PancakeSwap TVL Tops $380M Ahead of Fee-Sharing Vote

The proposal is really a test of whether PancakeSwap can shift value toward liquidity providers without losing the incentive that emissions provide. The 88% fee allocation and deep emissions cut target the same question: whether fee income alone can retain liquidity. The vote itself matters less than the precedent it sets for BNB Chain DeFi, where token-issuance models are being reworked. Whether liquidity holds once emissions fall is the open question.