/0xdde13ccbbcd10c5fc3351c284eabc77114d2a88078eb1cfd20062124e939d4cf?chain=bsc)

→ [NVDA/USDG — 0.01%](https://pancakeswap.finance/liquidity/pool/robinhood/0x718ccddafece422f2ccbc50921045ed235c9b44b79009d06ad5426dfac585d04?chain=bsc)

→ [AAPL/USDG — 0.01%](https://pancakeswap.finance/liquidity/pool/robinhood/0x942383972d293c827846e6d77a379be24f486d706c0de6c302d87f4783f9ebd6)

Most protocols treat fees as something to maximize, but by giving a bigger slice to LPs, we're putting value back in the hands of the people who make the platform work.

Head to [our pools page](https://pancakeswap.finance/liquidity/pools?chain=bsc&type=1&network=56&network=1&network=8453&network=143&network=4663&network=42161&network=324&network=59144&network=204&network=8000001001&search=USDG) to explore Infinity pools, compare pairs, and start earning more on every trade. Whether you're a seasoned LP or providing liquidity for the first time, there's never been a better time to put your capital to work on Robinhood Chain. Keep more of what your liquidity earns.

*Disclaimer: As with any liquidity provision, make sure you understand the risks involved, including impermanent loss. Not financial advice. DYOR.*

Keep more of what you earn. LPs on Robinhood Chain now earn 90% of all trading fees, across every pool.

LPs Earn More Here: 90% LP Fees Now on PancakeSwap Infinity on Robinhood Chain

The private market — the world of companies before they reach a public listing — has always been one of the hardest corners of finance for everyday users to reach. Pre-Access campaigns on PancakeSwap are a step toward changing that, using tokenization to bring this kind of indirect exposure onchain.

## What's a Pre-Access campaign?

A Pre-Access campaign is a time-bound subscription event. Each campaign is hosted by PancakeSwap, with third-party providers arranging the underlying tokenized exposure. During a campaign window, eligible users can subscribe to indirect, tokenized exposure to a specific private company before that company's potential public listing.

## How to get in

Exact steps vary per campaign, but the run of play looks like this:

1. **Discover the campaign.** Access the PancakeSwap campaign via Binance Wallet — for example, a homepage banner or an on-chain opportunities section.
2. **Open the Pre-Access page.** This is the campaign experience hosted by PancakeSwap, with the underlying tokenized exposure arranged by third-party providers.
3. **Review and accept the terms and risk disclosures.** Participation requires acknowledging the campaign's terms and the associated risks before going further.
4. **Review the campaign details.** Each campaign page sets out the specifics: company/token information, the subscription asset, the sale price, implied valuation, the timeline, the claim schedule, an FAQ, and full risk disclosures.
5. **Pass the eligibility / wallet status check.** Your wallet is checked against the eligibility criteria set by PancakeSwap. You may be eligible, ineligible, or shown as having already participated.
6. **Subscribe.** If eligible, you initiate the deposit / subscription and confirm the transaction. Because the wallet is self-custodial, you approve the transaction yourself and your assets stay in your control. Your subscription is then submitted and confirmed.
7. **Claim or get refunded.** After the campaign completes, a claim window opens. Depending on the campaign's rules and outcome, eligible participants either claim their tokenized exposure or receive a refund.

## How allocation works

Allocation is determined by each campaign's rules. The specific eligibility criteria, allocation method, subscription limits, and redemption terms are published in each campaign's official details before it opens.

## Claim or refund

Because a campaign resolves at the end rather than trading continuously, the outcome for a participant is either a claim of the tokenized exposure or a refund, according to the campaign's rules. This is why reading the claim schedule and redemption terms on the campaign page matters — they define what happens to your subscribed amount and when.

## What's next

The first one is almost out of the oven. 🥞

The reveal drops soon on PancakeSwap's X.

The market before the market is opening up onchain.

_**Disclaimer:** Pre-Access Portal offers tokenized, indirect exposure only. It does not confer equity or shares in, and does not imply endorsement by, partnership with, or confirmed IPO plans of, the named company, which is not a party to and has no involvement in this offering. This is not financial, investment, legal, or tax advice. See the full Pre-Acess Disclaimer and Terms of Service for complete risk disclosures._

Get indirect, tokenized exposure to private companies before they go public on PancakeSwap.

PancakeSwap’s Pre-Access Portal: Early Access to the Market Before the Market  

## **August CAKE Burn Recap**

August closed with **36 straight months of net CAKE supply reduction**, three full years of deflation, extending a streak that CoinMarketCap spotlighted earlier in the month in a deep dive on PancakeSwap's tokenomics.

August minted 674,316 CAKE and burned 2,746,334 CAKE, a net mint of -2,072,018, or -0.624% of total supply burned for the month. That marks the 36th consecutive month of CAKE total supply reduction, with a cumulative -59,702,882 CAKE burned from peak supply.

Track every burn in real time on the [Burn Dashboard](https://pancakeswap.finance/burn-dashboard).

## **🥞 Product Updates**

**PancakeSwap's Stock Terminal is the place to discover and trade RWAs:**

- **600+ tokenized stocks and ETFs from Solana became tradable directly on PancakeSwap's Stock Terminal**, extending the tokenized-asset catalog beyond BNB Chain.
- **PancakeSwap crossed a real milestone in the process: 1,000+ tokenized stocks, ETFs, commodities, indices, and more are now trading across multiple chains**, with no closing bell, all tradable on the Stock Terminal.

**bStocks by Binance became the #1 venue for tokenized U.S. stocks on PancakeSwap.** By the end of August, PancakeSwap was handling more than 41.4% of all bStocks trading volume across 67 tokenized stocks and ETFs, and growing. Ten new names joined early in the month — Astera Labs, ASML Holding, AST SpaceMobile, Bitmine Immersion, Coherent Corp, Credo Technology, IREN, Netflix, Super Micro Computer, and USA Rare Earth — all tradable 24/7. GameStop ($GMEB) joined the lineup separately days later, also via bStocks on BNB Chain.

**$USDY, Ondo Finance's tokenized U.S. Treasury product, launched on PancakeSwap** via BNB Chain, bringing yield-bearing, dollar-denominated exposure fully onchain. Alongside that, Five more Ondo Finance tokenized assets also went live: Coinbase, Strategy, ProShares UltraPro QQQ, Amazon, and Oracle, all tradable onchain on PancakeSwap.

**Shared Inventory Hook shipped on PancakeSwap Infinity**, a hook that lets one shared balance quote depth into multiple pairs at once, new pairs on the same capital, fees from one balance across every pair, and deeper quotes with lower price impact. It launched live on CRCLB/USDT, MUB/USDT, and GMEB/USDT, then expanded with 7 more tokenized-asset pairs, $SOXLB, $SOXSB, $SNDKB, $SNXXB, $DRAMB, $SPYB, and $KORUB, and was independently audited by BailSec, shipped to the highest security bar while still pushing DeFi forward. Read the [case study](https://docs.pancakeswap.finance/trade/pancakeswap-infinity/hooks/shared-inventory-hook/rwa-capital-inefficiency-and-how-shared-inventory-solves-for-it) on how Shared Inventory solves RWA capital inefficiency and [full breakdown](https://blog.pancakeswap.finance/articles/introducing-shared-inventory-hook-by-pancakeswap) on how it works.

## **🌐 Ecosystem**

**CoinMarketCap published a deep dive on PancakeSwap's onchain ledger**, examining supply, burns, fees, and how CAKE stacks up against every major DEX, timed to the protocol's 35-month deflation streak.

**The Syrup Pool roster kept growing all month.** New pools launched with GRVT (stake CAKE to earn GRVT, or GRVT to earn CAKE), dappOS ($DOS, the AI company building accessible AI products), KiiChain ($KII, the onchain layer for 24/7 currency swaps, cross-border payments, and agentic settlement), and TermMax ($TMX, fixed-rate term-based lending, borrowing, and looping strategies onchain).

**Two trading competitions rode on the back of those launches:** a $DOS competition with 266,666 DOS up for grabs, and a $TMX competition with 833,333 TMX up for grabs, both 14-day, swap-to-enter campaigns. The GRVT x PancakeSwap Trading Competition also wrapped this month, with 333,333 GRVT distributed to eligible winners.

**$QUID went live on PancakeSwap via Base**, courtesy of Squid Router, the cross-chain router that moves crypto across 100+ chains. A 14-day trading competition followed, with 666,667 QUID up for grabs.

**Real-world compute came onchain**: the $ACU-USDC pool launched on Base with Acurast, a decentralized compute network powered by 286K+ real phones, and incentivized DGAI-USDT pools launched on BNB Chain and Arbitrum with dgrid.ai, which routes AI requests across a distributed grid of independent nodes and models.

**BNB Chain's Build the Era hackathon opened, with PancakeSwap as a track partner** for onchain agents, as more than 200,000 AI agents have now registered on BNB Smart Chain.

## **🌍 Community**

**The Mystery Stocks contest kept the community engaged and rewarded** throughout the month, with winners announced and prizes distributed weekly on the Stock Terminal.

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Stack'em,

The Chefs 🥞