PancakeSwap Rolls Out The Flip With 88% LP Fee Share and 69% Emission Cut
Daily CAKE emissions fall from 22,500 to 7,000 under the overhaul, and the Treasury's non-stablecoin fee share now funds buybacks.
Key Takeaways
- PancakeSwap's governance vote on The Flip closed in favor on October 24, 2026.
- Liquidity providers on v3 and Infinity receive 88% of swap fees across all 11 supported chains.
- Daily CAKE emissions fall from 22,500 CAKE to 7,000 CAKE, a cut of about 69%.
- The Treasury keeps 12% of fees and spends its non-stablecoin share on CAKE buybacks.
PancakeSwap (CAKE) is rolling out The Flip, its fee and tokenomics overhaul that gives liquidity providers 88% of swap fees and cuts daily CAKE emissions by about 69%. The governance vote on The Flip closed in favor on October 24, 2026, according to the October Kitchen Report.
The Vote That Approved The Flip
The Flip proposal went to a governance vote from October 21 to October 24, 2026, and closed in favor. It restructures how PancakeSwap distributes swap fees and how many new CAKE tokens enter circulation. The project confirmed the result in its monthly report and began implementation in November 2026. PancakeSwap is one of the most used DEX tokens in crypto, and the change applies across all 11 chains it supports.
What The Flip Changes for Liquidity Providers
Under the new split, liquidity providers on PancakeSwap v3 and Infinity receive 88% of swap fees. Before The Flip, most v3 and Infinity pools paid liquidity providers about 66% to 68% of fees. The remaining 12% goes to the PancakeSwap Treasury, and the non-stablecoin part of that share is used to buy back CAKE, feeding the protocol's regular burns. Liquidity providers receive the larger share automatically on every swap under the new split. Fee splits like this are closely watched across DeFi coins because they decide how much trading revenue flows to the people who supply liquidity. Traders can follow the market response on the PancakeSwap price chart.
How The Flip Cuts CAKE Emissions
Daily CAKE emissions fall from 22,500 CAKE to 7,000 CAKE under the new schedule, a reduction of about 69%. The cut is part of PancakeSwap's Ultrasound CAKE program, which pairs lower emissions with ongoing token burns. In October 2026 the protocol burned about 1.79 million CAKE, extending its run of monthly net supply decreases to 38 months, according to the October CAKE Burn Report. At the old emission rate, October minted roughly 675,000 CAKE, well below the amount burned that month. The new schedule cuts the daily mint to 7,000 CAKE.
Frequently Asked Questions
What Is PancakeSwap The Flip?
The Flip is PancakeSwap's fee and emissions overhaul. It raises the liquidity provider share of swap fees to 88% and cuts daily CAKE emissions from 22,500 to 7,000.
When Did PancakeSwap The Flip Go Live?
The governance vote closed in favor on October 24, 2026, and implementation began in November 2026.
How Does The Flip Affect CAKE Holders?
Daily CAKE emissions drop about 69% to 7,000 CAKE, and the Treasury uses the non-stablecoin share of its 12% of fees to buy back CAKE for burns.
How Much of Swap Fees Do Liquidity Providers Get after The Flip?
88% of swap fees on PancakeSwap v3 and Infinity pools across all 11 supported chains, up from about 66% to 68% before.
How Much CAKE Did PancakeSwap Burn in October 2026?
About 1.79 million CAKE was burned in October 2026, extending the streak of monthly net supply decreases to 38 months.
Sources
- October 2026 Kitchen Report · PancakeSwap Blog
- October CAKE Burn Report · PancakeSwap Blog
Prices and market data: Coinranking.
