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The largest veCAKE holder Cakepie questions PancakeSwap's removal of veCAKE in the new tokenomics.
According to Wu, the largest veCAKE holder Cakepie questions PancakeSwap’s removal of veCAKE in the new tokenomics and states that the removal of veCAKE will have a devastating impact on long-term aligned projects of Cakepie and PancakeSwap. The removal of veCAKE will lead to damaged trust, loss of voting incentives, reduced attractiveness of new protocols, income loss for CAKE holders, sell pressure on tokens, increased volatility, erosion of decentralized governance, and risks of unsustainable burning models. Furthermore, Cakepie believes this is an organized governance attack, as approximately 25 million CAKE were suddenly locked in multiple wallets before the announcement of this proposal.