Developers for decentralised exchange PancakeSwap propose to cut the maximum supply of its ecosystem token, CAKE, down from 750 million to 450 million.
This reduction of 300 million tokens, valued at an estimated $1.074 billion, is proposed in a vote which will run for 24 hours.
If approved, the decrease will take effect on January 4, 2024.
The proposal comes as a response to CAKE achieving several months of consistent deflation and aims to better align CAKE with its circulating supply of 388 million.