👨‍🌾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

**CAKE holders on opBNB are advised to bridge their tokens out of the network before Nov 23 00:00 UTC.**

Following LayerZero's decision to end offchain support for opBNB, the LayerZero-powered CAKE bridging route from opBNB will be discontinued on **Nov 23 00:00 UTC**.

If you currently hold CAKE on opBNB, please complete your transfer before the deadline to avoid disruptions.

## What Is Changing?

LayerZero has announced that the services that verify and deliver crosschain transfers will no longer be available for opBNB.

As a result, the LayerZero-powered route for bridging CAKE out of opBNB will no longer be supported after the deadline above. This affects only people who hold CAKE on opBNB.

CAKE itself and the opBNB network are not being discontinued.

## What Do CAKE Holders on opBNB Need to Do?

Bridge your CAKE to another network before **Nov 23 00:00 UTC**.

Follow these steps:

1. **Visit the official bridge:** https://pancakeswap.finance/bridge?chain=opBNB
2. **Connect your wallet:** use the wallet that holds your CAKE on opBNB.
3. **Choose your networks:** select opBNB as the source and pick your destination network.
4. **Select CAKE and enter the amount** you want to bridge.
5. **Review and confirm** the transaction in your wallet.

## What Happens After the Deadline?

Starting Nov 23 00:00 UTC, the LayerZero-powered route for bridging CAKE out of opBNB will no longer be supported, so you won’t be able to use it to move your CAKE to another network.

We strongly recommend bridging well ahead of the deadline to allow sufficient time for transaction processing.

## Key details

- **Deadline:** Nov 23 00:00 UTC
- **Affected users:** CAKE holders on opBNB
- **Required action:** Bridge CAKE from opBNB to your destination network before the deadline
- **Official bridge:** https://pancakeswap.finance/bridge?chain=opBNB

Use only official PancakeSwap links. We will never DM you offering bridging help or ask for your seed phrase. Be cautious of fake websites and accounts claiming to assist with bridging. If you’re unsure, check the link against this post or our official channels.

For further updates, please follow PancakeSwap's official channels.

LayerZero is ending support for opBNB. If you hold CAKE on opBNB, bridge it out to BNB Chain before Nov 23, 00:00 UTC. Here’s how.

Action Required: CAKE Bridging on opBNB via LayerZero to Be Discontinued

PancakeSwap is rolling out updated **bStocks on-chain Tier** rules for upcoming Pre-Access campaigns, so active bStocks users can unlock even higher subscription quotas.

Eligible users can participate in time-limited campaigns offering tokenized, indirect exposure linked to private companies ahead of a potential public listing.

Now your bStocks trading and holdings can help you unlock a bigger subscription quota for these opportunities!

&nbsp;

## More bStocks Activity, Higher Potential Pre-Access Quota

![preaccess one pager.png](https://sgp1.digitaloceanspaces.com/strapi.space/b6a973568b820dee8b6dd07b9b1762b2.png)

Your Pre-Access subscription quota determines the maximum amount you can subscribe for during a campaign. **A higher quota means more room to participate in opportunities you're interested in.** It does not guarantee your final allocation.

Your total quota is calculated using three components:

**Total Quota = Binance Wallet Alpha Points Quota + Binance Wallet Trencher Badge Quota + Binance Wallet bStocks on-chain Tier Quota**

**Binance Wallet Alpha Points Quota**

Earn points by being active. Calculated daily from the sum of your Volume and Balance over the past 15 days.

**How to Apply for Binance Wallet Trencher Badge**

Applications for Trencher Badge status are submitted through a Binance Wallet Survey.

Use the Chinese survey link for users viewing Chinese-language content. Use the English survey link for all other languages.

- [Chinese Survey](https://www.binance.com/zh-CN/survey/b476b5f737754e16974a74b34426600f)
- [English Survey](https://www.binance.com/en/survey/38e09d6745a841cfad636bf4e92cc190)

The new bStocks on-chain Tier gives users another way to potentially boost their quota through their bStocks activity.

&nbsp;

## How to Unlock a Higher bStocks Tier

Your tier is determined by two factors:

**1. Trade bStocks**

Your bStocks trading volume through Binance Wallet counts toward your tier, including bStocks Meme trading activity.

**2. Hold bStocks**

Your eligible tokenized bStocks holdings on Binance Wallet (Keyless), including assets deployed in LP positions and DeFi staking within the wallet, also contribute to your tier. Both trading volume and holdings are considered together when determining your tier.

**The higher your qualifying tier, the greater your potential bonus subscription quota!**

&nbsp;

## Trade Early, Tier Higher, Timing Matters!

Your bStocks Tier is calculated based on your activity during the **30 calendar days before a Pre-Access project's official announcement**.

- **Before the announcement:** Qualifying bStocks trades and holdings count toward your tier.
- **After the announcement:** New trades or additional holdings won't increase your tier for that campaign but may count toward future campaigns.

This means your activity ahead of upcoming announcements could make a difference.

&nbsp;

## Get Ready for Upcoming Pre-Access Campaigns

Want to potentially unlock a higher subscription quota?

**Start exploring bStocks through Binance Wallet & PancakeSwap, keep holding and trading for upcoming campaigns!**

With more Pre-Access opportunities on the horizon, your bStocks activity could help you qualify for a higher subscription limit.

Stay tuned to PancakeSwap's official channels for upcoming campaign announcements, tier details and participation instructions.

**Explore bStocks. Build your activity. Unlock more Pre-Access opportunities!**

&nbsp;

## Important Information

- The bStocks on-chain Tier is one component of a user's total Pre-Access quota.
- Tier thresholds, bonus quotas, eligible assets, eligible trading pairs and calculation methods may vary between campaigns.
- Final Tier results, eligibility and subscription quotas will be determined by the applicable Pre-Access campaign page, project announcement and terms.
- Campaign availability may be subject to user eligibility and regional restrictions.
- [More about PancakeSwap Pre-Access Portal](https://blog.pancakeswap.finance/articles/pre-access-portal)

Your bStocks trading and holdings now count toward your bStocks On-Chain Tier, boosting your Pre-Access subscription quota

Trade bStocks, Unlock More Opportunities on PancakeSwap Pre-Access Campaign

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.