CAKE · it destroys far more than it hands out.

The farm contract pays a fixed 0.1133 CAKE a block to farms, syrup pools, position vaults and ecosystem grants — 21,740 a day, or 1.96M across the 17,270,731 blocks BNB Chain produced in this window. The rate was read from the contract at both ends of the window and had not moved. It is the only place new CAKE reaches a holder: the same contract mints far more than this and destroys 99.72% of it in the same step, which never touches the market.

PancakeSwap was fair-launched in September 2020 with no presale, no venture round and no team premine, so there is no vesting contract anywhere in the design and no unlock calendar to watch. This row is zero by construction rather than quiet this quarter — no cliff can land in this window or any future one.

No team-held CAKE allocation exists to release, and no treasury outflow was observed in the window. Three things are tracked as scope: room under the 400M ceiling (67.55M of headroom above today's 332.45M), the retired vote-escrow contract (5.25M, which gave back 0.67M this window), and the legacy staking pool (13.44M, which gave back 0.03M). Those two contracts are unwinding, not filling. No public evidence of release in window — monitored.

No estate, trustee or court-administered pool holds CAKE, and none has ever been created. There is nothing here to release on a schedule and nothing to monitor beyond the row itself.

Trading and perpetual revenue, held in other assets, buys CAKE on the open market and sends every repurchased coin straight to the burn address — 6.34M in 90 days, more than three times what the farms handed out. This is the engine behind a run of shrinking supply now in its 34th consecutive month, and it is funded by real volume rather than by a schedule, so it rises and falls with trading.

Prediction, lottery, NFT market, profile, domain and launchpad fees are paid in CAKE and destroyed directly, with no market purchase in between — 0.70M over the window, about a tenth of the total destroyed. A vote that closed Jun 21 2026 with 99.57% support sends these streams to the treasury instead, so the forward column drops this row to zero while leaving the main buyback untouched.

There is no separate foundation or corporate entity buying CAKE on a published timetable. Everything the protocol spends on CAKE already runs through the buyback engine counted above. No public evidence of release in window — monitored.

Term locking was retired in April 2025 and nothing replaced it, so there is no way to lock CAKE for a fixed period any more. No new escrow or vault was deployed inside the window, and the two contracts left over from the old system are draining rather than filling.