The largest decentralized exchange on BNB Chain, PancakeSwap, has launched CakePad — a platform that offers users early access to new tokens without staking or lock-ups, and before they are listed on exchanges.
Rebranded from the Initial Farm Offerings (IFO) product, CakePad lets any wallet holder “commit CAKE” during a sale window and later claim the new asset. The new format, announced on Monday, replaces the prior IFO rules that required staking and stricter participation steps.
Early-access token venues have proliferated across the crypto industry. Centralized exchanges operate similar funnels, including Binance’s Launchpad/Launchpool and the “Binance Alpha,” which features tokens ahead of broader spot listings.
Typically, these venues require users to lock exchange tokens or accumulate platform points. CakePad, by contrast, claims to focus on non-custodial participation, no lock-ups, and fee burns tied to oversubscribed sales. “No staking. No lock-ups. Just commit CAKE and claim new tokens,” PancakeSwap wrote on X.
PancakeSwap said 100% of participation fees collected through CakePad will be permanently burned. The mechanism is meant to support a deflationary tokenomics target and allow users to participate in multiple sales with no hard cap on committed CAKE.
According to a blog post, a “fair tiered subscription tax” is also designed to kick in when sales are oversubscribed, with the tax rate decreasing as oversubscription rises. PancakeSwap did not name initial projects or timelines for the first CakePad sales.
The rollout is framed as part of CAKE Tokenomics 3.0, PancakeSwap’s broader effort to increase utility and drive supply reduction for its native token. PancakeSwap previously outlined a long-term goal of about 4% annual deflation and an estimated 20% supply reduction by 2030 through buyback-and-burn mechanisms.
In previous PancakeSwap-related news, the DEX led DeFi exchanges in spot volume in July. It also recorded $79.8 billion in trading last month despite a broader decline in crypto spot exchange volume.
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