PancakeSwap is at the center of a major controversy ahead of a significant governance reform proposal. Eight associated addresses have taken control over a substantial portion of CAKE tokens, representing around half of the total unlocked supply, in an effort to influence the upcoming vote on the new proposal. The proposal, dubbed ‘CAKE Tokenomics 3.0,’ seeks to dismantle the existing veCAKE mechanism and voting system, introduce a simplified emission model, and set a 4% annual deflation rate. This initiative has ignited intense debate within the community, with prominent DeFi figures like Curve’s founder and several projects expressing their opposition due to concerns about potential governance manipulation and long-term trust issues.