The final vote was 99 to 1, with most vecake fully supporting the reform. Can you study and write about how cakepie hijacks vecake holders to exploit them? That would show your skills.

On April 8, PancakeSwap announced its $CAKE token economics 3.0 proposal on X, aiming to comprehensively restructure the issuance, inflation mechanism, and governance model of the $CAKE token.

Since the proposal was announced, it has sparked widespread attention and heated discussions in the market and community. From the background of the proposal, specific content, to the impact on various interests, and then to the core points of controversy and diverse viewpoints in the community, the development of the incident is filled with complexity and drama.

Cause and Effect of the Incident

On March 19, an industry insider stated on X that the current veCAKE locking mechanism design of PancakeSwap is overly complex, not only increasing the participation threshold for users but also causing an imbalance between long-term governance rights and short-term incentives. Binance co-founder Zhao Changpeng agreed in the comments on X that 'PancakeSwap should adopt a buyback and burn model instead of the ve-token model,' stating that 'many current 'models' are too convoluted, and burning is the most direct.' He also tagged PancakeSwap officials.