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.
PancakeSwap's Stock Terminal is the place to discover and trade RWAs:
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 $KORUB, and was independently audited by BailSec, shipped to the highest security bar while still pushing DeFi forward. Read the case study on how Shared Inventory solves RWA capital inefficiency and full breakdown on how it works.
CoinMarketCap published a deep dive on PancakeSwap's onchain ledger, examining supply, burns, fees, and how CAKE stacks up against every major DEX, timed to the protocol's 35-month deflation streak.
The Syrup Pool roster kept growing all month. New pools launched with GRVT (stake CAKE to earn GRVT, or GRVT to earn CAKE), dappOS ($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.
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 🥞