Our February 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  Mar 2, 2026, PancakeSwap has successfully burned -0.759% of the CAKE total supply for February  2026. To calculate this percentage, we divided the total net mint of -2,609,345 CAKE by the initial total CAKE supply on  Mar 2nd, 2026. This marks the 30th consecutive month of CAKE total supply reduction, with a cumulative -44,788,821 CAKE  since September 2023.

Achieving CAKE Total Supply Reduction through Net Minting:

In February 2026, PancakeSwap achieved a net mint of -2,609,345 CAKE. This negative net mint indicates that more CAKE tokens were burned than minted during the month.

February Mint Breakdown

• Farms: 325,888
• Other Product Usage: 111,967
• Ecosystem Growth: 171,204
• Total Feb Mint: 609,060

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.

February Burn Categories

• Swaps and Perpetual Trading Fees: 2,801,150
• Prediction: 303,100
• Lottery, NFT Market, Profile & Factory, CAKE Domain, CAKE Pad: 114,154
• Total February Burn:3,218,404

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.