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.

Mystery Stocks: PancakeSwap Stock Terminal | $2,400+ in Rewards

*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.*

## **What is DAPPOS?**

DAPPOS builds low-barrier AI products that put powerful AI in everyone's hands, without the learning curve. Its flagship product, xBubble, is a low-prompt AI agent that turns simple requests into ready-to-use results. xBubble lowers the barrier by automatically coding, testing, and dispatching task-specific AI SOP solutions, so users can focus on their goals rather than manually coding skills or operating AI.

Learn more at [](https://grvt.io/)https://dappos.com/

## **Campaign Duration**

Start: Aug 11th, 8:00am UTC

End: Aug 25th, 8:00am UTC

**DOS Official Contract Address:** 0xB0f09ea9ae0515C3551080D4a745C8115aA30e37  

**Contract on BscScan:** 0xB0f09ea9ae0515C3551080D4a745C8115aA30e37  

## **How to Participate & Win**

**To qualify for the** **random draw**, trade at least $500 in DOS pairs on BNB Chain through the PancakeSwap site during the campaign period. The minimum volume can be achieved through a single trade or multiple trades in DOS pairs.

**Important note: only trades made through the PancakeSwap Swap Page are eligible.**

### **Tiers & Rewards**

- Tier 1: Trade $500+ → 200 winners get 500 DOS = 100,000 DOS
- Tier 2: Trade $2,000+ → 100 winners get 1,000 DOS = 100,000 DOS
- Tier 3: Trade $5,000+ → 41 winners get 1,626 DOS = 66,666 DOS

**A total of 266,666 DOS is up for grabs!**

### **Important Note:**

Each wallet address can only win one prize across all three tiers.

- **Tier 3 Qualifiers:** If you qualify for Tier 3, your wallet will first be drawn for Tier 3. If you don’t win the Tier 3 prize, your wallet will be considered for the Tier 2 draw. If you don’t win there, you will be considered for Tier 1.
- **Tier 2 Qualifiers:** If you qualify for Tier 2, but not Tier 3, your wallet will first be drawn for Tier 2. If you don’t win the Tier 2 prize, you will be considered for Tier 1.

### **Terms & Conditions**

- All qualifying trades must involve DOS tokens. Only trades in DOS trading pairs will be eligible. Trades in pairs that do not include DOS will not count toward any part of this campaign.
- Only trades made on the PancakeSwap Swap Page (Web or Mobile Version) (including Infinity, V2 and V3 interfaces) qualify. Trades made through external aggregators or platforms will not count towards this campaign.
- Important: PancakeSwap reserves the right to disqualify any addresses suspected of unfair trading practices through the lens of the trading competition. This may include, but is not limited to: self-dealing, wash trading, false trading, and etc. A filter and analysis of trades that exhibit unusual behaviours to gain an advantage towards the ‘random draw’ will be conducted and excluded from the random draw.
- The PancakeSwap Swap Page (Web interface & Mobile) refers to trades made through the PancakeSwap FE. Trades made through external aggregators or platforms will not count towards this campaign.
- Each wallet address can win a maximum of one reward.
- All the rewards will be distributed in DOS tokens within 2 weeks after the trading competition’s end date.
- PancakeSwap reserves the right to suspend, or postpone the trading competition.
- 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 Giveaway.
- The information provided here is not intended as financial advice. It does not constitute a solicitation, recommendation, endorsement, or offer by PancakeSwap to buy, sell, or invest in any digital assets.

Good luck, and may the best traders win! 🥞

### Winners List

0x.....3c27

0x.....e826

0x.....5494

0x.....59b0

0x.....1F37

0x.....94b7

0x.....e31C

0x.....4727

0x.....Ea40

0x.....19ed

0x.....D9Fe

0x.....4CE3

0x.....d3c9

0x.....0723

0x.....8b24

0x.....3034

0x.....C911

0x.....a758

0x.....8b38

0x.....3A31

0x.....dF6E

0x.....fD4F

0x.....e27d

0x.....8c15

0x.....91C0

0x.....DedA

0x.....4C11

0x.....458F

0x.....a4FE

0x.....1506

0x.....935A

0x.....b969

0x.....a53A

0x.....42d7

0x.....6B7D

0x.....a74E

0x.....59B5

0x.....fCf4

0x.....8cd2

0x.....ED45

0x.....f859

0x.....64ae

0x.....7bD3

0x.....608C

0x.....207E

0x.....4731

0x.....6a27

0x.....70e3

0x.....dDDD

0x.....7320

0x.....4060

0x.....c96B

0x.....e003

0x.....39Ca

0x.....a5af

0x.....e23E

0x.....6786

0x.....5659

0x.....082A

0x.....9C19

0x.....94f9

0x.....a376

0x.....8888

0x.....13D9

0x.....7Fe9

0x.....eACE

0x.....0AF0

0x.....e31B

0x.....5502

0x.....e896

0x.....05e2

0x.....c42D

0x.....8017

0x.....7cb9

0x.....99d1

0x.....aCBA

0x.....CF77

0x.....79f0

0x.....73f4

0x.....6669

0x.....a78D

0x.....dDb9

0x.....dfF4

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0x.....85dE

0x.....F3F3

0x.....F5D1

0x.....D143

0x.....149C

0x.....52D1

0x.....8888

0x.....b497

0x.....4B44

0x.....4F38

0x.....79D0

0x.....748E

0x.....1Bc4

0x.....c2d5

0x.....D8CE

0x.....9de0

0x.....63C3

0x.....1E8d

0x.....B231

0x.....a451

0x.....c271

0x.....d9Ff

0x.....8fa6

0x.....5C7c

0x.....4975

0x.....4000

0x.....D1c1

0x.....7Ea6

0x.....9CeC

0x.....1f56

0x.....7Beb

0x.....8DFc

0x.....eD74

0x.....4980

0x.....1739

0x.....01Da

0x.....1234

0x.....D6bC

0x.....3d35

0x.....3c9E

0x.....942a

0x.....7eBB

0x.....799F

0x.....f3c5

0x.....8bf5

0x.....04fA

0x.....46C5

0x.....9C35

0x.....Fa69

0x.....e71D

0x.....d194

0x.....560F

0x.....9090

0x.....f17F

0x.....da46

0x.....69Eb

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0x.....ff52

0x.....7738

0x.....efD9

0x.....ec2E

0x.....a160

0x.....9725

0x.....cB22

0x.....BC58

0x.....68aA

0x.....91aC

0x.....4bBF

0x.....2A2a

0x.....4333

0x.....7aF3

0x.....FA20

0x.....D0bb

0x.....f9Bf

0x.....317f

0x.....1810

0x.....899C

0x.....c996

0x.....F018

0x.....d5a4

0x.....BaDD

0x.....eC60

0x.....f621

0x.....2763

0x.....A093

0x.....0629

0x.....330a

0x.....2881

0x.....AC3a

0x.....5328

0x.....2F4C

0x.....e8c7

0x.....8890

0x.....CA71

0x.....eA69

0x.....F744

0x.....DA7b

0x.....27a8

0x.....1555

0x.....9Bbb

0x.....0237

0x.....645c

0x.....492D

0x.....459b

0x.....55eF

0x.....31dc

0x.....B606

0x.....075F

0x.....4FaA

0x.....2418

0x.....7973

0x.....D558

0x.....1F44

0x.....9d76

0x.....F768

0x.....338A

0x.....d570

0x.....Fa6b

0x.....9cD1

0x.....cadB

0x.....9f4B

0x.....96bf

0x.....D37E

0x.....7714

0x.....7744

0x.....B6Ba

0x.....aaCA

0x.....DDf6

0x.....118D

0x.....F0F5

0x.....2004

0x.....797B

0x.....7926

0x.....B168

0x.....3336

0x.....e678

0x.....adea

0x.....4f6b

0x.....e73A

0x.....733B

0x.....E805

0x.....beBb

0x.....C002

0x.....8aC9

0x.....8C68

0x.....f875

0x.....6Ac5

0x.....c744

0x.....29a6

0x.....7223

0x.....3f02

0x.....30e9

0x.....5D92

0x.....F948

0x.....9299

0x.....9BCe

0x.....9a09

0x.....8925

0x.....23f4

0x.....E3a5

0x.....E7C9

0x.....B2De

0x.....c92f

0x.....87C6

0x.....6222

0x.....f163

0x.....0dca

0x.....0F0A

0x.....5B83

0x.....6DDB

0x.....98DF

0x.....bBBB

0x.....6982

0x.....2F34

0x.....ddAd

0x.....03F3

0x.....Eb3D

0x.....0439

0x.....A0A5

0x.....c2d3

0x.....24C8

0x.....6b5E

0x.....9E3C

0x.....3506

0x.....8584

0x.....8F88

0x.....2639

0x.....FaE4

0x.....C9Ef

0x.....35eb

0x.....28bA

0x.....7F0F

0x.....5Ce2

0x.....980E

0x.....48b7

0x.....ba59

0x.....Ef22

0x.....3cc5

0x.....2a02

0x.....F87C

0x.....096b

0x.....27D1

0x.....B1aA

0x.....df83

0x.....36a6

0x.....04cB

0x.....5808

0x.....2DAc

0x.....9c20

0x.....012d

0x.....6C12

0x.....bf7b

0x.....b2F4

0x.....a784

0x.....B03e

0x.....eBAd

0x.....5E8A

0x.....d3e0

0x.....C838

0x.....7144

0x.....f222

0x.....5BE3

0x.....92b4

0x.....8359

0x.....d554

0x.....5895

0x.....2B84

0x.....Ad1b

0x.....6546

0x.....c656

0x.....7000

0x.....637A

0x.....d9eb

0x.....5bca

0x.....C304

0x.....47eA

0x.....fd6f

0x.....5CcC

0x.....E7c7

0x.....bA50

0x.....d666

0x.....1240

0x.....2801

0x.....D1AD

0x.....a432

0x.....0605

0x.....3dA1

0x.....9d92

0x.....1C8A

0x.....F29E

0x.....fafF

0x.....B22B

0x.....48b1

0x.....893e

0x.....d546

0x.....5DaD

0x.....9f11

Trade DOS on PancakeSwap for your chance to win from a 266,666 QUID prize pool. 

PancakeSwap x DOS Trading Competition | 266,666 DOS in Rewards 

👨‍🌾Minted:  674,316
🔥Burned: 1,944,441
**📉Net Mint: -1,270,125**
🔻% of total supply burned: -0.380%

🐰This marks the 35th consecutive month of CAKE total supply reduction, with a cumulative -57,221,657 net mint (current total supply – peak total supply).

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

Our July 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  Aug 3, 2026, PancakeSwap has successfully burned -0.380% of the CAKE total supply for July  2026. To calculate this percentage, we divided the total net mint of -1,270,125 CAKE by the initial total CAKE supply on  Aug 3rd, 2026. This marks the 35th consecutive month of CAKE total supply reduction, with a cumulative -57,221,657 CAKE  since September 2023.

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

In July 2026, PancakeSwap achieved a net mint of -1,270,125 CAKE. This negative net mint indicates that more CAKE tokens were burned than minted during the month.

### **July Mint Breakdown**

- Farms: 222,881
- Other Product Usage: 123,957
- Ecosystem Growth: 327,479
- Total July 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.*

### **July Burn Categories**

- Core AMM: 1,831,435
- Side Products: 113,006
- Total June Burn: 1,944,441

*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.*

July Cake Burn Report

July was the month tokenized assets went vertical. PancakeSwap crossed $1 billion in tokenized real-world asset volume, went live on Robinhood Chain, put SK Hynix and the entire AI supply chain onchain, and passed $4 trillion in cumulative volume on BNB Chain.

## **🍰 July CAKE Burn Recap**

In July 2026, PancakeSwap achieved a net mint of -1,270,125 CAKE. This negative net mint indicates that more CAKE tokens were burned than minted during the month. This marks the 35th consecutive month of CAKE total supply reduction and continued deflationary momentum.

More than -57,221,657 CAKE has now been permanently burned since September 2023, reinforcing a healthier, more sustainable token economy powered by real usage across PancakeSwap’s products. This consistency highlights the protocol’s maturity and our long-term approach to emissions and value creation.

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

## **🥞 Product Updates**

**Tokenized assets crossed $1 billion in volume, and they are still accelerating.** In July, more than $1B in total volume traded across tokenized stocks, ETFs, bonds and more on PancakeSwap, up from $50M just a month earlier. In the final week of the month alone, over $575M traded across the industry's leading tokenized-asset issuers.

**bStocks expanded across the whole market.** bStocks, Binance's 1:1-backed tokenized U.S. stocks kept landing on PancakeSwap throughout July, with 40+ new names added across weekly batches, including the AI-era leaders (TSMC, Broadcom, Arm, Marvell, CoreWeave, Oracle, Quantinuum) and the biggest blue chips (Apple, Amazon, Alphabet, Coinbase, Goldman Sachs, PayPal, Dell). All trade fully onchain on BNB Chain, 24/7.

**PancakeSwap went live on Robinhood Chain.** PancakeSwap AMM v2 and v3 are now deployed on Robinhood Chain, the L2 built for tokenized real-world assets, letting users swap, add liquidity and earn with zero gas and built-in MEV protection. PancakeSwap X also went live on Robinhood Chain, routing trades across 90+ tokenized assets to the best available price with better quotes and built-in MEV protection.

**The Tokenized Stock Terminal now finds the best price automatically.** PancakeSwap's Stock Terminal scans quotes and liquidity across the top tokenized-asset issuers and chains, so every trade routes to the best available quote. With 1,000+ tokenized stocks now on the platform, the terminal makes onchain equity trading as simple as a single search.

**Decentralized Token Funds (DTFs) arrived on PancakeSwap.** Built with Reserve Protocol, DTFs are single tokens that hold a basket of tokenized stocks and trade 24/7. The first five DTFs put the entire AI supply chain onchain, from photonics to robotics, exposure that traditional finance simply does not package this way.

**AI trading agents came to PancakeSwap V3, built with BNB Agent Studio.** Any builder can describe a strategy in plain English and get an autonomous agent that runs it around the clock, rebalancing ranges and routing to the best yield while you sleep. Prompt in, agent out, with no manual setup. PancakeSwap also open-sourced a reference agent for ERC-8183 settlement, so developers can clone it and start building. Check out the reference agent.

## **🌐 Ecosystem**

**SK Hynix, the memory maker behind the AI boom, went onchain.** The company that supplies much of NVIDIA's AI memory became tradable on PancakeSwap through three issuers at once: as SKHYon via Ondo Finance, as SKHYx via xStocks, and as SKHYB via Binance bStocks, live across BNB Chain and Ethereum, trading with zero gas and no closing bell.

**Ondo Finance brought more stocks to 24/7/365 trading.** Successive batches of Ondo tokenized stocks and ETFs, including Micron, SpaceX, SanDisk, Marvell, Intel, AMD, TSMC, Apple, Corning, Meta and Microsoft, now trade around the clock on BNB Chain and Ethereum, weekends and holidays included.

**Tokenized Revolut came to PancakeSwap.** Pre-IPO price exposure to Revolut went live as CREV with Colb Finance on BNB Chain, extending onchain access to one of fintech's biggest private names from day one. Two new Colb Syrup Pools launched alongside it, bridging DeFi and institutional finance.

**Incentivized bStocks farms on BNB Chain.** The SKHYB-USDT and SPCXB-USDT farms let holders of tokenized SK Hynix and SpaceX stack CAKE and Merkl rewards on top of trading fees, equity exposure that earns while you hold it.

**PancakeSwap passed $4 trillion in cumulative volume on BNB Chain.** Four trillion dollars has now traded through PancakeSwap on BNB Chain across crypto, tokenized stocks, ETFs and more, a milestone that underlines its position as one of the deepest liquidity venues in DeFi.

**The incentivized SOL farms are still earning.** SOL-USDC, SOL-cbBTC and SOL-JitoSOL on Base keep paying out USDC incentives, powered by Gauntlet, Jito and Merkl. There are two ways to earn: provide liquidity directly on PancakeSwap, or deposit on Beefy to auto-compound the rewards. Add liquidity and start earning.

**XRP came to DeFi on PancakeSwap.** Clearstar Labs brought the cbXRP/FXRP pool live, letting liquidity providers earn trading fees plus extra USDC incentives via Merkl. Alongside it, two incentivized XRP pools launched with Flare Network, the L1 bringing XRP into DeFi: cbXRP-FXRP on Base and XRP-FXRP on BNB Chain. Put your XRP to work.

**PancakeSwap now powers tokenized stocks on AlloX.** AlloX went live with 36 tokenized U.S. stocks and ETFs, powered by PancakeSwap liquidity on BNB Chain. Trades settle onchain 24/7 with institutional-grade pricing via RFQ market makers, no broker and no account required, crypto and stocks in one portfolio.

**$GRVT trading competition kicked off.** 333,333 GRVT went up for grabs: trade $500 or more in GRVT on PancakeSwap to enter the lucky draw, with 341 winners over 14 days. The campaign runs through August 13.

**A new FOLKS pool went live on Arbitrum.** The FOLKS/USDC pair is now trading on PancakeSwap with deep, efficient liquidity from Folks Finance, powered by Arrakis Finance.

## **🌍 Community**

**PancakeSwap fired up the griddle at Malaysia Blockchain Week.** PancakeSwap showed up at MYBW26 in Kuala Lumpur on July 29 and 30, on the ground in the Base APAC pavilion connecting with builders and traders from across the region, showing what's shipping on PancakeSwap and where onchain finance is heading.

**A community meetup brought the ecosystem together.** On July 29, PancakeSwap hosted a dedicated meetup at the CCACC Innovation Hub with live demos, a quiz, and a fireside chat, meeting with some of the industry's top builders and partners to trade notes on tokenized assets, liquidity, and the future of onchain trading. Terima kasih, Kuala Lumpur.

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: July 2026

Tokenized real world assets crossed ~**$30B onchain** this month, and the fastest moving corner is tokenized stocks: real US equities you can trade from a wallet, anywhere in the world, any time. No brokerage account, no market hours. 

And a leading onchain venue to trade them? Hint: You're already here. 

---

## 🌐 What Are RWAs?

Real world assets (RWAs) are traditional financial assets - stocks, bonds, U.S. Treasuries, ETFs, commodities - issued as tokens on a blockchain, typically **backed 1:1** by the real asset held with a custodian.The asset stays real; only the wrapper changes. That wrapper is the focus: it moves assets that normally live behind brokers, banks, and business hours onto open rails where anyone can hold, transfer, and trade them onchain.

Here's the full menu at PancakeSwap across BNB Chain, Ethereum, Robinhood Chain, and Solana:

| RWA Category | What It Is | Issuers | Examples |
| --- | --- | --- | --- |
| **Tokenized stocks** | Real U.S. equities, onchain - deep dive below | bStocks, Ondo, xStocks, Robinhood | TSLAB, NVDAB, CRCLB |
| **Tokenized ETFs** | Onchain exposure to index and sector funds | Ondo, xStocks | S&P 500 ETF |
| **Tokenized bonds & Treasuries** | U.S. government debt exposure, onchain | Ondo Global Markets | TMUSon, USOon |
| **Tokenized gold** | Commodity exposure, onchain | Tether Gold | XAUT |

*(Full asset lists live with each issuer)*

## Tokenized Stocks in 60 Seconds

A tokenized stock is a token **backed by or tracking a real share** - in most cases held 1:1 with a licensed custodian, so one tokenized Tesla means one real Tesla share in reserve. On BNB Chain they're standard BEP-20 tokens - self-custodied, freely transferable, and composable across DeFi - and you can trade them on PancakeSwap across Ethereum, Solana, and Robinhood Chain too.

**Why they exist:** traditional stock investing is gated by geography - paperwork, minimums and FX fees. Tokenized stocks make that access borderless. A wallet and some stablecoins is the entire onboarding.

**How they get their price:** two mechanisms keep tokens glued to the real stock. Mint / redeem arbitrage against the underlying reserves anchors the peg, while Chainlink's tokenized equity feeds aggregate prices from multiple premium data providers into a tamper-resistant onchain reference — corporate actions like splits and dividends included. Backing is verifiable too: check Binance's Proof of Collateral, xStocks, and Ondo's docs.

---

## 🥞 PancakeSwap’s Tokenized Stocks Terminal: Four Issuers, One Venue

PancakeSwap's **Tokenized Stocks Terminal** is the single onchain venue where every major tokenized stock issuer lives side by side - **1000+ assets** across four issuers, with more listing regularly:

- **bStocks:** the flagship of the menu. 4**0+ tokenized U.S. securities** issued via Binance and **backed 1:1 by real shares you can verify yourself, any time**, on the live Proof of Collateral page 
Best of all: **you keep earning dividends** on the underlying stock, collected directly in your token balance - the only issuer on the menu that offers this.
- **Ondo:** **400+ tokenized U.S. stocks, ETFs, and bonds** (AAPLon, AMZNon, TSLAon).
- **xStocks:** **500+ tokenized equities and ETFs** powered by Backed, including the S&P 500 ETF, tradeable from just **$10**.
- **Robinhood:** **90+ Stock Tokens** linked to companies and ETFs including Nvidia, Google, Apple, and the Invesco QQQ, live on **Robinhood Chain** and tradeable through PancakeSwap **24/7** across 120+ countries.

## Trade on PancakeSwap: One Stop Shop for RWAs

This is the real edge:

- **Gasless trading** - trades executed through PancakeSwapX cost you nothing in gas.
- **Better pricing by design** - orders are filled through open competition between market makers, so you get the best quote, not the only quote.
- **Built for a crosschain future** - PancakeSwapX is an intent-based solution, meaning your RWA trades won't stay boxed into one chain long term.
- **The widest issuer menu** - bStocks, Ondo, xStocks and Robinhood side by side, plus Colb for pre-IPO exposure, all in one venue.
- **A true terminal, not just a swap page** - real stock market data, onchain data and company fundamentals in one view, so you can research before you trade, with issuer comparison now live.
- Near instant settlement instead of T+1.
- Full self custody - tokens sit in your wallet, not a broker's ledger.
- Composability - your tokenized stocks are DeFi building blocks - with bStocks, earning dividends the whole time.

Tokenized asset volume on PancakeSwap has already crossed **$1B cumulative,** and it's still early.

## How to Use PancakeSwap’s Tokenized Stock Terminal

1. **Open the Terminal.** Go to https://pancakeswap.finance/stocks or click **"Stocks"** in the navigation bar.

![new one 1 .png](https://sgp1.digitaloceanspaces.com/strapi.space/1e5eb2cfcc3588cdc68f3e9ccb5aba40.png)

1. **Browse the market.** Live prices and charts for every listed asset. Filter by issuer: **bStocks**, **Ondo**, **xStocks or Robinhood** — using the category selector under the search bar, or search a ticker directly. When you search a ticker directly, you can see price options by multiple issuers in the swap interface. Select one offering the best price.

![new one 2.png](https://sgp1.digitaloceanspaces.com/strapi.space/8cb4f79e6f8b4fc15297234ae90e1b0f.png)

![new 1 3.png](https://sgp1.digitaloceanspaces.com/strapi.space/1270f0996402be89639f0b8ad3022d97.png)

1. **Connect your wallet.** Any BNB Chain-compatible wallet works; hold USDT or USDC to trade with.

![wallet connect.png](https://sgp1.digitaloceanspaces.com/strapi.space/4137369ad1c2eddb54255cc268dfc802.png)

1. **Swap.** Pick your stock, enter the amount, confirm. Settlement lands in seconds, tokens go straight to your wallet. 

![Screenshot 2026-07-15 at 12.13.40 PM.png](https://sgp1.digitaloceanspaces.com/strapi.space/17c47f633bc6983d1fbd1479a31ff2ac.png)

![Screenshot 2026-07-15 at 12.13.48 PM.png](https://sgp1.digitaloceanspaces.com/strapi.space/92956ae577663ca56ce45fbac0be19f7.png)

![Screenshot 2026-07-15 at 12.14.10 PM.png](https://sgp1.digitaloceanspaces.com/strapi.space/874f13d6357fa8b6b2901eed98c4751a.png)

1. Check under ‘My Positions’ to see your holdings.

![Screenshot 2026-07-15 at 12.14.51 PM.png](https://sgp1.digitaloceanspaces.com/strapi.space/926c56239b3e6453bcf50813f8b961f3.png)

You can now hold, trade anytime, or deploy across DeFi as integrations expand.

And the menu never stops growing. 

Fresh out of the Kitchen on bStocks: 
**TSMC (TSMB), Broadcom (AVGOB), Nokia (NOKB), IBM (IBMB), Alibaba ($BABAB), Rocket Lab (RKLBB) and more** are some of the most recent additions with fresh bstocks landing regularly. Keep an eye on the Terminal; your next favorite stock might already be there.

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

Stack'em,
The Chefs 🥞

---

*Disclaimer: Tokenized stocks are not available in all regions and are subject to issuer eligibility requirements (see PancakeSwap region list). Trading involves risk, including possible loss of value. Nothing here is financial, investment, or legal advice, do your own research.*

PancakeSwap is your go to venue for RWAs - trade tokenized stocks, ETFs, bonds & gold onchain.