_Disclaimer and Risk Warning: This content is for general information and educational purposes only, without representation or warranty. It should not be construed as financial, legal, or other professional advice, nor intended to recommend purchasing any specific product or service._

We're kicking off **PancakeSwap Dual Investment Week!  🥞**
Learn how Dual Investment works, test your knowledge in our Telegram communities, or share your subscription on X and Telegram for a chance to win a share of **$2,400 in USDT rewards!**
Five days, three challenges, and 140 reward slots up for grabs. 👀

### **What is PancakeSwap Dual Investment?**
Dual Investment lets you explore Buy Low and Sell High strategies for BTCB and ETH by choosing a target price and settlement date.
At settlement, the price determines which asset you receive, along with the applicable rewards. Your funds are locked until settlement, and the value of the assets you receive may fluctuate.
Explore Dual Investment at https://pancakeswap.finance/dual-investment

### **Campaign**
Dual Investment Week runs from Nov 2nd to Nov 6th UTC across PancakeSwap's Telegram community and X.
There are three activities: **Daily Quiz, Settlement Challenge, and Subscription Challenge. You can join one or all three!**

### **How to Participate & Win**
#### **📚 Daily Learn & Earn Quiz (Monday–Thursday)**
Learn something new about Dual Investment every day in our Telegram community.
1. Read the daily lesson posted in the group (Lesson Card will be posted on 6:00 UTC Daily).
2. Answer the Telegram quiz poll correctly before 16:00 UTC same day. 
3. Get entered into that day's random draw!
Each day is a separate round, with topics covering Dual Investment basics, Buy Low vs. Sell High, APR, settlement outcomes, and risks.

**Rewards: 10 winners per community DAILY, $10 each.**

#### **🎯 Friday Settlement Challenge**
Think you've mastered Dual Investment?
We'll post three hypothetical BTCB and ETH settlement scenarios in our Telegram community on Friday Nov 6.
1. Read the three scenarios.
2. Answer all three quiz questions before 16:00 UTC same day.
3. Get all three correct to enter the random draw!
**Rewards: 10 winners per community, $20 each.**

#### **🚀 Subscription Challenge (X & Telegram)**
Ready to explore Dual Investment? Complete an eligible subscription and share it for a chance to win!
**On X:**
1. Complete a Dual Investment subscription on [PancakeSwap](https://pancakeswap.finance/dual-investment).
2. Quote-tweet the main campaign post with a screenshot of your subscription and your target price.

**On Telegram:**
1. Complete a Dual Investment subscription on [PancakeSwap](https://pancakeswap.finance/dual-investment?utm_source=telegram&utm_medium=tg&utm_campaign=dual-investment&utm_content=tg-campaign).
2. Reply to the official campaign post in the English or Chinese Telegram group with your subscription screenshot and target price.

**Entry Rules:**
- Each subscription transaction hash counts as one entry.
- Each subscription must be worth at least $20 USD or equivalent.
- You can enter on X, Telegram for up to 2 chances, using a different subscription for each channel.
- The same transaction hash can only receive one reward across all channels.
- The same wallet can win multiple times with different qualifying subscriptions.
**Rewards: 40 winners across X and Telegram, $30 each.**
All winners are selected randomly from valid entries.

### **Rewards**
A total of **$2,400 USDT** is up for grabs!
**Daily Quiz:** 10 winners per community daily (Mon–Thu), $10 each — $800 total
**Settlement Challenge:** 10 winners per community, $20 each — $400 total
**Subscription Challenge:** 40 winners across X and Telegram, $30 each — $1,200 total

**Rewards will be distributed within one week after the event ends.**

### **Important Notes**
- Daily Quiz and Settlement Challenge entries are only valid in PancakeSwap's official English and Chinese Telegram community.
- Each daily quiz is a separate round. Missing one day does not affect eligibility for other days.
- Subscription Challenge entries must be completed during the campaign period.
- Subscription Challenge winners must contact @PancakeSwap on X or the official Telegram admins within 72 hours of the winner announcement and provide their subscription transaction hash.
- The team will verify qualifying subscriptions onchain. Rewards will be sent to the wallet that made the subscription.
- Screenshots should not reveal sensitive information. Never share your seed phrase or private keys.
- Dual Investment subscriptions are voluntary and involve financial risks, including asset conversion and funds being locked until settlement. Product rewards do not guarantee an overall profit.

### **Terms & Conditions**
- Only valid Dual Investment subscriptions completed through PancakeSwap during the campaign period qualify for the Subscription Challenge.
- Each qualifying subscription must be a single transaction worth at least $20 USD or equivalent. Multiple smaller subscriptions cannot be combined.
- Each transaction hash may be submitted once and can only receive one reward. Participants may enter up to three times across X, Telegram using different qualifying transactions.
- Subscription Challenge entries must include a valid screenshot and target price in the designated X or Telegram campaign post.
- Daily Quiz entries must have the correct answer to qualify. Friday Settlement Challenge participants must answer all three questions correctly.
- Winners who fail to provide valid transaction details within 72 hours of the announcement will forfeit their rewards.
- Duplicate, fraudulent, or otherwise ineligible entries may be disqualified.
- Participation is subject to applicable laws, product availability, and eligibility restrictions.
- PancakeSwap reserves the right to make final decisions regarding campaign eligibility and disputes, subject to applicable law.

Good luck! 🥞

Learn how Dual Investment works, test your knowledge in our Telegram communities, or share your subscription on X and Telegram for a chance to win a share of $2,400 in USDT rewards!

Dual Investment Week: Learn, Quiz & Win $2,400 in Rewards!

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.

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

Stack'em,

The Chefs 🥞

Kitchen Report: August 2026

👨‍🌾Minted:  674,316

🔥Burned: 2,746,334

📉Net Mint: 2,072,018

🔻% of total supply burned: -0.624% 

🐰This marks the 36th consecutive month of CAKE total supply reduction, with a cumulative -59,702,882 net mint (current total supply – peak total supply).

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

Our August 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  Sep 7, 2026, PancakeSwap has successfully burned -0.624% of the CAKE total supply for August  2026. To calculate this percentage, we divided the total net mint of -2,072,018 CAKE by the initial total CAKE supply on  Sep 7th, 2026. This marks the 36th consecutive month of CAKE total supply reduction, with a cumulative -59,702,882 CAKE  since September 2023.

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

In August 2026, PancakeSwap achieved a net mint of -2,072,018 CAKE. This negative net mint indicates that more CAKE tokens were burned than minted during the month.

**August Mint Breakdown**

- Farms: 226,127
- Other Product Usage: 123,955
- Ecosystem Growth: 324,234
- Total August 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.*

**August Burn Categories**

- Core AMM: 2,618,063
- Side Products: 128,271
- Total August Burn: 2,746,334

*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.*

August CAKE Burn Report

Quoting five pairs shouldn't cost five times the capital. But onchain, that's the deal every asset issuer gets: liquidity is tied to each pair, so every new pair means putting up another chunk of capital - most of it just sitting there, earning nothing until that exact pair trades within the exact price range. Every time you want to quote a new pair, you LP fresh capital into it — capital that's then locked to that one pair and can't be used anywhere else.

The Shared Inventory Hook (SIH) breaks that link. It's the newest hook on PancakeSwap Infinity — and the first built for capital efficiency. 

*💡 Recap: A hook is a smart contract (like an add-on) that plugs into an Infinity pool and runs custom logic mid-swap — no new venue to spin up.*

So how does it work? 

Instead of locking a separate stack in every pool, an RWA asset issuer funds **one shared inventory**, and the shared inventory hook quotes depth from it into whichever pair is trading — just-in-time, right as the swap happens. Think of it as one stock room supplying every dish in the kitchen, instead of a separate stock room for each. One balance does the work of many.

That single shift is what makes SIH capital efficient, and it shows up three ways:

- **Capital stays active and working.** Liquidity from the hook inventory is injected just-in-time on a swap, so it's actively working and earning you fees instead of sitting idle.
- **Fee opportunity from one balance, across multiple pairs.** One inventory earns across all the pairs it serves, so you capture fee flow with far less capital deployed.
- **Lower price impact.** Because the liquidity quoted at swap time is deeper, large trades see lower price impact whenever SIH is quoting the best price.
- **Increased capital efficiency.** Fund once; the same capital backs depth across every SIH-enabled pair. Plus, you can enable SIH for a new pair without adding capital.

> **Already convinced? Bring your assets onchain the capital efficient way — fill out this form → https://forms.gle/LV24KsoDfJdu2RQU9
> 

## The proof is onchain

SIH went live with bStocks this August, and the number that matters most is how hard that capital works. On the latest hook snapshot (21 Aug 2026), 75% of the shared inventory is actively deployed across the three pairs (hook inventory ~$297K, active ~$224K). On the two mature pairs, CRCLB and MUB, utilization is ~99% (98.96% / 98.95%). Capital that would sit idle in traditional V3 CLAMM pools is in range and quoting here.

In its first weeks (through 21 Aug), the three pairs traded ~$710K across 5,713 swaps — served from a shared inventory of ~$297K, earning LP fees at a 0.25% tier.

***Sources:** Internal Dune Dashboard*
**Live pools:** [CRCLB/USDT](https://pancakeswap.finance/liquidity/pool/bsc/0x311af0ed06dd701fddc4e7c6a74023dd0cf866ee9635788425fb0eff9c4c5d13) · [MUB/USDT](https://pancakeswap.finance/liquidity/pool/bsc/0x772906e0ff95e562c34151e17c03666d5623146389f53706aeb11d9570d93640) · [GMEB/USDT](https://pancakeswap.finance/liquidity/pool/bsc/0x852edfc1051132f9d42e045a7e2501e6f8510d36f8c8c13b24ff32bdad395ddb)

## Where this is headed

The model is built to scale — more pairs, one shared balance stretching across thousands of markets trading 24/7. It's the fastest path we've seen to putting a token's full pair lineup onchain without multiplying the capital behind it.

Live SIH pools sit on the [PancakeSwap Earn 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) — open **Infinity** and look for **Shared Inventory** under pool features. SIH is currently enabled on CRCLB / USDT, MUB / USDT and GMEB / USDT.

![Screenshot 2026-08-18 at 7.25.01 PM.png](https://sgp1.digitaloceanspaces.com/strapi.space/437498c0f252d01496fa674bdf6682e6.png)

*Note: Retail LPs can already add liquidity to these pools from Earn — that deposit becomes resident pool liquidity, held separately from the shared inventory.*

***Important:*** 

*SIH is less exposed to price drift than a standard LP position because inventory is only put to work at the moment of a swap. It isn't risk-free. The operator still holds inventory that moves with the market. As with any onchain strategy, outcomes depend on volume, inventory, hedging, and market conditions.*

Ready to maximize capital efficiency? Get your token pairs SIH-enabled now → https://forms.gle/LV24KsoDfJdu2RQU9

Or read more about SIH on [our docs page.](https://docs.pancakeswap.finance/trade/pancakeswap-infinity/hooks/shared-inventory-hook) 

Stack'em,
The Chefs 🥞

---

*Disclaimer: This content is for general information and educational purposes only. It should not be construed as financial, legal, or other professional advice. Digital asset prices can be volatile. The value of your investment may go down or up.*

The Shared Inventory Hook (SIH) is the newest hook on PancakeSwap Infinity — and the first built for capital efficiency

Introducing Shared Inventory Hook by PancakeSwap

*Disclaimer and Risk Warning: This content is for general information and educational purposes only, without representation or warranty. It should not be construed as financial, legal, or other professional advice, nor intended to recommend purchasing any specific product or service.*

We're kicking off PancakeSwap's Stock Terminal: Mystery Stocks. Solve 3 mystery stocks daily, swap or share, and win. Bonus clues on Telegram and Discord 👀

Work out what they are, enter, and you're in the draw.

## What is the PancakeSwap Stock Terminal?

The PancakeSwap Stock Terminal gives you direct access to 1,000+ tokenized stocks, ETFs and other real-world assets directly onchain - and provides you the best quotes across several top issuers so you get the best available price for each stock. Available for assets across multiple issuers include bStocks, Ondo, xStocks, Robinhood, and with availability across multiple chains - BNB Chain, Ethereum, Robinhood Chain, and Solana. 

Explore the Stock Terminal at https://pancakeswap.finance/stocks

## Campaign 

Clues drop daily for 3 Mystery Stocks Daily! 

Each day is a separate round. Entries for each day's stocks close at 11:00pm UTC that same day.

## How to Participate & Win

There are two separate reward pools: **Swap** and **Share**. You can enter one or both. Entering both gives you one entry in each pool.

### 🔁 Swap

To qualify for the Swap Pool random draw, complete a single swap of **$24 (±$1, slippage included)** of any one of that day's three mystery assets on the PancakeSwap Stock Terminal.

- Swap must be made through the **Stocks page** on the PancakeSwap site, aka the Stock Terminal page: https://pancakeswap.finance/stocks 
- Swaps via any issuer, any chain of the correct daily Mystery Stocks are eligible 
- The swap must be a **single transaction** to qualify as an entry. Multiple smaller swaps do not add up to the qualifying amount.
- The swap must take place between **8:00am UTC and 11:00pm UTC** on the same day the clue is published, to qualify as an entry. 

**Important note: only swaps made through the PancakeSwap Stock Terminal front end (Web or Mobile interface) are eligible.** Swaps made through external aggregators, contract interactions or other platforms will not count.

### 📣 Share

To qualify for the Share random draw, complete both of the following on X:

1. Quote-tweet the main campaign post with a screenshot of the Stock Terminal. The screenshot must clearly show the Stock Terminal. Quote-tweets of the individual clue posts do not count.
2. Comment your guess(es) and tag 2 friends in the replies of the main campaign post, daily. 

We will verify winners have completed both the QT and comment to be eligible. 

All actions must be completed by **11:00pm UTC** on the same day the clue is published to qualify. 

**Important note: "share" entries only count on X.** Bonus hints are published in PancakeSwap's official Telegram and Discord channels.

## Rewards

A total of **$2,400+** is up for grabs the first week! 

- **Swap:** 7 winners DAILY, $40 each  
- **Share:** 7 winners DAILY, $30 each  

All winners are drawn at random from the pool of valid entries for that day.

### Important Notes

- Participants can enter both the "Swap" and "Share" prize pools, and Swap any (or all 3) of the Mystery Stocks. 3 Swaps of 3 different Mystery Stocks count as 3 separate entries, 2 Swaps of 2 different Mystery Stocks count as 2 separate entries, and etc. 
- Each day is drawn separately. Not entering on one day does not affect your eligibility on any other day.
- "Swap" Prize Pool rewards are distributed automatically to the qualifying wallet address. No action is required from Swap Prize Pool winners.
- "Share" Prize Pool winners must DM us their wallet address by **26 August, 4:00pm UTC** to claim. This is a single deadline covering the first week of the campaign. Unclaimed rewards after this deadline are forfeited.

## Terms & Conditions

- Only swaps made on the PancakeSwap Stock Terminal Stocks page (Web or Mobile version) qualify for the Swap Pool. Swaps made through external aggregators, routers, or other platforms will not count towards this campaign.
- Qualifying swaps must be for one of the three mystery stocks published for that day. Swaps in any other stocks will not count towards any part of this campaign.
- A qualifying swap must be a single transaction of $24 (±$1, slippage included), i.e. any value between $23 and $25 USD, measured at the time of the swap. Multiple smaller swaps are not aggregated — e.g., two swaps of $12 do not qualify.
- "Share" entries must satisfy all three required actions. Incomplete entries, entries with unreadable or cropped screenshots, or entries that quote-tweet a post other than the main campaign post will be disqualified.
- PancakeSwap reserves the right to disqualify entries that do not meet the eligibility requirements from the random draw.
- In the event of any dispute, PancakeSwap reserves the right to make all final decisions regarding the campaign.

Good luck 🕵️

Daily mystery stocks. $2,400+ in rewards this week. Everything you need to know about the Mystery Stocks.